Filed: 5/8/2025ACC: 0001462390-25-000010
📋 What this filing means
MINERVA ADVISORS LLC filed this quarterly 13F‑HR report disclosing 55 equity positions with a total reported market value of $140.70M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
55
Positions
$140.70M
Total AUM (reported)
13.61M
Total Shares
Allocation by class
COM$130.43M92.7%
CL A NEW$6.56M4.7%
COM NEW$2.50M1.8%
CL A$912.6K0.6%
CL B$295.5K0.2%
Portfolio Concentration
Top 3$37.66M26.8%
4–10$49.32M35.1%
11–25$37.40M26.6%
Rest$16.31M11.6%
Top 3 weight
26.8%
Top 10 weight
61.8%
Voting Authority Distribution
Total shares with voting rights: 13.61M
Sole
Full voting authority
8.94M
shares
% of voting shares65.6%
Shared
Joint voting authority
4.68M
shares
% of voting shares34.4%
None
No voting authority
0.00
shares
% of voting shares0.0%
Investment Discretion (by position count)
Sole7
Shared0
Other48
Dominant voting typeSole · 65.6% of voting shares
Institutional Holdings55
Rows:
EASTERN CO
OTRShares505.99K
TypeSH
Market value$12.81M
9.11%
Sole
333.57K
Shared
172.42K
None
0.00
TREDEGAR CORP
OTRShares1.66M
TypeSH
Market value$12.76M
9.07%
Sole
955.30K
Shared
701.80K
None
0.00
GREAT LAKES DREDGE & DOCK CO
OTRShares1.39M
TypeSH
Market value$12.09M
8.59%
Sole
958.26K
Shared
431.55K
None
0.00
VIRCO MANUFACTURING CO
OTRShares1.21M
TypeSH
Market value$11.45M
8.14%
Sole
782.36K
Shared
428.10K
None
0.00
ASTRONICS CORP
OTRShares463.11K
TypeSH
Market value$11.19M
7.96%
Sole
358.18K
Shared
104.92K
None
0.00
ESCALADE INC
OTRShares537.81K
TypeSH
Market value$8.23M
5.85%
Sole
372.79K
Shared
165.03K
None
0.00
ICC HOLDINGS INC
OTRShares910.68K
TypeSH
Market value$4.90M
3.48%
Sole
680.21K
Shared
230.47K
None
0.00
UTAL MED PRODS INC
OTRShares86.90K
TypeSH
Market value$4.87M
3.46%
Sole
54.23K
Shared
32.67K
None
0.00
UNIFI INC
OTRShares907.77K
TypeSH
Market value$4.37M
3.10%
Sole
484.95K
Shared
422.82K
None
0.00
PATHFINDER BANCORP INC
OTRShares262.20K
TypeSH
Market value$4.31M
3.06%
Sole
210.84K
Shared
51.36K
None
0.00
DLH HOLDINGS CORP
OTRShares1.02M
TypeSH
Market value$4.12M
2.93%
Sole
618.75K
Shared
399.65K
None
0.00
NAVIGATOR HOLDINGS LTD
OTRShares301.21K
TypeSH
Market value$4.01M
2.85%
Sole
229.76K
Shared
71.45K
None
0.00
SCRIPPS E W CO OHIO
OTRShares1.26M
TypeSH
Market value$3.73M
2.65%
Sole
804.20K
Shared
455.65K
None
0.00
CAMDEN NATIONAL CORP
OTRShares89.57K
TypeSH
Market value$3.62M
2.58%
Sole
53K
Shared
36.57K
None
0.00
CRAWFORD & CO CL B
OTRShares276.69K
TypeSH
Market value$3.16M
2.25%
Sole
175.89K
Shared
100.80K
None
0.00
KEWAUNEE SCIENTIFIC CP
SOLEShares73.77K
TypeSH
Market value$2.90M
2.06%
Sole
52.23K
Shared
21.54K
None
0.00
SAGA COMMUNICATIONS INC
OTRShares226.69K
TypeSH
Market value$2.83M
2.01%
Sole
153.48K
Shared
73.21K
None
0.00
THRYV HOLDINGS IINC
SOLEShares202.33K
TypeSH
Market value$2.59M
1.84%
Sole
176K
Shared
26.33K
None
0.00
NI HOLDINGS INC
OTRShares129.90K
TypeSH
Market value$1.85M
1.32%
