Minerva Advisors LLC
CIK 1541536 · View on SEC EDGAR ↗
- Portfolio value
- $158.3M
- Positions
- 46
- As of
- June 30, 2026
#7,225 of 9,443 by 13F value · top 76.5%
Portfolio value QoQ: +190.5% 13F does not disclose cash
- Top 10 holdings weight
- 60.68%
- Top 25 holdings weight
- 90.21%
- Positions above 1%
- 22
- Effective number of positions
- 20.5
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q2 2026: 3.94% Est. buys $101,378,807 · sells $4,188,348
Median holding: 7.0 quarters Tracked Q4 2024–Q2 2026 · 73.0% still held
- New positions
- 0
- Increased
- 43
- Decreased
- 0
- Closed
- 2
On this page
- Sector breakdown How the portfolio splits across market sectors.
- Portfolio Every stock this institution reports holding, from its latest 13F.
- High-conviction bets The holdings this manager is most concentrated in.
- Top moves The biggest position increases and decreases this quarter.
- Exited positions Positions the manager fully sold out of last quarter.
Sector breakdown
Industrials
28.5%
Financials
19.3%
Consumer Discretionary
10.5%
Materials
8.9%
Health Care
7.4%
Communication Services
3.6%
Energy
3.5%
Technology
0.8%
Other/Unmapped
17.5%
Full portfolio 46 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| EML Eastern Company (The) - Common Stock | $15,217,296 | 9.61% | 546,402 | $11,215,909 | Up ×2 | ||
| TG Tredegar Corporation Common Stock | $13,258,232 | 8.38% | 1,665,607 | $7,651,065 | Up ×2 | ||
| INFU | $13,014,154 | 8.22% | 1,348,617 | $9,623,652 | Up ×6 | ||
| SIF | $10,662,210 | 6.74% | 455,650 | $9,135,087 | Up ×1 | ||
| ESCA Escalade, Incorporated - Common Stock | $10,652,429 | 6.73% | 567,222 | $7,637,480 | Up ×1 | ||
| VIRC Virco Manufacturing Corporation - Common Stock | $9,427,688 | 5.96% | 1,535,454 | $5,985,831 | Up ×6 | ||
| UTMD Utah Medical Products, Inc. - Common Stock | $6,457,563 | 4.08% | 93,615 | $4,432,288 | Up ×1 | ||
| UFI Unifi, Inc. New Common Stock | $5,979,262 | 3.78% | 1,258,792 | $4,088,943 | Up ×6 | ||
| DLHC DLH Holdings Corp. - Common Stock | $5,860,932 | 3.70% | 1,116,368 | $3,314,083 | Up ×1 | ||
| NVGS Navigator Holdings Ltd. Ordinary Shares (Marshall Islands) | $5,518,430 | 3.49% | 296,212 | $4,160,555 | Up ×1 | ||
| KEQU Kewaunee Scientific Corporation - Common Stock | $5,307,043 | 3.35% | 149,410 | $3,872,741 | Up ×5 | ||
| SSP E.W. Scripps Company (The) - Class A Common Stock | $5,076,598 | 3.21% | 1,832,707 | $3,010,369 | Up ×2 | ||
| CAC Camden National Corporation - Common Stock | $4,856,377 | 3.07% | 89,568 | $3,121,225 | Up ×1 | ||
| ATRO Astronics Corporation - Common Stock | $4,472,632 | 2.83% | 55,041 | $1,277,132 | Up ×2 | ||
| PBHC Pathfinder Bancorp, Inc. - Common Stock | $4,163,800 | 2.63% | 262,204 | $3,508,421 | Up ×1 | ||
| RAIL Freightcar America, Inc. - Common Stock | $3,691,752 | 2.33% | 379,030 | $2,819,954 | Up ×4 | ||
| KELYA Kelly Services, Inc. - Class A Common Stock | $3,108,829 | 1.96% | 253,162 | $2,333,144 | Up ×3 | ||
| FSTR L.B. Foster Company - Common Stock | $3,068,037 | 1.94% | 67,922 | $2,005,717 | Up ×1 | ||
| CRDB | $3,005,697 | 1.90% | 288,178 | $1,980,523 | Up ×1 | ||
| NODK NI Holdings, Inc. - Common Stock | $2,040,729 | 1.29% | 129,900 | $1,660,474 | Up ×1 | ||
| CLBK Columbia Financial, Inc. - Common Stock | $1,894,819 | 1.20% | 89,294 | $1,303,086 | Up ×1 | ||
| MPB Mid Penn Bancorp - Common Stock | $1,887,527 | 1.19% | 54,177 | $1,463,530 | Up ×1 | ||
| CFG Citizens Financial Group, Inc. Common Stock | $1,505,454 | 0.95% | 21,485 | $1,232,231 | Up ×1 | ||
| EBC Eastern Bankshares, Inc. - Common Stock | $1,391,690 | 0.88% | 62,576 | $908,323 | Up ×1 | ||
| UIS Unisys Corporation New Common Stock | $1,263,970 | 0.80% | 345,347 | $866,226 | Up ×1 | ||
