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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
GLDD
1
DELISTED
Great Lakes Dredge & Dock
GLDD
$18.2M 12.18%
1,389,807
– –
TG icon
2
Tredegar Corp
TG
$263M
$11.9M 7.95%
1,657,107
– –
EML icon
3
Eastern Company
EML
$154M
$10.4M 6.96%
529,084
-969
-0.2% -$19.8K
INFU icon
4
InfuSystem Holdings
INFU
$180M
$9.68M 6.46%
1,078,731
+52,942
+5% +$507K
VIRC icon
5
Virco
VIRC
$95.8M
$9.25M 6.18%
1,448,198
+85,696
+6% +$596K
ESCA icon
6
Escalade
ESCA
$266M
$7.66M 5.11%
567,621
+17,429
+3% +$217K
DLHC icon
7
DLH Holdings
DLHC
$77.2M
$6.29M 4.2%
1,113,057
-3,745
-0.3% -$21.8K
ATRO icon
8
Astronics
ATRO
$3.32B
$5.55M 3.7%
122,693
-111,356
-48% -$4.67M
SSP icon
9
E.W. Scripps
SSP
$297M
$5.53M 3.69%
1,385,920
– –
UTMD icon
10
Utah Medical Products
UTMD
$221M
$5.24M 3.5%
93,615
+557
+0.6% +$32.3K
NVGS icon
11
Navigator Holdings
NVGS
$1.3B
$5.22M 3.48%
301,212
– –
KEQU icon
12
Kewaunee Scientific
KEQU
$104M
$4.56M 3.05%
121,863
+41,589
+52% +$1.69M
UFI icon
13
UNIFI
UFI
$116M
$4.28M 2.86%
1,222,420
+69,939
+6% +$270K
CAC icon
14
Camden National
CAC
$917M
$3.89M 2.6%
89,568
– –
PBHC icon
15
Pathfinder Bancorp
PBHC
$100M
$3.7M 2.47%
262,204
– –
CRD.B icon
16
Crawford & Co Class B
CRD.B
$479M
$3.09M 2.06%
288,178
-156
-0.1% -$1.61K
RAIL icon
17
FreightCar America
RAIL
$245M
$2.96M 1.97%
267,046
+8,500
+3% +$78.1K
SIF icon
18
SIFCO Industries
SIF
$144M
$2.73M 1.82%
488,984
+22,083
+5% +$148K
FSTR icon
19
Foster
FSTR
$436M
$2.26M 1.51%
83,965
– –
CTGO icon
20
Contango Silver & Gold Inc
CTGO
$495M
$2.01M 1.34%
76,147
– –
NODK icon
21
NI Holdings
NODK
$325M
$1.73M 1.15%
129,900
– –
MPB icon
22
Mid Penn Bancorp
MPB
$893M
$1.68M 1.12%
54,177
– –
CFG icon
23
Citizens Financial Group
CFG
$30.2B
$1.25M 0.84%
21,485
– –
EBC icon
24
Eastern Bankshares
EBC
$4.93B
$1.15M 0.77%
+62,576
New +$1.15M
FNB icon
25
FNB Corp
FNB
$6.67B
$1.1M 0.73%
64,075
– –
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.