Filed: 2/4/2025ACC: 0001462390-25-000003
📋 What this filing means
MINERVA ADVISORS LLC filed this quarterly 13F‑HR report disclosing 57 equity positions with a total reported market value of $170.96M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
57
Positions
$170.96M
Total AUM (reported)
13.60M
Total Shares
Allocation by class
COM$161.67M94.6%
CL A NEW$5.09M3.0%
COM NEW$3.23M1.9%
CL A$717.8K0.4%
CL B$251.8K0.1%
Portfolio Concentration
Top 3$45.66M26.7%
4–10$60.24M35.2%
11–25$46.26M27.1%
Rest$18.79M11.0%
Top 3 weight
26.7%
Top 10 weight
61.9%
Voting Authority Distribution
Total shares with voting rights: 13.60M
Sole
Full voting authority
9.07M
shares
% of voting shares66.7%
Shared
Joint voting authority
4.53M
shares
% of voting shares33.3%
None
No voting authority
0.00
shares
% of voting shares0.0%
Investment Discretion (by position count)
Sole7
Shared0
Other50
Dominant voting typeSole · 66.7% of voting shares
Institutional Holdings57
Rows:
UNIVERSAL STAINLESS & ALLOY
OTRShares391.49K
TypeSH
Market value$17.25M
10.09%
Sole
290.26K
Shared
101.23K
None
0.00
GREAT LAKES DREDGE & DOCK CO
OTRShares1.34M
TypeSH
Market value$15.12M
8.85%
Sole
958.26K
Shared
383.55K
None
0.00
EASTERN CO
OTRShares500.98K
TypeSH
Market value$13.30M
7.78%
Sole
333.57K
Shared
167.41K
None
0.00
TREDEGAR CORP
OTRShares1.66M
TypeSH
Market value$12.73M
7.44%
Sole
955.30K
Shared
701.80K
None
0.00
VIRCO MANUFACTURING CO
OTRShares1.16M
TypeSH
Market value$11.87M
6.94%
Sole
780.86K
Shared
381.73K
None
0.00
ESCALADE INC
OTRShares537.81K
TypeSH
Market value$7.68M
4.49%
Sole
372.79K
Shared
165.03K
None
0.00
ASTRONICS CORP
OTRShares463.11K
TypeSH
Market value$7.39M
4.32%
Sole
358.18K
Shared
104.92K
None
0.00
INFUSYSTEM HLDGS INC
OTRShares846.85K
TypeSH
Market value$7.10M
4.15%
Sole
662.97K
Shared
183.88K
None
0.00
DLH HOLDINGS CORP
OTRShares847.59K
TypeSH
Market value$6.81M
3.98%
Sole
544.34K
Shared
303.25K
None
0.00
KEWAUNEE SCIENTIFIC CP
SOLEShares109.49K
TypeSH
Market value$6.67M
3.90%
Sole
78.20K
Shared
31.30K
None
0.00
UNIFI INC
OTRShares855.24K
TypeSH
Market value$5.35M
3.13%
Sole
452.75K
Shared
402.49K
None
0.00
UTAL MED PRODS INC
OTRShares78.39K
TypeSH
Market value$4.82M
2.82%
Sole
45.72K
Shared
32.67K
None
0.00
NAVIGATOR HOLDINGS LTD
OTRShares306.21K
TypeSH
Market value$4.70M
2.75%
Sole
233.56K
Shared
72.65K
None
0.00
PATHFINDER BANCORP INC
OTRShares262.20K
TypeSH
Market value$4.46M
2.61%
Sole
210.84K
Shared
51.36K
None
0.00
CAMDEN NATIONAL CORP
OTRShares89.57K
TypeSH
Market value$3.82M
2.23%
Sole
53K
Shared
36.57K
None
0.00
THRYV HOLDINGS IINC
SOLEShares223.83K
TypeSH
Market value$3.31M
1.94%
Sole
197.50K
Shared
26.33K
None
0.00
CRAWFORD & CO CL B
OTRShares276.69K
TypeSH
Market value$3.10M
1.82%
Sole
175.89K
Shared
100.80K
None
0.00
SCRIPPS E W CO OHIO
OTRShares1.17M
TypeSH
Market value$2.59M
1.52%
Sole
712.20K
Shared
455.65K
None
0.00
SAGA COMMUNICATIONS INC
OTRShares226.69K
TypeSH
Market value$2.50M
1.46%
