KESTREL GROUP LTD

Ticker: KG CUSIP: G5260K102 Class: Common Stock

Holders for Q4 2025 Position Changes for Q4 2025

Note: Option positions (PUT/CALL) are excluded.

New Positions (5)

Camelot Portfolios, LLC
Value ($000) $40 Shares 3,877
Advisory Services Network, LLC
Value ($000) $520 Shares 50,793
BARCLAYS PLC
Value ($000) $43 Shares 4,219
JONES FINANCIAL COMPANIES LLLP
Value ($000) $1 Shares 75
Bangor Savings Bank
Value ($000) $1 Shares 57

Increased Positions (14)

BlackRock, Inc.
Value ($000) $2,874 (-58.6%) Shares 280,628 (+10.5%)
MORGAN STANLEY
Value ($000) $278 (+32.6%) Shares 27,158 (+253.7%)
UBS Group AG
Value ($000) $132 (+234.5%) Shares 12,872 (+792.0%)
VANGUARD GROUP INC
Value ($000) $3,251 (-61.6%) Shares 317,452 (+2.4%)
DIMENSIONAL FUND ADVISORS LP
Value ($000) $888 (-61.5%) Shares 86,686 (+2.7%)
Russell Investments Group, Ltd.
Value ($000) $30 (+1.8%) Shares 2,977 (+171.4%)
WELLS FARGO & COMPANY/MN
Value ($000) $30 (-36.4%) Shares 2,971 (+69.7%)
BANK OF AMERICA CORP /DE/
Value ($000) $23 (-34.4%) Shares 2,264 (+74.8%)
STATE STREET CORP
Value ($000) $661 (-62.1%) Shares 64,549 (+1.0%)
FMR LLC
Value ($000) $9 (-17.0%) Shares 914 (+121.3%)
Tower Research Capital LLC (TRC)
Value ($000) $11 (-53.8%) Shares 1,027 (+23.1%)
BNP PARIBAS ARBITRAGE, SA
Value ($000) $6 (-47.4%) Shares 627 (+40.3%)
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.
Value ($000) $13 (-61.2%) Shares 1,297 (+3.5%)
Sterling Capital Management LLC
Value ($000) $1 (-55.2%) Shares 55 (+19.6%)

Decreased Positions (10)

Sowell Financial Services LLC
Value ($000) $212 (-66.6%) Shares 20,661 (-10.8%)
NORTHERN TRUST CORP
Value ($000) $268 (-66.8%) Shares 26,215 (-11.5%)
RENAISSANCE TECHNOLOGIES LLC
Value ($000) $130 (-69.9%) Shares 12,648 (-19.7%)
RHUMBLINE ADVISERS
Value ($000) $23 (-73.3%) Shares 2,265 (-28.7%)
ROYAL BANK OF CANADA
Value ($000) $3 (-91.2%) Shares 379 (-69.6%)
CITIGROUP INC
Value ($000) $1 (-93.4%) Shares 61 (-82.5%)
CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM
Value ($000) $2 (-80.6%) Shares 165 (-48.3%)
GAMMA Investing LLC
Value ($000) $1 (-79.7%) Shares 103 (-45.8%)
CWM, LLC
Value ($000) $0 (-100.0%) Shares 12 (-99.0%)
AMALGAMATED BANK
Value ($000) $0 (-75.0%) Shares 85 (-44.4%)

Exited Positions (9)

Creative Planning
Value ($000) $293 Shares 10,744
CITADEL ADVISORS LLC
Value ($000) $293 Shares 10,720
CHARLES SCHWAB INVESTMENT MANAGEMENT INC
Value ($000) $280 Shares 10,256
Fortitude Family Office, LLC
Value ($000) $1 Shares 36
PNC Financial Services Group, Inc.
Value ($000) $1 Shares 29
SRS Capital Advisors, Inc.
Value ($000) $1 Shares 26
EverSource Wealth Advisors, LLC
Value ($000) $0 Shares 8
Transamerica Financial Advisors, Inc.
Value ($000) $0 Shares 5
Allworth Financial LP
Value ($000) $0 Shares 5