Stilwell Value LLC

Overview

Stilwell Value LLC is a New York-based hedge fund and investment adviser, acting as the general partner for a family of private investment partnerships collectively known as The Stilwell Group. The firm specializes in deep-value investments, focusing on regional financial institutions and real estate trusts. Its largest holdings include Wheeler Real Estate Investment Trust and Kingsway Financial Services, along with stakes in Provident Bancorp, IF Bancorp, and Sound Financial. As of Q1 2025, the firm manages around $275 million in discretionary assets, with approximately $195 million allocated to 13F-reportable securities across about 30 equity positions. The firm's investment strategy involves concentrated value investing, predominantly in the financial sector, specifically targeting undervalued community banks, thrifts, and depository institutions. Stilwell Value LLC actively engages with management and boards to unlock shareholder value, often taking activist positions to drive operational or governance improvements. The firm operates with a long-term investment horizon, seeking to benefit from transformations within its target companies. Joseph D. Stilwell, the owner and managing member of Stilwell Value LLC, brings extensive expertise in capital allocation and shareholder value maximization. He has served on the board of Kingsway Financial Services Inc. since April 2009 and was elected to the Board of Directors of Wheeler Real Estate Investment Trust, Inc. in December 2019, where he currently serves as Chair of both the Compensation and Nominating Committees, as well as a member of the Executive Committee. Mr. Stilwell holds a Bachelor of Science in Economics from the Wharton School at the University of Pennsylvania, earned in 1983.

Investment Focus

• Recurring and sustainable EBITDA between $1 million and $3.5 million
• Niche industry with strong growth potential
• Control equity position required
• Strong management team in place with option to stay on or provide consulting during the transition
• Located in Eastern and Central time zones

Portfolio Companies