Stilwell Value LLC
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 6, 2026), Stilwell Value LLC reported 23 stock positions worth $91.0 million. Its top holding was Kingsway (KWY) at 38.6% of the portfolio, followed by Sound Financial Bancorp (SFBC, 19.7%) and Lake Shore Bancorp (LSBK, 12.9%). Compared with Q4 2025, it opened 3 new positions, sold out of 2, added to 1 and reduced 3. The biggest buy was Catalyst Bancorp (CLST, shares +11%) and the biggest sale an exit from If Bancorp (IROQ).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001397076
- Portfolio Value
- $91.0M (Q1 2026)
- SEC Filing
- 0001397076-26-000006 ↗ filed May 6, 2026
Holdings Value
Holdings 23 stocks · $91.0M
| KWY Kingsway Corp. | 38.57% | 3,363,450 | $35.1M | No change |
| SFBC Sound Financial Bancorp Inc. | 19.70% | 410,019 | $17.9M | No change |
| LSBK Lake Shore Bancorp Inc. | 12.91% | 773,675 | $11.7M | No change |
| CPBI Central Plains Bancshares Inc. | 6.90% | 366,901 | $6.3M | No change |
| CLST Catalyst Bancorp Inc. | 5.14% | 282,434 | $4.7M | Add +10.9% |
| FSBW FS Bancorp Inc. | 3.05% | 72,000 | $2.8M | Reduce -4.0% |
| NECB Northeast Community Bancorp | 2.88% | 110,000 | $2.6M | No change |
| BVFL BV Financial Inc. filed as BV FINL INC | 1.89% | 90,000 | $1.7M | Reduce -5.3% |
| HFBL Home Federal Bancorp Inc. | 1.52% | 80,000 | $1.4M | No change |
| NBBK NB Bancorp Inc. | 1.51% | 65,000 | $1.4M | No change |
| FDSB Fifth District Bancorp Inc. | 1.30% | 80,000 | $1.2M | No change |
| AVBC Avidia Bancorp Inc. | 0.87% | 40,000 | $787K | No change |
| MGYR Magyar Bancorp Inc. | 0.76% | 40,000 | $692K | No change |
| IBRX Immunitybio Inc. | 0.67% | 80,000 | $614K | New |
| AGQ Proshares Ultra Silver | 0.53% | 4,000 | $478K | New |
| SRBK Sr Bancorp Inc. | 0.37% | 20,000 | $338K | Reduce -50.0% |
| ECBK Ecb Bancorp Inc. | 0.37% | 20,000 | $335K | No change |
| PDLB Ponce Financial Group Inc. | 0.37% | 20,000 | $334K | No change |
| FBLA FB Bancorp Inc. | 0.30% | 20,000 | $275K | No change |
| MBBC Marathon Bancorp Inc. | 0.30% | 20,000 | $271K | No change |
| PFG Principal Financial Group | 0.05% | 547 | $49K | No change |
| WHEELER REAL ESTATE INVT TR | 0.02% | 19,029 | $18K | New |
| MET Metlife Inc. | 0.00% | 60 | $4K | No change |
Other holdings (2): bonds, preferreds, convertibles and warrants · $75.9M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| WHEELER REIT INC (WHLR 7 12/31/31) | 7% SR NT 31 | 883,221 | $70.8M | No change |
| WHEELER REIT INC (WHLR 9 PERP B) | CV PFD SER B | 735,466 | $5.1M | Reduce -3.4% |
Total filed on the 13F, all lines: $166.9M.
Portfolio Sells Q4 2025 → Q1 2026
| IROQ If Bancorp Inc. | Sold out | 0.00% | −6.96 |
| SRBK Sr Bancorp Inc. | Reduce -50.0% | 0.37% | −0.22 |
| WHEELER REAL ESTATE INVT TR | Sold out | 0.00% | −0.09 |
| FSBW FS Bancorp Inc. | Reduce -4.0% | 3.05% | +0.16 |
| BVFL BV Financial Inc. | Reduce -5.3% | 1.89% | +0.28 |
Portfolio Buys Q4 2025 → Q1 2026
| CLST Catalyst Bancorp Inc. | Add +10.9% | 5.14% | +1.38 |
| IBRX Immunitybio Inc. | New | 0.67% | +0.67 |
| AGQ Proshares Ultra Silver | New | 0.53% | +0.53 |
| WHEELER REAL ESTATE INVT TR | New | 0.02% | +0.02 |
Notes & Other Activity Q4 2025 → Q1 2026
| WHEELER REIT INC (WHLR 9 PERP B) | CV PFD SER B | Reduce -3.4% | 735,466 | $5.1M |
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 |