Conestoga Capital Advisors, an asset management firm, released its Q3 2025 investor letter. A copy of the letter can be downloaded here. Equity markets continued the momentum started in early April and reached new all-time highs in the third quarter. The Conestoga Micro-Cap Composite returned 11.7% net of fees in the third quarter, compared to the Russell Microcap Growth Index’s return of 19.9%. Check out the fund’s top five holdings to better understand your best picks for 2025.
In its Q3 2025 investor letter, Conestoga Capital Advisors highlighted stocks like Willdan Group, Inc. (NASDAQ:WLDN). Willdan Group, Inc. (NASDAQ:WLDN) provides professional, technical and consulting services operating in the Energy and Engineering and Consulting segments. Willdan Group, Inc. (NASDAQ:WLDN)’s monthly performance was -8.00% and its shares gained 114.22% of its value in the last 52 weeks. On October 17, 2025, Willdan Group, Inc. (NASDAQ:WLDN) stock closed at $95.40 per share, with a market capitalization of $1.399 million.
Conestoga Capital Advisors stated the following regarding Willdan Group, Inc. (NASDAQ:WLDN) in its Q3 2025 investor letter:
“Willdan Group, Inc. (NASDAQ:WLDN) provides professional services focused on energy efficiency, engineering and consulting. The stock rose thanks to strong execution in energy efficiency services, supported by federal and state infrastructure financing. Strong project wins in utility programs and government contracts expanded the order book, while improving cost controls boosted margins. The increasing adoption of clean energy consulting services increased visibility. “The company also benefited from investor optimism around infrastructure spending linked to sustainability.”
Willdan Group, Inc. (NASDAQ:WLDN) isn’t on our list of the 30 most popular stocks among hedge funds. According to our database, Willdan Group, Inc. (NASDAQ:WLDN) had 25 hedge fund portfolios at the end of the second quarter, up from 22 at the end of the previous quarter. While we recognize the potential of Willdan Group, Inc. (NASDAQ:WLDN) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that’s also benefiting significantly from Trump-era tariffs and the offshoring trend, check out our free report on best short-term AI stock.
In another article, we covered Willdan Group, Inc. (NASDAQ:WLDN) and shared the list of stocks that Jim Cramer discussed. In last quarter’s investor letter, Conestoga Capital Advisors shared its confidence in the growth prospects of Willdan Group, Inc. (NASDAQ:WLDN). Also, see our Q3 2025 Letters to Hedge Fund Investors page for more letters to hedge fund investors and other leading investors.