Filed: 2/9/2026ACC: 0001420506-26-000218
📋 What this filing means
MINERVA ADVISORS LLC filed this quarterly 13F‑HR report disclosing 57 equity positions with a total reported market value of $149.72M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
57
Positions
$149.72M
Total AUM (reported)
14.28M
Total Shares
Allocation by class
COM$126.25M84.3%
COM NEW$7.51M5.0%
CL A NEW$5.89M3.9%
SHS$5.22M3.5%
CL B$3.41M2.3%
CL A$1.44M1.0%
Portfolio Concentration
Top 3$40.55M27.1%
4–10$49.19M32.9%
11–25$41.60M27.8%
Rest$18.38M12.3%
Top 3 weight
27.1%
Top 10 weight
59.9%
Voting Authority Distribution
Total shares with voting rights: 14.28M
Sole
Full voting authority
9.24M
shares
% of voting shares64.7%
Shared
Joint voting authority
5.04M
shares
% of voting shares35.3%
None
No voting authority
0.00
shares
% of voting shares0.0%
Investment Discretion (by position count)
Sole8
Shared0
Other49
Dominant voting typeSole · 64.7% of voting shares
Institutional Holdings57
Rows:
GREAT LAKES DREDGE & DOCK CO
OTRShares1.39M
TypeSH
Market value$18.23M
12.18%
Sole
958.26K
Shared
431.55K
None
0.00
TREDEGAR CORP
OTRShares1.66M
TypeSH
Market value$11.90M
7.95%
Sole
955.30K
Shared
701.80K
None
0.00
EASTERN CO
OTRShares529.08K
TypeSH
Market value$10.42M
6.96%
Sole
337.42K
Shared
191.66K
None
0.00
INFUSYSTEM HLDGS INC
OTRShares1.08M
TypeSH
Market value$9.68M
6.46%
Sole
764.52K
Shared
314.21K
None
0.00
VIRCO MFG CO
OTRShares1.45M
TypeSH
Market value$9.25M
6.18%
Sole
915.93K
Shared
532.26K
None
0.00
ESCALADE INC
OTRShares567.62K
TypeSH
Market value$7.66M
5.11%
Sole
392.03K
Shared
175.59K
None
0.00
DLH HLDGS CORP
OTRShares1.11M
TypeSH
Market value$6.29M
4.20%
Sole
675.43K
Shared
437.62K
None
0.00
ASTRONICS CORP
OTRShares102.24K
TypeSH
Market value$5.55M
3.70%
Sole
69.85K
Shared
32.39K
None
0.00
SCRIPPS E W CO OHIO
OTRShares1.39M
TypeSH
Market value$5.53M
3.69%
Sole
886.05K
Shared
499.87K
None
0.00
UTAH MED PRODS INC
OTRShares93.61K
TypeSH
Market value$5.24M
3.50%
Sole
60.94K
Shared
32.67K
None
0.00
NAVIGATOR HLDGS LTD
OTRShares301.21K
TypeSH
Market value$5.22M
3.48%
Sole
229.76K
Shared
71.45K
None
0.00
KEWAUNEE SCIENTIFIC CORP
OTRShares121.86K
TypeSH
Market value$4.56M
3.05%
Sole
84.22K
Shared
37.65K
None
0.00
UNIFI INC
OTRShares1.22M
TypeSH
Market value$4.28M
2.86%
Sole
703.44K
Shared
518.98K
None
0.00
CAMDEN NATL CORP
OTRShares89.57K
TypeSH
Market value$3.89M
2.60%
Sole
53K
Shared
36.57K
None
0.00
PATHFINDER BANCORP INC MD
OTRShares262.20K
TypeSH
Market value$3.70M
2.47%
Sole
210.84K
Shared
51.36K
None
0.00
CRAWFORD & CO
OTRShares288.18K
TypeSH
Market value$3.09M
2.06%
Sole
187.08K
Shared
101.10K
None
0.00
FREIGHTCAR AMER INC
OTRShares267.05K
TypeSH
Market value$2.96M
1.97%
Sole
187.63K
Shared
79.42K
None
0.00
SIFCO INDS INC
OTRShares488.98K
TypeSH
Market value$2.73M
1.82%
Sole
373.55K
Shared
115.44K
None
0.00
FOSTER L B CO
OTRShares83.97K
TypeSH
