Conestoga Capital Advisors, an asset management firm, has released its third quarter 2025 investor letter. A copy of the letter can be downloaded here. Equity markets continued the momentum that began in early April, reaching new historic highs in the third quarter. During the quarter, the Conestoga Small Cap Composite Index posted a return net of fees of -1.4%, underperforming the impressive 12.2% gain of the Russell Growth Index 2000. Most of the index’s gains came from the leadership of low-quality stocks, where unprofitable, high-beta stocks significantly outperformed. Please review the fund’s top 5 holdings for a better understanding of their top picks for 2025.
In its third quarter 2025 investor letter, Conestoga Capital Advisors highlighted stocks such as Mirion Technologies, Inc. (NYSE:MIR). Headquartered in Atlanta, Georgia, Mirion Technologies, Inc. (NYSE: MIR) provides radiation detection, measurement, analysis and monitoring products and services that operate in the medical, nuclear and security segments. Mirion Technologies, Inc. (NYSE:MIR)’s one-month return was 1.30% and its shares have gained 71.94% of their value over the past 52 weeks. On October 17, 2025, Mirion Technologies, Inc. (NYSE: MIR) stock closed at $24.17 per share, with a market cap of $6.053 billion.
Conestoga Capital Advisors stated the following regarding Mirion Technologies, Inc. (NYSE: MIR) in its Q3 2025 Investor Letter:
“Mirion Technologies, Inc. (NYSE: MIR) provides radiation detection, measurement, analysis and safety solutions for medical, nuclear and industrial applications. MIR continues to benefit from sustainable demand drivers, including increased focus on nuclear energy, medical imaging and global safety standards. The company generates recurring revenue through service contracts and consumables, while its diversified end markets reduce cyclicality. With improved margins, progress in deleveraging and exposure to long-term infrastructure and energy trends, MIR offers attractive growth potential at a reasonable valuation. »
Mirion Technologies, Inc. (NYSE: MIR) is not on our list of the 30 most popular stocks among hedge funds. According to our database, 46 hedge fund portfolios held Mirion Technologies, Inc. (NYSE: MIR) at the end of the second quarter, up from 35 at the end of the previous quarter. For the second quarter of 2025, Mirion Technologies, Inc. (NYSE: MIR) reported revenue of $222.9 million, a year-over-year increase of 7.6%. While we recognize the potential of Mirion Technologies, Inc. (NYSE: MIR) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for a hugely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the reshoring trend, check out our free report on the best AI stock in the short term.
