Kestrel Investment Management Corp.
Kestrel Investment Management Corp is an independent investment adviser based in San Mateo, California. The firm specializes in small- and mid-cap equity strategies, managing portfolios for institutional and high net worth clients. Founded in 1990, Kestrel is known for its disciplined, research-driven investment process and focus on long-term capital appreciation. As of 2025, the firm has approximately 7 employees and manages nearly $186 million in assets.
Investment Strategy
Kestrel Investment Management Corp employs a fundamentally-driven, bottom-up approach centered on undervalued small- and mid-cap companies. The firm emphasizes in-depth, proprietary research to identify companies with solid balance sheets and sustainable earnings growth that are temporarily underappreciated by the market. Kestrel seeks to deliver superior long-term returns while maintaining a rigorous risk control framework.
Top Holdings
Equity Positions (39)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
P PHIN | PHINIA Inc | 4.56% | $7.6M | 171,300 | $27.93 | $44.49 | +$17.0K |
A AX | Axos Financial Inc | 4.52% | $7.6M | 99,350 | $40.70 | $76.04 | +$841.0K |
T TPH | Tri Pointe Homes Inc | 4.39% | $7.3M | 229,450 | $18.55 | $31.95 | -$336.0K |
R RDN | Radian Group Inc | 4.31% | $7.2M | 199,700 | $22.88 | $36.02 | +$275.0K |
A ATGE | Adtalem Global Educ Inc | 3.76% | $6.3M | 49,300 | $38.42 | $127.23 | +$1.1M |