KESTREL GROUP LTD KG
COM · Common Stock · CUSIP G5260K102
- SectorFinancials
- IndustryFire, Marine & Casualty Insurance
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Shares outstanding: 7.8m as of 2026-08-03, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $9.00.
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q2 2025 | 44 |
| Q3 2025 | 45 |
| Q4 2025 | 40 |
| Q1 2026 | 45 |
| Q2 2026 | 39 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2025 | 24 | 18 |
| Q4 2025 | 19 | 21 |
| Q1 2026 | 25 | 16 |
| Q2 2026 | 15 | 31 |
Biggest buyers
| MILLENNIUM MANAGEMENT LLC | New | +31.2k |
| GOLDMAN SACHS GROUP INC | New | +25.0k |
| RBF Capital, LLC | New | +11.9k |
| VANGUARD CAPITAL MANAGEMENT LLC | Added | +3.8k |
| Russell Investments Group, Ltd. | Added | +3.5k |
| ROYAL BANK OF CANADA | Added | +468 |
| CITIGROUP INC | Added | +270 |
| Arax Advisory Partners | New | +90 |
| Allworth Financial LP | Added | +15 |
| EverSource Wealth Advisors, LLC | Added | +14 |
Biggest sellers
| BlackRock, Inc. | Reduced | -98.5k |
| STATE STREET CORP | Reduced | -39.0k |
| GEODE CAPITAL MANAGEMENT, LLC | Reduced | -34.4k |
| VANGUARD PORTFOLIO MANAGEMENT LLC | Sold out | -16.2k |
| NORTHERN TRUST CORP | Reduced | -12.3k |
| DIMENSIONAL FUND ADVISORS LP | Reduced | -7.1k |
| MORGAN STANLEY | Reduced | -6.4k |
| Advisory Services Network, LLC | Sold out | -6.1k |
| UBS Group AG | Reduced | -5.3k |
| RHUMBLINE ADVISERS | Sold out | -2.3k |
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
Kestrel Intermediate Ledbetter Holdings LLC
13D · may seek influence
new · filed 2025-06-03
Stated purposePursuant to a Combination Agreement (as amended, the "Combination Agreement") entered into among Maiden Holdings, Ltd., a Bermuda exempted company limited by shares ("Maiden"), Kestrel Group LLC, a Delaware limited liability company ("Kestrel"), the equityholders of Kestrel (the "Kestrel Equityholders"), the Issuer and certain other entities, on May 27, 2025, Maiden and Kestrel effected a transaction to combine their respective businesses (the "Transaction"). A copy of the Combination Agreement is attached to this Schedule 13D as Exhibits 2, 3 and 4, to which reference is made for the complete terms of that agreement. As a consequence of the Transaction: (i) each of Maiden and Kestrel became an indirect, wholly-owned subsidiary of the Issuer; (ii) each common share of Maiden was convert… Full filing |
23.3% |
Ledbetter Terry Lee
13D · may seek influence
filed 2026-03-20
Stated purposeItem 4 of the Schedule 13D is hereby amended and supplemented as follows: On March 9, 2026, KILH effected a pro-rata distribution in-kind of all of its 1,811,764 Common Shares (the "Distribution"). As a result, Terry Lee Ledbetter and Reta Laurie Ledbetter 2000 Revocable Trust received 905,882 Common Shares, representing its 50% interest in KILH, and each of Bradford Luke Ledbetter 2006 Grantor Trust No. 2 and Shari Ann Ledbetter Irrevocable 2019 Trust, each of which now files Schedule 13D separately, received 452,941 Common Shares, representing each of its 25% interest in KILH. As a result of the Distribution, KILH no longer beneficially owns any Common Shares, and accordingly is no longer subject to the reporting requirements under Section 13(d) of the Act. The Distribution reflected… Full filing |
13.1% |
LEDBETTER BRADFORD LUKE
13D · may seek influence
filed 2026-03-20
Stated purposeItem 4 of the Schedule 13D is hereby amended and supplemented as follows: On March 9, 2026, KILH effected a pro-rata distribution in-kind of all of its 1,811,764 Common Shares (the "Distribution"). As a result, each of Bradford Luke Ledbetter 2006 Grantor Trust No. 2 and Shari Ann Ledbetter Irrevocable 2019 Trust received 452,941 Common Shares, representing each of its 25% interest in KILH, and Terry Lee Ledbetter and Reta Laurie Ledbetter 2000 Revocable Trust, which now files Schedule 13D separately, received 905,882 Common Shares, representing its 50% interest in KILH. As a result of the Distribution, KILH no longer beneficially owns any Common Shares, and accordingly is no longer subject to the reporting requirements under Section 13(d) of the Act. The Distribution reflected a chang… Full filing |
13.1% |
Amtrust Financial Services, Inc.
