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Montanaro Asset Management Ltd

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13F filer, CIK 1831133, LONDON, United Kingdom

Montanaro Asset Management Ltd reported $334,351,877 across 42 holdings for the quarter ended 2026-03-31, in a 13F-HR filed 2026-05-11. Its ten largest share positions make up 44.46% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001831133-26-000002

Period
2026-03-31
Reported value
$334M
Holdings
42
Top 10 weight
44.46%
New
7
Sold out
6

Largest buys vs the previous quarter

SecurityShares changeApprox. value
VMInew+19,400$7.75M
WTSnew+26,500$7.69M
FSSadded+54,600$5.9M
EGPadded+28,000$5.18M
EXPOadded+71,300$4.65M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
TREXexited-302,462-$10.6M
BRKRexited-173,500-$8.17M
PAYCexited-50,500-$8.05M
NVMIreduced-15,500-$6.73M
ROLreduced-102,000-$5.45M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2026

Share positions as resolved from 13F-HR 0001831133-26-000002, largest first. % of portfolio is the value over $334,351,877, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
NVMINOVA LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 110,358 shares; 2024Q4: 75,958 shares; 2025Q1: 64,125 shares; 2025Q2: 71,830 shares; 2025Q3: 73,680 shares; 2025Q4: 63,630 shares; 2026Q1: 48,130 shares 48,130$20.9M6.25%-15,500Timeline
TECHBIO-TECHNE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 323,000 shares; 2024Q4: 332,500 shares; 2025Q1: 256,600 shares; 2025Q2: 294,950 shares; 2025Q3: 362,050 shares; 2025Q4: 346,450 shares; 2026Q1: 341,050 shares 341,050$17.8M5.33%-5,400Timeline
BCPCBALCHEM CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 127,800 shares; 2024Q4: 107,500 shares; 2025Q1: 74,900 shares; 2025Q2: 74,400 shares; 2025Q3: 78,700 shares; 2025Q4: 101,300 shares; 2026Q1: 98,700 shares 98,700$16.7M5%-2,600Timeline
HLIHOULIHAN LOKEY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 151,000 shares; 2024Q4: 95,000 shares; 2025Q1: 79,500 shares; 2025Q2: 81,000 shares; 2025Q3: 89,000 shares; 2025Q4: 97,650 shares; 2026Q1: 98,250 shares 98,250$14.1M4.22%+600Timeline
BSYBENTLEY SYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 331,416 shares; 2024Q4: 373,216 shares; 2025Q1: 309,239 shares; 2025Q2: 436,900 shares; 2025Q3: 460,900 shares; 2025Q4: 461,409 shares; 2026Q1: 400,300 shares 400,300$14.1M4.2%-61,109Timeline
EGPEASTGROUP PPTYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 37,000 shares; 2025Q4: 47,600 shares; 2026Q1: 75,600 shares 75,600$14M4.19%+28,000Timeline
FSSFEDERAL SIGNAL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 18,400 shares; 2025Q2: 43,900 shares; 2025Q3: 41,300 shares; 2025Q4: 68,500 shares; 2026Q1: 123,100 shares 123,100$13.3M3.98%+54,600Timeline
CSWCSW INDUSTRIALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 45,000 shares; 2024Q4: 35,000 shares; 2025Q1: 35,000 shares; 2025Q2: 40,000 shares; 2025Q3: 40,000 shares; 2025Q4: 46,200 shares; 2026Q1: 49,800 shares 49,800$13M3.88%+3,600Timeline
EXPOEXPONENT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 179,500 shares; 2024Q4: 168,300 shares; 2025Q1: 124,200 shares; 2025Q2: 121,600 shares; 2025Q3: 121,600 shares; 2025Q4: 120,500 shares; 2026Q1: 191,800 shares 191,800$12.5M3.74%+71,300Timeline
AWKAMERICAN WTR WKS CO INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 169,900 shares; 2024Q4: 138,500 shares; 2025Q1: 87,300 shares; 2025Q2: 86,540 shares; 2025Q3: 97,540 shares; 2025Q4: 90,240 shares; 2026Q1: 89,840 shares 89,840$12.2M3.66%-400Timeline