Sole
100.40K
Shared
29.50K
None
0.00
UNISYS CORP
OTRShares345.35K
TypeSH
Market value$1.59M
1.13%
Sole
153.20K
Shared
192.15K
None
0.00
VILLAGE BANK & TRUST FIN CO
SOLEShares19.75K
TypeSH
Market value$1.58M
1.13%
Sole
17.95K
Shared
1.80K
None
0.00
FOSTER L B CO
OTRShares79.80K
TypeSH
Market value$1.57M
1.12%
Sole
42.37K
Shared
37.42K
None
0.00
MID PENN BANCORP
OTRShares51.73K
TypeSH
Market value$1.34M
0.95%
Sole
39.23K
Shared
12.50K
None
0.00
SIFCO INDUSTRIES INC
OTRShares466.75K
TypeSH
Market value$1.29M
0.92%
Sole
358.92K
Shared
107.83K
None
0.00
FREIGHTCAR AMERICA INC
OTRShares219K
TypeSH
Market value$1.21M
0.86%
Sole
156.13K
Shared
62.88K
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
EASTERN COOTR | COM | 505.99K | SH | $12.81M 9.11% | 333.57K | 172.42K | 0.00 |
TREDEGAR CORPOTR | COM | 1.66M | SH | $12.76M 9.07% | 955.30K | 701.80K | 0.00 |
GREAT LAKES DREDGE & DOCK COOTR | COM | 1.39M | SH | $12.09M 8.59% | 958.26K | 431.55K | 0.00 |
VIRCO MANUFACTURING COOTR | COM | 1.21M | SH | $11.45M 8.14% | 782.36K | 428.10K | 0.00 |
ASTRONICS CORPOTR | COM | 463.11K | SH | $11.19M 7.96% | 358.18K | 104.92K | 0.00 |
ESCALADE INCOTR | COM | 537.81K | SH | $8.23M 5.85% | 372.79K | 165.03K | 0.00 |
ICC HOLDINGS INCOTR | COM | 910.68K | SH | $4.90M 3.48% | 680.21K | 230.47K | 0.00 |
UTAL MED PRODS INCOTR | COM | 86.90K | SH | $4.87M 3.46% | 54.23K | 32.67K | 0.00 |
UNIFI INCOTR | COM | 907.77K | SH | $4.37M 3.10% | 484.95K | 422.82K | 0.00 |
PATHFINDER BANCORP INCOTR | COM | 262.20K | SH | $4.31M 3.06% | 210.84K | 51.36K | 0.00 |
DLH HOLDINGS CORPOTR | COM | 1.02M | SH | $4.12M 2.93% | 618.75K | 399.65K | 0.00 |
NAVIGATOR HOLDINGS LTDOTR | COM | 301.21K | SH | $4.01M 2.85% | 229.76K | 71.45K | 0.00 |
SCRIPPS E W CO OHIOOTR | CL A NEW | 1.26M | SH | $3.73M 2.65% | 804.20K | 455.65K | 0.00 |
CAMDEN NATIONAL CORPOTR | COM | 89.57K | SH | $3.62M 2.58% | 53K | 36.57K | 0.00 |
CRAWFORD & CO CL BOTR | COM | 276.69K | SH | $3.16M 2.25% | 175.89K | 100.80K | 0.00 |
KEWAUNEE SCIENTIFIC CPSOLE | COM | 73.77K | SH | $2.90M 2.06% | 52.23K | 21.54K | 0.00 |
SAGA COMMUNICATIONS INCOTR | CL A NEW | 226.69K | SH | $2.83M 2.01% | 153.48K | 73.21K | 0.00 |
THRYV HOLDINGS IINCSOLE | COM | 202.33K | SH | $2.59M 1.84% | 176K | 26.33K | 0.00 |
NI HOLDINGS INCOTR | COM | 129.90K | SH | $1.85M 1.32% | 100.40K | 29.50K | 0.00 |
UNISYS CORPOTR | COM NEW | 345.35K | SH | $1.59M 1.13% | 153.20K | 192.15K | 0.00 |
VILLAGE BANK & TRUST FIN COSOLE | COM | 19.75K | SH | $1.58M 1.13% | 17.95K | 1.80K | 0.00 |
FOSTER L B COOTR | COM | 79.80K | SH | $1.57M 1.12% | 42.37K | 37.42K | 0.00 |
MID PENN BANCORPOTR | COM | 51.73K | SH | $1.34M 0.95% | 39.23K | 12.50K | 0.00 |
SIFCO INDUSTRIES INCOTR | COM | 466.75K | SH | $1.29M 0.92% | 358.92K | 107.83K | 0.00 |
FREIGHTCAR AMERICA INCOTR | COM | 219K | SH | $1.21M 0.86% | 156.13K | 62.88K | 0.00 |
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