KESTREL INVESTMENT MANAGEMENT CORP
Sector Allocation
- Industrials24.3%$44.6M
- Technology18.8%$34.6M
- Financials17.9%$32.8M
- Healthcare17.0%$31.2M
- Consumer Discretionary11.3%$20.8M
- Materials6.5%$12.0M
- Other2.3%$4.2M
- Consumer Staples1.9%$3.4M
AUM History
13fpro.ai/research/fund/kestrel-investment-management-corp-917579
Conviction and streaks
Diversifying · top 10 = 43.1%From the fund's last 12 quarters of 13F filings: positions held longest at size, and names it added to or trimmed several quarters running.
Largest positions — Q2 2026
PHIN
$13.5MAX
$9.3MCNO
$7.8MNSIT
$7.8MHAE
$7.3MITGR
$7.0MNATL
$6.8MTRS
$6.7MPLAB
$6.5MSMG
$6.5MXHR
$6.0MCVSA
$5.9MBHF
$5.7MATKR
$5.6MQCRH
$5.4MVTOL
$5.4MWEX
$5.2MTHC
$5.1MECVT
$5.0MEXLS
$4.4M
Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.
13fpro.ai/research/fund/kestrel-investment-management-corp-917579
KESTREL INVESTMENT MANAGEMENT CORP 13F holdings — Q2 2026
$183.7M portfolio (+9.7% QoQ) · 40 holdings · Q2 2026 13F · top 10 are 43% of the stock portfolio
$13.5M
7.3% of stocks
-0.1%This quarter-28.5%Since filed7+ qtrsHeld$9.3M
5.0% of stocks
No changeThis quarter-12.7%Since filed7+ qtrsHeld$7.8M
4.3% of stocks
No changeThis quarter-2.2%Since filed7+ qtrsHeld$7.8M
4.2% of stocks
No changeThis quarter+30.2%Since filed2 qtrsHeld$7.3M
4.0% of stocks
No changeThis quarter+39.6%Since filed4 qtrsHeld$7.0M
3.8% of stocks
No changeThis quarter+1.2%Since filed3 qtrsHeld$6.8M
3.7% of stocks
No changeThis quarter-0.0%Since filed7+ qtrsHeld$6.7M
3.7% of stocks
No changeThis quarter-3.0%Since filed2 qtrsHeld$6.5M
3.5% of stocks
No changeThis quarter-14.5%Since filed7+ qtrsHeld$6.5M
3.5% of stocks
+142%This quarter-11.4%Since filed2 qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialAdded 2 qtrs in a row
All holdings — KESTREL INVESTMENT MANAGEMENT CORP (Q2 2026)
40 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated.
| # | Company | Held | Source | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 11 | Xenia Hotels & Resorts, Inc. | Consumer Discretionary | $6.0M | 3.3% | 295K | — | 7+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 12 | Covista Inc. | Consumer Discretionary | $5.9M | 3.2% | 47K | — | 7+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 13 | Brighthouse Financial, Inc. | Financials | $5.7M | 3.1% | 90K | — | 7+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 14 | Atkore Inc. | Technology | $5.6M | 3.1% | 74K | — | 6 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 15 | QCR HOLDINGS INC | Financials | $5.4M | 3.0% | 56K | — | 3 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 16 | Bristow Group Inc. | Industrials | $5.4M | 2.9% | 130K | — | 4 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 17 | WEX Inc. | Industrials | $5.2M | 2.8% | 37K | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 18 | TENET HEALTHCARE CORP | Healthcare | $5.1M | 2.8% | 27K | — | 7+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 19 | Ecovyst Inc. | Healthcare | $5.0M | 2.8% | 405K | — | 3 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 20 | ExlService Holdings, Inc. | Industrials | $4.4M | 2.4% | 172K | +99% | 2 qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 21 | Preferred Bankpreferred | Other | $4.2M | 2.3% | 40K | — | 7+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 22 | Koppers Holdings Inc. | Industrials | $3.7M | 2.0% | 83K | — | 6 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 23 | UPWORK, INC | Technology | $3.6M | 2.0% | 433K | — | 7+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 24 | AVANOS MEDICAL, INC. | Healthcare | $3.5M | 1.9% | 140K | — | 7+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 25 | Simply Good Foods Co | Consumer Staples | $3.4M | 1.9% | 258K | — | 3 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 26 | $CARS | Cars.com Inc. | Technology | $3.3M | 1.8% | 306K | — | |||
