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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
CCF
1
DELISTED
Chase Corporation
CCF
$12.6M 9.08%
120,253
– –
CTG
2
DELISTED
Computer Task Group, Inc.
CTG
$9.11M 6.57%
1,256,347
– –
ESCA icon
3
Escalade
ESCA
$275M
$8.01M 5.78%
553,521
– –
EML icon
4
Eastern Company
EML
$144M
$7.82M 5.64%
409,176
– –
USAP
5
DELISTED
Universal Stainless & Alloy
USAP
$6.79M 4.9%
738,427
– –
INFU icon
6
InfuSystem Holdings
INFU
$188M
$6.62M 4.78%
846,851
– –
GLDD
7
DELISTED
Great Lakes Dredge & Dock
GLDD
$6.54M 4.72%
1,208,298
+33,000
+3% +$198K
ATRO icon
8
Astronics
ATRO
$3.44B
$6.16M 4.45%
555,726
– –
SSP icon
9
E.W. Scripps
SSP
$257M
$4.9M 3.54%
523,407
– –
NVGS icon
10
Navigator Holdings
NVGS
$1.37B
$4.82M 3.48%
344,612
– –
SGA icon
11
Saga Communications
SGA
$56.9M
$4.53M 3.27%
204,794
– –
PBHC icon
12
Pathfinder Bancorp
PBHC
$102M
$4.35M 3.13%
251,649
– –
USLM icon
13
United States Lime & Minerals
USLM
$3.17B
$4.05M 2.92%
136,790
-55,800
-29% -$1.7M
TG icon
14
Tredegar Corp
TG
$263M
$3.92M 2.83%
430,574
+50,900
+13% +$564K
DLHC icon
15
DLH Holdings
DLHC
$71M
$3.84M 2.77%
342,838
+147,649
+76% +$1.77M
VIRC icon
16
Virco
VIRC
$94.4M
$3.68M 2.65%
928,941
– –
CAC icon
17
Camden National
CAC
$981M
$3.23M 2.33%
89,568
– –
CTGO icon
18
Contango Silver & Gold Inc
CTGO
$525M
$2.74M 1.97%
97,331
-614
-0.6% -$14.9K
KEQU icon
19
Kewaunee Scientific
KEQU
$106M
$2.73M 1.97%
172,919
+2,378
+1% +$37.7K
RAIL icon
20
FreightCar America
RAIL
$263M
$2.5M 1.8%
806,412
– –
PATI
21
DELISTED
Patriot Transportation Holding, Inc. Common Stock
PATI
$1.96M 1.41%
246,583
– –
WLMS
22
DELISTED
Williams Industrial Services Group Inc.
WLMS
$1.94M 1.4%
1,885,277
– –
CECO icon
23
Ceco Environmental
CECO
$3.9B
$1.78M 1.29%
127,508
-16,950
-12% -$240K
NODK icon
24
NI Holdings
NODK
$314M
$1.66M 1.2%
129,900
– –
DORM icon
25
Dorman Products
DORM
$3.98B
$1.47M 1.06%
17,090
– –
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.