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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
-0.64%
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
-$7.73M
Cap. Flow
-$2.9M
Cap. Flow %
-1.94%
Top 10 Hldgs %
59.94%
Holding
58
New
2
Increased
10
Reduced
6
Closed
1

Top Buys

Rank Stock Value
1
KEQU icon
Kewaunee Scientific
KEQU
+$1.69M
2
EBC icon
Eastern Bankshares
EBC
+$1.15M
3
FMC icon
FMC
FMC
+$915K
4
VIRC icon
Virco
VIRC
+$596K
5
INFU icon
InfuSystem Holdings
INFU
+$507K

Top Sells

Rank Stock Value
1
ATRO icon
Astronics
ATRO
+$4.67M
2
SGA icon
Saga Communications
SGA
+$2.35M
3
HONE
HarborOne Bancorp
HONE
+$1.2M
4
THRY icon
Thryv Holdings
THRY
+$427K
5
DLHC icon
DLH Holdings
DLHC
+$21.8K

Sector Composition

Rank Sector Weight
1 Industrials 40.85%
2 Financials 20.01%
3 Consumer Discretionary 17.9%
4 Healthcare 9.96%
5 Communication Services 3.94%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DORM icon
26
Dorman Products
DORM
$4.01B
$1.06M 0.71%
8,590
– –
UIS icon
27
Unisys
UIS
$227M
$953K 0.64%
345,347
– –
DGICA icon
28
Donegal Group Class A
DGICA
$695M
$929K 0.62%
46,490
– –
THRY icon
29
Thryv Holdings
THRY
$169M
$897K 0.6%
148,329
-54,000
-27% -$427K
ECBK icon
30
ECB Bancorp
ECBK
$174M
$868K 0.58%
49,940
– –
CZNC icon
31
Citizens & Northern Corp
CZNC
$436M
$865K 0.58%
42,900
– –
CPBI icon
32
Central Plains Bancshares
CPBI
$82.8M
$831K 0.56%
49,117
– –
USLM icon
33
United States Lime & Minerals
USLM
$3.18B
$748K 0.5%
6,250
– –
MBBC
34
Marathon Bancorp
MBBC
$43.4M
$717K 0.48%
58,976
– –
FRBA icon
35
First Bank
FRBA
$451M
$677K 0.45%
41,143
– –
FMC icon
36
FMC
FMC
$1.42B
$666K 0.44%
+48,000
New +$915K
LSBK icon
37
Lake Shore Bancorp
LSBK
$135M
$649K 0.43%
44,259
– –
HBNC icon
38
Horizon Bancorp
HBNC
$1.03B
$594K 0.4%
35,052
– –
SSB icon
39
SouthState Bank Corp
SSB
$10.4B
$533K 0.36%
5,661
– –
CLBK icon
40
Columbia Financial
CLBK
$1.13B
$525K 0.35%
33,794
– –
FSFG
41
DELISTED
First Savings Financial Group
FSFG
$517K 0.35%
16,221
– –
KELYA icon
42
Kelly Services Class A
KELYA
$526M
$514K 0.34%
58,400
+18,400
+46% +$187K
ACNT icon
43
Ascent Industries
ACNT
$137M
$492K 0.33%
30,415
– –
NWBI icon
44
Northwest Bancshares
NWBI
$2.25B
$456K 0.3%
38,000
– –
CZFS icon
45
Citizens Financial Services
CZFS
$360M
$449K 0.3%
7,881
– –
PBBK
46
DELISTED
PB Bankshares
PBBK
$435K 0.29%
20,560
– –
FCF icon
47
First Commonwealth Financial
FCF
$2.12B
$431K 0.29%
25,560
– –
RMBI icon
48
Richmond Mutual Bancorp
RMBI
$249M
$424K 0.28%
30,224
+224
+0.7% +$3.07K
EBMT icon
49
Eagle Bancorp Montana
EBMT
$186M
$420K 0.28%
21,098
– –
PRA
50
DELISTED
ProAssurance
PRA
$416K 0.28%
17,234
– –
1
2
3

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Minerva Advisors's Q4 2025 Portfolio in Review

As of Q4 2025, Minerva Advisors held 58 positions worth $150M, down 4.9% from $157M the previous quarter. Its ten largest holdings account for 60% of the portfolio.

Minerva Advisors's Q4 2025 filing shows 2 new, 10 increased, 6 reduced and 1 closed positions. Its largest new stake was Eastern Bankshares: 62,576 shares worth $1.15M. The largest sale was Astronics, an estimated $4.67M.

By sector, the portfolio is most concentrated in Industrials at 41% of assets, down from 42% a quarter earlier, followed by Financials and Consumer Discretionary.

  • Minerva Advisors's largest Q4 2025 buy was Eastern Bankshares: 62,576 shares worth $1.15M.
  • Minerva Advisors added most to Kewaunee Scientific in Q4 2025, an estimated $1.69M increase.
  • Minerva Advisors's biggest Q4 2025 reduction was Astronics, cutting an estimated $4.67M.
  • Minerva Advisors fully exited HarborOne Bancorp in Q4 2025, selling an estimated $1.2M.
  • Minerva Advisors's ten largest holdings make up 60% of its $150M portfolio in Q4 2025.
  • Minerva Advisors opened 2 new positions and closed 1 in Q4 2025.
  • Minerva Advisors's portfolio value fell 4.9% quarter-over-quarter to $150M.

Based on Minerva Advisors's 13F filing for Q4 2025, filed 9 Feb 2026.