2026 Q3 Portfolio Activity
In 2026 Q3, KESTREL INVESTMENT MANAGEMENT CORP maintained a portfolio of 43 distinct positions. The most significant new addition was FTI Consulting Inc, now representing 2.91% of the total fund value. They heavily accumulated shares in SLM Corp, increasing the position by 178.1%. Conversely, KESTREL INVESTMENT MANAGEMENT CORP completely exited their position in Photronics Inc.
Position History
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Total Positions
43
Quarter
2026 Q3
Top Holding
HAE (5.5%)
Top 10 Concentration
45.3%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-43 of 43
KESTREL INVESTMENT MANAGEMENT CORP Full Holdings List — 2026 Q3
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
HAE
Haemonetics Cor...
|
Healthcare | 5.49% | 3.98% |
#1
4
Prev: #5
|
4.7 |
—
|
-7,000 | -7.2% |
P
S
|
90,400 | $9,519,120 | 2002 Q4 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
NSIT
Insight Enterpr...
|
Technology | 5.41% | 4.23% |
#2
2
Prev: #4
|
4.2 |
—
|
-3,800 | -6.0% |
P
S
|
59,950 | $9,371,384 | 2026 Q1 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
PHIN
PHINIA Inc
|
Consumer Cyclical | 5.30% | 7.33% |
#3
2
Prev: #1
|
3.6 |
—
|
-8,800 | -5.4% |
P
S
|
154,700 | $9,193,821 | 2023 Q3 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
ITGR
Integer Holding...
|
Healthcare | 5.12% | 3.82% |
#4
2
Prev: #6
|
3.0 |
—
|
-4,900 | -6.5% |
P
S
|
70,250 | $8,876,088 | 2025 Q4 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
AX
Axos Financial ...
|
Financial Services | 4.52% | 5.04% |
#5
3
Prev: #2
|
2.8 |
—
|
-4,600 | -4.8% |
P
S
|
90,550 | $7,838,914 | 2023 Q2 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
CNO
CNO Financial G...
|
Financial Services | 4.42% | 4.25% |
#6
3
Prev: #3
|
2.3 |
—
|
-8,300 | -5.4% |
P
S
|
144,950 | $7,669,305 | 2015 Q1 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
THC
Tenet Healthcar...
|
Healthcare | 3.95% | 2.77% |
#7
11
Prev: #18
|
2.1 |
—
|
-400 | -1.5% |
P
S
|
26,775 | $6,842,619 | 2022 Q4 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
NATL
NCR Atleos Corp
|
Technology | 3.87% | 3.71% |
#8
1
Prev: #7
|
2.0 |
—
|
-8,300 | -5.3% |
P
S
|
148,550 | $6,711,489 | 2023 Q4 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
ATKR
Atkore Inc
|
Industrials | 3.80% | 3.07% |
#9
5
Prev: #14
|
2.0 |
—
|
-4,700 | -6.3% |
P
S
|
69,450 | $6,580,388 | 2025 Q1 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
WEX
WEX Inc
|
Technology | 3.38% | 2.83% |
#10
7
Prev: #17
|
1.9 |
—
|
-2,200 | -6.0% |
P
S
|
34,700 | $5,853,890 | 2026 Q2 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
EXLS
ExlService Hold...
|
Technology | 3.15% | 2.42% |
#11
9
Prev: #20
|
1.8 |
—
|
-13,100 | -7.6% |
P
S
|
158,800 | $5,459,544 | 2014 Q1 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
ATGE
Covista Inc
|
Consumer Defensive | 3.14% | 3.21% |
#12
Prev: #12
|
1.8 |
—
|
-2,800 | -5.9% |
P
S
|
44,500 | $5,437,900 | 2022 Q2 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
TRS
TriMas Corp
|
Consumer Cyclical | 3.10% | 3.67% |
#13
5
Prev: #8
|
1.7 |
—
|
-10,400 | -7.0% |
P
S
|
139,150 | $5,370,494 | 2026 Q1 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
SLM
SLM Corp
|
Financial Services | 3.01% | 1.17% |
#14
20
Prev: #34
|
4.2 |
—
|
147,900 | 178.1% |
P
S
|
230,950 | $5,226,399 | 2014 Q3 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
XHR
Xenia Hotels an...
