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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
NWFL icon
51
Norwood Financial Corp
NWFL
$355M
$384K 0.26%
13,681
– –
CBU icon
52
Community Bank
CBU
$3.53B
$380K 0.25%
6,618
– –
FRME icon
53
First Merchants
FRME
$2.72B
$370K 0.25%
9,875
– –
SGA icon
54
Saga Communications
SGA
$54.5M
$364K 0.24%
31,831
-194,857
-86% -$2.35M
DGICB
55
Donegal Group Class B
DGICB
$773M
$316K 0.21%
17,856
– –
DLX icon
56
Deluxe
DLX
$1.19B
$310K 0.21%
13,900
– –
ASRV icon
57
AmeriServ Financial
ASRV
$73.6M
$186K 0.12%
58,200
– –
HONE
58
DELISTED
HarborOne Bancorp
HONE
– –
-88,414
Closed -$1.2M
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.