The asset management firm disclosed in its Q2 investor letter that it has added Magnolia Oil & Gas Corporation (NYSE:MGY) to its small-cap portfolio. Conestoga Capital Advisors stated that the increased position in MGY is based on the company's disciplined operating model, attractive free cash flow generation, and consistent capital allocation track record. Furthermore, MGY recently expanded its inventory of high-return drilling locations through an acquisition while maintaining a low reinvestment rate and a strong balance sheet.