| FNB F.N.B. Corporation Common Stock | $1,222,551 | 0.77% | 64,075 | $1,027,094 | Up ×1 | ||
| FRME First Merchants Corporation - Common Stock | $1,033,793 | 0.65% | 23,662 | $657,337 | Up ×2 | ||
| ECBK ECB Bancorp, Inc. - Common Stock | $1,002,795 | 0.63% | 49,940 | $594,466 | Up ×1 | ||
| CZNC Citizens & Northern Corp - Common Stock | $999,999 | 0.63% | 42,900 | $633,623 | Up ×1 | ||
| CTGO | $941,826 | 0.60% | 59,647 | $713,845 | Up ×1 | ||
| CPBI Central Plains Bancshares, Inc. - Common Stock | $934,697 | 0.59% | 49,117 | $436,796 | Up ×1 | ||
| NWFL Norwood Financial Corp. - Common Stock | $918,847 | 0.58% | 28,580 | $574,221 | Up ×2 | ||
| FMC FMC Corporation Common Stock | $897,000 | 0.57% | 78,000 | $380,400 | Up ×1 | ||
| DGICA Donegal Group, Inc. - Class A Common Stock | $876,801 | 0.55% | 46,490 | $483,808 | Up ×1 | ||
| MBBC Marathon Bancorp, Inc. - Common Stock | $851,860 | 0.54% | 55,750 | $111,525 | Up ×1 | ||
| LSBK Lake Shore Bancorp, Inc. - Common Stock | $788,253 | 0.50% | 44,259 | $574,382 | Up ×1 | ||
| FRBA First Bank - Common Stock | $729,465 | 0.46% | 41,143 | $665,065 | Up ×1 | ||
| HBNC Horizon Bancorp, Inc. - Common Stock | $700,344 | 0.44% | 35,052 | $583,488 | Up ×1 | ||
| NWBI Northwest Bancshares, Inc. - Common Stock | $576,080 | 0.36% | 38,000 | $93,860 | |||
| THRY Thryv Holdings, Inc. - Common Stock | $568,656 | 0.36% | 144,329 | $496,515 | Up ×1 | ||
| FCF First Commonwealth Financial Corporation Common Stock | $519,635 | 0.33% | 25,560 | $421,890 | Up ×1 | ||
| EBMT Eagle Bancorp Montana, Inc. - Common Stock | $504,875 | 0.32% | 21,098 | $424,613 | Up ×1 | ||
| RMBI Richmond Mutual Bancorporation, Inc. - Common Stock | $479,957 | 0.30% | 30,224 | $69,817 | |||
| DGICB Donegal Group, Inc. - Class B Common Stock | $388,904 | 0.25% | 17,856 | $309,299 | Up ×1 | ||
| DLX Deluxe Corporation Common Stock | $331,932 | 0.21% | 13,900 | $-50,874 | |||
| ASRV AmeriServ Financial Inc. - Common Stock | $225,816 | 0.14% | 58,200 | $164,276 | Up ×1 | ||
| No matches | |||||||
Conviction holdings
Positions increased for 3+ consecutive quarters.
Share counts are as reported in 13F filings (not split-adjusted)
Top movers (QoQ)
| Security | Action | Shares Δ | Value Δ |
|---|---|---|---|
| EML | Bought more | +349K | +$11.2M |
| INFU | Bought more | +981K | +$9.6M |
| TG | Bought more | +960K | +$7.7M |
| ESCA | Bought more | +392K | +$7.6M |
| VIRC | Bought more | +973K | +$6.0M |
| UTMD | Bought more | +61K | +$4.4M |
| NVGS | Bought more | +226K | +$4.2M |
| UFI | Bought more | +729K | +$4.1M |
| KEQU | Bought more | +108K | +$3.9M |
| DLHC | Bought more | +679K | +$3.3M |
2 positions hidden (data completeness check)
Exited positions
Includes corporate events (mergers, delistings) — not all exits are sells
Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| USAP | March 31, 2025 | 101,229 | $4,459,137 | No longer tracked |
| GLDD | June 30, 2026 | 233,964 | $3,977,388 | No longer tracked |
| DORM | March 31, 2026 | 8,590 | $1,058,202 | 27.2% |
| USLM | March 31, 2026 | 6,250 | $748,375 | -8.5% |
| HONE | Dec. 31, 2025 | 53,500 | $727,600 | No longer tracked |
| SSB | March 31, 2026 | 5,661 | $532,757 | 15.4% |
| SSBXXXX | Sept. 30, 2025 | 5,661 | $520,869 | No longer tracked |
| CZFS | March 31, 2026 | 7,881 | $449,375 | 31.3% |
| CBU | March 31, 2026 | 6,618 | $380,138 | 6.7% |
| SGA | March 31, 2026 | 31,831 | $364,465 | -20.9% |
| PRA | June 30, 2026 | 8,534 | $210,960 | No longer tracked |
| PBBK | March 31, 2026 | 9,640 | $203,886 | No longer tracked |
| ICCH | March 31, 2025 | 8,414 | $195,710 | No longer tracked |
| FSFG | March 31, 2026 | 5,700 | $181,602 | No longer tracked |
| VBFC | June 30, 2025 | 1,798 | $144,218 | No longer tracked |
| ACNT | March 31, 2026 | 6,993 | $113,217 | 15.3% |