LRNSTRIDE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 155,000 shares; 2024Q4: 183,500 shares; 2025Q1: 140,600 shares; 2025Q2: 120,000 shares; 2025Q3: 132,200 shares; 2025Q4: 108,000 shares; 2026Q1: 125,300 shares 125,300$11M3.3%+17,300Timeline
ROLROLLINS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 248,000 shares; 2024Q4: 256,000 shares; 2025Q1: 260,000 shares; 2025Q2: 265,000 shares; 2025Q3: 297,000 shares; 2025Q4: 305,000 shares; 2026Q1: 203,000 shares 203,000$10.8M3.24%-102,000Timeline
MANHMANHATTAN ASSOCIATES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 26,600 shares; 2024Q4: 76,940 shares; 2025Q1: 61,920 shares; 2025Q2: 71,060 shares; 2025Q3: 92,160 shares; 2025Q4: 94,910 shares; 2026Q1: 79,310 shares 79,310$10.6M3.16%-15,600Timeline
FNFABRINETQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 41,250 shares; 2024Q4: 34,020 shares; 2025Q1: 33,759 shares; 2025Q2: 33,000 shares; 2025Q3: 33,000 shares; 2025Q4: 27,500 shares; 2026Q1: 20,000 shares 20,000$10.4M3.12%-7,500Timeline
ENTGENTEGRIS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 110,221 shares; 2024Q4: 92,600 shares; 2025Q1: 55,580 shares; 2025Q2: 59,400 shares; 2025Q3: 48,600 shares; 2025Q4: 104,700 shares; 2026Q1: 81,900 shares 81,900$9.6M2.87%-22,800Timeline
TYLTYLER TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 59,960 shares; 2024Q4: 52,360 shares; 2025Q1: 41,461 shares; 2025Q2: 38,075 shares; 2025Q3: 40,575 shares; 2025Q4: 30,275 shares; 2026Q1: 27,325 shares 27,325$9.36M2.8%-2,950Timeline
GGGGRACO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 90,000 shares; 2025Q1: 90,000 shares; 2025Q2: 90,000 shares; 2025Q3: 90,000 shares; 2025Q4: 90,000 shares; 2026Q1: 110,000 shares 110,000$9.31M2.78%+20,000Timeline
HWKNHAWKINS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 15,000 shares; 2025Q1: 15,000 shares; 2025Q2: 59,100 shares; 2025Q3: 59,100 shares; 2025Q4: 65,900 shares; 2026Q1: 59,800 shares 59,800$9.19M2.75%-6,100Timeline
FCNFTI CONSULTING INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 30,000 shares; 2024Q4: 45,000 shares; 2025Q1: 45,000 shares; 2025Q2: 50,000 shares; 2025Q3: 50,000 shares; 2025Q4: 50,000 shares; 2026Q1: 50,000 shares 50,000$8.84M2.64%0Timeline
SITMSITIME CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 46,025 shares; 2024Q4: 45,880 shares; 2025Q1: 45,659 shares; 2025Q2: 45,000 shares; 2025Q3: 35,000 shares; 2025Q4: 35,000 shares; 2026Q1: 25,000 shares 25,000$8.63M2.58%-10,000Timeline
MSCIMSCI INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 18,600 shares; 2024Q4: 17,000 shares; 2025Q1: 12,000 shares; 2025Q2: 12,750 shares; 2025Q3: 14,350 shares; 2025Q4: 15,150 shares; 2026Q1: 15,650 shares 15,650$8.44M2.52%+500Timeline
TMDXTRANSMEDICS GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 117,235 shares; 2024Q4: 140,035 shares; 2025Q1: 153,675 shares; 2025Q2: 125,936 shares; 2025Q3: 130,586 shares; 2025Q4: 101,939 shares; 2026Q1: 78,739 shares 78,739$7.83M2.34%-23,200Timeline
VMIVALMONT INDS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 19,400 shares 19,400$7.75M2.32%newTimeline
WTSWATTS WATER TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 26,500 shares 26,500$7.69M2.3%newTimeline
VEEVVEEVA SYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 80,250 shares; 2024Q4: 62,150 shares; 2025Q1: 40,230 shares; 2025Q2: 35,800 shares; 2025Q3: 40,200 shares; 2025Q4: 39,600 shares; 2026Q1: 36,000 shares 36,000$6.32M1.89%-3,600Timeline
