Q2 2025 · 13F-HR
Minerva Advisors LLCholdings as filed
Filed 2025-08-13 · accession 0001462390-25-000018
$152.6M
Reported value
56
Positions
2025-06-30
Period end
The Brief · Minerva Advisors LLC · Q2 2025
AI · grounded in 13F
Minerva Advisors LLC established a new position in Great Lakes Dredge & Dock Co GLDD valued at $16.9M. The fund also initiated new stakes in Tredegar Corp TG for $14.6M and Eastern Co EML for $12M. Additional new positions include Virco Manufacturing Co VIRC and Astronics Corp ATRO.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 390607109 | GLDD | GREAT LAKES DREDGE & DOCK CO | $16.9M | 11.1% | 1,389,807 | Common | SOLE |
| 894650100 | TG | TREDEGAR CORP | $14.6M | 9.56% | 1,657,107 | Common | SOLE |
| 276317104 | EML | EASTERN CO | $12.0M | 7.85% | 525,053 | Common | SOLE |
| 927651109 | VIRC | VIRCO MANUFACTURING CO | $10.2M | 6.71% | 1,283,516 | Common | SOLE |
| 046433108 | ATRO | ASTRONICS CORP | $8.6M | 5.61% | 255,905 | Common | SOLE |
| 296056104 | ESCA | ESCALADE INC | $7.5M | 4.91% | 537,814 | Common | SOLE |
| 23335Q100 | DLHC | DLH HOLDINGS CORP | $6.4M | 4.22% | 1,110,743 | Common | SOLE |
| 45685K102 | INFU | INFUSYSTEM HLDGS INC | $6.2M | 4.05% | 994,781 | Common | SOLE |
| 904677200 | UFI | UNIFI INC | $5.7M | 3.71% | 1,085,209 | Common | SOLE |
| 917488108 | UTMD | UTAL MED PRODS INC | $5.3M | 3.45% | 93,058 | Common | SOLE |
| 886029206 | THRY | THRYV HOLDINGS IINC | $4.7M | 3.07% | 202,329 | Common | SOLE |
| 492854104 | KEQU | KEWAUNEE SCIENTIFIC CP | $4.5M | 2.95% | 77,442 | Common | SOLE |
| Y62132108 | NVGS | NAVIGATOR HOLDINGS LTD | $4.3M | 2.82% | 301,212 | Common | SOLE |
| 70319R109 | PBHC | PATHFINDER BANCORP INC | $3.9M | 2.58% | 262,204 | Common | SOLE |
| 811054402 | SSP | SCRIPPS E W CO OHIO | $3.7M | 2.42% | 1,259,842 | Common | SOLE |
| 133034108 | CAC | CAMDEN NATIONAL CORP | $3.6M | 2.38% | 89,568 | Common | SOLE |
| 786598300 | SGA | SAGA COMMUNICATIONS INC | $2.9M | 1.89% | 226,688 | Common | SOLE |
| 224633107 | CRD/B | CRAWFORD & CO CL B | $2.8M | 1.85% | 281,688 | Common | SOLE |
| 357023100 | RAIL | FREIGHTCAR AMERICA INC | $1.9M | 1.24% | 219,005 | Common | SOLE |
| 350060109 | FSTR | FOSTER L B CO | $1.8M | 1.20% | 83,965 | Common | SOLE |
| 826546103 | SIF | SIFCO INDUSTRIES INC | $1.7M | 1.14% | 466,901 | Common | SOLE |
| 65342T106 | NODK | NI HOLDINGS INC | $1.7M | 1.08% | 129,900 | Common | SOLE |
| 909214306 | UIS | UNISYS CORP | $1.6M | 1.03% | 345,347 | Common | SOLE |
| 59540G107 | MPB | MID PENN BANCORP | $1.5M | 1.00% | 54,177 | Common | SOLE |
| 21077F100 | CTGO | CONTANGO ORE INC | $1.5M | 0.97% | 76,147 | Common | SOLE |
| 174610105 | CFG | CITIZENS FINL GROUP INC | $1.1M | 0.69% | 23,585 | Common | SOLE |
