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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
+24.63%
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
$160M
AUM Growth
+$17M
Cap. Flow
-$11.1M
Cap. Flow %
-6.92%
Top 10 Hldgs %
60.83%
Holding
65
New
3
Increased
10
Reduced
6
Closed
6

Top Buys

Rank Stock Value
1
TG icon
Tredegar Corp
TG
+$1.85M
2
UIS icon
Unisys
UIS
+$1.47M
3
EML icon
Eastern Company
EML
+$1.2M
4
UFI icon
UNIFI
UFI
+$724K
5
SGA icon
Saga Communications
SGA
+$594K

Top Sells

Rank Stock Value
1
CTG
Computer Task Group, Inc.
CTG
+$13M
2
CCF
Chase Corporation
CCF
+$3.05M
3
PATI
Patriot Transportation Holding, Inc. Common Stock
PATI
+$1.76M
4
CECO icon
Ceco Environmental
CECO
+$571K
5
ESCA icon
Escalade
ESCA
+$290K

Sector Composition

Rank Sector Weight
1 Industrials 33.18%
2 Consumer Discretionary 20.17%
3 Financials 15.96%
4 Materials 11.49%
5 Communication Services 6.4%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EBMT icon
51
Eagle Bancorp Montana
EBMT
$186M
$331K 0.21%
21,098
– –
DLX icon
52
Deluxe
DLX
$1.18B
$298K 0.19%
13,900
– –
CPBI icon
53
Central Plains Bancshares
CPBI
$83.3M
$298K 0.19%
+29,395
New +$284K
FSFG
54
DELISTED
First Savings Financial Group
FSFG
$273K 0.17%
16,221
– –
PBBK
55
DELISTED
PB Bankshares
PBBK
$257K 0.16%
+20,560
New +$249K
PRA
56
DELISTED
ProAssurance
PRA
$238K 0.15%
17,234
– –
DGICB
57
Donegal Group Class B
DGICB
$807M
$235K 0.15%
17,856
– –
ASRV icon
58
AmeriServ Financial
ASRV
$76.8M
$182K 0.11%
58,200
– –
GVP
59
DELISTED
GSE Systems, Inc.
GVP
$155K 0.1%
77,341
-9,724
-11% -$26.4K
DLA
60
DELISTED
Delta Apparel Inc.
DLA
– –
-19,353
Closed -$127K
PATI
61
DELISTED
Patriot Transportation Holding, Inc. Common Stock
PATI
– –
-215,576
Closed -$1.76M
PCTI
62
DELISTED
PCTEL, Inc. Common Stock
PCTI
– –
-31,243
Closed -$129K
CTG
63
DELISTED
Computer Task Group, Inc.
CTG
– –
-1,254,558
Closed -$13M
CCF
64
DELISTED
Chase Corporation
CCF
– –
-23,951
Closed -$3.05M
1 2
3

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Minerva Advisors's Q4 2023 Portfolio in Review

As of Q4 2023, Minerva Advisors held 65 positions worth $160M, up 12% from $143M the previous quarter. Its ten largest holdings account for 61% of the portfolio.

Minerva Advisors withdrew a net $11.1M in Q4 2023, closing 6 positions and reducing 6 holdings. Its most notable exit was Computer Task Group, Inc., an estimated $13M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 33% of assets, down from 34% a quarter earlier, followed by Consumer Discretionary and Financials.

Against the trend, Minerva Advisors opened a new position in Unisys worth $1.94M.

  • Minerva Advisors's largest Q4 2023 buy was Unisys: 345,347 shares worth $1.94M.
  • Minerva Advisors added most to Tredegar Corp in Q4 2023, an estimated $1.85M increase.
  • Minerva Advisors's biggest Q4 2023 reduction was Ceco Environmental, cutting an estimated $571K.
  • Minerva Advisors fully exited Computer Task Group, Inc. in Q4 2023, selling an estimated $13M.
  • Minerva Advisors's ten largest holdings make up 61% of its $160M portfolio in Q4 2023.
  • Minerva Advisors opened 3 new positions and closed 6 in Q4 2023.
  • Minerva Advisors's portfolio value rose 12% quarter-over-quarter to $160M.

Based on Minerva Advisors's 13F filing for Q4 2023, filed 9 Feb 2024.