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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
+5.62%
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
$139M
AUM Growth
+$4.29M
Cap. Flow
+$1.11M
Cap. Flow %
0.8%
Top 10 Hldgs %
52.92%
Holding
68
New
2
Increased
6
Reduced
5
Closed
1

Top Buys

Rank Stock Value
1
DLHC icon
DLH Holdings
DLHC
+$1.77M
2
TG icon
Tredegar Corp
TG
+$564K
3
FCF icon
First Commonwealth Financial
FCF
+$409K
4
UFI icon
UNIFI
UFI
+$235K
5
GLDD
Great Lakes Dredge & Dock
GLDD
+$198K

Top Sells

Rank Stock Value
1
USLM icon
United States Lime & Minerals
USLM
+$1.7M
2
DALN
DallasNews
DALN
+$293K
3
CECO icon
Ceco Environmental
CECO
+$240K
4
AUD
Audacy, Inc.
AUD
+$17.4K
5
CTGO icon
Contango Silver & Gold Inc
CTGO
+$14.9K

Sector Composition

Rank Sector Weight
1 Industrials 37.97%
2 Financials 16.9%
3 Consumer Discretionary 11.77%
4 Materials 10.2%
5 Communication Services 6.9%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PRA
51
DELISTED
ProAssurance
PRA
$314K 0.23%
17,234
– –
RMBI icon
52
Richmond Mutual Bancorp
RMBI
$250M
$311K 0.22%
30,000
– –
EBMT icon
53
Eagle Bancorp Montana
EBMT
$186M
$293K 0.21%
21,098
– –
DGICB
54
Donegal Group Class B
DGICB
$807M
$269K 0.19%
17,856
– –
FSFG
55
DELISTED
First Savings Financial Group
FSFG
$261K 0.19%
16,221
– –
MSVB
56
DELISTED
Mid-Southern Bancorp, Inc.
MSVB
$247K 0.18%
21,706
– –
LSBK icon
57
Lake Shore Bancorp
LSBK
$135M
$226K 0.16%
19,700
– –
DLX icon
58
Deluxe
DLX
$1.18B
$222K 0.16%
13,900
– –
UFI icon
59
UNIFI
UFI
$118M
$215K 0.15%
+26,336
New +$235K
DLA
60
DELISTED
Delta Apparel Inc.
DLA
$213K 0.15%
19,353
-47
-0.2% -$567
OFED
61
DELISTED
Oconee Federal Financial Corp.
OFED
$212K 0.15%
11,451
– –
ASRV icon
62
AmeriServ Financial
ASRV
$76.8M
$178K 0.13%
58,200
– –
DALN
63
DELISTED
DallasNews
DALN
$129K 0.09%
29,611
-64,377
-68% -$293K
LUMO
64
DELISTED
Lumos Pharma, Inc. Common Stock
LUMO
$112K 0.08%
34,015
– –
PCTI
65
DELISTED
PCTEL, Inc. Common Stock
PCTI
$81.4K 0.06%
19,243
– –
ICCC icon
66
ImmuCell
ICCC
$101M
$61.1K 0.04%
11,958
– –
NXTC icon
67
NextCure
NXTC
$17.7M
$46.9K 0.03%
2,643
– –
AUD
68
DELISTED
Audacy, Inc.
AUD
– –
-77,400
Closed -$17.4K
1 2
3

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Minerva Advisors's Q1 2023 Portfolio in Review

As of Q1 2023, Minerva Advisors held 68 positions worth $139M, up 3.2% from $134M the previous quarter. Its ten largest holdings account for 53% of the portfolio.

Trading was light in Q1 2023: portfolio turnover was 4.4%. Minerva Advisors opened 2 new positions and exited 1, leaving the 68-position portfolio largely intact.

By sector, the portfolio is most concentrated in Industrials at 38% of assets, up from 35% a quarter earlier, followed by Financials and Consumer Discretionary.

  • Minerva Advisors's largest Q1 2023 buy was First Commonwealth Financial: 28,360 shares worth $352K.
  • Minerva Advisors added most to DLH Holdings in Q1 2023, an estimated $1.77M increase.
  • Minerva Advisors's biggest Q1 2023 reduction was United States Lime & Minerals, cutting an estimated $1.7M.
  • Minerva Advisors fully exited Audacy, Inc. in Q1 2023, selling an estimated $17.4K.
  • Minerva Advisors's ten largest holdings make up 53% of its $139M portfolio in Q1 2023.
  • Minerva Advisors opened 2 new positions and closed 1 in Q1 2023.
  • Minerva Advisors's portfolio value rose 3.2% quarter-over-quarter to $139M.

Based on Minerva Advisors's 13F filing for Q1 2023, filed 15 May 2023.