Skip to content
Disclosery

KESTREL INVESTMENT MANAGEMENT CORP

Follow

13F filer, CIK 917579, SAN MATEO, CA

KESTREL INVESTMENT MANAGEMENT CORP reported $163,739,000 across 40 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-05-08. Its ten largest share positions make up 40.16% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0000917579-25-000002

Period
2025-03-31
Reported value
$164M
Holdings
40
Top 10 weight
40.16%
New
4
Sold out
4

Largest buys vs the previous quarter

SecurityShares changeApprox. value
CNXCnew+106,950$5.95M
ATKRnew+80,850$4.85M
MRC GLOBAL INCnew+400,850$4.6M
KOPnew+90,550$2.54M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
CVSAreduced-93,400-$9.4M
CNXexited-225,250-$8.26M
VTSexited-141,050-$3.53M
DINexited-57,950-$1.74M
CCSIexited-39,000-$931K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2025

Share positions as resolved from 13F-HR 0000917579-25-000002, largest first. % of portfolio is the value over $163,739,000, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
TPHTRI POINTE HOMES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 240,150 shares; 2024Q4: 240,150 shares; 2025Q1: 240,150 shares 240,150$7.67M4.68%0Timeline
PHINPHINIA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 179,200 shares; 2024Q4: 179,200 shares; 2025Q1: 179,200 shares 179,200$7.6M4.64%0Timeline
CNOCNO FINL GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 167,250 shares; 2024Q4: 167,250 shares; 2025Q1: 167,250 shares 167,250$6.97M4.25%0Timeline
RDNRADIAN GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 209,200 shares; 2024Q4: 209,200 shares; 2025Q1: 209,200 shares 209,200$6.92M4.23%0Timeline
AXAXOS FINANCIAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 104,050 shares; 2024Q4: 104,050 shares; 2025Q1: 104,050 shares 104,050$6.71M4.1%0Timeline
PBHPRESTIGE CONSMR HEALTHCARE IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 76,350 shares; 2024Q4: 76,350 shares; 2025Q1: 76,350 shares 76,350$6.56M4.01%0Timeline
UPWKUPWORK INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 471,900 shares; 2024Q4: 471,900 shares; 2025Q1: 471,900 shares 471,900$6.16M3.76%0Timeline
CNXCCONCENTRIX CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 106,950 shares 106,950$5.95M3.63%newTimeline
BHFBRIGHTHOUSE FINL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 98,800 shares; 2024Q4: 98,800 shares; 2025Q1: 98,800 shares 98,800$5.73M3.5%0Timeline
MDUMDU RES GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 324,300 shares; 2025Q1: 324,300 shares 324,300$5.48M3.35%0Timeline
CVSACOVISTA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 145,000 shares; 2024Q4: 145,000 shares; 2025Q1: 51,600 shares 51,600$5.19M3.17%-93,400Timeline
PREMIER INCPREMIER INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 267,350 shares; 2024Q4: 267,350 shares; 2025Q1: 267,350 shares 267,350$5.16M3.15%0
ATKRATKORE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 80,850 shares 80,850$4.85M2.96%newTimeline
THSTREEHOUSE FOODS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 172,450 shares; 2025Q1: 172,450 shares 172,450$4.67M2.85%0Timeline
MRC GLOBAL INCMRC GLOBAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 400,850 shares 400,850$4.6M2.81%new
DUN & BRADSTREET HLDGS INCDUN & BRADSTREET HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 509,500 shares; 2024Q4: 509,500 shares; 2025Q1: 509,500 shares 509,500$4.55M2.78%0
PLABPHOTRONICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 219,150 shares; 2025Q1: 219,150 shares 219,150$4.55M2.78%0Timeline
NATLNCR ATLEOS CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 171,650 shares; 2024Q4: 171,650 shares; 2025Q1: 171,650 shares 171,650$4.53M2.77%0Timeline
PGNYPROGYNY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 187,150 shares; 2024Q4: 187,150 shares; 2025Q1: 187,150 shares 187,150$4.18M2.55%0Timeline