|
Real Estate | 2.93% | 3.27% |
#15
4
Prev: #11
|
1.7 |
—
|
-13,600 | -4.6% |
P
S
|
281,050 | $5,075,763 | 2015 Q1 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
FCN
FTI Consulting ...
|
Industrials | 2.91% | — |
#16
Prev: #—
|
4.7 |
—
|
37,450 | — |
NEW
|
37,450 | $5,037,400 | 2026 Q3 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
QCRH
QCR Holdings In...
|
Financial Services | 2.90% | 2.95% |
#17
2
Prev: #15
|
1.7 |
—
|
-4,300 | -7.7% |
P
S
|
51,350 | $5,025,881 | 2025 Q4 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
VTOL
Bristow Group I...
|
Energy | 2.81% | 2.92% |
#18
2
Prev: #16
|
1.6 |
—
|
-10,100 | -7.8% |
P
S
|
119,600 | $4,870,112 | 2025 Q3 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
SMG
The Scotts Mira...
|
Basic Materials | 2.57% | 3.52% |
#19
9
Prev: #10
|
1.5 |
—
|
-6,300 | -6.6% |
P
S
|
88,750 | $4,447,263 | 2026 Q1 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
BHF
Brighthouse Fin...
|
Financial Services | 2.46% | 3.12% |
#20
7
Prev: #13
|
1.5 |
—
|
-5,100 | -5.6% |
P
S
|
85,300 | $4,256,470 | 2021 Q1 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
PFBC
Preferred Bank
|
Financial Services | 2.29% | 2.30% |
#21
Prev: #21
|
1.4 |
—
|
-1,900 | -4.8% |
P
S
|
37,850 | $3,964,031 | 2024 Q1 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
ECVT
Ecovyst Inc
|
Basic Materials | 2.14% | 2.75% |
#22
3
Prev: #19
|
1.4 |
—
|
-27,900 | -6.9% |
P
S
|
377,500 | $3,710,825 | 2025 Q4 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
KOP
Koppers Holding...
|
Basic Materials | 2.07% | 2.04% |
#23
1
Prev: #22
|
1.3 |
—
|
-4,800 | -5.8% |
P
S
|
78,650 | $3,585,654 | 2021 Q3 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
UPWK
Upwork Inc
|
Communication Services | 1.92% | 1.97% |
#24
1
Prev: #23
|
1.3 |
—
|
-25,600 | -5.9% |
P
S
|
407,400 | $3,324,384 | 2024 Q3 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
CARS
Cars.com Inc
|
Communication Services | 1.68% | 1.82% |
#25
1
Prev: #26
|
1.2 |
—
|
-22,700 | -7.4% |
P
S
|
283,050 | $2,906,924 | 2025 Q4 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
OPCH
Option Care Hea...
|
Healthcare | 1.57% | — |
#26
Prev: #—
|
4.1 |
—
|
120,725 | — |
NEW
|
120,725 | $2,715,105 | 2026 Q3 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
SAIC
Science App Int...
|
Technology | 1.42% | 1.33% |
#27
2
Prev: #29
|
1.1 |
—
|
-2,800 | -12.6% |
P
S
|
19,350 | $2,468,286 | 2022 Q3 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
BLKB
Blackbaud Inc
|
Technology | 1.39% | 0.98% |
#28
8
Prev: #36
|
1.1 |
—
|
-3,200 | -5.2% |
P
S
|
57,850 | $2,407,717 | 2024 Q2 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
MTUS
Metallus Inc
|
Basic Materials | 1.34% | 1.32% |
#29
1
Prev: #30
|
1.0 |
—
|
-7,900 | -6.1% |
P
S
|
122,100 | $2,318,679 | 2024 Q2 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
SMPL
The Simply Good...
