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Minerva Advisors LLC

SEC CIK
0001541536
Latest filing
Aug 12, 2026

Holdings in Q2 2023

Holdings as of Jun 30, 2023, filed Jan 31, 2024. Long positions only; changes compare share counts with Q1 2023.

Institution overview
Positions
65
−2 vs. Q1 2023
Portfolio value
$144.5M
+$5.87M (+4.2%) vs. Q1 2023
Filed
Jan 31, 2024
AmendedSEC
Holdings of Minerva Advisors LLC in Q2 2023
SecurityClassSharesValue% of portfolioShare changeActionHistory
CCFChase CorpCOM105,062$12.7M8.8%−15,191−12.6%ReducedHistory
USAPUniversal Stainless & Alloy Products IncCOM738,427$10.3M7.1%00.0%UnchangedHistory
GLDDGreat Lakes Dredge & Dock CORPCOM1,208,298$9.84M6.8%00.0%UnchangedHistory
CTGComputer Task Group IncCOM1,262,858$9.61M6.7%+6,511+0.5%AddedHistory
ATROAstronics CorpCOM463,105$9.18M6.4%00.0%UnchangedHistory
INFUInfuSystem Holdings, IncCOM846,851$8.13M5.6%00.0%UnchangedHistory
ESCAEscalade IncCOM553,521$7.38M5.1%00.0%UnchangedHistory
EMLEastern CoCOM413,176$7.23M5.0%+4,000+1.0%AddedHistory
SSPE.W. Scripps CoCL A NEW523,407$4.78M3.3%00.0%UnchangedHistory
NVGSNavigator Holdings Ltd.SHS344,612$4.48M3.1%00.0%UnchangedHistory
DLHCDLH Holdings Corp.COM433,408$4.34M3.0%+90,570+26.4%AddedHistory
SGASaga Communications IncCL A NEW204,794$4.30M3.0%00.0%UnchangedHistory
TGTredegar CorpCOM599,287$4.00M2.8%+168,713+39.2%AddedHistory
VIRCVirco Mfg CorporationCOM962,212$3.91M2.7%+33,271+3.6%AddedHistory
USLMUnited States Lime & Minerals IncCOM17,762$3.68M2.5%−9,596−35.1%ReducedHistory
PBHCPathfinder Bancorp, Inc.COM256,599$3.58M2.5%+4,950+2.0%AddedHistory
CACCamden National CorpCOM89,568$2.77M1.9%00.0%UnchangedHistory
KEQUKewaunee Scientific CorpCOM172,919$2.55M1.8%00.0%UnchangedHistory
RAILFreightCar America, Inc.COM806,412$2.38M1.6%00.0%UnchangedHistory
NODKNI Holdings, Inc.COM129,900$1.91M1.3%00.0%UnchangedHistory
PATIPatriot Transportation Holding, Inc.COM215,576$1.80M1.2%−31,007−12.6%ReducedHistory
CTGOContango Silver & Gold Inc.COM70,147$1.74M1.2%−27,184−27.9%ReducedHistory
CECOCeco Environmental CorpCOM127,508$1.70M1.2%00.0%UnchangedHistory
DORMDorman Products, Inc.COM17,090$1.35M0.9%00.0%UnchangedHistory
THRYThryv Holdings, Inc.COM NEW49,703$1.22M0.8%00.0%UnchangedHistory
CRD.BCrawford & CoCL B132,341$1.22M0.8%00.0%UnchangedHistory
MPBMid Penn Bancorp IncCOM51,732$1.14M0.8%00.0%UnchangedHistory
FSTRFoster L B CoCOM79,798$1.13M0.8%00.0%UnchangedHistory
SIFSifco Industries IncCOM384,618$938.5K0.6%−1,090−0.3%ReducedHistory
CZNCCitizens & Northern CorpCOM42,900$825.0K0.6%00.0%UnchangedHistory
MLVFMalvern Bancorp, Inc.COM53,206$822.6K0.6%00.0%UnchangedHistory
