Minerva Advisors LLC

Est. AUM

$102.3M

13F long equity, this entity only

Positions

Period

Mar 2026 (Q1)

SEC EDGAR

View filings ↗

Mar 2026 (Q1)

#	Issuer	Class	Value	Shares	% Portfolio	Discretion
1	GREAT LAKES DREDGE & DOCK CO	COM	$13.5M	795739	13.23%	SOLE
2	INFUSYSTEM HLDGS INC	COM	$7.7M	836770	7.55%	SOLE
3	TREDEGAR CORP	COM	$7.6M	960303	7.46%	SOLE
4	EASTERN CO	COM	$7.1M	348705	6.90%	SOLE
5	ESCALADE INC	COM	$6.7M	392027	6.58%	SOLE
6	VIRCO MANUFACTURING CO	COM	$5.8M	955057	5.71%	SOLE
7	SIFCO INDUSTRIES INC	COM	$4.9M	365915	4.76%	SOLE
8	NAVIGATOR HOLDINGS LTD	SHS	$4.4M	225965	4.27%	SOLE
9	DLH HOLDINGS CORP	COM	$3.9M	675434	3.84%	SOLE
10	UTAH MEDICAL PRODUCTS INC	COM	$3.8M	60944	3.69%	SOLE
11	SCRIPPS E W CO OHIO	CL A NEW	$3.6M	971052	3.53%	SOLE
12	KEWAUNEE SCIENTIFIC CP	COM	$3.3M	94852	3.18%	SOLE
13	PATHFINDER BANCORP INC	COM	$2.7M	210842	2.63%	SOLE
14	UNIFI INC	COM NEW	$2.6M	729125	2.54%	SOLE
15	CAMDEN NATIONAL CORP	COM	$2.5M	53000	2.46%	SOLE
16	CRAWFORD & CO CL B	CL B	$1.9M	187076	1.85%	SOLE
17	FREIGHTCAR AMERICA INC	COM	$1.8M	231638	1.80%	SOLE
18	ASTRONICS CORP	COM	$1.5M	22453	1.46%	SOLE
19	MID PENN BANCORP	COM	$1.3M	40993	1.29%	SOLE
20	NI HOLDINGS INC	COM	$1.3M	100400	1.27%	SOLE
21	FOSTER L B CO	COM	$1.3M	45889	1.25%	SOLE
22	CITIZENS FINL GROUP INC	COM	$1.0M	16929	0.99%	SOLE
23	KELLY SERVICES INC	CL A	$993K	112148	0.97%	SOLE
24	CONTANGO ORE INC	COM	$890K	47488	0.87%	SOLE
25	FNB CORP	COM	$876K	52385	0.86%	SOLE
26	EASTERN BANKSHARES INC	COM	$741K	37864	0.72%	OTR
27	FIRST BANK WILLIAMSTOWN NJ	COM	$594K	37118	0.58%	SOLE
28	COLUMBIA FINANCIAL	COM	$592K	33794	0.58%	SOLE
29	CITIZENS & NORTHERN CORP	COM	$592K	26500	0.58%	SOLE
30	FIRST MERCHANTS CORP	COM	$540K	13942	0.53%	SOLE
31	NORWOOD FINANCIAL CORP	COM	$496K	16866	0.48%	SOLE
32	NORTHWEST BANCSHARES INC	COM	$482K	38000	0.47%	SOLE
33	HORIZON BANCORP INDIANA	COM	$464K	28000	0.45%	SOLE
34	LAKE SHORE BANCORP INC	COM	$458K	30170	0.45%	SOLE
35	ECB BANCORP INC	COM	$427K	25533	0.42%	SOLE
36	RICHMOND MUTUAL	COM	$410K	30224	0.40%	SOLE
37	DONEGAL GROUP INC	CL A	$406K	23615	0.40%	SOLE
38	DELUXE CORP	COM	$383K	13900	0.37%	OTR
39	EAGLE BANCORP MONT INC	COM	$354K	17198	0.35%	SOLE
40	FIRST COMMONWEALTH FINANCIAL	COM	$352K	20000	0.34%	SOLE
41	CENTRAL PLAINS BANCSHARES INC	COM	$342K	20017	0.33%	SOLE
42	THRYV HOLDINGS IINC	COM NEW	$323K	118000	0.32%	SOLE
43	UNISYS CORP	COM NEW	$317K	153200	0.31%	SOLE
44	FMC CORP	COM	$310K	18000	0.30%	OTR
45	DONEGAL GROUP INC	CL B	$236K	13356	0.23%	SOLE
46	PROASSURANCE CORP	COM	$215K	8700	0.21%	SOLE
47	AMERISERV FINANC INC	COM	$149K	41200	0.15%	SOLE
48	MARATHON BANCORP INC	COM NEW	$58K	4258	0.06%	OTR

Values in USD (reported in $thousands on 13F). Source: SEC EDGAR.