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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
RMBI icon
51
Richmond Mutual Bancorp
RMBI
$251M
$473K 0.28%
30,000
– –
EBMT icon
52
Eagle Bancorp Montana
EBMT
$187M
$470K 0.27%
21,098
– –
CBU icon
53
Community Bank
CBU
$3.41B
$453K 0.26%
6,618
– –
SSB icon
54
SouthState Bank Corp
SSB
$10.2B
$423K 0.25%
5,661
– –
FRME icon
55
First Merchants
FRME
$2.68B
$413K 0.24%
9,875
– –
NIC icon
56
Nicolet Bankshares
NIC
$3.6B
$413K 0.24%
+5,561
New +$406K
RIVE
57
DELISTED
Riverview Financial Corporation Common Stock
RIVE
$411K 0.24%
31,622
– –
PRA
58
DELISTED
ProAssurance
PRA
$410K 0.24%
17,234
– –
NWFL icon
59
Norwood Financial Corp
NWFL
$370M
$345K 0.2%
13,681
– –
MSVB
60
DELISTED
Mid-Southern Bancorp, Inc.
MSVB
$327K 0.19%
21,706
– –
LUMO
61
DELISTED
Lumos Pharma, Inc. Common Stock
LUMO
$321K 0.19%
+34,015
New +$319K
LSBK icon
62
Lake Shore Bancorp
LSBK
$135M
$293K 0.17%
19,700
– –
NECB icon
63
Northeast Community Bancorp
NECB
$368M
$289K 0.17%
+26,639
New +$280K
TRNS icon
64
Transcat
TRNS
$799M
$288K 0.17%
4,517
-42,535
-90% -$2.71M
DGICA icon
65
Donegal Group Class A
DGICA
$731M
$274K 0.16%
18,881
+7,600
+67% +$114K
OFED
66
DELISTED
Oconee Federal Financial Corp.
OFED
$270K 0.16%
11,451
– –
AE
67
DELISTED
Adams Resources & Energy Inc
AE
$265K 0.15%
8,731
-5,275
-38% -$151K
DGICB
68
Donegal Group Class B
DGICB
$830M
$233K 0.14%
17,856
– –
ASRV icon
69
AmeriServ Financial
ASRV
$77.5M
$225K 0.13%
58,200
-3,000
-5% -$11.5K
EMCF
70
DELISTED
Emclaire Financial Corp
EMCF
$197K 0.11%
7,554
– –
LGL icon
71
LGL Group
LGL
$45.2M
$173K 0.1%
34,213
– –
ICCC icon
72
ImmuCell
ICCC
$101M
$107K 0.06%
11,958
– –
ORKA
73
Oruka Therapeutics
ORKA
$5.82B
$30K 0.02%
+833
New +$30.8K
MFNC
74
DELISTED
Mackinac Financial Corporation
MFNC
– –
-25,283
Closed -$500K
1 2
3

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LWM
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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.