13F HOLDINGS REPORT
Minerva Advisors LLC
Quarter ended Q1 2025 · Filed May 8, 2025 · Accession 0001462390-25-000010
Total Value
$140.7M
Positions
101
Other Managers
0
Confidential Omitted
No
Holdings (101)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | ASTRONICS CORP | ATROB | 358,180 | $8.7M | 6.15% |
| 2 | EASTERN CO | EML | 333,567 | $8.4M | 6.00% |
| 3 | GREAT LAKES DREDGE & DOCK CO | GLDD | 958,262 | $8.3M | 5.93% |
| 4 | VIRCO MANUFACTURING CO | VIRC | 782,360 | $7.4M | 5.26% |
| 5 | TREDEGAR CORP | TG | 955,303 | $7.4M | 5.23% |
| 6 | ESCALADE INC | ESCA | 372,785 | $5.7M | 4.05% |
| 7 | TREDEGAR CORP | TG | 701,804 | $5.4M | 3.84% |
| 8 | EASTERN CO | EML | 172,420 | $4.4M | 3.10% |
| 9 | VIRCO MANUFACTURING CO | VIRC | 428,095 | $4.0M | 2.88% |
| 10 | GREAT LAKES DREDGE & DOCK CO | GLDD | 431,545 | $3.8M | 2.67% |
| 11 | ICC HOLDINGS INC | 44931Q104 | 680,207 | $3.7M | 2.60% |
| 12 | PATHFINDER BANCORP INC | PBHC | 210,842 | $3.5M | 2.46% |
| 13 | NAVIGATOR HOLDINGS LTD | NVGS | 229,765 | $3.1M | 2.17% |
| 14 | UTAL MED PRODS INC | 917488108 | 54,231 | $3.0M | 2.16% |
| 15 | ASTRONICS CORP | ATROB | 104,925 | $2.5M | 1.80% |
| 16 | ESCALADE INC | ESCA | 165,029 | $2.5M | 1.79% |
| 17 | DLH HOLDINGS CORP | DLHC | 618,747 | $2.5M | 1.78% |
| 18 | SCRIPPS E W CO OHIO | 811054402 | 804,195 | $2.4M | 1.69% |
| 19 | UNIFI INC | UFI | 484,955 | $2.3M | 1.66% |
| 20 | THRYV HOLDINGS IINC | THRY | 176,000 | $2.3M | 1.60% |
| 21 | CAMDEN NATIONAL CORP | 133034108 | 53,000 | $2.1M | 1.52% |
| 22 | KEWAUNEE SCIENTIFIC CP | 492854104 | 52,230 | $2.1M | 1.46% |
| 23 | UNIFI INC | UFI | 422,819 | $2.0M | 1.45% |
| 24 | CRAWFORD & CO CL B | CRD-B | 175,889 | $2.0M | 1.43% |
| 25 | SAGA COMMUNICATIONS INC | SGA | 153,479 | $1.9M | 1.36% |
| 26 | UTAL MED PRODS INC | 917488108 | 32,671 | $1.8M | 1.30% |
| 27 | DLH HOLDINGS CORP | DLHC | 399,650 | $1.6M | 1.15% |
| 28 | CAMDEN NATIONAL CORP | 133034108 | 36,568 | $1.5M | 1.05% |
| 29 | VILLAGE BANK & TRUST FIN CO | 92705T200 | 17,947 | $1.4M | 1.02% |
| 30 | NI HOLDINGS INC | NODK | 100,400 | $1.4M | 1.02% |
| 31 | SCRIPPS E W CO OHIO | 811054402 | 455,647 | $1.3M | 0.96% |
| 32 | ICC HOLDINGS INC | 44931Q104 | 230,470 | $1.2M | 0.88% |
| 33 | CRAWFORD & CO CL B | CRD-B | 100,799 | $1.2M | 0.82% |
| 34 | DORMAN PRODUCTS INC | 258278100 | 8,590 | $1.0M | 0.74% |
| 35 | MID PENN BANCORP | MPB | 39,229 | $1.0M | 0.72% |
| 36 | SIFCO INDUSTRIES INC | 826546103 | 358,916 | $990,608 | 0.70% |
| 37 | NAVIGATOR HOLDINGS LTD | NVGS | 71,447 | $950,960 | 0.68% |
| 38 | SAGA COMMUNICATIONS INC | SGA | 73,209 | $912,916 | 0.65% |
| 39 | UNISYS CORP | UIS | 192,147 | $881,955 | 0.63% |
| 40 | FREIGHTCAR AMERICA INC | RAIL | 156,126 | $863,377 | 0.61% |
| 41 | KEWAUNEE SCIENTIFIC CP | 492854104 | 21,535 | $848,048 | 0.60% |
| 42 | PATHFINDER BANCORP INC | PBHC | 51,362 | $844,391 | 0.60% |
| 43 | FOSTER L B CO | FSTR | 42,374 | $833,920 | 0.59% |
| 44 | FOSTER L B CO | FSTR | 37,424 | $736,504 | 0.52% |
| 45 | FNB CORP | 302520101 | 52,385 | $704,578 | 0.50% |
| 46 | UNISYS CORP | UIS | 153,200 | $703,188 | 0.50% |
| 47 | CITIZENS FINL GROUP INC | CIA | 16,929 | $693,581 | 0.49% |
| 48 | CONTANGO ORE INC | 21077F100 | 58,688 | $599,204 | 0.43% |
| 49 | HARBOR ONE BANCORP INC NEW | 41165Y100 | 53,500 | $554,795 | 0.39% |
| 50 | US LIME & MINERAL | UNTCW | 6,250 | $552,375 | 0.39% |
