KESTREL INVESTMENT MANAGEMENT CORP

Q1 2026 13F-HR Holdings

Location
San Mateo, CA
Holdings as of
3/31/2026
Date filed
5/5/2026
Form type
13F-HR
Num holdings
39
Total value ($000)
$167,466
Net value change ($000)
-8,943 (-5.1%)
New positions
4
Sold out positions
5
Turnover %
21.8%
Sector allocation + QoQ delta (equities-only)
Prev filing: 2/3/2026 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q4 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)
TRS 5,375 NEW
NSIT 4,272 NEW
TPH 3,311 47.5%
EXLS 2,634 NEW
SMG 2,390 NEW
PLAB 1,640 25.4%
VTOL 1,303 27.3%
ECVT 1,248 31.5%
SMPL 981 36.0%
KOP 960 42.3%
Top Reduces (Value $000, Stocks/ETFs)
RDN -6,940 -100.0%
CXW -5,601 -100.0%
UPWK -3,885 -45.0%
THS -3,750 -100.0%
OCFC -3,537 -100.0%
HAE -2,373 -30.2%
GTM -2,338 -41.7%
RNGR -1,952 -100.0%
BLKB -1,541 -39.5%
CNXC -1,419 -34.7%
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