SCHEDULE: Conestoga Capital Advisors Discloses 5.06% Stake in Exponent Inc.

Conestoga Capital Advisors reported a 5.06% beneficial ownership stake in Exponent Inc. common stock as of December 31, 2025, filed as an amendment to its Schedule 13G.

Summary

• Conestoga Capital Advisors, an investment adviser, reported beneficial ownership of 2,526,244 shares of Exponent Inc. common stock.
• This represents 5.06% of Exponent Inc.'s outstanding common stock.
• The filing is an Amendment No. 3 to a Schedule 13G, indicating an update to a previously reported ownership position.
• Conestoga Capital Advisors holds sole voting and sole dispositive power over 2,392,498 shares.
• The securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of Exponent Inc.

Sentiment

Score: 5

Explanation: The filing is a standard regulatory disclosure of beneficial ownership and does not contain information that would inherently be positive or negative for the issuer's performance or outlook.

Positives

• Increased transparency regarding institutional ownership in Exponent Inc.
• Conestoga Capital Advisors' certification that the shares are held in the ordinary course of business, not for control purposes, suggests a passive investment.

Future Outlook

NA

Industry Context

This filing reflects routine disclosure requirements for institutional investors crossing the 5% beneficial ownership threshold. It provides transparency on significant passive holdings in publicly traded companies, which is standard practice across industries.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional investor's stake, potentially offering some confidence in the stock's institutional backing.

Key Dates

Keywords

Exponent Inc., Conestoga Capital Advisors, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, Investment Adviser, Passive Investment, Shareholder Disclosure