VBFCVillage Bank & Trust Financial Corp.COM NEW19,745$821.6K0.6%00.0%UnchangedHistory
SCXStarrett L S CoCL A73,237$761.7K0.5%00.0%UnchangedHistory
FNBFNB CorpCOM64,075$733.0K0.5%−5,615−8.1%ReducedHistory
UFIUnifi IncCOM NEW86,429$697.9K0.5%+60,093+228.2%AddedHistory
WLMSNOS4-1, Inc.COM1,885,277$697.6K0.5%00.0%UnchangedHistory
DGICADonegal Group IncCL A46,490$669.0K0.5%00.0%UnchangedHistory
CFGCitizens Financial Group IncCOM23,585$614.9K0.4%00.0%UnchangedHistory
CIXCompx International IncCL A27,847$607.1K0.4%00.0%UnchangedHistory
CLBKColumbia Financial, Inc.COM33,794$584.3K0.4%00.0%UnchangedHistory
CZFSCitizens Financial Services IncCOM7,726$575.4K0.4%+7,726NewHistory
ACNTAscent Industries Co.COM60,369$542.7K0.4%00.0%UnchangedHistory
ICCHICC Holdings, Inc.COM33,367$527.9K0.4%00.0%UnchangedHistory
NWFLNorwood Financial CorpCOM13,681$403.2K0.3%00.0%UnchangedHistory
NWBINorthwest Bancshares, Inc.COM38,000$402.8K0.3%00.0%UnchangedHistory
SSBSouthState Bank CorpCOM5,661$372.2K0.3%00.0%UnchangedHistory
HBNCHorizon Bancorp IncCOM35,052$364.5K0.3%00.0%UnchangedHistory
FCFFirst Commonwealth Financial CorpCOM28,360$358.5K0.2%00.0%UnchangedHistory
GVPGse Systems IncCOM920,654$331.4K0.2%+141,099+18.1%AddedHistory
RMBIRichmond Mutual Bancorporation, Inc.COM30,000$331.2K0.2%00.0%UnchangedHistory
LSBKLake Shore Bancorp, Inc.COM29,344$315.7K0.2%+9,644+49.0%AddedHistory
CBUCommunity Financial System, Inc.COM6,618$310.2K0.2%00.0%UnchangedHistory
MSVBMid-Southern Bancorp, Inc.COM21,706$282.2K0.2%00.0%UnchangedHistory
FRMEFirst Merchants CorpCOM9,875$278.4K0.2%00.0%UnchangedHistory
EBMTEagle Bancorp Montana, Inc.COM21,098$272.2K0.2%00.0%UnchangedHistory
PRAProassurance CorpCOM17,234$260.1K0.2%00.0%UnchangedHistory
DLXDeluxe CorpCOM13,900$243.0K0.2%00.0%UnchangedHistory
DGICBDonegal Group IncCL B17,856$237.5K0.2%00.0%UnchangedHistory
FSFGFirst Savings Financial Group, Inc.COM16,221$211.7K0.1%00.0%UnchangedHistory
DLADelta Apparel, IncCOM19,353$199.3K0.1%00.0%UnchangedHistory
OFEDOconee Federal Financial Corp.COM11,451$162.1K0.1%00.0%UnchangedHistory
ASRVAmeriserv Financial IncCOM58,200$146.1K0.1%00.0%UnchangedHistory
PCTIPC Tel IncCOM19,243$92.2K0.1%00.0%UnchangedHistory
LUMOLumos Pharma, Inc.COM26,549$84.7K0.1%−7,466−21.9%ReducedHistory
DALNDallasNews CorpCOM SER A15,648$60.2K<0.1%−13,963−47.2%ReducedHistory

Sold out since Q1 2023 (3)

Positions held at the end of Q1 2023 that are gone from this filing.

Positions of Minerva Advisors LLC sold out since Q1 2023
SecurityClassShares in Q1 2023Value in Q1 2023% of portfolio in Q1 2023History
HVBCHV Bancorp, Inc.COM25,890$777.5K0.6%History
ICCCImmucell CorpCOM PAR11,958$61.1K<0.1%History
NXTCNextCure, Inc.COM31,713$46.9K<0.1%History