Sole
153.48K
Shared
73.21K
None
0.00
UNISYS CORP
OTRShares345.35K
TypeSH
Market value$2.19M
1.28%
Sole
153.20K
Shared
192.15K
None
0.00
FOSTER L B CO
OTRShares79.80K
TypeSH
Market value$2.15M
1.26%
Sole
42.37K
Shared
37.42K
None
0.00
NI HOLDINGS INC
OTRShares129.90K
TypeSH
Market value$2.04M
1.19%
Sole
100.40K
Shared
29.50K
None
0.00
FREIGHTCAR AMERICA INC
OTRShares219K
TypeSH
Market value$1.96M
1.14%
Sole
156.13K
Shared
62.88K
None
0.00
SIFCO INDUSTRIES INC
OTRShares466.75K
TypeSH
Market value$1.75M
1.03%
Sole
358.92K
Shared
107.83K
None
0.00
VILLAGE BANK & TRUST FIN CO
SOLEShares19.75K
TypeSH
Market value$1.53M
0.90%
Sole
17.95K
Shared
1.80K
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
UNIVERSAL STAINLESS & ALLOYOTR | COM | 391.49K | SH | $17.25M 10.09% | 290.26K | 101.23K | 0.00 |
GREAT LAKES DREDGE & DOCK COOTR | COM | 1.34M | SH | $15.12M 8.85% | 958.26K | 383.55K | 0.00 |
EASTERN COOTR | COM | 500.98K | SH | $13.30M 7.78% | 333.57K | 167.41K | 0.00 |
TREDEGAR CORPOTR | COM | 1.66M | SH | $12.73M 7.44% | 955.30K | 701.80K | 0.00 |
VIRCO MANUFACTURING COOTR | COM | 1.16M | SH | $11.87M 6.94% | 780.86K | 381.73K | 0.00 |
ESCALADE INCOTR | COM | 537.81K | SH | $7.68M 4.49% | 372.79K | 165.03K | 0.00 |
ASTRONICS CORPOTR | COM | 463.11K | SH | $7.39M 4.32% | 358.18K | 104.92K | 0.00 |
INFUSYSTEM HLDGS INCOTR | COM | 846.85K | SH | $7.10M 4.15% | 662.97K | 183.88K | 0.00 |
DLH HOLDINGS CORPOTR | COM | 847.59K | SH | $6.81M 3.98% | 544.34K | 303.25K | 0.00 |
KEWAUNEE SCIENTIFIC CPSOLE | COM | 109.49K | SH | $6.67M 3.90% | 78.20K | 31.30K | 0.00 |
UNIFI INCOTR | COM | 855.24K | SH | $5.35M 3.13% | 452.75K | 402.49K | 0.00 |
UTAL MED PRODS INCOTR | COM | 78.39K | SH | $4.82M 2.82% | 45.72K | 32.67K | 0.00 |
NAVIGATOR HOLDINGS LTDOTR | COM | 306.21K | SH | $4.70M 2.75% | 233.56K | 72.65K | 0.00 |
PATHFINDER BANCORP INCOTR | COM | 262.20K | SH | $4.46M 2.61% | 210.84K | 51.36K | 0.00 |
CAMDEN NATIONAL CORPOTR | COM | 89.57K | SH | $3.82M 2.23% | 53K | 36.57K | 0.00 |
THRYV HOLDINGS IINCSOLE | COM | 223.83K | SH | $3.31M 1.94% | 197.50K | 26.33K | 0.00 |
CRAWFORD & CO CL BOTR | COM | 276.69K | SH | $3.10M 1.82% | 175.89K | 100.80K | 0.00 |
SCRIPPS E W CO OHIOOTR | CL A NEW | 1.17M | SH | $2.59M 1.52% | 712.20K | 455.65K | 0.00 |
SAGA COMMUNICATIONS INCOTR | CL A NEW | 226.69K | SH | $2.50M 1.46% | 153.48K | 73.21K | 0.00 |
UNISYS CORPOTR | COM NEW | 345.35K | SH | $2.19M 1.28% | 153.20K | 192.15K | 0.00 |
FOSTER L B COOTR | COM | 79.80K | SH | $2.15M 1.26% | 42.37K | 37.42K | 0.00 |
NI HOLDINGS INCOTR | COM | 129.90K | SH | $2.04M 1.19% | 100.40K | 29.50K | 0.00 |
FREIGHTCAR AMERICA INCOTR | COM | 219K | SH | $1.96M 1.14% | 156.13K | 62.88K | 0.00 |
SIFCO INDUSTRIES INCOTR | COM | 466.75K | SH | $1.75M 1.03% | 358.92K | 107.83K | 0.00 |
VILLAGE BANK & TRUST FIN COSOLE | COM | 19.75K | SH | $1.53M 0.90% | 17.95K | 1.80K | 0.00 |
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