Institutional Manager · CIK 0000917579
KESTREL INVESTMENT MANAGEMENT CORP
SAN MATEO, CA · File #028-04060
Latest AUM
$176,409
Positions
40
Top-10 Concentration
42.0%
Filings
9
Portfolio Value Over Time
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
Biggest QoQ Changes
Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.
| Action | Issuer | Ticker / CUSIP | Δ Shares | Flow ($) | Price Effect |
|---|---|---|---|---|---|
| EXITED | Premier Inc | 74051N102 | -255,350 | -$7,098 | $0 |
| NEW | Integer Holdings Corp | ITGR | +75,650 | +$5,933 | $0 |
| NEW | CoreCivic Inc | CXW | +293,100 | +$5,601 | $0 |
| EXITED | MDU Resources Group Inc | 552690109 | -309,600 | -$5,513 | $0 |
| NEW | QCR Holdings Inc | QCRH | +55,650 | +$4,636 | $0 |
| NEW | Ecovyst Inc | ECVT | +407,600 | +$3,965 | $0 |
| EXITED | Progyny Inc | 74340E103 | -178,650 | -$3,844 | $0 |
| NEW | Cars.com Inc | CARS | +307,550 | +$3,752 | $0 |
| EXITED | Beacon Financial Corp | 084680107 | -140,950 | -$3,342 | $0 |
| EXITED | Driven Brands Hldgs Inc | 26210V102 | -200,200 | -$3,226 | $0 |
Sector Allocation
Filing History
- 13F HOLDINGS REPORTQ/E Dec 202540 pos · $176,409
- 13F HOLDINGS REPORTQ/E Sep 202540 pos · $177,403
- 13F HOLDINGS REPORTQ/E Jun 202541 pos · $167,003
- 13F HOLDINGS REPORTQ/E Mar 202540 pos · $163,739
- 13F HOLDINGS REPORTQ/E Dec 202440 pos · $181,163
- 13F HOLDINGS REPORTQ/E Sep 202440 pos · $173,746
- 13F HOLDINGS REPORTQ/E Jun 202437 pos · $150,968
- 13F HOLDINGS REPORTQ/E Mar 202437 pos · $149,769
- 13F HOLDINGS REPORTQ/E Dec 202338 pos · $158,128
Top 20 Holdings — Dec 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 1 | PHINIA Inc | PHIN | 165,400 | $10,370 | 5.88% |
| 2 | Upwork Inc | UPWK | 435,500 | $8,631 | 4.89% |
| 3 | Axos Financial Inc | AX | 96,150 | $8,284 | 4.70% |
| 4 | Haemonetics Corp | HAE | 98,100 | $7,862 | 4.46% |
| 5 | Tri Pointe Homes Inc | TPH | 221,550 | $6,972 | 3.95% |
| 6 | Radian Group Inc | RDN | 192,800 | $6,940 | 3.93% |
| 7 | CNO Financial Group Inc | 12621E103 | 154,250 | $6,550 | 3.71% |
| 8 | Photronics Inc | PLAB | 201,850 | $6,460 | 3.66% |
| 9 | NCR Atleos Corp | NATL | 158,150 | $6,028 | 3.42% |
| 10 | Integer Holdings Corp | ITGR | 75,650 | $5,933 | 3.36% |
| 11 | Brighthouse Financial Inc | 10922N103 | 91,200 | $5,908 | 3.35% |
| 12 | ZoomInfo Technologies Inc | GTM | 551,600 | $5,610 | 3.18% |
| 13 | CoreCivic Inc | CXW | 293,100 | $5,601 | 3.18% |
| 14 | Tenet Healthcare Corp | THC | 27,475 | $5,460 | 3.10% |
| 15 | Adtalem Global Educ Inc | ADT | 47,600 | $4,925 | 2.79% |
| 16 | Bristow Group Inc | VTOL | 130,500 | $4,779 | 2.71% |
| 17 | Atkore Inc | ATKR | 74,650 | $4,722 | 2.68% |
| 18 | QCR Holdings Inc | QCRH | 55,650 | $4,636 | 2.63% |
| 19 | Prestige Consumer Healthcare I | 74112D101 | 70,450 | $4,347 | 2.46% |
| 20 | Xenia Hotels and Resorts | XHR | 297,050 | $4,200 | 2.38% |