Q1 2025 · 13F-HR/A
Minerva Advisors LLCholdings as filed
Filed 2025-05-09 · accession 0001462390-25-000012
$140.7M
Reported value
55
Positions
2025-03-31
Period end
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 276317104 | EML | EASTERN CO | $12.8M | 9.11% | 505,987 | Common | SOLE |
| 894650100 | TG | TREDEGAR CORP | $12.8M | 9.07% | 1,657,107 | Common | SOLE |
| 390607109 | GLDD | GREAT LAKES DREDGE & DOCK CO | $12.1M | 8.59% | 1,389,807 | Common | SOLE |
| 927651109 | VIRC | VIRCO MANUFACTURING CO | $11.5M | 8.14% | 1,210,455 | Common | SOLE |
| 046433108 | ATRO | ASTRONICS CORP | $11.2M | 7.96% | 463,105 | Common | SOLE |
| 296056104 | ESCA | ESCALADE INC | $8.2M | 5.85% | 537,814 | Common | SOLE |
| 45685K102 | INFU | INFUSYSTEM HLDGS INC | $4.9M | 3.48% | 910,677 | Common | SOLE |
| 917488108 | UTMD | UTAL MED PRODS INC | $4.9M | 3.46% | 86,902 | Common | SOLE |
| 904677200 | UFI | UNIFI INC | $4.4M | 3.10% | 907,774 | Common | SOLE |
| 70319R109 | PBHC | PATHFINDER BANCORP INC | $4.3M | 3.06% | 262,204 | Common | SOLE |
| 23335Q100 | DLHC | DLH HOLDINGS CORP | $4.1M | 2.93% | 1,018,397 | Common | SOLE |
| Y62132108 | NVGS | NAVIGATOR HOLDINGS LTD | $4.0M | 2.85% | 301,212 | Common | SOLE |
| 811054402 | SSP | SCRIPPS E W CO OHIO | $3.7M | 2.65% | 1,259,842 | Common | SOLE |
| 133034108 | CAC | CAMDEN NATIONAL CORP | $3.6M | 2.58% | 89,568 | Common | SOLE |
| 224633107 | CRD/B | CRAWFORD & CO CL B | $3.2M | 2.25% | 276,688 | Common | SOLE |
| 492854104 | KEQU | KEWAUNEE SCIENTIFIC CP | $2.9M | 2.06% | 73,765 | Common | SOLE |
| 786598300 | SGA | SAGA COMMUNICATIONS INC | $2.8M | 2.01% | 226,688 | Common | SOLE |
| 886029206 | THRY | THRYV HOLDINGS IINC | $2.6M | 1.84% | 202,329 | Common | SOLE |
| 65342T106 | NODK | NI HOLDINGS INC | $1.9M | 1.32% | 129,900 | Common | SOLE |
| 909214306 | UIS | UNISYS CORP | $1.6M | 1.13% | 345,347 | Common | SOLE |
| 92705T200 | — | VILLAGE BANK & TRUST FIN CO | $1.6M | 1.13% | 19,745 | Common | SOLE |
| 350060109 | FSTR | FOSTER L B CO | $1.6M | 1.12% | 79,798 | Common | SOLE |
| 59540G107 | MPB | MID PENN BANCORP | $1.3M | 0.95% | 51,732 | Common | SOLE |
| 826546103 | SIF | SIFCO INDUSTRIES INC | $1.3M | 0.92% | 466,751 | Common | SOLE |
| 357023100 | RAIL | FREIGHTCAR AMERICA INC | $1.2M | 0.86% | 219,005 | Common | SOLE |
| 258278100 | DORM | DORMAN PRODUCTS INC | $1.0M | 0.74% | 8,590 | Common | SHARED |
| 174610105 | CFG | CITIZENS FINL GROUP INC | $966,277 | 0.69% | 23,585 | Common | SOLE |
| 41165Y100 | 1S4 | HARBOR ONE BANCORP INC NEW | $916,853 | 0.65% | 88,414 | Common | SOLE |
| 257701201 | DGICA | DONEGAL GROUP INC | $912,598 | 0.65% | 46,490 | Common | SOLE |
| 172922106 | CZNC | CITIZENS & NORTHERN CORP | $863,148 | 0.61% | 42,900 | Common | SOLE |
| 302520101 | FNB | FNB CORP | $861,809 | 0.61% | 64,075 | Common | SOLE |
| 26828M106 | ECBK | ECB BANCORP INC | $756,591 | 0.54% | 49,940 | Common | SOLE |
| 15486W100 | CPBI | CENTRAL PLAINS BANCSHARES INC | $732,826 | 0.52% | 49,117 | Common | SOLE |
| 21077F100 | CTGO | CONTANGO ORE INC | $716,200 | 0.51% | 70,147 | Common | SOLE |
| 31931U102 | FRBA | FIRST BANK WILLIAMSTOWN NJ | $609,328 | 0.43% | 41,143 | Common | SOLE |
| 911922102 | USLM | US LIME & MINERAL | $552,375 | 0.39% | 6,250 | Common | SHARED |
| 440407104 | HBNC | HORIZON BANCORP INDIANA | $528,584 | 0.38% | 35,052 | Common | SOLE |
| 840441109 | SSBUSD | SOUTH STATE CORP | $525,454 | 0.37% | 5,661 | Common | SHARED |
| 197641103 | CLBK | COLUMBIA FINANCIAL | $506,910 | 0.36% | 33,794 | Common | SOLE |
| 510700107 | — | LAKE SHORE BANCORP INC | $475,864 | 0.34% | 30,118 | Common | SOLE |
| 667340103 | NWBI | NORTHWEST BANCSHARES INC | $456,760 | 0.32% | 38,000 | Common | SOLE |
| 174615104 | CZFS | CITIZENS FINL SVCS INC | $452,964 | 0.32% | 7,803 | Common | SOLE |
| 33621E109 | FSFG | FIRST SAVINGS FINANCIAL GP INC | $417,853 | 0.30% | 16,221 | Common | SOLE |
| 74267C106 | PRA | PROASSURANCE CORP | $402,414 | 0.29% | 17,234 | Common | SOLE |
| 320817109 | FRME | FIRST MERCHANTS CORP | $399,345 | 0.28% | 9,875 | Common | SOLE |
| 319829107 | FCF | FIRST COMMONWEALTH FINANCIAL | $397,202 | 0.28% | 25,560 | Common | SOLE |
| 871565107 | ACNT | ASCENT INDUSTRIES | $385,054 | 0.27% | 30,415 | Common | SOLE |
| 76525P100 | RMBI | RICHMOND MUTUAL | $384,000 | 0.27% | 30,000 | Common | SOLE |
| 203607106 | CBU | COMMUNITY BANK SYS INC | $376,299 | 0.27% | 6,618 | Common | SHARED |
| 26942G100 | EBMT | EAGLE BANCORP MONT INC | $353,431 | 0.25% | 21,098 | Common | SOLE |
| 69318V103 | PBBK | PB BANCSHARES INC | $338,212 | 0.24% | 20,560 | Common | SOLE |
| 669549107 | NWFL | NORWOOD FINANCIAL CORP | $330,670 | 0.24% | 13,681 | Common | SOLE |
| 257701300 | DGICB | DONEGAL GROUP INC | $295,517 | 0.21% | 17,856 | Common | SOLE |
| 248019101 | DLX | DELUXE CORP | $219,759 | 0.16% | 13,900 | Common | SHARED |
| 03074A102 | ASRV | AMERISERV FINANC INC | $141,426 | 0.10% | 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.