Filed: 8/13/2025ACC: 0001462390-25-000018
📋 What this filing means
MINERVA ADVISORS LLC filed this quarterly 13F‑HR report disclosing 56 equity positions with a total reported market value of $152.59M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
56
Positions
$152.59M
Total AUM (reported)
13.96M
Total Shares
Allocation by class
COM$141.16M92.5%
CL A NEW$6.58M4.3%
COM NEW$3.14M2.1%
CL A$1.40M0.9%
CL B$313.0K0.2%
Portfolio Concentration
Top 3$43.49M28.5%
4–10$49.84M32.7%
11–25$42.15M27.6%
Rest$17.11M11.2%
Top 3 weight
28.5%
Top 10 weight
61.2%
Voting Authority Distribution
Total shares with voting rights: 13.96M
Sole
Full voting authority
9.07M
shares
% of voting shares65.0%
Shared
Joint voting authority
4.89M
shares
% of voting shares35.0%
None
No voting authority
0.00
shares
% of voting shares0.0%
Investment Discretion (by position count)
Sole7
Shared0
Other49
Dominant voting typeSole · 65.0% of voting shares
Institutional Holdings56
Rows:
GREAT LAKES DREDGE & DOCK CO
OTRShares1.39M
TypeSH
Market value$16.93M
11.09%
Sole
958.26K
Shared
431.55K
None
0.00
TREDEGAR CORP
OTRShares1.66M
TypeSH
Market value$14.58M
9.56%
Sole
955.30K
Shared
701.80K
None
0.00
EASTERN CO
OTRShares525.05K
TypeSH
Market value$11.98M
7.85%
Sole
335.19K
Shared
189.87K
None
0.00
VIRCO MANUFACTURING CO
OTRShares1.28M
TypeSH
Market value$10.24M
6.71%
Sole
805.65K
Shared
477.87K
None
0.00
ASTRONICS CORP
OTRShares255.91K
TypeSH
Market value$8.56M
5.61%
Sole
185.98K
Shared
69.92K
None
0.00
ESCALADE INC
OTRShares537.81K
TypeSH
Market value$7.49M
4.91%
Sole
372.79K
Shared
165.03K
None
0.00
DLH HOLDINGS CORP
OTRShares1.11M
TypeSH
Market value$6.44M
4.22%
Sole
666.72K
Shared
444.02K
None
0.00
INFUSYSTEM HLDGS INC
OTRShares994.78K
TypeSH
Market value$6.18M
4.05%
Sole
708.32K
Shared
286.46K
None
0.00
UNIFI INC
OTRShares1.09M
TypeSH
Market value$5.66M
3.71%
Sole
608.76K
Shared
476.45K
None
0.00
UTAL MED PRODS INC
OTRShares93.06K
TypeSH
Market value$5.27M
3.45%
Sole
60.39K
Shared
32.67K
None
0.00
THRYV HOLDINGS IINC
SOLEShares202.33K
TypeSH
Market value$4.68M
3.07%
Sole
176K
Shared
26.33K
None
0.00
KEWAUNEE SCIENTIFIC CP
SOLEShares77.44K
TypeSH
Market value$4.50M
2.95%
Sole
53.67K
Shared
23.77K
None
0.00
NAVIGATOR HOLDINGS LTD
OTRShares301.21K
TypeSH
Market value$4.30M
2.82%
Sole
229.76K
Shared
71.45K
None
0.00
PATHFINDER BANCORP INC
OTRShares262.20K
TypeSH
Market value$3.94M
2.58%
Sole
210.84K
Shared
51.36K
None
0.00
SCRIPPS E W CO OHIO
OTRShares1.26M
TypeSH
Market value$3.69M
2.42%
Sole
804.20K
Shared
455.65K
None
0.00
CAMDEN NATIONAL CORP
OTRShares89.57K
TypeSH
Market value$3.63M
2.38%
Sole
53K
Shared
36.57K
None
0.00
SAGA COMMUNICATIONS INC
OTRShares226.69K
TypeSH
Market value$2.89M
1.89%
Sole
153.48K
Shared
73.21K
None
0.00
CRAWFORD & CO CL B
OTRShares281.69K
TypeSH
Market value$2.83M
1.85%
Sole
180.89K
Shared
100.80K
None
0.00
FREIGHTCAR AMERICA INC
OTRShares219K
TypeSH