| 51 | FIRST BANK WILLIAMSTOWN NJ | 31931U102 | 37,118 | $549,718 | 0.39% |
| 52 | CITIZENS & NORTHERN CORP | CIA | 26,500 | $533,180 | 0.38% |
| 53 | SOUTH STATE CORP | SSB | 5,661 | $525,454 | 0.37% |
| 54 | COLUMBIA FINANCIAL | 197641103 | 33,794 | $506,910 | 0.36% |
| 55 | DONEGAL GROUP INC | DGICB | 23,615 | $463,562 | 0.33% |
| 56 | NORTHWEST BANCSHARES INC | NWBI | 38,000 | $456,760 | 0.32% |
| 57 | CITIZENS FINL SVCS INC | CIA | 7,803 | $452,964 | 0.32% |
| 58 | DONEGAL GROUP INC | DGICB | 22,875 | $449,036 | 0.32% |
| 59 | CENTRAL PLAINS BANCSHARES INC | CPBI | 29,100 | $434,172 | 0.31% |
| 60 | HORIZON BANCORP INDIANA | HBNC | 28,000 | $422,240 | 0.30% |
| 61 | NI HOLDINGS INC | NODK | 29,500 | $420,670 | 0.30% |
| 62 | ECB BANCORP INC | ECBK | 25,533 | $386,825 | 0.27% |
| 63 | RICHMOND MUTUAL | 76525P100 | 30,000 | $384,000 | 0.27% |
| 64 | COMMUNITY BANK SYS INC | CBU | 6,618 | $376,299 | 0.27% |
| 65 | ECB BANCORP INC | ECBK | 24,407 | $369,766 | 0.26% |
| 66 | HARBOR ONE BANCORP INC NEW | 41165Y100 | 34,914 | $362,058 | 0.26% |
| 67 | LAKE SHORE BANCORP INC | LSBK | 22,248 | $351,518 | 0.25% |
| 68 | FREIGHTCAR AMERICA INC | RAIL | 62,879 | $347,721 | 0.25% |
| 69 | THRYV HOLDINGS IINC | THRY | 26,329 | $337,274 | 0.24% |
| 70 | CITIZENS & NORTHERN CORP | CIA | 16,400 | $329,968 | 0.23% |
| 71 | MID PENN BANCORP | MPB | 12,503 | $323,953 | 0.23% |
| 72 | FIRST COMMONWEALTH FINANCIAL | 319829107 | 20,000 | $310,800 | 0.22% |
| 73 | CENTRAL PLAINS BANCSHARES INC | CPBI | 20,017 | $298,654 | 0.21% |
| 74 | SIFCO INDUSTRIES INC | 826546103 | 107,835 | $297,625 | 0.21% |
| 75 | ASCENT INDUSTRIES | ACNT | 23,422 | $296,523 | 0.21% |
| 76 | EAGLE BANCORP MONT INC | 26942G100 | 17,198 | $288,067 | 0.20% |
| 77 | CITIZENS FINL GROUP INC | CIA | 6,656 | $272,696 | 0.19% |
| 78 | FIRST SAVINGS FINANCIAL GP INC | 33621E109 | 10,521 | $271,021 | 0.19% |
| 79 | DONEGAL GROUP INC | DGICB | 13,356 | $221,042 | 0.16% |
| 80 | DELUXE CORP | DLX | 13,900 | $219,759 | 0.16% |
| 81 | NORWOOD FINANCIAL CORP | NWFL | 8,952 | $216,370 | 0.15% |
| 82 | PROASSURANCE CORP | PRA | 8,700 | $203,145 | 0.14% |
| 83 | FIRST MERCHANTS CORP | FRMEP | 5,000 | $202,200 | 0.14% |
| 84 | PROASSURANCE CORP | PRA | 8,534 | $199,269 | 0.14% |
| 85 | FIRST MERCHANTS CORP | FRMEP | 4,875 | $197,145 | 0.14% |
| 86 | PB BANCSHARES INC | 69318V103 | 10,920 | $179,634 | 0.13% |
| 87 | PB BANCSHARES INC | 69318V103 | 9,640 | $158,578 | 0.11% |
| 88 | FNB CORP | 302520101 | 11,690 | $157,231 | 0.11% |
| 89 | FIRST SAVINGS FINANCIAL GP INC | 33621E109 | 5,700 | $146,832 | 0.10% |
| 90 | VILLAGE BANK & TRUST FIN CO | 92705T200 | 1,798 | $144,218 | 0.10% |
| 91 | LAKE SHORE BANCORP INC | LSBK | 7,870 | $124,346 | 0.09% |
| 92 | CONTANGO ORE INC | 21077F100 | 11,459 | $116,996 | 0.08% |
| 93 | NORWOOD FINANCIAL CORP | NWFL | 4,729 | $114,300 | 0.08% |
| 94 | HORIZON BANCORP INDIANA | HBNC | 7,052 | $106,344 | 0.08% |
| 95 | AMERISERV FINANC INC | 03074A102 | 41,200 | $100,116 | 0.07% |
| 96 | ASCENT INDUSTRIES | ACNT | 6,993 | $88,531 | 0.06% |
| 97 | FIRST COMMONWEALTH FINANCIAL | 319829107 | 5,560 | $86,402 | 0.06% |
| 98 | DONEGAL GROUP INC | DGICB | 4,500 | $74,475 | 0.05% |
| 99 | EAGLE BANCORP MONT INC | 26942G100 | 3,900 | $65,364 | 0.05% |
| 100 | FIRST BANK WILLIAMSTOWN NJ | 31931U102 | 4,025 | $59,610 | 0.04% |
| 101 | AMERISERV FINANC INC | 03074A102 | 17,000 | $41,310 | 0.03% |