Q1 2026 · 13F-HR
Minerva Advisors LLCholdings as filed
Filed 2026-05-12 · accession 0001420506-26-000931
$154.9M
Reported value
48
Positions
2026-03-31
Period end
The Brief · Minerva Advisors LLC · Q1 2026
AI · grounded in 13F
Minerva Advisors LLC closed its position in DORM, reducing its holdings by $1,058,202. The fund also exited positions in USLM and SSB, with losses of $748,375 and $532,757 respectively. On the buy side, the fund increased its stake in KELYA by 242.12% and FRME by 139.62%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 390607109 | GLDD | GREAT LAKES DREDGE & DOCK CO | $17.5M | 11.3% | 1,029,703 | Common | SOLE |
| 894650100 | TG | TREDEGAR CORP | $13.2M | 8.55% | 1,665,607 | Common | SOLE |
| 45685K102 | INFU | INFUSYSTEM HLDGS INC | $11.1M | 7.17% | 1,204,105 | Common | SOLE |
| 276317104 | EML | EASTERN CO | $11.1M | 7.14% | 546,402 | Common | SOLE |
| 296056104 | ESCA | ESCALADE INC | $9.7M | 6.29% | 567,621 | Common | SOLE |
| 927651109 | VIRC | VIRCO MANUFACTURING CO | $9.3M | 5.99% | 1,517,452 | Common | SOLE |
| 23335Q100 | DLHC | DLH HOLDINGS CORP | $6.5M | 4.18% | 1,113,037 | Common | SOLE |
| 826546103 | SIF | SIFCO INDUSTRIES INC | $6.4M | 4.13% | 480,650 | Common | SOLE |
| 917488108 | UTMD | UTAH MEDICAL PRODUCTS INC | $5.8M | 3.75% | 93,615 | Common | SOLE |
| Y62132108 | NVGS | NAVIGATOR HOLDINGS LTD | $5.7M | 3.70% | 296,212 | Common | SOLE |
| 811054402 | SSP | SCRIPPS E W CO OHIO | $5.7M | 3.67% | 1,526,490 | Common | SOLE |
| 046433108 | ATRO | ASTRONICS CORP | $4.7M | 3.03% | 70,340 | Common | SOLE |
| 492854104 | KEQU | KEWAUNEE SCIENTIFIC CP | $4.7M | 3.02% | 136,705 | Common | SOLE |
| 904677200 | UFI | UNIFI INC | $4.5M | 2.90% | 1,258,626 | Common | SOLE |
| 133034108 | CAC | CAMDEN NATIONAL CORP | $4.3M | 2.74% | 89,568 | Common | SOLE |
| 70319R109 | PBHC | PATHFINDER BANCORP INC | $3.3M | 2.16% | 262,204 | Common | SOLE |
| 224633107 | CRD/B | CRAWFORD & CO CL B | $2.9M | 1.89% | 288,178 | Common | SOLE |
| 357023100 | RAIL | FREIGHTCAR AMERICA INC | $2.7M | 1.75% | 341,023 | Common | SOLE |
| 350060109 | FSTR | FOSTER L B CO | $2.3M | 1.51% | 83,965 | Common | SOLE |
| 488152208 | KELYA | KELLY SERVICES INC | $1.8M | 1.14% | 199,796 | Common | SOLE |
| 59540G107 | MPB | MID PENN BANCORP | $1.7M | 1.12% | 54,177 | Common | SOLE |
| 65342T106 | NODK | NI HOLDINGS INC | $1.7M | 1.08% | 129,900 | Common | SOLE |
| 174610105 | CFG | CITIZENS FINL GROUP INC | $1.3M | 0.83% | 21,485 | Common | SOLE |
| 27627N105 | EBC | EASTERN BANKSHARES INC | $1.2M | 0.79% | 62,576 | Common | SOLE |
| 21077F100 | CTGO | CONTANGO ORE INC | $1.1M | 0.72% | 59,647 | Common | SOLE |
| 302520101 | FNB | FNB CORP | $1.1M | 0.69% | 64,075 | Common | SOLE |
| 172922106 | CZNC | CITIZENS & NORTHERN CORP | $958,386 | 0.62% | 42,900 | Common | SOLE |
| 320817109 | FRME | FIRST MERCHANTS CORP | $916,430 | 0.59% | 23,662 | Common | SOLE |
| 669549107 | NWFL | NORWOOD FINANCIAL CORP | $840,824 | 0.54% | 28,580 | Common | SOLE |
| 15486W100 | CPBI | CENTRAL PLAINS BANCSHARES INC | $840,392 | 0.54% | 49,117 | Common | SOLE |
| 26828M106 | ECBK | ECB BANCORP INC | $835,496 | 0.54% | 49,940 | Common | SOLE |
| 302491303 | FMC | FMC CORP | $826,560 | 0.53% | 48,000 | Common | SOLE |
| 257701201 | DGICA | DONEGAL GROUP INC | $798,699 | 0.52% | 46,490 | Common | SOLE |
| 565759206 | MBBC | MARATHON BANCORP INC | $797,946 | 0.52% | 58,976 | Common | SOLE |
| 909214306 | UIS | UNISYS CORP | $714,868 | 0.46% | 345,347 | Common | SOLE |
| 510704109 | LSBK | LAKE SHORE BANCORP INC | $671,852 | 0.43% | 44,259 | Common | SOLE |
| 31931U102 | FRBA | FIRST BANK WILLIAMSTOWN NJ | $658,288 | 0.42% | 41,143 | Common | SOLE |
| 197641103 | CLBK | COLUMBIA FINANCIAL | $591,733 | 0.38% | 33,794 | Common | SOLE |
| 440407104 | HBNC | HORIZON BANCORP INDIANA | $580,816 | 0.37% | 35,052 | Common | SOLE |
| 667340103 | NWBI | NORTHWEST BANCSHARES INC | $482,220 | 0.31% | 38,000 | Common | SOLE |
| 319829107 | FCF | FIRST COMMONWEALTH FINANCIAL | $449,345 | 0.29% | 25,560 | Common | SOLE |
| 26942G100 | EBMT | EAGLE BANCORP MONT INC | $434,197 | 0.28% | 21,098 | Common | SOLE |
| 74267C106 | PRA | PROASSURANCE CORP | $426,024 | 0.28% | 17,234 | Common | SOLE |
| 76525P100 | RMBI | RICHMOND MUTUAL | $410,140 | 0.26% | 30,224 | Common | SOLE |
| 886029206 | THRY | THRYV HOLDINGS IINC | $395,461 | 0.26% | 144,329 | Common | SOLE |
| 248019101 | DLX | DELUXE CORP | $382,806 | 0.25% | 13,900 | Common | SHARED |
| 257701300 | DGICB | DONEGAL GROUP INC | $315,873 | 0.20% | 17,856 | Common | SOLE |
| 03074A102 | ASRV | AMERISERV FINANC INC | $210,684 | 0.14% | 58,200 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.