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Minerva Advisors LLC

SEC CIK
0001541536
Latest filing
Aug 12, 2026

Holdings in Q1 2025

Holdings as of Mar 31, 2025, filed May 9, 2025. Long positions only; changes compare share counts with Q4 2024.

Institution overview
Positions
55
−2 vs. Q4 2024
Portfolio value
$140.7M
−$30.3M (−17.7%) vs. Q4 2024
Filed
May 9, 2025
AmendedSEC
Holdings of Minerva Advisors LLC in Q1 2025
SecurityClassSharesValue% of portfolioShare changeActionHistory
EMLEastern CoCOM505,987$12.8M9.1%+5,009+1.0%AddedHistory
TGTredegar CorpCOM1,657,107$12.8M9.1%00.0%UnchangedHistory
GLDDGreat Lakes Dredge & Dock CORPCOM1,389,807$12.1M8.6%+48,000+3.6%AddedHistory
VIRCVirco Mfg CorporationCOM1,210,455$11.5M8.1%+47,866+4.1%AddedHistory
ATROAstronics CorpCOM463,105$11.2M8.0%00.0%UnchangedHistory
ESCAEscalade IncCOM537,814$8.23M5.8%00.0%UnchangedHistory
INFUInfuSystem Holdings, IncCOM910,677$4.90M3.5%+63,826+7.5%AddedHistory
UTMDUtah Medical Products IncCOM86,902$4.87M3.5%+8,513+10.9%AddedHistory
UFIUnifi IncCOM NEW907,774$4.37M3.1%+52,533+6.1%AddedHistory
PBHCPathfinder Bancorp, Inc.COM262,204$4.31M3.1%00.0%UnchangedHistory
DLHCDLH Holdings Corp.COM1,018,397$4.12M2.9%+170,805+20.2%AddedHistory
NVGSNavigator Holdings Ltd.SHS301,212$4.01M2.8%−5,000−1.6%ReducedHistory
SSPE.W. Scripps CoCL A NEW1,259,842$3.73M2.7%+92,000+7.9%AddedHistory
CACCamden National CorpCOM89,568$3.62M2.6%00.0%UnchangedHistory
CRD.BCrawford & CoCL B276,688$3.16M2.2%00.0%UnchangedHistory
KEQUKewaunee Scientific CorpCOM73,765$2.90M2.1%−35,728−32.6%ReducedHistory
SGASaga Communications IncCL A NEW226,688$2.83M2.0%00.0%UnchangedHistory
THRYThryv Holdings, Inc.COM NEW202,329$2.59M1.8%−21,500−9.6%ReducedHistory
NODKNI Holdings, Inc.COM129,900$1.85M1.3%00.0%UnchangedHistory
UISUnisys CorpCOM NEW345,347$1.59M1.1%00.0%UnchangedHistory
VBFCVillage Bank & Trust Financial Corp.COM NEW19,745$1.58M1.1%00.0%UnchangedHistory
FSTRFoster L B CoCOM79,798$1.57M1.1%00.0%UnchangedHistory
MPBMid Penn Bancorp IncCOM51,732$1.34M1.0%00.0%UnchangedHistory
SIFSifco Industries IncCOM466,751$1.29M0.9%00.0%UnchangedHistory
RAILFreightCar America, Inc.COM219,005$1.21M0.9%00.0%UnchangedHistory
DORMDorman Products, Inc.COM8,590$1.04M0.7%00.0%UnchangedHistory
CFGCitizens Financial Group IncCOM23,585$966.3K0.7%00.0%UnchangedHistory
HONEHarborOne Bancorp, Inc.COM NEW88,414$916.9K0.7%00.0%UnchangedHistory
DGICADonegal Group IncCL A46,490$912.6K0.6%00.0%UnchangedHistory
CZNCCitizens & Northern CorpCOM42,900$863.1K0.6%00.0%UnchangedHistory
FNBFNB CorpCOM64,075$861.8K0.6%00.0%UnchangedHistory
ECBKECB Bancorp, Inc.COM49,940$756.6K0.5%+13,500+37.0%AddedHistory
CPBICentral Plains Bancshares, Inc.COM49,117$732.8K0.5%00.0%UnchangedHistory
CTGOContango Silver & Gold Inc.COM70,147$716.2K0.5%00.0%UnchangedHistory
First BK Williamstown New Je31931U102COM41,143$609.3K0.4%00.0%Unchanged–
USLMUnited States Lime & Minerals IncCOM6,250$552.4K0.4%00.0%UnchangedHistory
HBNCHorizon Bancorp IncCOM35,052$528.6K0.4%00.0%UnchangedHistory
SSBSouthState Bank CorpCOM5,661$525.5K0.4%00.0%UnchangedHistory
CLBKColumbia Financial, Inc.COM33,794$506.9K0.4%00.0%UnchangedHistory
LSBKLake Shore Bancorp, Inc.COM30,118$475.9K0.3%00.0%UnchangedHistory
NWBINorthwest Bancshares, Inc.COM38,000$456.8K0.3%00.0%UnchangedHistory
CZFSCitizens Financial Services IncCOM7,803$453.0K0.3%00.0%UnchangedHistory
FSFGFirst Savings Financial Group, Inc.COM16,221$417.9K0.3%00.0%UnchangedHistory
PRAProassurance CorpCOM17,234$402.4K0.3%00.0%UnchangedHistory
FRMEFirst Merchants CorpCOM9,875$399.3K0.3%00.0%UnchangedHistory
FCFFirst Commonwealth Financial CorpCOM25,560$397.2K0.3%00.0%UnchangedHistory
ACNTAscent Industries Co.COM30,415$385.1K0.3%00.0%UnchangedHistory
RMBIRichmond Mutual Bancorporation, Inc.COM30,000$384.0K0.3%00.0%UnchangedHistory
CBUCommunity Financial System, Inc.COM6,618$376.3K0.3%00.0%UnchangedHistory
EBMTEagle Bancorp Montana, Inc.COM21,098$353.4K0.3%00.0%UnchangedHistory
PBBKPB Bankshares, Inc.COM20,560$338.2K0.2%00.0%UnchangedHistory
NWFLNorwood Financial CorpCOM13,681$330.7K0.2%00.0%UnchangedHistory
DGICBDonegal Group IncCL B17,856$295.5K0.2%00.0%UnchangedHistory
DLXDeluxe CorpCOM13,900$219.8K0.2%00.0%UnchangedHistory
ASRVAmeriserv Financial IncCOM58,200$141.4K0.1%00.0%UnchangedHistory

Sold out since Q4 2024 (2)

Positions held at the end of Q4 2024 that are gone from this filing.

Positions of Minerva Advisors LLC sold out since Q4 2024
SecurityClassShares in Q4 2024Value in Q4 2024% of portfolio in Q4 2024History
USAPUniversal Stainless & Alloy Products IncCOM391,487$17.2M10.1%History
ICCHICC Holdings, Inc.COM33,367$776.1K0.5%History