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Minerva Advisors Portfolio holdings

AUM $158M Turnover 4.17%
1-Year Est. Return 42.05%
This Fund
S&P 500
This Quarter Est. Return
+17.69%
1 Year Est. Return
+42.05%
3 Year Est. Return
+165.7%
5 Year Est. Return
+166.92%
10 Year Est. Return
+768.29%
AUM
$158M
AUM Growth
+$3.37M
Cap. Flow
-$15.5M
Cap. Flow %
-9.82%
Top 10 Hldgs %
60.68%
Holding
48
New
–
Increased
10
Reduced
5
Closed
2
Avg Time Held
8.5 years
Top 10 Avg Time Held
3.4 years
Top 20 Avg Time Held
5.8 years

Top Buys

Rank Stock Value
1
INFU icon
InfuSystem Holdings
INFU
+$1.37M
2
SSP icon
E.W. Scripps
SSP
+$1.16M
3
CLBK icon
Columbia Financial
CLBK
+$1.08M
4
KELYA icon
Kelly Services Class A
KELYA
+$555K
5
KEQU icon
Kewaunee Scientific
KEQU
+$471K

Top Sells

Rank Stock Value
1
GLDD icon
Great Lakes Dredge & Dock
GLDD
+$17.5M
2
ATRO icon
Astronics
ATRO
+$2M
3
FSTR icon
Foster
FSTR
+$598K
4
SIF icon
SIFCO Industries
SIF
+$455K
5
PRA icon
ProAssurance
PRA
+$426K

Sector Composition

Rank Sector Weight
1 Industrials 37.7%
2 Financials 21.17%
3 Consumer Discretionary 19.82%
4 Healthcare 12.3%
5 Energy 3.49%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
EML icon
1
Eastern Company
EML
$143M
$15.2M 9.61%
546,402
– –
2013 Q2
52 quarters
TG icon
2
Tredegar Corp
TG
$275M
$13.3M 8.38%
1,665,607
– –
2021 Q4
18 quarters
INFU icon
3
InfuSystem Holdings
INFU
$274M
$13M 8.22%
1,348,617
+144,512
+12% +$1.37M
2013 Q2
52 quarters
SIF icon
4
SIFCO Industries
SIF
$132M
$10.7M 6.74%
455,650
-25,000
-5% -$455K
2013 Q2
52 quarters
ESCA icon
5
Escalade
ESCA
$255M
$10.7M 6.73%
567,222
-399
-0.1% -$7.38K
2013 Q2
52 quarters
VIRC icon
6
Virco
VIRC
$101M
$9.43M 5.96%
1,535,454
+18,002
+1% +$109K
2013 Q2
52 quarters
UTMD icon
7
Utah Medical Products
UTMD
$237M
$6.46M 4.08%
93,615
– –
2024 Q2
8 quarters
UFI icon
8
UNIFI
UFI
$104M
$5.98M 3.78%
1,258,792
+166
+0% +$661
2023 Q1
13 quarters
DLHC icon
9
DLH Holdings
DLHC
$57.2M
$5.86M 3.7%
1,116,368
+3,331
+0.3% +$18.9K
2019 Q1
29 quarters
NVGS icon
10
Navigator Holdings
NVGS
$1.28B
$5.52M 3.49%
296,212
– –
2013 Q4
50 quarters
KEQU icon
11
Kewaunee Scientific
KEQU
$93.4M
$5.31M 3.35%
149,410
+12,705
+9% +$471K
2019 Q3
27 quarters
SSP icon
12
E.W. Scripps
SSP
$249M
$5.08M 3.21%
1,832,707
+306,217
+20% +$1.16M
2013 Q2
52 quarters
CAC icon
13
Camden National
CAC
$943M
$4.86M 3.07%
89,568
– –
2013 Q2
52 quarters
ATRO icon
14
Astronics
ATRO
$2.69B
$4.47M 2.83%
55,041
-29,367
-35% -$2M
2013 Q2
52 quarters
PBHC icon
15
Pathfinder Bancorp
PBHC
$108M
$4.16M 2.63%
262,204
– –
2013 Q2
52 quarters
RAIL icon
16
FreightCar America
RAIL
$192M
$3.69M 2.33%
379,030
+38,007
+11% +$320K
2019 Q2
28 quarters
KELYA icon
17
Kelly Services Class A
KELYA
$527M
$3.11M 1.96%
253,162
+53,366
+27% +$555K
2025 Q2
4 quarters
FSTR icon
18
Foster
FSTR
$368M
$3.07M 1.94%
67,922
-16,043
-19% -$598K
2013 Q2
52 quarters
CRD.B icon
19
Crawford & Co Class B
CRD.B
$563M
$3.01M 1.9%
288,178
– –
2022 Q3
15 quarters
NODK icon
20
NI Holdings
NODK
$301M
$2.04M 1.29%
129,900
– –
2017 Q1
37 quarters
CLBK icon
21
Columbia Financial
CLBK
$2.85B
$1.89M 1.2%
196,447
+122,100
+164% +$1.08M
2018 Q4
30 quarters
MPB icon
22
Mid Penn Bancorp
MPB
$908M
$1.89M 1.19%
54,177
– –
2018 Q3
31 quarters
CFG icon
23
Citizens Financial Group
CFG
$26.3B
$1.51M 0.95%
21,485
– –
2022 Q2
16 quarters
EBC icon
24
Eastern Bankshares
EBC
$4.79B
$1.39M 0.88%
62,576
– –
2025 Q4
2 quarters
UIS icon
25
Unisys
UIS
$163M
$1.26M 0.8%
345,347
– –
2023 Q4
10 quarters
1
2

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Minerva Advisors's Q2 2026 Portfolio in Review

As of Q2 2026, Minerva Advisors held 48 positions worth $158M, up 2.2% from $155M the previous quarter. Its ten largest holdings account for 61% of the portfolio.

Minerva Advisors withdrew a net $15.5M in Q2 2026, closing 2 positions and reducing 5 holdings. Its most notable exit was Great Lakes Dredge & Dock, an estimated $17.5M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 38% of assets, down from 43% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, Minerva Advisors added an estimated $1.37M to InfuSystem Holdings.

  • Minerva Advisors added most to InfuSystem Holdings in Q2 2026, an estimated $1.37M increase.
  • Minerva Advisors's biggest Q2 2026 reduction was Astronics, cutting an estimated $2M.
  • Minerva Advisors fully exited Great Lakes Dredge & Dock in Q2 2026, selling an estimated $17.5M.
  • Minerva Advisors's ten largest holdings make up 61% of its $158M portfolio in Q2 2026.
  • Minerva Advisors opened 0 new positions and closed 2 in Q2 2026.
  • Minerva Advisors's portfolio value rose 2.2% quarter-over-quarter to $158M.

Based on Minerva Advisors's 13F filing for Q2 2026, filed 12 Aug 2026.