| 27 | $PBH | Prestige Consumer Healthcare Inc. | Healthcare | $3.3M | 1.8% | 70K | -0.1% | |||
| 28 | $MATW | MATTHEWS INTERNATIONAL CORP | Materials | $3.1M | 1.7% | 116K | -0.3% | |||
| 29 | $SAIC | Science Applications International Corp | Technology | $2.4M | 1.3% | 22K | — | |||
| 30 | $MTUS | Metallus Inc. | Materials | $2.4M | 1.3% | 130K | — | |||
| 31 | $SBSI | SOUTHSIDE BANCSHARES INC | Financials | $2.4M | 1.3% | 69K | — | |||
| 32 | $CCRN | CROSS COUNTRY HEALTHCARE INC | Industrials | $2.2M | 1.2% | 167K | — | |||
| 33 | $CNXC | Concentrix Corp | Industrials | $2.2M | 1.2% | 98K | — | |||
| 34 | $SLM | SLM Corp | Financials | $2.2M | 1.2% | 83K | New | |||
| 35 | $RAMP | LiveRamp Holdings, Inc. | Technology | $2.0M | 1.1% | 54K | New | |||
| 36 | $BLKB | BLACKBAUD INC | Technology | $1.8M | 1.0% | 61K | — | |||
| 37 | $GTM | ZoomInfo Technologies Inc. | Technology | $1.6M | 0.9% | 547K | — | |||
| 38 | $RLGT | RADIANT LOGISTICS, INC | Industrials | $1.2M | 0.7% | 128K | — | |||
| 39 | $HDSN | HUDSON TECHNOLOGIES INC /NY | Consumer Discretionary | $1.2M | 0.6% | 201K | — | |||
| 40 | $FORR | FORRESTER RESEARCH, INC. | Technology | $770K | 0.4% | 92K | — |
What changed in Q2 2026
Against the previous quarter's 13F: 3 new, 2 added to, 3 trimmed, 2 sold out. Share-count changes; largest moves by dollar size first.
New positions (3)
Added to (2)
Trimmed (3)
Holdings by quarter
Every 13F KESTREL INVESTMENT MANAGEMENT CORP has filed, 41 earlier quarters. Pick one to see what it held then.
Is it too late to follow KESTREL INVESTMENT MANAGEMENT?
Q2 2026 13F filed with the SEC on Aug 4, 2026. Prices are closing prices as of Oct 26, 2026.
Average quality of KESTREL INVESTMENT MANAGEMENT's top 20 holdings: 53/100 (our AI quality score, weighted by position size; 20 of the 20 are scored)
Top 10 since filing
-2.2%
Value-weighted move of the 10 largest stock positions
Turnover
8%
Last quarter; 40% over the last 4
Top 10 weight
43%
Share of the stock portfolio in its 10 largest positions
Held 4+ quarters
68%
Share of portfolio value in positions held a year or more
Highest-quality names it owns(among its 100 largest positions)
The 8 highest-scoring companies in this portfolio are a Pro feature.
How these are measured
- Moves since the quarter-end and since the filing date use our own daily closing prices, from the close on (or just before) each date to the latest close.
- Turnover is the lesser of shares bought or sold in a quarter, valued at the quarter-end prices in the 13F, divided by the average of the two quarters' stock portfolio values.
- Quarters held and add/trim streaks count back only through quarters whose filed holdings add up to the filing's own cover-page total (back to Q4 2024 for this fund). A change counts as an add or a trim when the split-adjusted share count moves by more than 1%.
- Estimate, not the fund's reported cost. For each quarter in the current holding period in which the fund's share count rose (split-adjusted), we take that quarter's average daily close and weight it by the shares added; sales do not change an average cost. Quarters where the stock's price history and the 13F's own implied price disagree by more than 2x are left out.
- Put and call option rows report the value of the underlying shares, not a position the fund paid for, so they are left out of all of the above.
Portfolio Overview
KESTREL INVESTMENT MANAGEMENT CORP disclosed 40 positions worth $183.7M in its Form 13F-HR for Q2 2026, led by $PHIN (PHINIA INC.) at 7.3% of the equity portfolio, followed by $AX and $CNO. During the quarter the fund opened 3 new positions and exited 2 — including a new stake in $WEX and a full exit from $TPH. The portfolio is most concentrated in Industrials (24.3% of disclosed assets). All figures are sourced directly from KESTREL INVESTMENT MANAGEMENT CORP’s Form 13F-HR filing with the SEC under CIK 917579.
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