KESTREL INVESTMENT MANAGEMENT CORP

Q4 2025 13F-HR Holdings

Location
San Mateo, CA
Holdings as of
12/31/2025
Date filed
2/3/2026
Form type
13F-HR
Num holdings
40
Total value ($000)
$176,409
Net value change ($000)
-994 (-0.6%)
New positions
6
Sold out positions
6
Turnover %
29.5%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/12/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
ITGR 5,933 NEW
CXW 5,601 NEW
QCRH 4,636 NEW
ECVT 3,965 NEW
CARS 3,752 NEW
HAE 2,901 58.5%
SMPL 2,722 NEW
PLAB 1,660 34.6%
BHF 891 17.8%
PHIN 523 5.3%
Top Reduces (Value $000, Stocks/ETFs)
PINC -7,098 -100.0%
MDU -5,513 -100.0%
PGNY -3,844 -100.0%
BBT -3,342 -100.0%
DRVN -3,226 -100.0%
ATGE -2,689 -35.3%
EPC -2,487 -100.0%
CCRN -1,110 -44.8%
TPH -823 -10.6%
HDSN -693 -33.4%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type