Stilwell Value LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Stilwell Value LLC reported 28 stock positions worth $115.5 million. Its top holding was Kingsway (KWY) at 39.1% of the portfolio, followed by Sound Financial Bancorp (SFBC, 17.8%) and Provident Bancorp (PVBC, 17.0%). Compared with Q4 2024, it opened 1 new position, sold out of 3, added to 2 and reduced 1. The biggest buy was If Bancorp (IROQ, shares +1%) and the biggest sale Kingsway (KWY, shares −15%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001397076
- Portfolio Value
- $115.5M (Q1 2025)
- SEC Filing
- 0001415889-25-012859 ↗ filed May 14, 2025
Holdings Value
Holdings 28 stocks · $115.5M
| KWY Kingsway Corp. | 39.10% | 5,700,527 | $45.1M | Reduce -14.9% |
| SFBC Sound Financial Bancorp Inc. | 17.81% | 410,019 | $20.6M | No change |
| PVBC Provident Bancorp Inc. | 16.96% | 1,706,467 | $19.6M | No change |
| IROQ If Bancorp Inc. | 6.11% | 292,925 | $7.1M | Add +0.6% |
| CPBI Central Plains Bancshares Inc. | 4.03% | 311,899 | $4.7M | Add +1.5% |
| FSBW FS Bancorp Inc. | 2.57% | 78,000 | $3.0M | No change |
| NECB Northeast Community Bancorp | 2.23% | 110,000 | $2.6M | No change |
| LSBK Lake Shore Bancorp Inc. | 1.67% | 121,893 | $1.9M | No change |
| BVFL BV Financial Inc. filed as BV FINL INC | 1.32% | 100,000 | $1.5M | No change |
| NBBK NB Bancorp Inc. | 1.25% | 80,000 | $1.4M | No change |
| FSFG First Savings Financial Grp | 1.17% | 52,500 | $1.4M | No change |
| HFBL Home Federal Bancorp Inc. | 0.90% | 80,000 | $1.0M | No change |
| FDSB Fifth District Bancorp Inc. | 0.85% | 80,000 | $976K | No change |
| MGYR Magyar Bancorp Inc. | 0.48% | 40,000 | $556K | No change |
| BCOW 1895 Bancorp of Wisconsin Inc. | 0.45% | 50,000 | $515K | No change |
| SRBK Sr Bancorp Inc. | 0.41% | 40,000 | $477K | No change |
| ESSA Essa Bancorp Inc. | 0.41% | 25,000 | $471K | No change |
| CLST Catalyst Bancorp Inc. | 0.40% | 39,991 | $466K | No change |
| PBBK PB Bankshares Inc. | 0.39% | 27,431 | $451K | No change |
| RMBI Richmond Mutual Bancorporati | 0.33% | 30,000 | $384K | No change |
| PDLB Ponce Financial Group Inc. | 0.33% | 30,000 | $380K | No change |
| ECBK Ecb Bancorp Inc. | 0.26% | 20,000 | $303K | No change |
| HONE Harborone Bancorp Inc. | 0.25% | 27,883 | $289K | No change |
| FBLA FB Bancorp Inc. | 0.20% | 20,000 | $225K | No change |
| CFSB CFSB Bancorp Inc. | 0.07% | 10,000 | $76K | No change |
| PFG Principal Financial Group | 0.04% | 547 | $46K | No change |
| WHEELER REAL ESTATE INVT TR | 0.01% | 2,351 | $7K | New |
| MET Metlife Inc. | 0.00% | 60 | $5K | No change |
Other holdings (2): bonds, preferreds, convertibles and warrants · $79.1M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| WHEELER REIT INC (WHLR 7 12/31/31) | 7% SR NT 31 | 1,011,690 | $75.9M | No change |
| WHEELER REIT INC (WHLR 9 PERP B) | CV PFD SER B | 808,377 | $3.2M | Reduce -1.1% |
Total filed on the 13F, all lines: $194.6M.
Portfolio Sells Q4 2024 → Q1 2025
| KWY Kingsway Corp. | Reduce -14.9% | 39.10% | −4.46 |
| GBNY Generations Bancorp NY Inc. | Sold out | 0.00% | −0.94 |
| WHEELER REAL ESTATE INVT TR | Sold out | 0.00% | −0.12 |
| ICCH Icc Holdings Inc. | Sold out | 0.00% | −0.00 |
Portfolio Buys Q4 2024 → Q1 2025
| IROQ If Bancorp Inc. | Add +0.6% | 6.11% | +0.84 |
| CPBI Central Plains Bancshares Inc. | Add +1.5% | 4.03% | +0.46 |
| WHEELER REAL ESTATE INVT TR | New | 0.01% | +0.01 |
Notes & Other Activity Q4 2024 → Q1 2025
| WHEELER REIT INC (WHLR 9 PERP B) | CV PFD SER B | Reduce -1.1% | 808,377 | $3.2M |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 22 | $95.8M | KWY, SFBC, LSBK, CPBI, CLST |
| Q1 2026 | 23 | $91.0M | KWY, SFBC, LSBK, CPBI, CLST |
| Q4 2025 | 22 | $106.7M | KWY, SFBC, LSBK, IROQ, CPBI |
| Q3 2025 | 28 | $138.2M | KWY, SFBC, LSBK, IROQ, CPBI |
| Q2 2025 | 28 | $130.8M | KWY, SFBC, IROQ, CPBI, WHEELER REAL ESTATE INVT TR |
| Q1 2025 | 28 | $115.5M | KWY, SFBC, PVBC, IROQ, CPBI |
| Q4 2024 | 30 | $128.8M | KWY, SFBC, PVBC, IROQ, CPBI |
| Q3 2024 | 31 | $133.6M | KWY, SFBC, PVBC, IROQ, FSBW |
| Q2 2024 | 32 | $125.8M | KWY, PVBC, SFBC, WHEELER REAL ESTATE INVT TR, FSBW |
| Q1 2024 | 33 | $130.3M | KWY, SFBC, PVBC, WHEELER REAL ESTATE INVT TR, ICCH |