MA

Minerva Advisors Portfolio holdings

AUM $153M
This Quarter Return
+3.88%
1 Year Return
+32.62%
3 Year Return
+110.86%
5 Year Return
+244.8%
10 Year Return
+500.14%
AUM
$184M
AUM Growth
+$184M
Cap. Flow
+$2.96M
Cap. Flow %
1.6%
Top 10 Hldgs %
54.32%
Holding
87
New
2
Increased
9
Reduced
15
Closed
2

Top Buys

1
SGA icon
Saga Communications
SGA
$1.24M
2
USAP
Universal Stainless & Alloy
USAP
$995K
3
EEI
Ecology and Environment
EEI
$491K
4
RAIL icon
FreightCar America
RAIL
$427K
5
AE
Adams Resources & Energy Inc.
AE
$331K

Top Sells

1
GLDD icon
Great Lakes Dredge & Dock
GLDD
$352K
2
AUD
Audacy, Inc.
AUD
$191K
3
TRNS icon
Transcat
TRNS
$76.9K
4
CSS
CSS Industries, Inc.
CSS
$63.9K
5
FSTR icon
Foster
FSTR
$54.4K

Sector Composition

1 Industrials 34.22%
2 Financials 20.31%
3 Materials 11.99%
4 Communication Services 11.01%
5 Consumer Discretionary 6.6%
Name Market Value Portfolio Weight Shares or Principal Shares
Change % 		Capital Flow
GPX
51
DELISTED
GP Strategies Corp.
GPX
$526K 0.29%
34,908
– –
OFED
52
DELISTED
Oconee Federal Financial Corp.
OFED
$524K 0.28%
22,902
– –
NWFL icon
53
Norwood Financial Corp
NWFL
$247M
$519K 0.28%
15,811
– –
FTK icon
54
Flotek Industries
FTK
$343M
$509K 0.28%
25,667
-2,666
-9% -$52.9K
EMCF
55
DELISTED
Emclaire Financial Corp
EMCF
$480K 0.26%
15,359
– –
MFNC
56
DELISTED
Mackinac Financial Corporation
MFNC
$466K 0.25%
30,394
– –
KOSS icon
57
Koss Corp
KOSS
$58.6M
$459K 0.25%
229,869
– –
FRME icon
58
First Merchants
FRME
$2.38B
$453K 0.25%
11,960
– –
LSBK icon
59
Lake Shore Bancorp
LSBK
$105M
$444K 0.24%
29,669
– –
DGICA icon
60
Donegal Group Class A
DGICA
$671M
$430K 0.23%
28,162
– –
TCF
61
DELISTED
TCF Financial Corporation Common Stock
TCF
$429K 0.23%
10,425
– –
RAIL icon
62
FreightCar America
RAIL
$160M
$427K 0.23%
+73,044
New +$427K
EBMT icon
63
Eagle Bancorp Montana
EBMT
$138M
$424K 0.23%
25,598
– –
TFC icon
64
Truist Financial
TFC
$59.8B
$417K 0.23%
8,488
– –
ICCH
65
DELISTED
ICC Holdings, Inc.
ICCH
$415K 0.23%
30,000
– –
DLHC icon
66
DLH Holdings
DLHC
$85M
$391K 0.21%
79,192
– –
HVBC
67
DELISTED
HV Bancorp, Inc. Common Stock
HVBC
$390K 0.21%
25,890
– –
ASML icon
68
ASML
ASML
$290B
$376K 0.2%
1,807
– –
WSFS icon
69
WSFS Financial
WSFS
$3.21B
$374K 0.2%
9,057
-69
-0.8% -$2.85K
PBBI
70
DELISTED
PB Bancorp, Inc. Common Stock
PBBI
$355K 0.19%
30,833
– –
DGICB
71
Donegal Group Class B
DGICB
$543M
$336K 0.18%
25,806
– –
AE
72
DELISTED
Adams Resources & Energy Inc.
AE
$331K 0.18%
+9,826
New +$331K
CIX icon
73
Comp X International
CIX
$296M
$289K 0.16%
17,048
– –
MSVB
74
DELISTED
Mid-Southern Bancorp, Inc.
MSVB
$273K 0.15%
21,706
– –
FSBC
75
DELISTED
FSB Bancorp, Inc. Common Stock
FSBC
$196K 0.11%
11,040
– –
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3
4