Minerva Advisors LLC
CIK 0001541536
Annualised vol
2.729965%
Beta
0.014406
HHI
487.620105
Top-10 weight
60.683519%
VaR 95%
0.089784%
VaR 99%
0.552329%
Max drawdown
6.896492%
Matched value
47.548032%
Returns of reported holdings
Loading returns…
Position changes vs prior quarter
What the latest 13F shows bought and sold against the quarter before, by share count.
| Ticker | Change | Shares now | Shares before | Share change % | Value now ($) |
|---|---|---|---|---|---|
| EML | UNCHANGED | 546,402 | 546,402 | 0.0% | 15,217,296 |
| TG | UNCHANGED | 1,665,607 | 1,665,607 | 0.0% | 13,258,232 |
| ESCA | REDUCED | 567,222 | 567,621 | -0.07% | 10,652,429 |
| VIRC | NEW | 1,535,454 | - | - | 9,427,688 |
| UFI | ADDED | 1,258,792 | 1,258,626 | 0.01% | 5,979,262 |
| ATRO | REDUCED | 55,041 | 70,340 | -21.75% | 4,472,632 |
| FSTR | REDUCED | 67,922 | 83,965 | -19.11% | 3,068,037 |
| CRD-A | UNCHANGED | 288,178 | 288,178 | 0.0% | 3,005,697 |
| MPB | UNCHANGED | 54,177 | 54,177 | 0.0% | 1,887,527 |
| EBC | UNCHANGED | 62,576 | 62,576 | 0.0% | 1,391,690 |
| DGICA | UNCHANGED | 64,346 | 64,346 | 0.0% | 1,265,705 |
| UIS | UNCHANGED | 345,347 | 345,347 | 0.0% | 1,263,970 |
| FRME | UNCHANGED | 23,662 | 23,662 | 0.0% | 1,033,793 |
| CTGO | NEW | 59,647 | - | - | 941,826 |
| NWFL | UNCHANGED | 28,580 | 28,580 | 0.0% | 918,847 |
| FMC | ADDED | 78,000 | 48,000 | 62.5% | 897,000 |
| NWBI | UNCHANGED | 38,000 | 38,000 | 0.0% | 576,080 |
| DLHC | CLOSED OUT | 0 | 1,113,037 | -100.0% | 0 |
| SIF | CLOSED OUT | 0 | 480,650 | -100.0% | 0 |
| RAIL | CLOSED OUT | 0 | 341,023 | -100.0% | 0 |
| NVGS | CLOSED OUT | 0 | 296,212 | -100.0% | 0 |
| PBHC | CLOSED OUT | 0 | 262,204 | -100.0% | 0 |
| KELYA | CLOSED OUT | 0 | 199,796 | -100.0% | 0 |
| NODK | CLOSED OUT | 0 | 129,900 | -100.0% | 0 |
| UTMD | CLOSED OUT | 0 | 93,615 | -100.0% | 0 |
| CAC | CLOSED OUT | 0 | 89,568 | -100.0% | 0 |
| CPBI | CLOSED OUT | 0 | 49,117 | -100.0% | 0 |
| CZNC | CLOSED OUT | 0 | 42,900 | -100.0% | 0 |
| DLX | CLOSED OUT | 0 | 13,900 | -100.0% | 0 |
Holdings (latest quarter)
| Ticker | Change | Issuer | Class | CUSIP | Value ($) | Weight % | Shares |
|---|---|---|---|---|---|---|---|
| EML | UNCHANGED | EASTERN CO | COM | 276317104 | 15,217,296 | 9.61 | 546402.0 |
| TG | UNCHANGED | TREDEGAR CORP | COM | 894650100 | 13,258,232 | 8.38 | 1665607.0 |
| - | INFUSYSTEM HLDGS INC | COM | 45685K102 | 13,014,154 | 8.22 | 1348617.0 | |
| - | SIFCO INDS INC | COM | 826546103 | 10,662,210 | 6.74 | 455650.0 | |
| ESCA | REDUCED | ESCALADE INC | COM | 296056104 | 10,652,429 | 6.73 | 567222.0 |
| VIRC | NEW | VIRCO MFG CO | COM | 927651109 | 9,427,688 | 5.96 | 1535454.0 |
| - | UTAH MED PRODS INC | COM | 917488108 | 6,457,563 | 4.08 | 93615.0 | |
| UFI | ADDED | UNIFI INC | COM NEW | 904677200 | 5,979,262 | 3.78 | 1258792.0 |
| - | DLH HLDGS CORP | COM | 23335Q100 | 5,860,932 | 3.7 | 1116368.0 | |
| - | NAVIGATOR HLDGS LTD | SHS | Y62132108 | 5,518,430 | 3.49 | 296212.0 | |
| - | KEWAUNEE SCIENTIFIC CORP | COM | 492854104 | 5,307,043 | 3.35 | 149410.0 | |
| - | SCRIPPS E W CO OHIO | CL A NEW | 811054402 | 5,076,598 | 3.21 | 1832707.0 | |
| - | CAMDEN NATL CORP | COM | 133034108 | 4,856,377 | 3.07 | 89568.0 | |
| ATRO | REDUCED | ASTRONICS CORP | COM | 046433108 | 4,472,632 | 2.83 | 55041.0 |