Market value$2.26M
1.51%
Sole
45.89K
Shared
38.08K
None
0.00
CONTANGO ORE INC
OTRShares76.15K
TypeSH
Market value$2.01M
1.34%
Sole
61.69K
Shared
14.46K
None
0.00
NI HLDGS INC
OTRShares129.90K
TypeSH
Market value$1.73M
1.15%
Sole
100.40K
Shared
29.50K
None
0.00
MID PENN BANCORP INC
OTRShares54.18K
TypeSH
Market value$1.68M
1.12%
Sole
40.99K
Shared
13.18K
None
0.00
CITIZENS FINL GROUP INC
OTRShares21.48K
TypeSH
Market value$1.25M
0.84%
Sole
16.93K
Shared
4.56K
None
0.00
EASTERN BANKSHARES INC
SOLEShares62.58K
TypeSH
Market value$1.15M
0.77%
Sole
24.71K
Shared
37.86K
None
0.00
F N B CORP
OTRShares64.08K
TypeSH
Market value$1.10M
0.73%
Sole
52.38K
Shared
11.69K
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
GREAT LAKES DREDGE & DOCK COOTR | COM | 1.39M | SH | $18.23M 12.18% | 958.26K | 431.55K | 0.00 |
TREDEGAR CORPOTR | COM | 1.66M | SH | $11.90M 7.95% | 955.30K | 701.80K | 0.00 |
EASTERN COOTR | COM | 529.08K | SH | $10.42M 6.96% | 337.42K | 191.66K | 0.00 |
INFUSYSTEM HLDGS INCOTR | COM | 1.08M | SH | $9.68M 6.46% | 764.52K | 314.21K | 0.00 |
VIRCO MFG COOTR | COM | 1.45M | SH | $9.25M 6.18% | 915.93K | 532.26K | 0.00 |
ESCALADE INCOTR | COM | 567.62K | SH | $7.66M 5.11% | 392.03K | 175.59K | 0.00 |
DLH HLDGS CORPOTR | COM | 1.11M | SH | $6.29M 4.20% | 675.43K | 437.62K | 0.00 |
ASTRONICS CORPOTR | COM | 102.24K | SH | $5.55M 3.70% | 69.85K | 32.39K | 0.00 |
SCRIPPS E W CO OHIOOTR | CL A NEW | 1.39M | SH | $5.53M 3.69% | 886.05K | 499.87K | 0.00 |
UTAH MED PRODS INCOTR | COM | 93.61K | SH | $5.24M 3.50% | 60.94K | 32.67K | 0.00 |
NAVIGATOR HLDGS LTDOTR | SHS | 301.21K | SH | $5.22M 3.48% | 229.76K | 71.45K | 0.00 |
KEWAUNEE SCIENTIFIC CORPOTR | COM | 121.86K | SH | $4.56M 3.05% | 84.22K | 37.65K | 0.00 |
UNIFI INCOTR | COM NEW | 1.22M | SH | $4.28M 2.86% | 703.44K | 518.98K | 0.00 |
CAMDEN NATL CORPOTR | COM | 89.57K | SH | $3.89M 2.60% | 53K | 36.57K | 0.00 |
PATHFINDER BANCORP INC MDOTR | COM | 262.20K | SH | $3.70M 2.47% | 210.84K | 51.36K | 0.00 |
CRAWFORD & COOTR | CL B | 288.18K | SH | $3.09M 2.06% | 187.08K | 101.10K | 0.00 |
FREIGHTCAR AMER INCOTR | COM | 267.05K | SH | $2.96M 1.97% | 187.63K | 79.42K | 0.00 |
SIFCO INDS INCOTR | COM | 488.98K | SH | $2.73M 1.82% | 373.55K | 115.44K | 0.00 |
FOSTER L B COOTR | COM | 83.97K | SH | $2.26M 1.51% | 45.89K | 38.08K | 0.00 |
CONTANGO ORE INCOTR | COM | 76.15K | SH | $2.01M 1.34% | 61.69K | 14.46K | 0.00 |
NI HLDGS INCOTR | COM | 129.90K | SH | $1.73M 1.15% | 100.40K | 29.50K | 0.00 |
MID PENN BANCORP INCOTR | COM | 54.18K | SH | $1.68M 1.12% | 40.99K | 13.18K | 0.00 |
CITIZENS FINL GROUP INCOTR | COM | 21.48K | SH | $1.25M 0.84% | 16.93K | 4.56K | 0.00 |
EASTERN BANKSHARES INCSOLE | COM | 62.58K | SH | $1.15M 0.77% | 24.71K | 37.86K | 0.00 |
F N B CORPOTR | COM | 64.08K | SH | $1.10M 0.73% | 52.38K | 11.69K | 0.00 |
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