13D · may seek influence
new · filed 2025-05-30
Stated purposePursuant to a Combination Agreement (as amended, the "Combination Agreement") entered into among Maiden Holdings, Ltd., a Bermuda exempted company limited by shares ("Maiden"), Kestrel Group, LLC, a Delaware limited liability company ("Kestrel"), the equityholders of Kestrel (the "Kestrel Equityholders"), the Company (f/k/a Ranger Bermuda Topco Ltd) and certain other entities, on May 27, 2025, Maiden and Kestrel effected a transaction to combine their respective businesses (the "Transaction"). A copy of the Combination Agreement is incorporated by reference in this Schedule 13D as Exhibits 2, 3, and 4, to which reference is made for the complete terms of that agreement. As a consequence of the Transaction: (i) each of Maiden and Kestrel became an indirect, wholly-owned subs… Full filing |
11.2% |
| Talkot Capital, LLC 13G · passive investor new · filed 2026-02-12 | 10.2% |
Insider purchases and sales since 1 Apr 2026
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 0 | — | 0 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 0 | — | 0 | — | — |
| Q4 2025 | 0 | — | 0 | — | — |
| Q1 2026 | 0 | — | 0 | — | — |
| Q2 2026 | 0 | — | 0 | — | — |
| Q3 2026 | 1 | $13.3k | 0 | — | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2026-09-24 | NIGRO STEVEN HAROLD Director | Bought | $13.3k2.5k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 265.6k $2.4m | Added +3.8k |
| BlackRock, Inc. 0.00% of their portfolio | 182.9k $1.6m | Reduced -98.5k |
| Whitefort Capital Management, LP 0.36% of their portfolio | 160.9k $1.4m | Unchanged |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 82.7k $745.1k | Reduced -34.4k |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 73.7k $663.2k | Reduced -7.1k |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 66.9k $602.4k | Added +3.5k |
| VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio | 39.3k $354.0k | Reduced -1.8k |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 31.2k $280.4k | New |
| STATE STREET CORP 0.00% of their portfolio | 26.7k $240.6k | Reduced -39.0k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 25.0k $224.8k | New |
| Sowell Financial Services LLC 0.01% of their portfolio | 20.7k $185.9k | Unchanged |
| NORTHERN TRUST CORP 0.00% of their portfolio | 15.5k $139.2k | Reduced -12.3k |
| RBF Capital, LLC 0.00% of their portfolio | 11.9k $106.8k | New |
| MORGAN STANLEY 0.00% of their portfolio | 11.7k $105.0k | Reduced -6.4k |
| Creative Planning 0.00% of their portfolio | 10.1k $91.1k | Reduced -372 |
| UBS Group AG 0.00% of their portfolio | 3.9k $34.7k | Reduced -5.3k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 1.6k $14.3k | Unchanged |
| Vanguard Global Advisers, LLC 0.00% of their portfolio | 1.3k $11.5k | Unchanged |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 1.2k $11.0k | Added +468 |
| FMR LLC 0.00% of their portfolio | 1.1k $10.2k | Reduced -1.4k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 676 $5.9k | Reduced -1.1k |
| Tower Research Capital LLC (TRC) 0.00% of their portfolio | 416 $3.7k | Reduced -994 |
| CITIGROUP INC 0.00% of their portfolio | 408 $3.7k | Added +270 |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 129 $1.2k | Reduced -528 |
| GAMMA Investing LLC 0.00% of their portfolio | 114 $1.0k | Reduced -51 |
| BARCLAYS PLC 0.00% of their portfolio | 112 $1.0k | Reduced -404 |
| Arax Advisory Partners 0.00% of their portfolio | 90 $810 | New |
| EverSource Wealth Advisors, LLC 0.00% of their portfolio | 21 $189 | Added +14 |
| Allworth Financial LP 0.00% of their portfolio | 16 $144 | Added +15 |
| Transamerica Financial Advisors, LLC 0.00% of their portfolio | 14 $126 | Unchanged |
| PNC Financial Services Group, Inc. 0.00% of their portfolio | 12 $108 | Reduced -12 |
| Integrated Wealth Concepts LLC 0.00% of their portfolio | 12 $108 | New |
| NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio | 6 $54 | Unchanged |
| Essential Partners LLC 0.00% of their portfolio | 4 $36 | Reduced -62 |
| ROTHSCHILD INVESTMENT LLC 0.00% of their portfolio | 2 $18 | Added +1 |
| Caitong International Asset Management Co., Ltd 0.00% of their portfolio | 2 $18 | New |
| Farther Finance Advisors, LLC 0.00% of their portfolio | 2 $18 | Reduced -18 |
| Wealth Enhancement Trust Services, Inc. 0.00% of their portfolio | 2 $18 | New |
| SJS Investment Consulting Inc. 0.00% of their portfolio | 1 $9 | New |