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MA
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
(+2.2%)
Cap. Flow
-$15.5M
Cap. Flow % of AUM
Cap. Flow %
-9.82%
Top 10 Holdings %
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 |
InfuSystem Holdings
INFU
|
+$1.37M |
| 2 |
E.W. Scripps
SSP
|
+$1.16M |
| 3 |
Columbia Financial
CLBK
|
+$1.08M |
| 4 |
Kelly Services Class A
KELYA
|
+$555K |
| 5 |
Kewaunee Scientific
KEQU
|
+$471K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Great Lakes Dredge & Dock
GLDD
|
+$17.5M |
| 2 |
Astronics
ATRO
|
+$2M |
| 3 |
Foster
FSTR
|
+$598K |
| 4 |
SIFCO Industries
SIF
|
+$455K |
| 5 |
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 | |
|---|---|---|---|---|---|---|---|
26
FNB Corp
FNB
$6.38B
| $1.22M | 0.77% |
64,075
| – | – |
2014 Q1
49 quarters
|
|
27
First Merchants
FRME
$2.55B
| $1.03M | 0.65% |
23,662
| – | – |
2014 Q1
49 quarters
|
|
28
ECB Bancorp
ECBK
$187M
| $1M | 0.63% |
49,940
| – | – |
2023 Q3
11 quarters
|
|
29
Citizens & Northern Corp
CZNC
$503M
| $1000K | 0.63% |
42,900
| – | – |
2013 Q2
52 quarters
|
|
30
Contango Silver & Gold Inc
CTGO
$459M
| $942K | 0.6% |
59,647
| – | – |
2021 Q4
18 quarters
|
|
31
Central Plains Bancshares
CPBI
$80.2M
| $935K | 0.59% |
49,117
| – | – |
2023 Q4
10 quarters
|
|
32
Norwood Financial Corp
NWFL
$388M
| $919K | 0.58% |
28,580
| – | – |
2013 Q2
52 quarters
|
|
33
FMC
FMC
$964M
| $897K | 0.57% |
78,000
+30,000
| +63% | +$419K |
2025 Q4
2 quarters
|
|
34
Donegal Group Class A
DGICA
$695M
| $877K | 0.55% |
46,490
| – | – |
2013 Q2
52 quarters
|
|
35
Marathon Bancorp
MBBC
| $852K | 0.54% |
55,750
-3,226
| -5% | -$46.4K |
2025 Q2
4 quarters
|
|
36
Lake Shore Bancorp
LSBK
$145M
| $788K | 0.5% |
44,259
| – | – |
2013 Q2
52 quarters
|
|
37
First Bank
FRBA
$481M
| $729K | 0.46% |
41,143
| – | – |
2023 Q3
11 quarters
|
|
38
Horizon Bancorp
HBNC
$1.06B
| $700K | 0.44% |
35,052
| – | – |
2015 Q3
43 quarters
|
|
39
Northwest Bancshares
NWBI
$2.23B
| $576K | 0.36% |
38,000
| – | – |
2013 Q2
52 quarters
|
|
40
Thryv Holdings
THRY
$55.5M
| $569K | 0.36% |
144,329
| – | – |
2020 Q4
22 quarters
|
|
41
First Commonwealth Financial
FCF
$2.04B
| $520K | 0.33% |
25,560
| – | – |
2023 Q1
13 quarters
|
|
42
Eagle Bancorp Montana
EBMT
$169M
| $505K | 0.32% |
21,098
| – | – |
2013 Q2
52 quarters
|
|
43
Richmond Mutual Bancorp
RMBI
$254M
| $480K | 0.3% |
30,224
| – | – |
2019 Q3
27 quarters
|
|
44
Donegal Group Class B
DGICB
$928M
| $389K | 0.25% |
17,856
| – | – |
2013 Q2
52 quarters
|
|
45
Deluxe
DLX
$1.04B
| $332K | 0.21% |
13,900
| – | – |
2013 Q2
52 quarters
|
|
46
AmeriServ Financial
ASRV
$83.4M
| $226K | 0.14% |
58,200
| – | – |
2013 Q2
52 quarters
|
|
|
47
DELISTED
Great Lakes Dredge & Dock
GLDD
| – | – |
-1,029,703
| Closed | -$17.5M | – |
|
|
48
DELISTED
ProAssurance
PRA
| – | – |
-17,234
| Closed | -$426K | – |
|
Similar funds
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.