| - | PATHFINDER BANCORP INC MD | COM | 70319R109 | 4,163,800 | 2.63 | 262204.0 | |
| - | FREIGHTCAR AMER INC | COM | 357023100 | 3,691,752 | 2.33 | 379030.0 | |
| - | KELLY SVCS INC | CL A | 488152208 | 3,108,829 | 1.96 | 253162.0 | |
| FSTR | REDUCED | FOSTER L B CO | COM | 350060109 | 3,068,037 | 1.94 | 67922.0 |
| CRD-A | UNCHANGED | CRAWFORD & CO | CL B | 224633107 | 3,005,697 | 1.9 | 288178.0 |
| - | NI HLDGS INC | COM | 65342T106 | 2,040,729 | 1.29 | 129900.0 | |
| - | COLUMBIA FINL INC | COM | 197641103 | 1,894,819 | 1.2 | 89294.0 | |
| MPB | UNCHANGED | MID PENN BANCORP INC | COM | 59540G107 | 1,887,527 | 1.19 | 54177.0 |
| - | CITIZENS FINL GROUP INC | COM | 174610105 | 1,505,454 | 0.95 | 21485.0 | |
| EBC | UNCHANGED | EASTERN BANKSHARES INC | COM | 27627N105 | 1,391,690 | 0.88 | 62576.0 |
| UIS | UNCHANGED | UNISYS CORP | COM NEW | 909214306 | 1,263,970 | 0.8 | 345347.0 |
| - | F N B CORP | COM | 302520101 | 1,222,551 | 0.77 | 64075.0 | |
| FRME | UNCHANGED | FIRST MERCHANTS CORP | COM | 320817109 | 1,033,793 | 0.65 | 23662.0 |
| - | ECB BANCORP INC | COM | 26828M106 | 1,002,795 | 0.63 | 49940.0 | |
| - | CITIZENS & NORTHN CORP | COM | 172922106 | 999,999 | 0.63 | 42900.0 | |
| CTGO | NEW | CONTANGO SILVER & GOLD INC | COM | 21077F100 | 941,826 | 0.6 | 59647.0 |
| - | CENTRAL PLAINS BANCSHARES IN | COM | 15486W100 | 934,697 | 0.59 | 49117.0 | |
| NWFL | UNCHANGED | NORWOOD FINANCIAL CORP | COM | 669549107 | 918,847 | 0.58 | 28580.0 |
| FMC | ADDED | FMC CORP | COM NEW | 302491303 | 897,000 | 0.57 | 78000.0 |
| DGICA | UNCHANGED | DONEGAL GROUP INC | CL A | 257701201 | 876,801 | 0.55 | 46490.0 |
| - | MARATHON BANCORP INC | COM NEW | 565759206 | 851,860 | 0.54 | 55750.0 | |
| - | LAKE SHORE BANCORP INC | COM | 510704109 | 788,253 | 0.5 | 44259.0 | |
| - | FIRST BK WILLIAMSTOWN NEW JE | COM | 31931U102 | 729,465 | 0.46 | 41143.0 | |
| - | HORIZON BANCORP IND | COM | 440407104 | 700,344 | 0.44 | 35052.0 | |
| NWBI | UNCHANGED | NORTHWEST BANCSHARES INC | COM | 667340103 | 576,080 | 0.36 | 38000.0 |
| - | THRYV HLDGS INC | COM NEW | 886029206 | 568,656 | 0.36 | 144329.0 | |
| - | FIRST COMWLTH FINL CORP PA | COM | 319829107 | 519,635 | 0.33 | 25560.0 | |
| - | EAGLE BANCORP MONT INC | COM | 26942G100 | 504,875 | 0.32 | 21098.0 | |
| - | RICHMOND MUT BANCORPORATION | COM | 76525P100 | 479,957 | 0.3 | 30224.0 | |
| DGICA | UNCHANGED | DONEGAL GROUP INC | CL B | 257701300 | 388,904 | 0.25 | 17856.0 |
| - | DELUXE CORP MEDIUM TERM NTS | COM | 248019101 | 331,932 | 0.21 | 13900.0 | |
| - | AMERISERV FINL INC | COM | 03074A102 | 225,816 | 0.14 | 58200.0 |
Quarterly portfolios
| Period | Filed | Value ($) | Positions | Vol % | Beta | Max DD % |
|---|---|---|---|---|---|---|
| 2026-06-30 | 2026-08-12 | 158,277,236 | 46 | 2.729965 | 0.014406 | 6.896492 |
| 2026-03-31 | 2026-05-12 | 154,911,817 | 92 | 3.637753 | 0.03081 | 7.588823 |
| 2025-12-31 | 2026-02-09 | 149,717,343 | 104 | 2.507399 | 0.01341 | 6.256833 |
| 2025-09-30 | 2025-11-12 | 157,451,396 | 103 | 2.884887 | 0.013696 | 6.036473 |
| 2025-03-31 | 2025-05-09 | 140,695,221 | 101 | 3.825861 | 0.029442 | 8.065897 |
| 2024-12-31 | 2025-02-04 | 170,958,664 | 105 | 2.939231 | 0.022308 | 7.261043 |