— Know what they know.
Not Investment Advice
Asset Manager ← All Institutions

KESTREL INVESTMENT MANAGEMENT CORP

411 BOREL AVE SUITE 403, SAN MATEO, CA 94402 • 6505729469

Q3 2025 · Filed 2025-11-12
Market Value
$177M
+6.6%
Holdings
43
+2
New Purchases
3
Added To
0
Closed
3
Reduced
1
Top 10 Concentration
42.5%
Turnover
14.0%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
HAE 2.80% 0.00% +2.80% $5M
VTOL 2.75% 0.00% +2.75% $5M
OCFC 2.02% 0.00% +2.02% $4M
UPWK 4.72% 3.64% +1.08% $8M
PHIN 5.55% 4.58% +0.97% $10M
NATL 3.63% 2.81% +0.82% $6M
PINC 4.00% 3.36% +0.64% $7M
CVSA 4.29% 3.77% +0.52% $8M
AAMI 1.77% 1.38% +0.39% $3M
PLAB 2.71% 2.37% +0.34% $5M
THC 3.27% 3.02% +0.25% $6M
AX 4.74% 4.54% +0.20% $8M
HDSN 1.17% 1.02% +0.15% $2M
RNGR 1.14% 1.04% +0.11% $2M
XHR 2.38% 2.32% +0.05% $4M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
MRC 0.00% 3.15% -3.15% $0
DNB 0.00% 2.66% -2.66% $0
ADEA 0.00% 2.26% -2.26% $0
PBH 2.57% 3.50% -0.93% $5M
CNXC 2.65% 3.24% -0.59% $5M
ATKR 2.74% 3.28% -0.55% $5M
DRVN 1.82% 2.30% -0.48% $3M
EPC 1.40% 1.72% -0.32% $2M
KOP 1.37% 1.68% -0.31% $2M
SAIC 1.27% 1.54% -0.26% $2M
RDN 4.08% 4.32% -0.24% $7M
BBT 1.88% 2.12% -0.24% $3M
BHF 2.83% 3.05% -0.23% $5M
PGNY 2.17% 2.36% -0.19% $4M
BLKB 2.31% 2.46% -0.15% $4M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Consumer Cyclical 20.8%
Financial Services 20.1%
Technology 19.3%
Healthcare 14.9%
Basic Materials 8.4%

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 1 $6M 3.3%
Mid Cap 21 $109M 61.2%
Small Cap 19 $60M 33.7%
Micro Cap 2 $3M 1.7%

Portfolio Analytics

Avg Market Cap
$2.5B
Median Market Cap
$2.3B
Avg P/E
28.3
Median P/E
18.1
Avg Dividend Yield
0.01%
Avg Beta
0.90
# Stocks
43
# ETFs / Funds
0

Top Holdings (43 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 PHIN 5.55% 171,300 $10M $57.48 $2M
2 AX 4.74% 99,350 $8M $84.65 $856K
3 UPWK 4.72% 451,000 $8M $18.57 $2M
4 TPH 4.39% 229,450 $8M $33.97 $465K
5 CVSA 4.29% 49,300 $8M $154.44 $1M
6 RDN 4.08% 199,700 $7M $36.22 $41K
7 PINC 4.00% 255,350 $7M $27.80 $1M
8 NATL 3.63% 163,850 $6M $39.31 $2M
9 CNO 3.56% 159,650 $6M $39.55 $154K
10 ZI 3.51% 571,000 $6M $10.91 $452K
11 THC 3.27% 28,575 $6M $203.04 $773K
12 MDU 3.11% 309,600 $6M $17.81 $352K
13 BHF 2.83% 94,500 $5M $53.09 -$64K
14 HAE 2.80% 101,800 $5M $48.73 +101,800 NEW
15 VTOL 2.75% 135,100 $5M $36.09 +135,100 NEW
16 ATKR 2.74% 77,350 $5M $62.73 -$608K
17 PLAB 2.71% 209,150 $5M $22.95 $862K
18 CNXC 2.65% 102,050 $5M $46.14 -$684K
19 PBH 2.57% 72,950 $5M $62.40 -$1M
20 XHR 2.38% 307,750 $4M $13.71 $352K
21 BLKB 2.31% 63,650 $4M $64.32 $4K
22 PGNY 2.17% 178,650 $4M $21.52 -$86K
23 PFBC 2.11% 41,450 $4M $90.37 $159K
24 OCFC 2.02% 204,150 $4M $17.57 +204,150 NEW
25 BBT 1.88% 140,950 $3M $23.71 -$188K
26 THS 1.88% 164,650 $3M $20.21 $130K
27 DRVN 1.82% 200,200 $3M $16.11 -$604K -17,900 -8.2%
28 AAMI 1.77% 65,381 $3M $48.15 $844K
29 MATW 1.64% 120,000 $3M $24.28 $45K
30 EPC 1.40% 122,200 $2M $20.35 -$373K
31 CCRN 1.40% 174,300 $2M $14.20 $201K
32 KOP 1.37% 86,750 $2M $27.99 -$361K
33 SAIC 1.27% 22,750 $2M $99.38 -$300K
34 TMST 1.27% 136,000 $2M $16.54 $154K
35 HDSN 1.17% 208,850 $2M $9.93 $379K
36 SBSI 1.15% 71,900 $2M $28.26 -$84K
37 RNGR 1.14% 144,400 $2M $14.04 $304K
38 AVNS 0.95% 146,050 $2M $11.56 -$101K
39 FORR 0.57% 95,100 $1M $10.60 $67K
40 RLGT 0.44% 132,699 $783K $5.90 -$23K
41 ADEA —% -$4M -265,913 -100.0% SOLD
42 MRC —% -$5M -382,950 -100.0% SOLD
43 DNB —% -$4M -486,900 -100.0% SOLD

New Positions

SymbolValue% Port
HAE $5M 2.80%
VTOL $5M 2.75%
OCFC $4M 2.02%

Sold Out Positions

SymbolValue% Port
ADEA —%
DNB —%
MRC —%
View SEC EDGAR Filings for KESTREL INVESTMENT MANAGEMENT CORP →

Sign in to InsiderStreet

You'll also get our free weekly newsletter with
smart money signals, market insights, and alpha ideas.
Unsubscribe anytime.

For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms