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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
+4.42%
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
$134M
AUM Growth
+$2.36M
Cap. Flow
+$2.31M
Cap. Flow %
1.72%
Top 10 Hldgs %
52.15%
Holding
68
New
2
Increased
14
Reduced
4
Closed
2

Top Buys

Rank Stock Value
1
GLDD
Great Lakes Dredge & Dock
GLDD
+$1.19M
2
TG icon
Tredegar Corp
TG
+$319K
3
ESCA icon
Escalade
ESCA
+$298K
4
DLA
Delta Apparel Inc.
DLA
+$264K
5
ATRO icon
Astronics
ATRO
+$250K

Top Sells

Rank Stock Value
1
USLM icon
United States Lime & Minerals
USLM
+$554K
2
NECB icon
Northeast Community Bancorp
NECB
+$311K
3
LGL icon
LGL Group
LGL
+$146K
4
SGA icon
Saga Communications
SGA
+$104K
5
CECO icon
Ceco Environmental
CECO
+$49.5K

Sector Composition

Rank Sector Weight
1 Industrials 34.93%
2 Financials 18.71%
3 Consumer Discretionary 10.51%
4 Materials 9.91%
5 Communication Services 8.99%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DORM icon
26
Dorman Products
DORM
$3.98B
$1.38M 1.03%
17,090
– –
VBFC
27
DELISTED
Village Bank and Trust Financial Corp.
VBFC
$994K 0.74%
19,745
– –
CZNC icon
28
Citizens & Northern Corp
CZNC
$456M
$978K 0.73%
42,900
– –
MLVF
29
DELISTED
Malvern Bancorp, Inc.
MLVF
$944K 0.7%
53,206
– –
THRY icon
30
Thryv Holdings
THRY
$180M
$944K 0.7%
49,703
– –
CFG icon
31
Citizens Financial Group
CFG
$30.3B
$928K 0.69%
23,585
– –
FNB icon
32
FNB Corp
FNB
$6.73B
$909K 0.68%
69,690
– –
SIF icon
33
SIFCO Industries
SIF
$161M
$798K 0.59%
385,708
– –
FSTR icon
34
Foster
FSTR
$430M
$772K 0.57%
79,798
+14,944
+23% +$152K
HVBC
35
DELISTED
HV Bancorp, Inc. Common Stock
HVBC
$736K 0.55%
25,890
– –
CLBK icon
36
Columbia Financial
CLBK
$1.12B
$731K 0.54%
33,794
– –
DGICA icon
37
Donegal Group Class A
DGICA
$731M
$660K 0.49%
46,490
– –
CRD.B icon
38
Crawford & Co Class B
CRD.B
$491M
$567K 0.42%
106,717
+33,977
+47% +$189K
GVP
39
DELISTED
GSE Systems, Inc.
GVP
$537K 0.4%
76,769
+16,760
+28% +$126K
SCX
40
DELISTED
The L.S. Starrett Company
SCX
$534K 0.4%
73,237
– –
NWBI icon
41
Northwest Bancshares
NWBI
$2.3B
$531K 0.4%
38,000
– –
HBNC icon
42
Horizon Bancorp
HBNC
$1.04B
$528K 0.39%
35,052
– –
ACNT icon
43
Ascent Industries
ACNT
$140M
$523K 0.39%
60,369
– –
CIX icon
44
Comp X International
CIX
$349M
$515K 0.38%
27,847
– –
ICCH
45
DELISTED
ICC Holdings, Inc.
ICCH
$514K 0.38%
33,367
– –
NWFL icon
46
Norwood Financial Corp
NWFL
$370M
$457K 0.34%
13,681
– –
SSB icon
47
SouthState Bank Corp
SSB
$10.2B
$432K 0.32%
5,661
– –
CBU icon
48
Community Bank
CBU
$3.41B
$416K 0.31%
6,618
– –
FRME icon
49
First Merchants
FRME
$2.68B
$406K 0.3%
9,875
– –
RMBI icon
50
Richmond Mutual Bancorp
RMBI
$251M
$390K 0.29%
30,000
– –
1
2
3

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MLIM
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ALAM
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LWM
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RPGNY
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Minerva Advisors's Q4 2022 Portfolio in Review

As of Q4 2022, Minerva Advisors held 68 positions worth $134M, up 1.8% from $132M the previous quarter. Its ten largest holdings account for 52% of the portfolio.

Minerva Advisors's Q4 2022 filing shows 2 new, 14 increased, 4 reduced and 2 closed positions. Its largest new stake was Delta Apparel Inc.: 19,400 shares worth $206K. The largest sale was United States Lime & Minerals, an estimated $554K.

By sector, the portfolio is most concentrated in Industrials at 35% of assets, up from 35% a quarter earlier, followed by Financials and Consumer Discretionary.

  • Minerva Advisors's largest Q4 2022 buy was Delta Apparel Inc.: 19,400 shares worth $206K.
  • Minerva Advisors added most to Great Lakes Dredge & Dock in Q4 2022, an estimated $1.19M increase.
  • Minerva Advisors's biggest Q4 2022 reduction was United States Lime & Minerals, cutting an estimated $554K.
  • Minerva Advisors fully exited Northeast Community Bancorp in Q4 2022, selling an estimated $311K.
  • Minerva Advisors's ten largest holdings make up 52% of its $134M portfolio in Q4 2022.
  • Minerva Advisors opened 2 new positions and closed 2 in Q4 2022.
  • Minerva Advisors's portfolio value rose 1.8% quarter-over-quarter to $134M.

Based on Minerva Advisors's 13F filing for Q4 2022, filed 13 Feb 2023.