13F HOLDINGS REPORT
Minerva Advisors LLC
Quarter ended Q4 2024 · Filed February 4, 2025 · Accession 0001462390-25-000003
Total Value
$171.0M
Positions
105
Other Managers
0
Confidential Omitted
No
Holdings (105)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | UNIVERSAL STAINLESS & ALLOY | 913837100 | 290,258 | $12.8M | 7.48% |
| 2 | GREAT LAKES DREDGE & DOCK CO | GLDD | 958,262 | $10.8M | 6.32% |
| 3 | EASTERN CO | EML | 333,567 | $8.9M | 5.18% |
| 4 | VIRCO MANUFACTURING CO | VIRC | 780,860 | $8.0M | 4.66% |
| 5 | TREDEGAR CORP | TG | 955,303 | $7.3M | 4.29% |
| 6 | ASTRONICS CORP | ATROB | 358,180 | $5.7M | 3.34% |
| 7 | INFUSYSTEM HLDGS INC | INFU | 662,967 | $5.6M | 3.25% |
| 8 | TREDEGAR CORP | TG | 701,804 | $5.4M | 3.15% |
| 9 | ESCALADE INC | ESCA | 372,785 | $5.3M | 3.11% |
| 10 | KEWAUNEE SCIENTIFIC CP | 492854104 | 78,198 | $4.8M | 2.79% |
| 11 | UNIVERSAL STAINLESS & ALLOY | 913837100 | 101,229 | $4.5M | 2.61% |
| 12 | EASTERN CO | EML | 167,411 | $4.4M | 2.60% |
| 13 | DLH HOLDINGS CORP | DLHC | 544,343 | $4.4M | 2.56% |
| 14 | GREAT LAKES DREDGE & DOCK CO | GLDD | 383,545 | $4.3M | 2.53% |
| 15 | VIRCO MANUFACTURING CO | VIRC | 381,729 | $3.9M | 2.28% |
| 16 | NAVIGATOR HOLDINGS LTD | NVGS | 233,565 | $3.6M | 2.10% |
| 17 | PATHFINDER BANCORP INC | PBHC | 210,842 | $3.6M | 2.10% |
| 18 | THRYV HOLDINGS IINC | THRY | 197,500 | $2.9M | 1.71% |
| 19 | UNIFI INC | UFI | 452,751 | $2.8M | 1.66% |
| 20 | UTAL MED PRODS INC | 917488108 | 45,718 | $2.8M | 1.64% |
| 21 | UNIFI INC | UFI | 402,490 | $2.5M | 1.47% |
| 22 | DLH HOLDINGS CORP | DLHC | 303,249 | $2.4M | 1.42% |
| 23 | ESCALADE INC | ESCA | 165,029 | $2.4M | 1.38% |
| 24 | CAMDEN NATIONAL CORP | 133034108 | 53,000 | $2.3M | 1.32% |
| 25 | UTAL MED PRODS INC | 917488108 | 32,671 | $2.0M | 1.17% |
| 26 | CRAWFORD & CO CL B | CRD-B | 175,889 | $2.0M | 1.15% |
| 27 | KEWAUNEE SCIENTIFIC CP | 492854104 | 31,295 | $1.9M | 1.11% |
| 28 | SAGA COMMUNICATIONS INC | SGA | 153,479 | $1.7M | 0.99% |
| 29 | ASTRONICS CORP | ATROB | 104,925 | $1.7M | 0.98% |
| 30 | SCRIPPS E W CO OHIO | 811054402 | 712,195 | $1.6M | 0.92% |
| 31 | NI HOLDINGS INC | NODK | 100,400 | $1.6M | 0.92% |
| 32 | CAMDEN NATIONAL CORP | 133034108 | 36,568 | $1.6M | 0.91% |
| 33 | INFUSYSTEM HLDGS INC | INFU | 183,884 | $1.5M | 0.90% |
| 34 | VILLAGE BANK & TRUST FIN CO | 92705T200 | 17,947 | $1.4M | 0.82% |
