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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
+7.94%
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
$157M
AUM Growth
+$4.86M
Cap. Flow
+$410K
Cap. Flow %
0.26%
Top 10 Hldgs %
61.64%
Holding
56
New
–
Increased
12
Reduced
2
Closed
–

Top Buys

Rank Stock Value
1
VIRC icon
Virco
VIRC
+$643K
2
SSP icon
E.W. Scripps
SSP
+$388K
3
RAIL icon
FreightCar America
RAIL
+$377K
4
UFI icon
UNIFI
UFI
+$310K
5
INFU icon
InfuSystem Holdings
INFU
+$257K

Top Sells

Rank Stock Value
1
ATRO icon
Astronics
ATRO
+$2.22M
2
CFG icon
Citizens Financial Group
CFG
+$105K

Sector Composition

Rank Sector Weight
1 Industrials 42.23%
2 Financials 18.39%
3 Consumer Discretionary 17.61%
4 Healthcare 10.47%
5 Communication Services 3.96%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GLDD
1
DELISTED
Great Lakes Dredge & Dock
GLDD
$16.7M 10.58%
1,389,807
– –
TG icon
2
Tredegar Corp
TG
$269M
$13.3M 8.45%
1,657,107
– –
EML icon
3
Eastern Company
EML
$149M
$12.4M 7.9%
530,053
+5,000
+1% +$118K
INFU icon
4
InfuSystem Holdings
INFU
$185M
$10.6M 6.75%
1,025,789
+31,008
+3% +$257K
VIRC icon
5
Virco
VIRC
$93.7M
$10.6M 6.71%
1,362,502
+78,986
+6% +$643K
ATRO icon
6
Astronics
ATRO
$3.41B
$8.9M 5.65%
234,049
-73,037
-24% -$2.22M
ESCA icon
7
Escalade
ESCA
$265M
$6.92M 4.39%
550,192
+12,378
+2% +$159K
DLHC icon
8
DLH Holdings
DLHC
$78.3M
$6.31M 4.01%
1,116,802
+6,059
+0.5% +$34.2K
UTMD icon
9
Utah Medical Products
UTMD
$220M
$5.86M 3.72%
93,058
– –
UFI icon
10
UNIFI
UFI
$116M
$5.49M 3.48%
1,152,481
+67,272
+6% +$310K
NVGS icon
11
Navigator Holdings
NVGS
$1.32B
$4.67M 2.96%
301,212
– –
PBHC icon
12
Pathfinder Bancorp
PBHC
$100M
$4.11M 2.61%
262,204
– –
CAC icon
13
Camden National
CAC
$917M
$3.46M 2.2%
89,568
– –
KEQU icon
14
Kewaunee Scientific
KEQU
$104M
$3.42M 2.17%
80,274
+2,832
+4% +$152K
SSP icon
15
E.W. Scripps
SSP
$298M
$3.41M 2.17%
1,385,920
+126,078
+10% +$388K
SIF icon
16
SIFCO Industries
SIF
$152M
$3.29M 2.09%
466,901
– –
SGA icon
17
Saga Communications
SGA
$55.9M
$2.82M 1.79%
226,688
– –
CRD.B icon
18
Crawford & Co Class B
CRD.B
$502M
$2.82M 1.79%
288,334
+6,646
+2% +$67.6K
RAIL icon
19
FreightCar America
RAIL
$256M
$2.53M 1.61%
258,546
+39,541
+18% +$377K
THRY icon
20
Thryv Holdings
THRY
$166M
$2.44M 1.55%
202,329
– –
FSTR icon
21
Foster
FSTR
$451M
$2.26M 1.44%
83,965
– –
CTGO icon
22
Contango Silver & Gold Inc
CTGO
$520M
$1.9M 1.21%
76,147
– –
NODK icon
23
NI Holdings
NODK
$325M
$1.76M 1.12%
129,900
– –
MPB icon
24
Mid Penn Bancorp
MPB
$894M
$1.55M 0.99%
54,177
– –
UIS icon
25
Unisys
UIS
$256M
$1.35M 0.86%
345,347
– –
1
2 3

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Minerva Advisors's Q3 2025 Portfolio in Review

As of Q3 2025, Minerva Advisors held 56 positions worth $157M, up 3.2% from $153M the previous quarter. Its ten largest holdings account for 62% of the portfolio.

Trading was light in Q3 2025: portfolio turnover was 0%. Minerva Advisors opened no new positions and made no exits, leaving the 56-position portfolio largely intact.

By sector, the portfolio is most concentrated in Industrials at 42% of assets, down from 42% a quarter earlier, followed by Financials and Consumer Discretionary.

  • Minerva Advisors added most to Virco in Q3 2025, an estimated $643K increase.
  • Minerva Advisors's biggest Q3 2025 reduction was Astronics, cutting an estimated $2.22M.
  • Minerva Advisors's ten largest holdings make up 62% of its $157M portfolio in Q3 2025.
  • Minerva Advisors opened 0 new positions and closed 0 in Q3 2025.
  • Minerva Advisors's portfolio value rose 3.2% quarter-over-quarter to $157M.

Based on Minerva Advisors's 13F filing for Q3 2025, filed 12 Nov 2025.