Market value$1.89M
1.24%
Sole
156.13K
Shared
62.88K
None
0.00
FOSTER L B CO
OTRShares83.97K
TypeSH
Market value$1.83M
1.20%
Sole
45.89K
Shared
38.08K
None
0.00
SIFCO INDUSTRIES INC
OTRShares466.90K
TypeSH
Market value$1.74M
1.14%
Sole
359.07K
Shared
107.83K
None
0.00
NI HOLDINGS INC
OTRShares129.90K
TypeSH
Market value$1.65M
1.08%
Sole
100.40K
Shared
29.50K
None
0.00
UNISYS CORP
OTRShares345.35K
TypeSH
Market value$1.56M
1.03%
Sole
153.20K
Shared
192.15K
None
0.00
MID PENN BANCORP
OTRShares54.18K
TypeSH
Market value$1.53M
1.00%
Sole
40.99K
Shared
13.18K
None
0.00
CONTANGO ORE INC
OTRShares76.15K
TypeSH
Market value$1.49M
0.97%
Sole
61.69K
Shared
14.46K
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
GREAT LAKES DREDGE & DOCK COOTR | COM | 1.39M | SH | $16.93M 11.09% | 958.26K | 431.55K | 0.00 |
TREDEGAR CORPOTR | COM | 1.66M | SH | $14.58M 9.56% | 955.30K | 701.80K | 0.00 |
EASTERN COOTR | COM | 525.05K | SH | $11.98M 7.85% | 335.19K | 189.87K | 0.00 |
VIRCO MANUFACTURING COOTR | COM | 1.28M | SH | $10.24M 6.71% | 805.65K | 477.87K | 0.00 |
ASTRONICS CORPOTR | COM | 255.91K | SH | $8.56M 5.61% | 185.98K | 69.92K | 0.00 |
ESCALADE INCOTR | COM | 537.81K | SH | $7.49M 4.91% | 372.79K | 165.03K | 0.00 |
DLH HOLDINGS CORPOTR | COM | 1.11M | SH | $6.44M 4.22% | 666.72K | 444.02K | 0.00 |
INFUSYSTEM HLDGS INCOTR | COM | 994.78K | SH | $6.18M 4.05% | 708.32K | 286.46K | 0.00 |
UNIFI INCOTR | COM | 1.09M | SH | $5.66M 3.71% | 608.76K | 476.45K | 0.00 |
UTAL MED PRODS INCOTR | COM | 93.06K | SH | $5.27M 3.45% | 60.39K | 32.67K | 0.00 |
THRYV HOLDINGS IINCSOLE | COM | 202.33K | SH | $4.68M 3.07% | 176K | 26.33K | 0.00 |
KEWAUNEE SCIENTIFIC CPSOLE | COM | 77.44K | SH | $4.50M 2.95% | 53.67K | 23.77K | 0.00 |
NAVIGATOR HOLDINGS LTDOTR | COM | 301.21K | SH | $4.30M 2.82% | 229.76K | 71.45K | 0.00 |
PATHFINDER BANCORP INCOTR | COM | 262.20K | SH | $3.94M 2.58% | 210.84K | 51.36K | 0.00 |
SCRIPPS E W CO OHIOOTR | CL A NEW | 1.26M | SH | $3.69M 2.42% | 804.20K | 455.65K | 0.00 |
CAMDEN NATIONAL CORPOTR | COM | 89.57K | SH | $3.63M 2.38% | 53K | 36.57K | 0.00 |
SAGA COMMUNICATIONS INCOTR | CL A NEW | 226.69K | SH | $2.89M 1.89% | 153.48K | 73.21K | 0.00 |
CRAWFORD & CO CL BOTR | COM | 281.69K | SH | $2.83M 1.85% | 180.89K | 100.80K | 0.00 |
FREIGHTCAR AMERICA INCOTR | COM | 219K | SH | $1.89M 1.24% | 156.13K | 62.88K | 0.00 |
FOSTER L B COOTR | COM | 83.97K | SH | $1.83M 1.20% | 45.89K | 38.08K | 0.00 |
SIFCO INDUSTRIES INCOTR | COM | 466.90K | SH | $1.74M 1.14% | 359.07K | 107.83K | 0.00 |
NI HOLDINGS INCOTR | COM | 129.90K | SH | $1.65M 1.08% | 100.40K | 29.50K | 0.00 |
UNISYS CORPOTR | COM NEW | 345.35K | SH | $1.56M 1.03% | 153.20K | 192.15K | 0.00 |
MID PENN BANCORPOTR | COM | 54.18K | SH | $1.53M 1.00% | 40.99K | 13.18K | 0.00 |
CONTANGO ORE INCOTR | COM | 76.15K | SH | $1.49M 0.97% | 61.69K | 14.46K | 0.00 |
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