| 35 | FREIGHTCAR AMERICA INC | RAIL | 156,126 | $1.4M | 0.82% |
| 36 | SIFCO INDUSTRIES INC | 826546103 | 358,916 | $1.3M | 0.79% |
| 37 | UNISYS CORP | UIS | 192,147 | $1.2M | 0.71% |
| 38 | FOSTER L B CO | FSTR | 42,374 | $1.1M | 0.67% |
| 39 | MID PENN BANCORP | MPB | 39,229 | $1.1M | 0.66% |
| 40 | CRAWFORD & CO CL B | CRD-B | 100,799 | $1.1M | 0.66% |
| 41 | NAVIGATOR HOLDINGS LTD | NVGS | 72,647 | $1.1M | 0.65% |
| 42 | DORMAN PRODUCTS INC | 258278100 | 8,590 | $1.1M | 0.65% |
| 43 | SCRIPPS E W CO OHIO | 811054402 | 455,647 | $1.0M | 0.59% |
| 44 | FOSTER L B CO | FSTR | 37,424 | $1.0M | 0.59% |
| 45 | UNISYS CORP | UIS | 153,200 | $969,756 | 0.57% |
| 46 | PATHFINDER BANCORP INC | PBHC | 51,362 | $873,154 | 0.51% |
| 47 | US LIME & MINERAL | UNTCW | 6,250 | $829,625 | 0.49% |
| 48 | SAGA COMMUNICATIONS INC | SGA | 73,209 | $806,763 | 0.47% |
| 49 | FNB CORP | 302520101 | 52,385 | $774,250 | 0.45% |
| 50 | CITIZENS FINL GROUP INC | CIA | 16,929 | $740,982 | 0.43% |
| 51 | HARBOR ONE BANCORP INC NEW | 41165Y100 | 53,500 | $631,835 | 0.37% |
| 52 | CONTANGO ORE INC | 21077F100 | 58,688 | $588,054 | 0.34% |
| 53 | ICC HOLDINGS INC | 44931Q104 | 24,953 | $580,407 | 0.34% |
| 54 | SOUTH STATE CORP | SSB | 5,661 | $563,383 | 0.33% |
| 55 | FREIGHTCAR AMERICA INC | RAIL | 62,879 | $561,509 | 0.33% |
| 56 | COLUMBIA FINANCIAL | 197641103 | 33,794 | $534,283 | 0.31% |
| 57 | FIRST BANK WILLIAMSTOWN NJ | 31931U102 | 37,118 | $522,250 | 0.31% |
| 58 | NORTHWEST BANCSHARES INC | NWBI | 38,000 | $501,220 | 0.29% |
| 59 | CITIZENS FINL SVCS INC | CIA | 7,803 | $494,008 | 0.29% |
| 60 | CITIZENS & NORTHERN CORP | CIA | 26,500 | $491,045 | 0.29% |
| 61 | NI HOLDINGS INC | NODK | 29,500 | $463,150 | 0.27% |
| 62 | HORIZON BANCORP INDIANA | HBNC | 28,000 | $451,080 | 0.26% |
| 63 | CENTRAL PLAINS BANCSHARES INC | CPBI | 29,100 | $432,717 | 0.25% |
| 64 | RICHMOND MUTUAL | 76525P100 | 30,000 | $424,500 | 0.25% |
| 65 | HARBOR ONE BANCORP INC NEW | 41165Y100 | 34,914 | $412,334 | 0.24% |
| 66 | COMMUNITY BANK SYS INC | CBU | 6,618 | $408,132 | 0.24% |
| 67 | SIFCO INDUSTRIES INC | 826546103 | 107,835 | $405,136 | 0.24% |
| 68 | THRYV HOLDINGS IINC | THRY | 26,329 | $389,669 | 0.23% |
| 69 | DONEGAL GROUP INC | DGICB | 23,615 | $364,616 | 0.21% |
| 70 | MID PENN BANCORP | MPB | 12,503 | $360,587 | 0.21% |
