Minerva Advisors LLC

CIK

1541536

Location

BALA CYNWYD, PA

Portfolio Value

Micro $1,944,941

Diversification

Diversified

Filing Date

Global Rank

#4,831 / 8,588 ▲ 247

Top Industry

Banks - Regional 14.5%

3Y Alpha vs SPY

-5.1%

Period ended 3 months ago

Filed May 12, 2026 · 36d

25 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+55.3%

SPY

+76.8%

Annualised alpha

-5.1%

Max drawdown

−27.2%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

45 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

11.6%

−1.0 pts

Top 5

41.5%

+0.4 pts

Top 10

63.8%

+1.8 pts

HHI

535

Diversified+14

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Industrials	44.1%	$66,586,386	10
Consumer Cyclical	18.7%	$28,211,030	4
Financial Services	16.4%	$24,841,403	23
Healthcare	11.2%	$16,917,082	2
Energy	3.8%	$5,725,777	1
Communication Services	3.8%	$5,678,542	1
Basic Materials	1.3%	$1,944,941	2
Technology	0.7%	$1,110,329	2

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

11 positions

Ticker	Company	Δ Shares	Shares	Value
KELYA	Kelly Services Inc	+141,396	199,796	$1,768,193
SSP	E.W. SCRIPPS Co	+140,570	1,526,490	$5,678,542
INFU	InfuSystem Holdings, Inc	+125,374	1,204,105	$11,113,889
RAIL	FreightCar America, Inc.	+73,977	341,023	$2,717,952
VIRC	Virco Mfg Corporation	+69,254	1,517,452	$9,286,805
UFI	Unifi Inc	+36,206	1,258,626	$4,493,294
EML	Eastern Co	+17,318	546,402	$11,059,176
NWFL	Norwood Financial Corp	+14,899	28,580	$840,822
KEQU	Kewaunee Scientific Corp /De/	+14,842	136,705	$4,684,880
FRME	First Merchants Corp	+13,787	23,662	$916,428
TG	Tredegar Corp	+8,500	1,665,607	$13,241,574
No positions match the current search.

Trimmed

Positions the filer reduced

7 positions

Ticker	Company	Δ Shares	Shares	Value
GLDD	Great Lakes Dredge & Dock CORP	−360,104	1,029,703	$17,504,951
ATRO	Astronics Corp	−31,904	70,340	$4,693,787
CTGO	Contango Silver & Gold Inc.	−16,500	59,647	$1,118,381
SIF	Sifco Industries Inc	−8,334	480,650	$6,397,450
NVGS	Navigator Holdings Ltd.	−5,000	296,212	$5,725,777
THRY	Thryv Holdings, Inc.	−4,000	144,329	$395,461
DLHC	DLH Holdings Corp.	−20	1,113,037	$6,477,874
No positions match the current search.

New Positions

Positions the filer opened this quarter

No qualifying positions this quarter.

Sold Out

Positions the filer fully exited

7 positions

Ticker	Company	Shares	Value
DORM	Dorman Products, Inc.	8,590	$1,058,202
USLM	United States Lime & Minerals Inc	6,250	$748,375
SSB	SouthState Bank Corp	5,661	$532,756
ACNT	Ascent Industries Co.	30,415	$492,418
CZFS	Citizens Financial Services Inc	7,881	$449,374
CBU	Community Financial System, Inc.	6,618	$380,137
SGA	Saga Communications Inc	31,831	$364,464
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

2 positions · $1,944,941 total · Basic Materials only · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Energy Financial Services Healthcare Industrials Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio	History
FMC	Fmc Corp Basic Materials	Held	48,000	0	$826,560	+24.2%	42.50%
CTGO	Contango Silver & Gold Inc. Basic Materials	Reduced	59,647	-16,500	$1,118,381	−44.4%	57.50%