Skip to main content
Livermore
Livermore
ZHEN

Minerva Advisors LLC

SEC CIK
0001541536
Latest filing
Aug 12, 2026

Holdings in Q2 2021

Holdings as of Jun 30, 2021, filed Aug 11, 2021. Long positions only; changes compare share counts with Q1 2021.

Institution overview
Positions
70
−1 vs. Q1 2021
Portfolio value
$189.3M
+$6.58M (+3.6%) vs. Q1 2021
Filed
Aug 11, 2021
SEC
Holdings of Minerva Advisors LLC in Q2 2021
SecurityClassSharesValue% of portfolioShare changeActionHistory
INFUInfuSystem Holdings, IncCOM846,351$17.6M9.3%−45,331−5.1%ReducedHistory
GLDDGreat Lakes Dredge & Dock CORPCOM982,540$14.4M7.6%−3,000−0.3%ReducedHistory
CCFChase CorpCOM120,653$12.4M6.5%−5,801−4.6%ReducedHistory
CTGComputer Task Group IncCOM1,164,101$11.1M5.8%00.0%UnchangedHistory
WLMSNOS4-1, Inc.COM1,848,450$10.7M5.7%−190,594−9.3%ReducedHistory
SSPE.W. Scripps CoCL A NEW523,407$10.7M5.6%00.0%UnchangedHistory
EMLEastern CoCOM326,937$9.91M5.2%+5,648+1.8%AddedHistory
ESCAEscalade IncCOM368,055$8.43M4.5%00.0%UnchangedHistory
USAPUniversal Stainless & Alloy Products IncCOM691,253$6.95M3.7%+208,224+43.1%AddedHistory
ATROAstronics CorpCOM336,787$5.90M3.1%00.0%UnchangedHistory
USLMUnited States Lime & Minerals IncCOM39,681$5.50M2.9%00.0%UnchangedHistory
GPXGP Strategies CorpCOM344,723$5.42M2.9%+33,085+10.6%AddedHistory
CACCamden National CorpCOM94,213$4.50M2.4%00.0%UnchangedHistory
SGASaga Communications IncCL A NEW187,909$4.06M2.1%+19,362+11.5%AddedHistory
PBHCPathfinder Bancorp, Inc.COM254,045$4.01M2.1%00.0%UnchangedHistory
SIFSifco Industries IncCOM385,708$3.88M2.1%−2,938−0.8%ReducedHistory
NVGSNavigator Holdings Ltd.SHS330,212$3.62M1.9%+5,000+1.5%AddedHistory
PATIPatriot Transportation Holding, Inc.COM293,070$3.30M1.7%00.0%UnchangedHistory
VIRCVirco Mfg CorporationCOM859,446$2.93M1.5%00.0%UnchangedHistory
RAILFreightCar America, Inc.COM487,410$2.88M1.5%+55,610+12.9%AddedHistory
TRNSTranscat IncCOM47,052$2.65M1.4%−20,107−29.9%ReducedHistory
NODKNI Holdings, Inc.COM129,900$2.47M1.3%00.0%UnchangedHistory
THRYThryv Holdings, Inc.COM NEW59,703$2.14M1.1%−15,597−20.7%ReducedHistory
KEQUKewaunee Scientific CorpCOM138,392$1.99M1.1%+14,560+11.8%AddedHistory
CNBKACentury Bancorp IncCL A NON VTG17,034$1.94M1.0%−616−3.5%ReducedHistory
DLHCDLH Holdings Corp.COM152,178$1.78M0.9%00.0%UnchangedHistory
DORMDorman Products, Inc.COM17,090$1.77M0.9%−1,500−8.1%ReducedHistory
VRSBillerud Americas CorpCL A68,300$1.21M0.6%00.0%UnchangedHistory
ISBCInvestors Bancorp, Inc.COM84,711$1.21M0.6%00.0%UnchangedHistory
DALNDallasNews CorpCOM SER A162,248$1.09M0.6%+162,248NewHistory
CECOCeco Environmental CorpCOM148,829$1.07M0.6%00.0%UnchangedHistory
MPBMid Penn Bancorp IncCOM38,951$1.06M0.6%00.0%UnchangedHistory
CZNCCitizens & Northern CorpCOM42,900$1.05M0.6%00.0%UnchangedHistory
FSTRFoster L B CoCOM55,263$1.03M0.5%00.0%UnchangedHistory
