Filed: 8/12/2026ACC: 0001420506-26-001549
📋 What this filing means
MINERVA ADVISORS LLC filed this quarterly 13F‑HR report disclosing 46 equity positions with a total reported market value of $158.28M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
46
Positions
$158.28M
Total AUM (reported)
13.93M
Total Shares
Allocation by class
COM$130.74M82.6%
COM NEW$9.56M6.0%
SHS$5.52M3.5%
CL A NEW$5.08M3.2%
CL A$3.99M2.5%
CL B$3.39M2.1%
Portfolio Concentration
Top 3$41.49M26.2%
4–10$54.56M34.5%
11–25$46.73M29.5%
Rest$15.49M9.8%
Top 3 weight
26.2%
Top 10 weight
60.7%
Voting Authority Distribution
Total shares with voting rights: 13.93M
Sole
Full voting authority
9M
shares
% of voting shares64.6%
Shared
Joint voting authority
4.93M
shares
% of voting shares35.4%
None
No voting authority
0.00
shares
% of voting shares0.0%
Investment Discretion (by position count)
Sole0
Shared0
Other46
Dominant voting typeSole · 64.6% of voting shares
Institutional Holdings46
Rows:
EASTERN CO
OTRShares546.40K
TypeSH
Market value$15.22M
9.61%
Sole
348.70K
Shared
197.70K
None
0.00
TREDEGAR CORP
OTRShares1.67M
TypeSH
Market value$13.26M
8.38%
Sole
960.30K
Shared
705.30K
None
0.00
INFUSYSTEM HLDGS INC
OTRShares1.35M
TypeSH
Market value$13.01M
8.22%
Sole
932.57K
Shared
416.05K
None
0.00
SIFCO INDS INC
OTRShares455.65K
TypeSH
Market value$10.66M
6.74%
Sole
346.96K
Shared
108.69K
None
0.00
ESCALADE INC
OTRShares567.22K
TypeSH
Market value$10.65M
6.73%
Sole
391.63K
Shared
175.59K
None
0.00
VIRCO MFG CO
OTRShares1.54M
TypeSH
Market value$9.43M
5.96%
Sole
966.94K
Shared
568.52K
None
0.00
UTAH MED PRODS INC
OTRShares93.61K
TypeSH
Market value$6.46M
4.08%
Sole
60.94K
Shared
32.67K
None
0.00
UNIFI INC
OTRShares1.26M
TypeSH
Market value$5.98M
3.78%
Sole
729.13K
Shared
529.67K
None
0.00
DLH HLDGS CORP
OTRShares1.12M
TypeSH
Market value$5.86M
3.70%
Sole
678.76K
Shared
437.60K
None
0.00
NAVIGATOR HLDGS LTD
OTRShares296.21K
TypeSH
Market value$5.52M
3.49%
Sole
225.97K
Shared
70.25K
None
0.00
KEWAUNEE SCIENTIFIC CORP
OTRShares149.41K
TypeSH
Market value$5.31M
3.35%
Sole
103.17K
Shared
46.24K
None
0.00
SCRIPPS E W CO OHIO
OTRShares1.83M
TypeSH
Market value$5.08M
3.21%
Sole
1.23M
Shared
604.48K
None
0.00
CAMDEN NATL CORP
OTRShares89.57K
TypeSH
Market value$4.86M
3.07%
Sole
53K
Shared
36.57K
None
0.00
ASTRONICS CORP
OTRShares55.04K
TypeSH
Market value$4.47M
2.83%
Sole
21.45K
Shared
33.59K
None
0.00
PATHFINDER BANCORP INC MD
OTRShares262.20K
TypeSH
Market value$4.16M
2.63%
Sole
210.84K
Shared
51.36K
None
0.00
FREIGHTCAR AMER INC
OTRShares379.03K
TypeSH
Market value$3.69M
2.33%
Sole
258.44K
Shared
120.59K
None
0.00
KELLY SVCS INC
OTRShares253.16K
TypeSH
Market value$3.11M
1.96%
Sole
148.25K
Shared
104.91K
None
0.00
FOSTER L B CO
OTRShares67.92K
TypeSH
Market value$3.07M
1.94%
Sole
37.05K
Shared
30.88K
None
0.00
CRAWFORD & CO
OTRShares288.18K
TypeSH
Market value$3.01M
