Stilwell Value LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 6, 2025), Stilwell Value LLC reported 28 stock positions worth $130.8 million. Its top holding was Kingsway (KWY) at 57.3% of the portfolio, followed by Sound Financial Bancorp (SFBC, 14.4%) and If Bancorp (IROQ, 5.5%). Compared with Q1 2025, it opened 3 new positions, sold out of 3, added to 3 and reduced 3. The biggest buy was a new position in Wheeler Real Estate Invt TR and the biggest sale Provident Bancorp (PVBC, shares −90%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001397076
- Portfolio Value
- $130.8M (Q2 2025)
- SEC Filing
- 0001415889-25-021171 ↗ filed Aug 6, 2025
Holdings Value
Holdings 28 stocks · $130.8M
| KWY Kingsway Corp. | 57.32% | 5,539,306 | $75.0M | Reduce -2.8% |
| SFBC Sound Financial Bancorp Inc. | 14.42% | 410,019 | $18.9M | No change |
| IROQ If Bancorp Inc. | 5.46% | 293,425 | $7.1M | Add +0.2% |
| CPBI Central Plains Bancshares Inc. | 4.19% | 362,475 | $5.5M | Add +16.2% |
| WHEELER REAL ESTATE INVT TR | 2.49% | 537,616 | $3.3M | New |
| FSBW FS Bancorp Inc. | 2.35% | 78,000 | $3.1M | No change |
| NECB Northeast Community Bancorp | 1.95% | 110,000 | $2.6M | No change |
| PVBC Provident Bancorp Inc. | 1.70% | 177,891 | $2.2M | Reduce -89.6% |
| LSBK Lake Shore Bancorp Inc. | 1.47% | 121,893 | $1.9M | No change |
| BVFL BV Financial Inc. filed as BV FINL INC | 1.16% | 100,000 | $1.5M | No change |
| NBBK NB Bancorp Inc. | 1.09% | 80,000 | $1.4M | No change |
| FSFG First Savings Financial Grp | 1.00% | 52,500 | $1.3M | No change |
| HFBL Home Federal Bancorp Inc. | 0.83% | 80,000 | $1.1M | No change |
| FDSB Fifth District Bancorp Inc. | 0.76% | 80,000 | $988K | No change |
| CLST Catalyst Bancorp Inc. | 0.74% | 77,937 | $966K | Add +94.9% |
| MGYR Magyar Bancorp Inc. | 0.51% | 40,000 | $667K | No change |
| SRBK Sr Bancorp Inc. | 0.41% | 40,000 | $540K | No change |
| ESSA Essa Bancorp Inc. | 0.37% | 25,000 | $485K | No change |
| PBBK PB Bankshares Inc. | 0.37% | 27,431 | $485K | No change |
| RMBI Richmond Mutual Bancorporati | 0.32% | 30,000 | $414K | No change |
| ECBK Ecb Bancorp Inc. | 0.24% | 20,000 | $309K | No change |
| PDLB Ponce Financial Group Inc. | 0.21% | 20,000 | $277K | Reduce -33.3% |
| FBLA FB Bancorp Inc. | 0.17% | 20,000 | $225K | No change |
| WSBK Winchester Bancorp Inc. | 0.17% | 25,000 | $224K | New |
| MBBC Marathon Bancorp Inc. | 0.15% | 20,000 | $199K | New |
| CFSB CFSB Bancorp Inc. | 0.10% | 10,000 | $137K | No change |
| PFG Principal Financial Group | 0.03% | 547 | $43K | No change |
| MET Metlife Inc. | 0.00% | 60 | $5K | No change |
Other holdings (2): bonds, preferreds, convertibles and warrants · $74.5M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| WHEELER REIT INC (WHLR 7 12/31/31) | 7% SR NT 31 | 951,190 | $71.3M | Reduce -6.0% |
| WHEELER REIT INC (WHLR 9 PERP B) | CV PFD SER B | 793,332 | $3.1M | Reduce -1.9% |
Total filed on the 13F, all lines: $205.3M.
Portfolio Sells Q1 2025 → Q2 2025
| PVBC Provident Bancorp Inc. | Reduce -89.6% | 1.70% | −15.27 |
| BCOW 1895 Bancorp of Wisconsin Inc. | Sold out | 0.00% | −0.45 |
| HONE Harborone Bancorp Inc. | Sold out | 0.00% | −0.25 |
| PDLB Ponce Financial Group Inc. | Reduce -33.3% | 0.21% | −0.12 |
| WHEELER REAL ESTATE INVT TR | Sold out | 0.00% | −0.01 |
| KWY Kingsway Corp. | Reduce -2.8% | 57.32% | +18.23 |
Portfolio Buys Q1 2025 → Q2 2025
Notes & Other Activity Q1 2025 → Q2 2025
| WHEELER REIT INC (WHLR 7 12/31/31) | 7% SR NT 31 | Reduce -6.0% | 951,190 | $71.3M |
| WHEELER REIT INC (WHLR 9 PERP B) | CV PFD SER B | Reduce -1.9% | 793,332 | $3.1M |
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 |