TWTRADEWEB MKTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 39,000 shares; 2024Q4: 43,000 shares; 2025Q1: 47,000 shares; 2025Q2: 52,500 shares; 2025Q3: 65,000 shares; 2025Q4: 69,500 shares; 2026Q1: 53,150 shares 53,150$6.25M1.87%-16,350Timeline
ALRMALARM COM HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 223,900 shares; 2024Q4: 238,300 shares; 2025Q1: 174,790 shares; 2025Q2: 177,600 shares; 2025Q3: 164,300 shares; 2025Q4: 150,100 shares; 2026Q1: 141,700 shares 141,700$6.12M1.83%-8,400Timeline
MIRMIRION TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 171,600 shares; 2025Q4: 255,400 shares; 2026Q1: 305,300 shares 305,300$5.68M1.7%+49,900Timeline
HQYHEALTHEQUITY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 15,300 shares; 2025Q2: 28,100 shares; 2025Q3: 32,900 shares; 2025Q4: 37,200 shares; 2026Q1: 50,800 shares 50,800$4.25M1.27%+13,600Timeline
HXLHEXCEL CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 42,000 shares 42,000$3.4M1.02%newTimeline
MDAMDA SPACE LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 134,100 shares 134,100$3.4M1.02%newTimeline
TRNSTRANSCAT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 40,000 shares; 2024Q4: 40,000 shares; 2025Q1: 40,000 shares; 2025Q2: 40,000 shares; 2025Q3: 40,000 shares; 2025Q4: 40,000 shares; 2026Q1: 40,000 shares 40,000$2.94M0.88%0Timeline
SNEXSTONEX GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 30,000 shares 30,000$2.42M0.72%newTimeline
UTIUNIVERSAL TECHNICAL INST INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 44,300 shares; 2026Q1: 66,668 shares 66,668$2.41M0.72%+22,368Timeline
STVNSTEVANATO GROUP S P AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 179,800 shares; 2024Q4: 179,800 shares; 2025Q1: 175,000 shares; 2025Q2: 175,000 shares; 2025Q3: 175,000 shares; 2025Q4: 175,000 shares; 2026Q1: 175,000 shares 175,000$2.41M0.72%0Timeline
BRBRBELLRING BRANDS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 100,000 shares; 2025Q1: 110,000 shares; 2025Q2: 110,000 shares; 2025Q3: 110,000 shares; 2025Q4: 110,000 shares; 2026Q1: 140,000 shares 140,000$2.25M0.67%+30,000Timeline
TTEKTETRA TECH INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 71,500 shares 71,500$2.15M0.64%newTimeline
KNSLKINSALE CAP GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 2,800 shares; 2026Q1: 4,457 shares 4,457$1.52M0.46%+1,657Timeline
WMSADVANCED DRAIN SYS INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 83,400 shares; 2024Q4: 67,700 shares; 2025Q1: 38,000 shares; 2025Q2: 37,800 shares; 2025Q3: 26,600 shares; 2025Q4: 16,300 shares; 2026Q1: 10,800 shares 10,800$1.48M0.44%-5,500Timeline
BMIBADGER METER INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 68,050 shares; 2024Q4: 53,450 shares; 2025Q1: 20,500 shares; 2025Q2: 17,600 shares; 2025Q3: 12,000 shares; 2025Q4: 12,000 shares; 2026Q1: 7,300 shares 7,300$1.11M0.33%-4,700Timeline
DOCSDOXIMITY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 32,200 shares; 2025Q4: 41,200 shares; 2026Q1: 45,300 shares 45,300$1.06M0.32%+4,100Timeline
CLHCLEAN HARBORS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 3,600 shares 3,600$1.03M0.31%newTimeline

Sold out in Q1 2026

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
TREXTREX INC302,462$10.6Mshares
BRKRBRUKER CORP173,500$8.17Mshares
PAYCPAYCOM SOFTWARE INC50,500$8.05Mshares
ERIIENERGY RECOVERY INC128,160$1.73Mshares
CGNXCOGNEX CORP42,012$1.51Mshares
OLEDUNIVERSAL DISPLAY CORP12,900$1.51Mshares

How Q1 2026 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001831133-26-000002 base2026-05-11acceptance time not in the bulk data set