SEC 13F Intelligence

Managers / Q3 2024 · view latest →

KESTREL INVESTMENT MANAGEMENT CORP

CIK 0000917579 · 411 BOREL AVE, SUITE 403, SAN MATEO, CA, 94402 · 6505729469

Reported Value
$173,746
Q3 2024
Positions
40
Filings on Record
30
2019–present window
Filed
Nov 12, 2024
original filing

Summary

Kestrel Investment Management Corp reported $173,746 in U.S.-listed holdings across 40 positions for Q3 2024.

Its largest position, CCSI, represents 5.2% of the portfolio.

Compared with Q2 2024, the fund opened 5 new positions and exited 2.

Portfolio Metrics

Turnover
+22.9%
vs prior filed quarter
Top-10 Concentration
+42.1%
share of reported value
Largest Position
+5.2%
Consensus Cloud Solns
New / Exited
5 / 2
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $199MQ4 ’18Q1 ’19: $216MQ2 ’19: $212MQ3 ’19: $201MQ4 ’19: $215MQ4 ’19Q1 ’20: $129MQ2 ’20: $157MQ3 ’20: $173MQ4 ’20: $205MQ4 ’20Q1 ’21: $239MQ2 ’21: $255MQ3 ’21: $210MQ4 ’21: $222MQ4 ’21Q1 ’22: $211MQ2 ’22: $174MQ3 ’22: $158MQ1 ’23: $177,714Q1 ’23Q2 ’23: $180,948Q3 ’23: $158,125Q4 ’23: $147,798Q1 ’24: $149,767Q1 ’24Q2 ’24: $150,968Q3 ’24: $173,746Q4 ’24: $181,163Q1 ’25: $163,739Q1 ’25Q2 ’25: $167,003Q3 ’25: $177,403Q4 ’25: $176,409filingsflow.com

Portfolio Composition

By security type
Common Stock: 97.3%REIT: 2.7%
  • Common Stock · 97.3% · $169,060
  • REIT · 2.7% · $4,686

Quarter-over-Quarter Changes full breakdown →

vs Q2 2024 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
2655957DPremier IncNEW+267.4K267.4K+$5,237$5,237
UPWKUpwork IncNEW+471.9K471.9K+$4,861$4,861
SHLSShoals Technologies Group IncNEW+851.2K851.2K+$4,710$4,710
HDSNHudson Technologies IncNEW+218.7K218.7K+$1,753$1,753
FORRForrester Research IncNEW+99.8K99.8K+$1,729$1,729
PBVPrestige Consumer Healthcare IADDED+40.0K76.3K+$2,932$5,436
DTMDT Midstream IncSOLD OUT−107.0K0−$7,598$0
IARTIntegra LifeSciences Hldgs CorSOLD OUT−99.3K0−$2,895$0