| 71 | DONEGAL GROUP INC | DGICB | 22,875 | $353,190 | 0.21% |
| 72 | FIRST COMMONWEALTH FINANCIAL | 319829107 | 20,000 | $338,000 | 0.20% |
| 73 | DELUXE CORP | DLX | 13,900 | $314,001 | 0.18% |
| 74 | ECB BANCORP INC | ECBK | 21,033 | $311,499 | 0.18% |
| 75 | LAKE SHORE BANCORP INC | LSBK | 22,248 | $304,798 | 0.18% |
| 76 | CITIZENS & NORTHERN CORP | CIA | 16,400 | $303,892 | 0.18% |
| 77 | CENTRAL PLAINS BANCSHARES INC | CPBI | 20,017 | $297,653 | 0.17% |
| 78 | CITIZENS FINL GROUP INC | CIA | 6,656 | $291,333 | 0.17% |
| 79 | FIRST SAVINGS FINANCIAL GP INC | 33621E109 | 10,521 | $279,438 | 0.16% |
| 80 | EAGLE BANCORP MONT INC | 26942G100 | 17,198 | $263,129 | 0.15% |
| 81 | ASCENT INDUSTRIES | ACNT | 23,422 | $261,858 | 0.15% |
| 82 | NORWOOD FINANCIAL CORP | NWFL | 8,952 | $242,152 | 0.14% |
| 83 | ECB BANCORP INC | ECBK | 15,407 | $228,178 | 0.13% |
| 84 | FIRST MERCHANTS CORP | FRMEP | 5,000 | $199,250 | 0.12% |
| 85 | ICC HOLDINGS INC | 44931Q104 | 8,414 | $195,710 | 0.11% |
| 86 | FIRST MERCHANTS CORP | FRMEP | 4,875 | $194,269 | 0.11% |
| 87 | DONEGAL GROUP INC | DGICB | 13,356 | $188,320 | 0.11% |
| 88 | FNB CORP | 302520101 | 11,690 | $172,778 | 0.10% |
| 89 | PB BANCSHARES INC | 69318V103 | 10,920 | $165,984 | 0.10% |
| 90 | FIRST SAVINGS FINANCIAL GP INC | 33621E109 | 5,700 | $151,392 | 0.09% |
| 91 | PB BANCSHARES INC | 69318V103 | 9,640 | $146,528 | 0.09% |
| 92 | VILLAGE BANK & TRUST FIN CO | 92705T200 | 1,798 | $139,705 | 0.08% |
| 93 | PROASSURANCE CORP | PRA | 8,700 | $138,417 | 0.08% |
| 94 | PROASSURANCE CORP | PRA | 8,534 | $135,776 | 0.08% |
| 95 | NORWOOD FINANCIAL CORP | NWFL | 4,729 | $127,919 | 0.07% |
| 96 | CONTANGO ORE INC | 21077F100 | 11,459 | $114,819 | 0.07% |
| 97 | HORIZON BANCORP INDIANA | HBNC | 7,052 | $113,608 | 0.07% |
| 98 | LAKE SHORE BANCORP INC | LSBK | 7,870 | $107,819 | 0.06% |
| 99 | AMERISERV FINANC INC | 03074A102 | 41,200 | $107,532 | 0.06% |
| 100 | FIRST COMMONWEALTH FINANCIAL | 319829107 | 5,560 | $93,964 | 0.05% |
| 101 | ASCENT INDUSTRIES | ACNT | 6,993 | $78,182 | 0.05% |
| 102 | DONEGAL GROUP INC | DGICB | 4,500 | $63,450 | 0.04% |
| 103 | EAGLE BANCORP MONT INC | 26942G100 | 3,900 | $59,670 | 0.03% |
| 104 | FIRST BANK WILLIAMSTOWN NJ | 31931U102 | 4,025 | $56,632 | 0.03% |
| 105 | AMERISERV FINANC INC | 03074A102 | 17,000 | $44,370 | 0.03% |