Minerva Advisors LLC

CIK

1541536

Location

BALA CYNWYD, PA

Portfolio Value

Micro $1,110,329

Diversification

Diversified

Filing Date

Global Rank

#4,489 / 8,232 ▲ 289

Top Industry

Banks - Regional 14.5%

3Y Alpha vs SPY

-4.0%

Period ended 2 months ago

Filed May 12, 2026 · 32d

24 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

+59.7%

SPY

+76.5%

Annualised alpha

-4.0%

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 Sep 30, 2025

Top Position

11.6%

+0.5 pts

Top 5

41.5%

−0.7 pts

Top 10

63.8%

−0.6 pts

HHI

535

Diversified+10

Portfolio Trend

24 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 Sep 30, 2025

Added To

Positions the filer increased

15 positions

Ticker	Company	Δ Shares	Shares	Value
INFU	InfuSystem Holdings, Inc	+178,316	1,204,105	$11,113,889
KELYA	Kelly Services Inc	+159,796	199,796	$1,768,193
VIRC	Virco Mfg Corporation	+154,950	1,517,452	$9,286,805
SSP	E.W. SCRIPPS Co	+140,570	1,526,490	$5,678,542
UFI	Unifi Inc	+106,145	1,258,626	$4,493,294
RAIL	FreightCar America, Inc.	+82,477	341,023	$2,717,952
KEQU	Kewaunee Scientific Corp /De/	+56,431	136,705	$4,684,880
ESCA	Escalade Inc	+17,429	567,621	$9,746,051
EML	Eastern Co	+16,349	546,402	$11,059,176
NWFL	Norwood Financial Corp	+14,899	28,580	$840,822
FRME	First Merchants Corp	+13,787	23,662	$916,428
SIF	Sifco Industries Inc	+13,749	480,650	$6,397,450
TG	Tredegar Corp	+8,500	1,665,607	$13,241,574
UTMD	Utah Medical Products Inc	+557	93,615	$5,803,193
RMBI	Richmond Mutual Bancorporation, Inc.	+224	30,224	$410,139
No positions match the current search.

Trimmed

Positions the filer reduced

6 positions

Ticker	Company	Δ Shares	Shares	Value
GLDD	Great Lakes Dredge & Dock CORP	−360,104	1,029,703	$17,504,951
ATRO	Astronics Corp	−124,701	70,340	$4,693,787
THRY	Thryv Holdings, Inc.	−58,000	144,329	$395,461
CTGO	Contango Silver & Gold Inc.	−16,500	59,647	$1,118,381
NVGS	Navigator Holdings Ltd.	−5,000	296,212	$5,725,777
DLHC	DLH Holdings Corp.	−3,765	1,113,037	$6,477,874
No positions match the current search.

New Positions

Positions the filer opened this quarter

2 positions

Ticker	Company	Shares	Value
EBC	Eastern Bankshares, Inc.	62,576	$1,223,985
FMC	Fmc Corp	48,000	$826,560
No positions match the current search.

Sold Out

Positions the filer fully exited

7 positions

Ticker	Company	Shares	Value
SGA	Saga Communications Inc	226,688	$2,819,997
DORM	Dorman Products, Inc.	8,590	$1,339,009
USLM	United States Lime & Minerals Inc	6,250	$822,187
SSB	SouthState Bank Corp	5,661	$559,703
CZFS	Citizens Financial Services Inc	7,881	$475,066
ACNT	Ascent Industries Co.	30,415	$391,744
CBU	Community Financial System, Inc.	6,618	$388,079
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

2 positions · $1,110,329 total · Technology 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
UIS	Unisys Corp Technology	Held	345,347	0	$714,868	−46.9%	64.38%
THRY	Thryv Holdings, Inc. Technology	Reduced	144,329	-58,000	$395,461	−83.8%	35.62%