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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
-0.12%
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
$150M
AUM Growth
-$13.3M
Cap. Flow
-$9.84M
Cap. Flow %
-6.56%
Top 10 Hldgs %
63.27%
Holding
60
New
1
Increased
10
Reduced
7
Closed
3

Top Buys

Rank Stock Value
1
UFI icon
UNIFI
UFI
+$872K
2
TG icon
Tredegar Corp
TG
+$658K
3
UTMD icon
Utah Medical Products
UTMD
+$513K
4
EML icon
Eastern Company
EML
+$304K
5
SSP icon
E.W. Scripps
SSP
+$285K

Top Sells

Rank Stock Value
1
USAP
Universal Stainless & Alloy
USAP
+$7.32M
2
SCX
The L.S. Starrett Company
SCX
+$2.34M
3
KEQU icon
Kewaunee Scientific
KEQU
+$1.39M
4
CECO icon
Ceco Environmental
CECO
+$1.13M
5
NVGS icon
Navigator Holdings
NVGS
+$339K

Sector Composition

Rank Sector Weight
1 Industrials 34.97%
2 Consumer Discretionary 22.21%
3 Financials 16.4%
4 Materials 10.91%
5 Healthcare 4.18%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MPB icon
26
Mid Penn Bancorp
MPB
$968M
$1.13M 0.75%
51,732
– –
HONE
27
DELISTED
HarborOne Bancorp
HONE
$983K 0.66%
88,414
+16,000
+22% +$164K
VBFC
28
DELISTED
Village Bank and Trust Financial Corp.
VBFC
$884K 0.59%
19,745
– –
FNB icon
29
FNB Corp
FNB
$6.74B
$877K 0.58%
64,075
– –
CFG icon
30
Citizens Financial Group
CFG
$30.3B
$849K 0.57%
23,585
– –
CZNC icon
31
Citizens & Northern Corp
CZNC
$455M
$760K 0.51%
42,900
– –
ICCH
32
DELISTED
ICC Holdings, Inc.
ICCH
$747K 0.5%
33,367
– –
DGICA icon
33
Donegal Group Class A
DGICA
$719M
$596K 0.4%
46,490
– –
FRBA icon
34
First Bank
FRBA
$463M
$521K 0.35%
41,143
– –
CLBK icon
35
Columbia Financial
CLBK
$1.12B
$506K 0.34%
33,794
– –
UTMD icon
36
Utah Medical Products
UTMD
$225M
$503K 0.34%
+7,534
New +$513K
CPBI icon
37
Central Plains Bancshares
CPBI
$83.3M
$497K 0.33%
49,117
+4,046
+9% +$40.8K
ECBK icon
38
ECB Bancorp
ECBK
$177M
$455K 0.3%
36,440
+4,075
+13% +$50.4K
USLM icon
39
United States Lime & Minerals
USLM
$3.14B
$452K 0.3%
6,250
– –
NWBI icon
40
Northwest Bancshares
NWBI
$2.3B
$439K 0.29%
38,000
– –
HBNC icon
41
Horizon Bancorp
HBNC
$1.05B
$433K 0.29%
35,052
– –
SSB icon
42
SouthState Bank Corp
SSB
$10.2B
$432K 0.29%
5,661
– –
LSBK icon
43
Lake Shore Bancorp
LSBK
$135M
$362K 0.24%
30,118
– –
FCF icon
44
First Commonwealth Financial
FCF
$2.17B
$353K 0.24%
25,560
– –
RMBI icon
45
Richmond Mutual Bancorp
RMBI
$250M
$352K 0.23%
30,000
– –
CZFS icon
46
Citizens Financial Services
CZFS
$361M
$351K 0.23%
7,881
– –
NWFL icon
47
Norwood Financial Corp
NWFL
$367M
$343K 0.23%
13,681
– –
ACNT icon
48
Ascent Industries
ACNT
$140M
$334K 0.22%
34,915
-20,678
-37% -$211K
FRME icon
49
First Merchants
FRME
$2.69B
$329K 0.22%
9,875
– –
CBU icon
50
Community Bank
CBU
$3.41B
$312K 0.21%
6,618
– –
1
2
3

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Minerva Advisors's Q2 2024 Portfolio in Review

As of Q2 2024, Minerva Advisors held 60 positions worth $150M, down 8.2% from $163M the previous quarter. Its ten largest holdings account for 63% of the portfolio.

Minerva Advisors withdrew a net $9.84M in Q2 2024, closing 3 positions and reducing 7 holdings. Its most notable exit was The L.S. Starrett Company, an estimated $2.34M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 35% of assets, down from 39% a quarter earlier, followed by Consumer Discretionary and Financials.

Against the trend, Minerva Advisors opened a new position in Utah Medical Products worth $503K.

  • Minerva Advisors's largest Q2 2024 buy was Utah Medical Products: 7,534 shares worth $503K.
  • Minerva Advisors added most to UNIFI in Q2 2024, an estimated $872K increase.
  • Minerva Advisors's biggest Q2 2024 reduction was Universal Stainless & Alloy, cutting an estimated $7.32M.
  • Minerva Advisors fully exited The L.S. Starrett Company in Q2 2024, selling an estimated $2.34M.
  • Minerva Advisors's ten largest holdings make up 63% of its $150M portfolio in Q2 2024.
  • Minerva Advisors opened 1 new position and closed 3 in Q2 2024.
  • Minerva Advisors's portfolio value fell 8.2% quarter-over-quarter to $150M.

Based on Minerva Advisors's 13F filing for Q2 2024, filed 12 Aug 2024.