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q3 2024

40 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1CCSIConsensus Cloud Solns Inchistory →COM5.24%$9,10439.0K
2RLGTRadiant Logistics Inchistory →COM5.11%$8,876139.3K
3PHINPHINIA Inchistory →COM4.68%$8,128179.2K
4VCTRVictory Capital Hldgs Inchistory →COM4.30%$7,464136.0K
5CNXCNX Resources Corphistory →COM4.18%$7,256225.3K
6RDNRadian Group Inchistory →COM4.13%$7,168209.2K
7XPERXperi Inchistory →COM4.08%$7,08377.4K
8BB4Axos Financial Inchistory →COM3.71%$6,442104.0K
9COSCNO Financial Group Inchistory →COM3.34%$5,810167.3K
10DNBDun & Bradstreet Hldgs Inchistory →COM3.34%$5,804509.5K
11BLKBBlackbaud Inchistory →COM3.19%$5,54366.7K
12PBVPrestige Consumer Healthcare Ihistory →COM3.13%$5,43676.3K
132655957DPremier Inchistory →COM3.01%$5,237267.4K
14THCTenet Healthcare Corphistory →COM2.83%$4,91130.0K
15UPWKUpwork Inchistory →COM2.80%$4,861471.9K
16NATLNCR Atleos Corphistory →COM2.77%$4,820171.7K
17SHLSShoals Technologies Group Inchistory →COM2.71%$4,710851.2K
18XHRXenia Hotels and Resortshistory →COM2.70%$4,686322.1K
19EPCEdgewell Personal Care Cohistory →COM2.61%$4,537127.9K
20BHFBrighthouse Financial Inchistory →COM2.51%$4,35898.8K
21PRFTUSDPerficient Inchistory →COM2.37%$4,12155.8K
22BBTBerkshire Hills Bancorp Inchistory →COM2.26%$3,918147.8K
23AVNSAvanos Medical Inchistory →COM2.07%$3,605152.9K
24PFBCPreferred Bankhistory →COM1.97%$3,41643.5K
25VTSVitesse Energy Inchistory →COM1.91%$3,318141.1K
26SAICScience App Intl Corphistory →COM1.87%$3,24123.9K
27ADEAAdeia Inchistory →COM1.85%$3,220278.1K
28DRVNDriven Brands Hldgs Inchistory →COM1.84%$3,202228.6K
29PGNYProgyny Inchistory →COM1.76%$3,056187.2K
30ODP1The ODP Corphistory →COM1.67%$2,910100.2K
31SBSISouthside Bancshares Inchistory →COM1.40%$2,44075.1K
32XXYCross Country Healthcare Inchistory →COM1.37%$2,372182.5K
33MTUSMetallus Inchistory →COM1.17%$2,031142.4K
34HDSNHudson Technologies Inchistory →COM1.01%$1,753218.7K
35RNGRGBPRanger Energy Srvcs IncCOM1.00%$1,737151.8K
36IHPDine Brands Global IncCOM1.00%$1,72958.0K
37FORRForrester Research IncCOM1.00%$1,72999.8K
38AAMIBrightSphere Inv Group IncCOM0.96%$1,66468.3K
39CVSAAdtalem Global Educ IncCOM0.59%$1,032145.0K
40T86Tri Pointe Homes IncCOM0.59%$1,018240.2K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026Under review39May 5, 202613F-HRchanges · EDGAR ↗
Q4 2025$176,40940Feb 3, 202613F-HRchanges · EDGAR ↗
Q3 2025$177,40340Nov 12, 202513F-HRchanges · EDGAR ↗
Q2 2025$167,00341Jul 31, 202513F-HRchanges · EDGAR ↗
Q1 2025$163,73940May 8, 202513F-HRchanges · EDGAR ↗
Q4 2024$181,16340Feb 12, 202513F-HRchanges · EDGAR ↗
Q3 2024$173,74640Nov 12, 202413F-HRchanges · EDGAR ↗
Q2 2024$150,96837Aug 9, 202413F-HRchanges · EDGAR ↗
Q1 2024$149,76737May 2, 202413F-HRchanges · EDGAR ↗
Q4 2023$147,79837Jan 31, 202413F-HRchanges · EDGAR ↗
Q3 2023$158,12538Nov 7, 202313F-HRchanges · EDGAR ↗
Q2 2023$180,94838Aug 3, 202313F-HRchanges · EDGAR ↗
Q1 2023$177,71438May 10, 202313F-HRchanges · EDGAR ↗
Q4 2022Under review39Feb 1, 202313F-HRchanges · EDGAR ↗
Q3 2022$158M38Nov 10, 202213F-HRchanges · EDGAR ↗
Q2 2022$174M39Aug 9, 202213F-HRchanges · EDGAR ↗
Q1 2022$211M40May 6, 202213F-HRchanges · EDGAR ↗
Q4 2021$222M40Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$210M41Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$255M42Aug 12, 202113F-HRchanges · EDGAR ↗
Q1 2021$239M40May 6, 202113F-HRchanges · EDGAR ↗
Q4 2020$205M41Feb 11, 202113F-HRchanges · EDGAR ↗
Q3 2020$173M42Nov 12, 202013F-HRchanges · EDGAR ↗
Q2 2020$157M39Aug 13, 202013F-HRchanges · EDGAR ↗
Q1 2020$129M40May 13, 202013F-HRchanges · EDGAR ↗
Q4 2019$215M43Feb 13, 202013F-HRchanges · EDGAR ↗
Q3 2019$201M43Nov 13, 201913F-HRchanges · EDGAR ↗
Q2 2019$212M44Aug 13, 201913F-HRchanges · EDGAR ↗
Q1 2019$216M44May 13, 201913F-HRchanges · EDGAR ↗
Q4 2018$199M46Feb 13, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.