1.90%
Sole
187.08K
Shared
101.10K
None
0.00
NI HLDGS INC
OTRShares129.90K
TypeSH
Market value$2.04M
1.29%
Sole
100.40K
Shared
29.50K
None
0.00
COLUMBIA FINL INC
OTRShares89.29K
TypeSH
Market value$1.89M
1.20%
Sole
71.29K
Shared
18K
None
0.00
MID PENN BANCORP INC
OTRShares54.18K
TypeSH
Market value$1.89M
1.19%
Sole
40.99K
Shared
13.18K
None
0.00
CITIZENS FINL GROUP INC
OTRShares21.48K
TypeSH
Market value$1.51M
0.95%
Sole
16.93K
Shared
4.56K
None
0.00
EASTERN BANKSHARES INC
OTRShares62.58K
TypeSH
Market value$1.39M
0.88%
Sole
24.71K
Shared
37.86K
None
0.00
UNISYS CORP
OTRShares345.35K
TypeSH
Market value$1.26M
0.80%
Sole
153.20K
Shared
192.15K
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
EASTERN COOTR | COM | 546.40K | SH | $15.22M 9.61% | 348.70K | 197.70K | 0.00 |
TREDEGAR CORPOTR | COM | 1.67M | SH | $13.26M 8.38% | 960.30K | 705.30K | 0.00 |
INFUSYSTEM HLDGS INCOTR | COM | 1.35M | SH | $13.01M 8.22% | 932.57K | 416.05K | 0.00 |
SIFCO INDS INCOTR | COM | 455.65K | SH | $10.66M 6.74% | 346.96K | 108.69K | 0.00 |
ESCALADE INCOTR | COM | 567.22K | SH | $10.65M 6.73% | 391.63K | 175.59K | 0.00 |
VIRCO MFG COOTR | COM | 1.54M | SH | $9.43M 5.96% | 966.94K | 568.52K | 0.00 |
UTAH MED PRODS INCOTR | COM | 93.61K | SH | $6.46M 4.08% | 60.94K | 32.67K | 0.00 |
UNIFI INCOTR | COM NEW | 1.26M | SH | $5.98M 3.78% | 729.13K | 529.67K | 0.00 |
DLH HLDGS CORPOTR | COM | 1.12M | SH | $5.86M 3.70% | 678.76K | 437.60K | 0.00 |
NAVIGATOR HLDGS LTDOTR | SHS | 296.21K | SH | $5.52M 3.49% | 225.97K | 70.25K | 0.00 |
KEWAUNEE SCIENTIFIC CORPOTR | COM | 149.41K | SH | $5.31M 3.35% | 103.17K | 46.24K | 0.00 |
SCRIPPS E W CO OHIOOTR | CL A NEW | 1.83M | SH | $5.08M 3.21% | 1.23M | 604.48K | 0.00 |
CAMDEN NATL CORPOTR | COM | 89.57K | SH | $4.86M 3.07% | 53K | 36.57K | 0.00 |
ASTRONICS CORPOTR | COM | 55.04K | SH | $4.47M 2.83% | 21.45K | 33.59K | 0.00 |
PATHFINDER BANCORP INC MDOTR | COM | 262.20K | SH | $4.16M 2.63% | 210.84K | 51.36K | 0.00 |
FREIGHTCAR AMER INCOTR | COM | 379.03K | SH | $3.69M 2.33% | 258.44K | 120.59K | 0.00 |
KELLY SVCS INCOTR | CL A | 253.16K | SH | $3.11M 1.96% | 148.25K | 104.91K | 0.00 |
FOSTER L B COOTR | COM | 67.92K | SH | $3.07M 1.94% | 37.05K | 30.88K | 0.00 |
CRAWFORD & COOTR | CL B | 288.18K | SH | $3.01M 1.90% | 187.08K | 101.10K | 0.00 |
NI HLDGS INCOTR | COM | 129.90K | SH | $2.04M 1.29% | 100.40K | 29.50K | 0.00 |
COLUMBIA FINL INCOTR | COM | 89.29K | SH | $1.89M 1.20% | 71.29K | 18K | 0.00 |
MID PENN BANCORP INCOTR | COM | 54.18K | SH | $1.89M 1.19% | 40.99K | 13.18K | 0.00 |
CITIZENS FINL GROUP INCOTR | COM | 21.48K | SH | $1.51M 0.95% | 16.93K | 4.56K | 0.00 |
EASTERN BANKSHARES INCOTR | COM | 62.58K | SH | $1.39M 0.88% | 24.71K | 37.86K | 0.00 |
UNISYS CORPOTR | COM NEW | 345.35K | SH | $1.26M 0.80% | 153.20K | 192.15K | 0.00 |
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