|
Consumer Defensive | 1.33% | 1.87% |
#30
5
Prev: #25
|
1.0 |
—
|
-14,300 | -5.5% |
P
S
|
243,750 | $2,313,188 | 2025 Q4 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
CNXC
Concentrix Corp
|
Technology | 1.31% | 1.19% |
#31
2
Prev: #33
|
1.0 |
—
|
-6,900 | -7.1% |
P
S
|
90,850 | $2,266,708 | 2025 Q1 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
MATW
Matthews Intern...
|
Industrials | 1.19% | 1.69% |
#32
4
Prev: #28
|
1.0 |
—
|
-7,700 | -6.7% |
P
S
|
107,800 | $2,068,682 | 2010 Q2 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
SBSI
Southside Bancs...
|
Financial Services | 1.13% | 1.32% |
#33
2
Prev: #31
|
1.0 |
—
|
-4,000 | -5.8% |
P
S
|
65,000 | $1,955,200 | 2023 Q1 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
GTM
ZoomInfo Techno...
|
Technology | 1.11% | 0.87% |
#34
3
Prev: #37
|
0.9 |
—
|
-41,500 | -7.6% |
P
S
|
505,600 | $1,916,224 | 2025 Q2 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
FOUR
Shift4 Payments...
|
Technology | 1.10% | — |
#35
Prev: #—
|
3.9 |
—
|
52,600 | — |
NEW
|
52,600 | $1,902,542 | 2026 Q3 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
RAMP
LiveRamp Holdin...
|
Technology | 1.06% | 1.11% |
#36
1
Prev: #35
|
0.9 |
—
|
-5,200 | -9.6% |
P
S
|
48,800 | $1,830,976 | 2026 Q2 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
RLGT
Radiant Logisti...
|
Industrials | 0.63% | 0.66% |
#37
1
Prev: #38
|
0.8 |
—
|
-1,800 | -1.4% |
P
S
|
125,999 | $1,094,931 | 2018 Q2 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
HDSN
Hudson Technolo...
|
Basic Materials | 0.57% | 0.63% |
#38
1
Prev: #39
|
0.7 |
—
|
-8,100 | -4.0% |
P
S
|
192,650 | $992,148 | 2024 Q3 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
FORR
Forrester Resea...
|
Industrials | 0.56% | 0.42% |
#39
1
Prev: #40
|
0.7 |
—
|
-7,100 | -7.8% |
P
S
|
84,400 | $971,444 | 2024 Q3 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
CCRN
Cross Country H...
|
Healthcare | 0.00% | 1.20% |
Sold All 😨
(Was: #32) |
0.0 |
—
|
-167,100 | -100.0% |
CLOSED
|
— | $— | 2023 Q3 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
PBH
Prestige Consum...
|
Healthcare | 0.00% | 1.80% |
Sold All 😨
(Was: #27) |
0.0 |
—
|
-69,950 | -100.0% |
CLOSED
|
— | $— | 2018 Q3 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
AVNS
Avanos Medical ...
|
Healthcare | 0.00% | 1.89% |
Sold All 😨
(Was: #24) |
0.0 |
—
|
-139,850 | -100.0% |
CLOSED
|
— | $— | 2023 Q4 | 13F Filing | 2026-09-30 | 2026-11-02 | |||
|
PLAB
Photronics Inc
|
Technology | 0.00% | 3.55% |
Sold All 😨
(Was: #9) |
0.0 |
—
|
-200,450 | -100.0% |
CLOSED
|
— | $— | 2024 Q4 | 13F Filing | 2026-09-30 | 2026-11-02 |
Showing 1-43 of 43 holdings