KESTREL INVESTMENT MANAGEMENT CORP
CIK 0000917579
Annualised vol
8.453617%
Beta
0.221177
HHI
327.523643
Top-10 weight
43.105896%
VaR 95%
0.670653%
VaR 99%
1.598444%
Max drawdown
18.973381%
Matched value
84.488729%
Returns of reported holdings
Loading returns…
Position changes vs prior quarter
What the latest 13F shows bought and sold against the quarter before, by share count.
| Ticker | Change | Shares now | Shares before | Share change % | Value now ($) |
|---|---|---|---|---|---|
| PHIN | REDUCED | 163,500 | 163,600 | -0.06% | 13,467,495 |
| AX | UNCHANGED | 95,150 | 95,150 | 0.0% | 9,266,659 |
| CNO | UNCHANGED | 153,250 | 153,250 | 0.0% | 7,812,685 |
| NSIT | UNCHANGED | 63,750 | 63,750 | 0.0% | 7,764,750 |
| HAE | UNCHANGED | 97,400 | 97,400 | 0.0% | 7,305,000 |
| ITGR | UNCHANGED | 75,150 | 75,150 | 0.0% | 7,022,768 |
| NATL | UNCHANGED | 156,850 | 156,850 | 0.0% | 6,808,859 |
| TRS | UNCHANGED | 149,550 | 149,550 | 0.0% | 6,734,237 |
| PLAB | UNCHANGED | 200,450 | 200,450 | 0.0% | 6,520,639 |
| CVSA | UNCHANGED | 47,300 | 47,300 | 0.0% | 5,896,418 |
| BHF | UNCHANGED | 90,400 | 90,400 | 0.0% | 5,722,320 |
| ATKR | UNCHANGED | 74,150 | 74,150 | 0.0% | 5,638,366 |
| QCRH | UNCHANGED | 55,650 | 55,650 | 0.0% | 5,417,528 |
| VTOL | UNCHANGED | 129,700 | 129,700 | 0.0% | 5,359,204 |
| WEX | NEW | 36,900 | - | - | 5,206,221 |
| THC | UNCHANGED | 27,175 | 27,175 | 0.0% | 5,083,899 |
| ECVT | UNCHANGED | 405,400 | 405,400 | 0.0% | 5,047,230 |
| EXLS | ADDED | 171,900 | 86,500 | 98.73% | 4,445,334 |
| PFBC | UNCHANGED | 39,750 | 39,750 | 0.0% | 4,223,835 |
| KOP | UNCHANGED | 83,450 | 83,450 | 0.0% | 3,746,905 |
| UPWK | UNCHANGED | 433,000 | 433,000 | 0.0% | 3,619,880 |
| CARS | UNCHANGED | 305,750 | 305,750 | 0.0% | 3,344,905 |
| MATW | REDUCED | 115,500 | 115,900 | -0.35% | 3,109,260 |
| MTUS | UNCHANGED | 130,000 | 130,000 | 0.0% | 2,429,700 |
| SBSI | UNCHANGED | 69,000 | 69,000 | 0.0% | 2,428,110 |
| CNXC | UNCHANGED | 97,750 | 97,750 | 0.0% | 2,190,089 |
| SLM | NEW | 83,050 | - | - | 2,154,317 |
| RAMP | NEW | 54,000 | - | - | 2,032,560 |
| BLKB | UNCHANGED | 61,050 | 61,050 | 0.0% | 1,808,301 |
| GTM | UNCHANGED | 547,100 | 547,100 | 0.0% | 1,603,003 |
| RLGT | UNCHANGED | 127,799 | 127,799 | 0.0% | 1,208,979 |
| FORR | UNCHANGED | 91,500 | 91,500 | 0.0% | 769,515 |
| AAMI | CLOSED OUT | 0 | 62,381 | -100.0% | 0 |
Holdings (latest quarter)
| Ticker | Change | Issuer | Class | CUSIP | Value ($) | Weight % | Shares |
|---|---|---|---|---|---|---|---|
| PHIN | REDUCED | PHINIA Inc | COM | 71880K101 | 13,467,495 | 7.33 | 163500.0 |
| AX | UNCHANGED | Axos Financial Inc | COM | 05465C100 | 9,266,659 | 5.04 | 95150.0 |
| CNO | UNCHANGED | CNO Financial Group Inc | COM | 12621E103 | 7,812,685 | 4.25 | 153250.0 |
| NSIT | UNCHANGED | Insight Enterprises Inc | COM | 45765U103 | 7,764,750 | 4.23 | 63750.0 |
| HAE | UNCHANGED | Haemonetics Corp | COM | 405024100 | 7,305,000 | 3.98 | 97400.0 |
| ITGR | UNCHANGED | Integer Holdings Corp | COM | 45826H109 | 7,022,768 | 3.82 | 75150.0 |
| NATL | UNCHANGED | NCR Atleos Corp | COM | 63001N106 | 6,808,859 | 3.71 | 156850.0 |
| TRS | UNCHANGED | TriMas Corp | COM | 896215209 | 6,734,237 | 3.67 | 149550.0 |
| PLAB | UNCHANGED | Photronics Inc | COM | 719405102 | 6,520,639 | 3.55 | 200450.0 |
