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Minerva Advisors Portfolio holdings

AUM $155M
1-Year Est. Return 35.49%
This Fund
S&P 500
This Quarter Est. Return
-4.28%
1 Year Est. Return
+35.49%
3 Year Est. Return
+149.41%
5 Year Est. Return
+142.03%
10 Year Est. Return
+662.71%
AUM
$172M
AUM Growth
-$17.3M
Cap. Flow
-$1.33M
Cap. Flow %
-0.77%
Top 10 Hldgs %
54.93%
Holding
74
New
4
Increased
7
Reduced
11
Closed
1

Top Buys

Rank Stock Value
1
RAIL icon
FreightCar America
RAIL
+$668K
2
CTG
Computer Task Group, Inc.
CTG
+$468K
3
NIC icon
Nicolet Bankshares
NIC
+$406K
4
LUMO
Lumos Pharma, Inc. Common Stock
LUMO
+$319K
5
NECB icon
Northeast Community Bancorp
NECB
+$280K

Top Sells

Rank Stock Value
1
TRNS icon
Transcat
TRNS
+$2.71M
2
MFNC
Mackinac Financial Corporation
MFNC
+$500K
3
STFC
State Auto Financial Corp
STFC
+$326K
4
AE
Adams Resources & Energy Inc
AE
+$151K
5
ISBC
Investors Bancorp, Inc.
ISBC
+$73.9K

Sector Composition

Rank Sector Weight
1 Industrials 36.75%
2 Financials 17.58%
3 Communication Services 9.03%
4 Materials 7.99%
5 Consumer Discretionary 7.72%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
KEQU icon
26
Kewaunee Scientific
KEQU
$102M
$1.77M 1.03%
138,392
– –
DORM icon
27
Dorman Products
DORM
$3.98B
$1.61M 0.94%
17,090
– –
VRS
28
DELISTED
Verso Corporation
VRS
$1.42M 0.82%
68,300
– –
ISBC
29
DELISTED
Investors Bancorp, Inc.
ISBC
$1.2M 0.7%
79,411
-5,300
-6% -$73.9K
DALN
30
DELISTED
DallasNews
DALN
$1.1M 0.64%
162,248
– –
CZNC icon
31
Citizens & Northern Corp
CZNC
$456M
$1.08M 0.63%
42,900
– –
MPB icon
32
Mid Penn Bancorp
MPB
$971M
$1.07M 0.62%
38,951
– –
CECO icon
33
Ceco Environmental
CECO
$3.85B
$1.05M 0.61%
148,829
– –
VBFC
34
DELISTED
Village Bank and Trust Financial Corp.
VBFC
$987K 0.57%
19,745
– –
MLVF
35
DELISTED
Malvern Bancorp, Inc.
MLVF
$902K 0.52%
53,206
– –
DWSN icon
36
Dawson Geophysical
DWSN
$145M
$885K 0.51%
358,336
-3,678
-1% -$8.71K
FSTR icon
37
Foster
FSTR
$430M
$856K 0.5%
55,263
– –
FNB icon
38
FNB Corp
FNB
$6.73B
$810K 0.47%
69,690
– –
GVP
39
DELISTED
GSE Systems, Inc.
GVP
$777K 0.45%
52,832
– –
VOLT
40
DELISTED
Volt Information Sciences, Inc.
VOLT
$734K 0.43%
209,265
– –
SCX
41
DELISTED
The L.S. Starrett Company
SCX
$728K 0.42%
58,237
-1,200
-2% -$11.1K
HBNC icon
42
Horizon Bancorp
HBNC
$1.04B
$637K 0.37%
35,052
– –
CLBK icon
43
Columbia Financial
CLBK
$1.12B
$625K 0.36%
33,794
– –
CIX icon
44
Comp X International
CIX
$349M
$620K 0.36%
29,847
– –
ACNT icon
45
Ascent Industries
ACNT
$140M
$602K 0.35%
55,850
– –
HVBC
46
DELISTED
HV Bancorp, Inc. Common Stock
HVBC
$568K 0.33%
25,890
– –
AUD
47
DELISTED
Audacy, Inc.
AUD
$552K 0.32%
149,900
-16,000
-10% -$56K
ICCH
48
DELISTED
ICC Holdings, Inc.
ICCH
$534K 0.31%
33,367
– –
NWBI icon
49
Northwest Bancshares
NWBI
$2.3B
$505K 0.29%
38,000
– –
DLX icon
50
Deluxe
DLX
$1.18B
$499K 0.29%
13,900
– –
1
2
3

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Minerva Advisors's Q3 2021 Portfolio in Review

As of Q3 2021, Minerva Advisors held 74 positions worth $172M, down 9.1% from $189M the previous quarter. Its ten largest holdings account for 55% of the portfolio.

Minerva Advisors's Q3 2021 filing shows 4 new, 7 increased, 11 reduced and 1 closed positions. Its largest new stake was Nicolet Bankshares: 5,561 shares worth $413K. The largest sale was Transcat, an estimated $2.71M.

By sector, the portfolio is most concentrated in Industrials at 37% of assets, down from 38% a quarter earlier, followed by Financials and Communication Services.

  • Minerva Advisors's largest Q3 2021 buy was Nicolet Bankshares: 5,561 shares worth $413K.
  • Minerva Advisors added most to FreightCar America in Q3 2021, an estimated $668K increase.
  • Minerva Advisors's biggest Q3 2021 reduction was Transcat, cutting an estimated $2.71M.
  • Minerva Advisors fully exited Mackinac Financial Corporation in Q3 2021, selling an estimated $500K.
  • Minerva Advisors's ten largest holdings make up 55% of its $172M portfolio in Q3 2021.
  • Minerva Advisors opened 4 new positions and closed 1 in Q3 2021.
  • Minerva Advisors's portfolio value fell 9.1% quarter-over-quarter to $172M.

Based on Minerva Advisors's 13F filing for Q3 2021, filed 12 Nov 2021.