STFCState Auto Financial CORPCOM58,219$997.0K0.5%00.0%UnchangedHistory
MLVFMalvern Bancorp, Inc.COM53,206$977.0K0.5%00.0%UnchangedHistory
VOLTVolt Information Sciences, Inc.COM209,265$958.0K0.5%00.0%UnchangedHistory
DWSNDawson Geophysical CoCOM362,014$945.0K0.5%00.0%UnchangedHistory
VBFCVillage Bank & Trust Financial Corp.COM NEW19,745$933.0K0.5%−5,000−20.2%ReducedHistory
GVPGse Systems IncCOM528,318$930.0K0.5%+31,259+6.3%AddedHistory
FNBFNB CorpCOM69,690$859.0K0.5%00.0%UnchangedHistory
AUDAudacy, Inc.COM165,900$715.0K0.4%+165,900NewHistory
DLXDeluxe CorpCOM13,900$664.0K0.4%00.0%UnchangedHistory
CIXCompx International IncCL A29,847$620.0K0.3%−9,055−23.3%ReducedHistory
HBNCHorizon Bancorp IncCOM35,052$611.0K0.3%00.0%UnchangedHistory
CLBKColumbia Financial, Inc.COM33,794$582.0K0.3%00.0%UnchangedHistory
ACNTAscent Industries Co.COM55,850$558.0K0.3%00.0%UnchangedHistory
SCXStarrett L S CoCL A59,437$555.0K0.3%00.0%UnchangedHistory
ICCHICC Holdings, Inc.COM33,367$523.0K0.3%−10.0%ReducedHistory
NWBINorthwest Bancshares, Inc.COM38,000$518.0K0.3%00.0%UnchangedHistory
HVBCHV Bancorp, Inc.COM25,890$503.0K0.3%00.0%UnchangedHistory
CBUCommunity Financial System, Inc.COM6,618$501.0K0.3%00.0%UnchangedHistory
MFNCMackinac Financial CorpCOM25,283$500.0K0.3%−7,049−21.8%ReducedHistory
EBMTEagle Bancorp Montana, Inc.COM21,098$486.0K0.3%00.0%UnchangedHistory
SSBSouthState Bank CorpCOM5,661$463.0K0.2%00.0%UnchangedHistory
RMBIRichmond Mutual Bancorporation, Inc.COM30,000$447.0K0.2%00.0%UnchangedHistory
FRMEFirst Merchants CorpCOM9,875$411.0K0.2%00.0%UnchangedHistory
PRAProassurance CorpCOM17,234$392.0K0.2%00.0%UnchangedHistory
AEAdams Resources & Energy, Inc.COM NEW14,006$388.0K0.2%−807−5.4%ReducedHistory
RIVERiverview Financial CorpCOM31,622$359.0K0.2%−4,147−11.6%ReducedHistory
NWFLNorwood Financial CorpCOM13,681$356.0K0.2%00.0%UnchangedHistory
MSVBMid-Southern Bancorp, Inc.COM21,706$345.0K0.2%00.0%UnchangedHistory
LSBKLake Shore Bancorp, Inc.COM19,700$294.0K0.2%00.0%UnchangedHistory
OFEDOconee Federal Financial Corp.COM11,451$268.0K0.1%00.0%UnchangedHistory
ASRVAmeriserv Financial IncCOM61,200$241.0K0.1%00.0%UnchangedHistory
DGICBDonegal Group IncCL B17,856$237.0K0.1%00.0%UnchangedHistory
EMCFEmclaire Financial CorpCOM7,554$214.0K0.1%00.0%UnchangedHistory
DGICADonegal Group IncCL A11,281$164.0K0.1%00.0%UnchangedHistory
LGLLGL Group IncCOM12,901$134.0K0.1%00.0%UnchangedHistory
ICCCImmucell CorpCOM PAR11,958$113.0K0.1%00.0%UnchangedHistory

Sold out since Q1 2021 (3)

Positions held at the end of Q1 2021 that are gone from this filing.

Positions of Minerva Advisors LLC sold out since Q1 2021
SecurityClassShares in Q1 2021Value in Q1 2021% of portfolio in Q1 2021History
A H Belo Corp001282102COM CL A648,998$1.36M0.7%–
Entercom Communications Corp293639100CL A168,900$887.0K0.5%–
Atlantic Power Corp04878Q863COM NEW53,013$153.0K0.1%–