| 258278100 | DORM | DORMAN PRODUCTS INC | $1.1M | 0.69% | 8,590 | Common | SHARED |
| 41165Y100 | 1S4 | HARBOR ONE BANCORP INC NEW | $1.0M | 0.68% | 88,414 | Common | SOLE |
| 302520101 | FNB | FNB CORP | $934,213 | 0.61% | 64,075 | Common | SOLE |
| 257701201 | DGICA | DONEGAL GROUP INC | $930,265 | 0.61% | 46,490 | Common | SOLE |
| 172922106 | CZNC | CITIZENS & NORTHERN CORP | $812,526 | 0.53% | 42,900 | Common | SOLE |
| 26828M106 | ECBK | ECB BANCORP INC | $771,074 | 0.51% | 49,940 | Common | SOLE |
| 15486W100 | CPBI | CENTRAL PLAINS BANCSHARES INC | $740,684 | 0.49% | 49,117 | Common | SOLE |
| 31931U102 | FRBA | FIRST BANK WILLIAMSTOWN NJ | $635,248 | 0.42% | 41,143 | Common | SOLE |
| 911922102 | USLM | US LIME & MINERAL | $623,688 | 0.41% | 6,250 | Common | SHARED |
| 565759206 | MBBC | MARATHON BANCORP INC | $544,991 | 0.36% | 54,718 | Common | SOLE |
| 440407104 | HBNC | HORIZON BANCORP INDIANA | $538,048 | 0.35% | 35,052 | Common | SOLE |
| 840441109 | SSBUSD | SOUTH STATE CORP | $520,869 | 0.34% | 5,661 | Common | SHARED |
| 197641103 | CLBK | COLUMBIA FINANCIAL | $490,351 | 0.32% | 33,794 | Common | SOLE |
| 667340103 | NWBI | NORTHWEST BANCSHARES INC | $485,640 | 0.32% | 38,000 | Common | SOLE |
| 510700107 | — | LAKE SHORE BANCORP INC | $481,489 | 0.32% | 30,474 | Common | SOLE |
| 488152208 | KELYA | KELLY SERVICES INC | $467,600 | 0.31% | 40,000 | Common | SOLE |
| 174615104 | CZFS | CITIZENS FINL SVCS INC | $462,772 | 0.30% | 7,881 | Common | SOLE |
| 319829107 | FCF | FIRST COMMONWEALTH FINANCIAL | $415,094 | 0.27% | 25,560 | Common | SOLE |
| 76525P100 | RMBI | RICHMOND MUTUAL | $414,000 | 0.27% | 30,000 | Common | SOLE |
| 33621E109 | FSFG | FIRST SAVINGS FINANCIAL GP INC | $403,741 | 0.26% | 16,221 | Common | SOLE |
| 74267C106 | PRA | PROASSURANCE CORP | $393,452 | 0.26% | 17,234 | Common | SOLE |
| 871565107 | ACNT | ASCENT INDUSTRIES | $383,533 | 0.25% | 30,415 | Common | SOLE |
| 320817109 | FRME | FIRST MERCHANTS CORP | $378,213 | 0.25% | 9,875 | Common | SOLE |
| 203607106 | CBU | COMMUNITY BANK SYS INC | $366,505 | 0.24% | 6,618 | Common | SHARED |
| 69318V103 | PBBK | PB BANCSHARES INC | $359,800 | 0.24% | 20,560 | Common | SOLE |
| 669549107 | NWFL | NORWOOD FINANCIAL CORP | $352,697 | 0.23% | 13,681 | Common | SOLE |
| 26942G100 | EBMT | EAGLE BANCORP MONT INC | $351,071 | 0.23% | 21,098 | Common | SOLE |
| 257701300 | DGICB | DONEGAL GROUP INC | $313,016 | 0.21% | 17,856 | Common | SOLE |
| 248019101 | DLX | DELUXE CORP | $221,149 | 0.14% | 13,900 | Common | SHARED |
| 03074A102 | ASRV | AMERISERV FINANC INC | $174,600 | 0.11% | 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.