| - | The Scotts Miracle-Gro Co | COM | 810186106 | 6,473,856 | 3.52 | 95050.0 | |
| - | Xenia Hotels and Resorts | COM | 984017103 | 5,999,074 | 3.27 | 294650.0 | |
| CVSA | UNCHANGED | Covista Inc | COM | 00737L103 | 5,896,418 | 3.21 | 47300.0 |
| BHF | UNCHANGED | Brighthouse Financial Inc | COM | 10922N103 | 5,722,320 | 3.12 | 90400.0 |
| ATKR | UNCHANGED | Atkore Inc | COM | 047649108 | 5,638,366 | 3.07 | 74150.0 |
| QCRH | UNCHANGED | QCR Holdings Inc | COM | 74727A104 | 5,417,528 | 2.95 | 55650.0 |
| VTOL | UNCHANGED | Bristow Group Inc | COM | 11040G103 | 5,359,204 | 2.92 | 129700.0 |
| WEX | NEW | WEX Inc | COM | 96208T104 | 5,206,221 | 2.83 | 36900.0 |
| THC | UNCHANGED | Tenet Healthcare Corp | COM | 88033G407 | 5,083,899 | 2.77 | 27175.0 |
| ECVT | UNCHANGED | Ecovyst Inc | COM | 27923Q109 | 5,047,230 | 2.75 | 405400.0 |
| EXLS | ADDED | ExlService Holdings Inc | COM | 302081104 | 4,445,334 | 2.42 | 171900.0 |
| PFBC | UNCHANGED | Preferred Bank | COM | 740367404 | 4,223,835 | 2.3 | 39750.0 |
| KOP | UNCHANGED | Koppers Holdings Inc | COM | 50060P106 | 3,746,905 | 2.04 | 83450.0 |
| UPWK | UNCHANGED | Upwork Inc | COM | 91688F104 | 3,619,880 | 1.97 | 433000.0 |
| - | Avanos Medical Inc | COM | 05350V106 | 3,479,468 | 1.89 | 139850.0 | |
| - | The Simply Good Foods Co | COM | 82900L102 | 3,426,904 | 1.87 | 258050.0 | |
| CARS | UNCHANGED | Cars.com Inc | COM | 14575E105 | 3,344,905 | 1.82 | 305750.0 |
| - | Prestige Consumer Healthcare I | COM | 74112D101 | 3,306,537 | 1.8 | 69950.0 | |
| MATW | REDUCED | Matthews International Corp | COM | 577128101 | 3,109,260 | 1.69 | 115500.0 |
| - | Science App Intl Corp | COM | 808625107 | 2,445,582 | 1.33 | 22150.0 | |
| MTUS | UNCHANGED | Metallus Inc | COM | 887399103 | 2,429,700 | 1.32 | 130000.0 |
| SBSI | UNCHANGED | Southside Bancshares Inc | COM | 84470P109 | 2,428,110 | 1.32 | 69000.0 |
| - | Cross Country Healthcare Inc | COM | 227483104 | 2,207,391 | 1.2 | 167100.0 | |
| CNXC | UNCHANGED | Concentrix Corp | COM | 20602D101 | 2,190,089 | 1.19 | 97750.0 |
| SLM | NEW | SLM Corp | COM | 78442P106 | 2,154,317 | 1.17 | 83050.0 |
| RAMP | NEW | LiveRamp Holdings Inc | COM | 53815P108 | 2,032,560 | 1.11 | 54000.0 |
| BLKB | UNCHANGED | Blackbaud Inc | COM | 09227Q100 | 1,808,301 | 0.98 | 61050.0 |
| GTM | UNCHANGED | ZoomInfo Technologies Inc | COM | 98980F104 | 1,603,003 | 0.87 | 547100.0 |
| RLGT | UNCHANGED | Radiant Logistics Inc | COM | 75025X100 | 1,208,979 | 0.66 | 127799.0 |
| - | Hudson Technologies Inc | COM | 444144109 | 1,152,305 | 0.63 | 200750.0 | |
| FORR | UNCHANGED | Forrester Research Inc | COM | 346563109 | 769,515 | 0.42 | 91500.0 |
Quarterly portfolios
| Period | Filed | Value ($) | Positions | Vol % | Beta | Max DD % |
|---|---|---|---|---|---|---|
| 2026-06-30 | 2026-08-04 | 183,680,088 | 40 | 8.453617 | 0.221177 | 18.973381 |
| 2026-03-31 | 2026-05-05 | 167,465,990 | 39 | 7.892558 | 0.18578 | 17.812383 |
| 2025-12-31 | 2026-02-03 | 176,409 | 40 | 7.94695 | 0.179964 | 18.38109 |
| 2025-09-30 | 2025-11-12 | 177,403 | 40 | 7.732542 | 0.189194 | 16.723638 |
| 2025-03-31 | 2025-05-08 | 163,739 | 40 | 6.459149 | 0.153707 | 12.19258 |
| 2024-12-31 | 2025-02-12 | 181,163 | 40 | 5.520328 | 0.128651 | 12.518214 |