KESTREL INVESTMENT MANAGEMENT CORP — 13F Holdings & Portfolio
CIK 917579 · latest 13F-HR filed 2026-08-04
KESTREL INVESTMENT MANAGEMENT CORP manages $183.7M in 13F-reported U.S. long-equity assets across 40 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are PHIN (7.33%), AX (5.04%), CNO (4.25%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 3 new positions, exited 2, added to 24, and trimmed 8.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
SUITE 403
SAN MATEO, CA 94402
$183.7M
Long-equity book
40
Distinct positions
2026-06-30
Filed 2026-08-04
+3 / −2 / ↑24 / ↓8
vs 2026-03-31
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- The Scotts Miracle-Gro Co$4.1M +170.9%
- Insight Enterprises Inc$3.5M +81.8%
- PHINIA Inc$2.3M +20.3%
- Haemonetics Corp$1.8M +33.1%
- ExlService Holdings Inc$1.8M +68.8%
Top Trims
- ZoomInfo Technologies Inc-$1.7M -51.0%
- Photronics Inc-$1.6M -19.5%
- Upwork Inc-$1.1M -23.7%
- Prestige Consumer Healthcare I-$845.3K -20.4%
- Bristow Group Inc-$722.4K -11.9%
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | PHINIA Inc | PHIN | 71880K101 | $13.5M | 7.33% | 163,500 | SH |
| 2 | Axos Financial Inc | AX | 05465C100 | $9.3M | 5.04% | 95,150 | SH |
| 3 | CNO Financial Group Inc | CNO | 12621E103 | $7.8M | 4.25% | 153,250 | SH |
| 4 | Insight Enterprises Inc | NSIT | 45765U103 | $7.8M | 4.23% | 63,750 | SH |
| 5 | Haemonetics Corp | HAE | 405024100 | $7.3M | 3.98% | 97,400 | SH |
| 6 | Integer Holdings Corp | ITGR | 45826H109 | $7.0M | 3.82% | 75,150 | SH |
| 7 | NCR Atleos Corp | NATL | 63001N106 | $6.8M | 3.71% | 156,850 | SH |
| 8 | TriMas Corp | TRS | 896215209 | $6.7M | 3.67% | 149,550 | SH |
| 9 | Photronics Inc | PLAB | 719405102 | $6.5M | 3.55% | 200,450 | SH |
| 10 | The Scotts Miracle-Gro Co | SMG | 810186106 | $6.5M | 3.52% | 95,050 | SH |
| 11 | Xenia Hotels and Resorts | XHR | 984017103 | $6.0M | 3.27% | 294,650 | SH |
| 12 | Covista Inc | CVSA | 00737L103 | $5.9M | 3.21% | 47,300 | SH |
| 13 | Brighthouse Financial Inc | BHF | 10922N103 | $5.7M | 3.12% | 90,400 | SH |
| 14 | Atkore Inc | ATKR | 047649108 | $5.6M | 3.07% | 74,150 | SH |
| 15 | QCR Holdings Inc | QCRH | 74727A104 | $5.4M | 2.95% | 55,650 | SH |
| 16 | Bristow Group Inc | VTOL | 11040G103 | $5.4M | 2.92% | 129,700 | SH |
| 17 | WEX Inc | WEX | 96208T104 | $5.2M | 2.83% | 36,900 | SH |
| 18 | Tenet Healthcare Corp | THC | 88033G407 | $5.1M | 2.77% | 27,175 | SH |
| 19 | Ecovyst Inc | ECVT | 27923Q109 | $5.0M | 2.75% | 405,400 | SH |
| 20 | ExlService Holdings Inc | EXLS | 302081104 | $4.4M | 2.42% | 171,900 | SH |
| 21 | Preferred Bank | PFBC | 740367404 | $4.2M | 2.30% | 39,750 | SH |
| 22 | Koppers Holdings Inc | KOP | 50060P106 | $3.7M | 2.04% | 83,450 | SH |
| 23 | Upwork Inc | UPWK | 91688F104 | $3.6M | 1.97% | 433,000 | SH |
| 24 | Avanos Medical Inc | AVNS | 05350V106 | $3.5M | 1.89% | 139,850 | SH |
| 25 | The Simply Good Foods Co | SMPL | 82900L102 | $3.4M | 1.87% | 258,050 | SH |
| 26 | Cars.com Inc | CARS | 14575E105 | $3.3M | 1.82% | 305,750 | SH |
| 27 | Prestige Consumer Healthcare I | PBH | 74112D101 | $3.3M | 1.80% | 69,950 | SH |
| 28 | Matthews International Corp | MATW | 577128101 | $3.1M | 1.69% | 115,500 | SH |
| 29 | Science App Intl Corp | SAIC | 808625107 | $2.4M | 1.33% | 22,150 | SH |
| 30 | Metallus Inc | MTUS | 887399103 | $2.4M | 1.32% | 130,000 | SH |
| 31 | Southside Bancshares Inc | SBSI | 84470P109 | $2.4M | 1.32% | 69,000 | SH |
| 32 | Cross Country Healthcare Inc | CCRN | 227483104 | $2.2M | 1.20% | 167,100 | SH |
| 33 | Concentrix Corp | CNXC | 20602D101 | $2.2M | 1.19% | 97,750 | SH |
| 34 | SLM Corp | SLM | 78442P106 | $2.2M | 1.17% | 83,050 | SH |
| 35 | LiveRamp Holdings Inc | RAMP | 53815P108 | $2.0M | 1.11% | 54,000 | SH |
| 36 | Blackbaud Inc | BLKB | 09227Q100 | $1.8M | 0.98% | 61,050 | SH |
| 37 | ZoomInfo Technologies Inc | GTM | 98980F104 | $1.6M | 0.87% | 547,100 | SH |
| 38 | Radiant Logistics Inc | RLGT | 75025X100 | $1.2M | 0.66% | 127,799 | SH |
| 39 | Hudson Technologies Inc | HDSN | 444144109 | $1.2M | 0.63% | 200,750 | SH |
| 40 | Forrester Research Inc | FORR | 346563109 | $769.5K | 0.42% | 91,500 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-08-04 | $183.7M | 40 | 0000917579-26-000004 |
| 2026-03-31 | 2026-05-05 | $167.5M | 39 | 0000917579-26-000003 |
| 2025-12-31 | 2026-02-03 | $176.4K | 40 | 0000917579-26-000001 |