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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
GLDD
1
DELISTED
Great Lakes Dredge & Dock
GLDD
$14.8M 8.62%
982,540
– –
CCF
2
DELISTED
Chase Corporation
CCF
$12.3M 7.14%
120,253
-400
-0.3% -$44.6K
INFU icon
3
InfuSystem Holdings
INFU
$187M
$11M 6.41%
846,351
– –
CTG
4
DELISTED
Computer Task Group, Inc.
CTG
$9.7M 5.64%
1,217,404
+53,303
+5% +$468K
SSP icon
5
E.W. Scripps
SSP
$255M
$9.46M 5.5%
523,407
– –
EML icon
6
Eastern Company
EML
$142M
$8.17M 4.75%
326,937
– –
WLMS
7
DELISTED
Williams Industrial Services Group Inc.
WLMS
$7.86M 4.57%
1,848,450
– –
GPX
8
DELISTED
GP Strategies Corp.
GPX
$7.2M 4.19%
347,935
+3,212
+0.9% +$63.7K
USAP
9
DELISTED
Universal Stainless & Alloy
USAP
$6.98M 4.06%
691,253
– –
ESCA icon
10
Escalade
ESCA
$275M
$6.96M 4.05%
368,055
– –
ATRO icon
11
Astronics
ATRO
$3.44B
$4.81M 2.79%
410,144
+6,000
+1% +$76.1K
USLM icon
12
United States Lime & Minerals
USLM
$3.14B
$4.75M 2.76%
197,305
-1,100
-0.6% -$30.6K
CAC icon
13
Camden National
CAC
$983M
$4.45M 2.59%
92,968
-1,245
-1% -$57.4K
SGA icon
14
Saga Communications
SGA
$57.5M
$4.42M 2.57%
196,337
+8,428
+4% +$191K
PBHC icon
15
Pathfinder Bancorp
PBHC
$101M
$4.09M 2.38%
254,045
– –
SIF icon
16
SIFCO Industries
SIF
$166M
$3.32M 1.93%
385,708
– –
PATI
17
DELISTED
Patriot Transportation Holding, Inc. Common Stock
PATI
$3.31M 1.93%
293,070
– –
NVGS icon
18
Navigator Holdings
NVGS
$1.38B
$2.96M 1.72%
334,712
+4,500
+1% +$41.4K
VIRC icon
19
Virco
VIRC
$94.7M
$2.93M 1.7%
859,446
– –
RAIL icon
20
FreightCar America
RAIL
$264M
$2.76M 1.61%
614,121
+126,711
+26% +$668K
STFC
21
DELISTED
State Auto Financial Corp
STFC
$2.62M 1.52%
51,338
-6,881
-12% -$326K
NODK icon
22
NI Holdings
NODK
$309M
$2.28M 1.33%
129,900
– –
CNBKA
23
DELISTED
Century Bancorp Inc/Mass
CNBKA
$1.96M 1.14%
17,034
– –
DLHC icon
24
DLH Holdings
DLHC
$71M
$1.83M 1.07%
152,178
– –
THRY icon
25
Thryv Holdings
THRY
$179M
$1.8M 1.05%
59,703
– –
1
2 3

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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.