BLKBBLACKBAUD INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 66,650 shares; 2024Q4: 66,650 shares; 2025Q1: 66,650 shares 66,650$4.13M2.53%0Timeline
THCTENET HEALTHCARE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 29,975 shares; 2024Q4: 29,975 shares; 2025Q1: 29,975 shares 29,975$4.03M2.46%0Timeline
EPCEDGEWELL PERSONAL CARE COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 127,900 shares; 2024Q4: 127,900 shares; 2025Q1: 127,900 shares 127,900$3.99M2.44%0Timeline
DRVNDRIVEN BRANDS HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 228,600 shares; 2024Q4: 228,600 shares; 2025Q1: 228,600 shares 228,600$3.92M2.39%0Timeline
BBTBEACON FINANCIAL CORP.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 147,750 shares; 2024Q4: 147,750 shares; 2025Q1: 147,750 shares 147,750$3.85M2.35%0Timeline
XHRXENIA HOTELS & RESORTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 322,050 shares; 2024Q4: 322,050 shares; 2025Q1: 322,050 shares 322,050$3.79M2.31%0Timeline
ADEAADEIA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 278,113 shares; 2024Q4: 278,113 shares; 2025Q1: 278,113 shares 278,113$3.68M2.25%0Timeline
PFBCPREFERRED BK LOS ANGELES CAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 43,450 shares; 2024Q4: 43,450 shares; 2025Q1: 43,450 shares 43,450$3.64M2.22%0Timeline
SHLSSHOALS TECHNOLOGIES GROUP INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 851,200 shares; 2024Q4: 851,200 shares; 2025Q1: 851,200 shares 851,200$2.83M1.73%0Timeline
CCRNCROSS CTRY HEALTHCARE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 182,500 shares; 2024Q4: 182,500 shares; 2025Q1: 182,500 shares 182,500$2.72M1.66%0Timeline
SAICSCIENCE APPLICATIONS INTL COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 23,850 shares; 2024Q4: 23,850 shares; 2025Q1: 23,850 shares 23,850$2.68M1.64%0Timeline
KOPKOPPERS HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 90,550 shares 90,550$2.54M1.55%newTimeline
AVNSAVANOS MED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 152,950 shares; 2024Q4: 152,950 shares; 2025Q1: 152,950 shares 152,950$2.19M1.34%0Timeline
SBSISOUTHSIDE BANCSHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 75,100 shares; 2024Q4: 75,100 shares; 2025Q1: 75,100 shares 75,100$2.17M1.33%0Timeline
RNGRRANGER ENERGY SVCS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 151,800 shares; 2024Q4: 151,800 shares; 2025Q1: 151,800 shares 151,800$2.15M1.32%0Timeline
MTUSMETALLUS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 142,400 shares; 2024Q4: 142,400 shares; 2025Q1: 142,400 shares 142,400$1.9M1.16%0Timeline
AAMIACADIAN ASSET MANAGEMENT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 68,281 shares; 2024Q4: 68,281 shares; 2025Q1: 68,281 shares 68,281$1.76M1.08%0Timeline
HDSNHUDSON TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 218,650 shares; 2024Q4: 218,650 shares; 2025Q1: 218,650 shares 218,650$1.35M0.82%0Timeline
FORRFORRESTER RESH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 99,800 shares; 2024Q4: 99,800 shares; 2025Q1: 99,800 shares 99,800$922K0.56%0Timeline
RLGTRADIANT LOGISTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 139,299 shares; 2024Q4: 139,299 shares; 2025Q1: 139,299 shares 139,299$856K0.52%0Timeline
XPERXPERI INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 77,421 shares; 2024Q4: 77,421 shares; 2025Q1: 77,421 shares 77,421$598K0.37%0Timeline

Sold out in Q1 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
CNXCNX RES CORP225,250$8.26Mshares
VTSVITESSE ENERGY INC141,050$3.53Mshares
DINDINE BRANDS GLOBAL INC57,950$1.74Mshares
CCSICONSENSUS CLOUD SOLUTIONS IN39,000$931Kshares

How Q1 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0000917579-25-000002 base2025-05-08acceptance time not in the bulk data set