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