STILWELL VALUE LLC
Q2 2023 Form 13-F
NEW YORK, NEW YORK
CIK 0001397076
· CRD 160697
· SEC-registered investment adviser
$179.2M Reported Value Total
STILWELL VALUE LLC reports 5 total accounts under management (AUM). There are 5 discretionary accounts valued at $231,501,463, and 0 non-discretionary accounts.
Source: Form ADV filed * Note that certain holdings are exempt from Form 13-F reporting, so the AUM totals may be greater than the Form 13-F total.
SEC Registered
Discretionary Manager
Private funds (Form ADV)
12 funds
· $314.3M gross asset value
Hedge Fund: $314.3M
Source: Form ADV filed 2026-03-27
Reported value
$179.2M
Quarter over quarter
+3.9%
Holdings
37
Top-10 concentration
90.5%
Filing Structure
Key People
Form ADV owners & control persons
Joseph David Stilwell
PRINCIPAL
Esther Jo Borrack
GENERAL COUNSEL
Michael Lamanga
TRUSTEE
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Q2 2023 13F record
Q2 2023 13F filing summary
| Period of report | June 30, 2023 |
|---|---|
| Filed | August 11, 2023 |
| Form | 13F-HR |
| Reported value | $179.2M |
| Positions | 37 |
| Change in reported value | 0.0% |
| New positions | 1 |
| Exited positions | 3 |
| Position turnover | 10.0% |
| Top-10 concentration | 90.5% |
13F filings by quarter
| Quarter | Positions | Value |
|---|---|---|
|
Q2 2026 13F
Filed Aug 7, 2026
|
24 | $174.4M |
|
Q1 2026 13F
Filed May 6, 2026
|
25 | $166.9M |
|
Q4 2025 13F
Filed Jan 29, 2026
|
24 | $181.4M |
|
Q3 2025 13F
Filed Nov 14, 2025
|
30 | $226.2M |
|
Q2 2025 13F
Filed Aug 6, 2025
|
30 | $205.3M |
|
Q1 2025 13F
Filed May 14, 2025
|
30 | $194.6M |
|
Q4 2024 13F
Filed Feb 13, 2025
|
32 | $198.5M |
|
Q3 2024 13F
Filed Nov 13, 2024
|
32 | $211.3M |
|
Q2 2024 13F
Filed Aug 13, 2024
|
34 | $192.0M |
|
Q1 2024 13F
Filed May 8, 2024
|
35 | $193.0M |
|
Q4 2023 13F
Filed Feb 12, 2024
|
34 | $191.5M |
|
Q3 2023 13F
Filed Nov 13, 2023
|
38 | $183.1M |
|
Q2 2023 13F
Filed Aug 11, 2023
|
37 | $179.2M |
|
Q1 2023 13F
Filed May 15, 2023
|
39 | $179.2M |
|
Q4 2022 13F
Filed Feb 10, 2023
|
40 | $133.1M |
|
Q3 2022 13F
Filed Nov 14, 2022
|
38 | $139.4M |
|
Q2 2022 13F
Filed Aug 12, 2022
|
38 | $145.0M |
|
Q1 2022 13F
Filed May 13, 2022
|
40 | $150.9M |
|
Q4 2021 13F
Filed Feb 11, 2022
|
35 | $155.3M |
|
Q3 2021 13F
Filed Oct 18, 2021
|
37 | $156.7M |
26 earlier quarters on file — choose one from the quarter menu above.
Top 20 holdings · Q2 2023
| # | Holding | Reported value | % of portfolio |
|---|---|---|---|
| 1 | KFS KINGSWAY FINL SVCS INC | $60.7M | 33.87% |
| 2 | WHLRL WHEELER REAL ESTATE INVT TR | $46.2M | 25.78% |
| 3 | PVBC PROVIDENT BANCORP INC | $13.9M | 7.78% |
| 4 | SPY P SPDR S&P 500 ETF TR | $13.3M | 7.42% |
| 5 | SFBC SOUND FINL BANCORP INC | $12.7M | 7.1% |
| 6 | ICCH ICC HLDGS INC | $4.8M | 2.69% |
| 7 | FSBW FS BANCORP INC | $3.6M | 2.01% |
| 8 | WHLRD WHEELER REAL ESTATE INVT TR | $2.6M | 1.45% |
| 9 | OFG OFG BANCORP | $2.2M | 1.25% |
| 10 | NECB NORTHEAST CMNTY BANCORP INC | $2.1M | 1.16% |
| 11 | GBNY GENERATIONS BANCORP NY INC | $2.0M | 1.13% |
| 12 | IROQ IF BANCORP INC | $1.7M | 0.95% |
| 13 | WHLRP WHEELER REAL ESTATE INVT TR | $1.3M | 0.73% |
| 14 | FNWB FIRST NORTHWEST BANCORP | $1.2M | 0.67% |
| 15 | HFBL HOME FED BANCORP INC LA NEW | $1.1M | 0.63% |
| 16 | LSBK LAKE SHORE BANCORP INC | $1.1M | 0.6% |
| 17 | FUSB FIRST US BANCSHARES INC | $1.1M | 0.59% |
| 18 | FSFG FIRST SVGS FINL GROUP INC | $795.0K | 0.44% |
| 19 | AFBI AFFINITY BANCSHARES INC | $758.0K | 0.42% |
| 20 | WHLR WHEELER REAL ESTATE INVT TR | $727.7K | 0.41% |
Values as reported on the Q2 2023 Form 13F. Every position is in the holdings table below.