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Minerva Advisors LLC
hedge fundUpdated 29 days agoManaged by Minerva Advisors Llc • Latest filing Q2 2026
Portfolio value
$158.3M
Q2 2026
Filings
13
Quarterly 13F history
Top-10 concentration
100.0%
Weight of largest holdings
Annualized return
1.9%
Implied from 13F holdings
Portfolio value history
13F-disclosed portfolio value over 15 quarters
Show data table
| Period | Portfolio value |
|---|---|
| Q4 2022 | $134.4M |
| Q1 2023 | $138.6M |
| Q2 2023 | $144.7M |
| Q3 2023 | $143M |
| Q4 2023 | $160M |
| Q1 2024 | $163.3M |
| Q2 2024 | $150M |
| Q3 2024 | $172.6M |
| Q4 2024 | $171M |
| Q1 2025 | $140.7M |
| Q2 2025 | $152.6M |
| Q3 2025 | $157.5M |
| Q4 2025 | $149.7M |
| Q1 2026 | $154.9M |
| Q2 2026 | $158.3M |
Top holdings
46 positions as of Q2 2026
| # | Stock | Value | Shares | % Portfolio | Change |
|---|---|---|---|---|---|
| 1 | E EML EASTERN CO | $15.2M | 546.4K | 9.61% | — |
| 2 | T TG TREDEGAR CORP | $13.3M | 1.67M | 8.38% | — |
| 3 | I INFU INFUSYSTEM HLDGS INC | $13M | 1.35M | 8.22% | — |
| 4 | S SIF SIFCO INDS INC | $10.7M | 455.6K | 6.74% | — |
| 5 | E ESCA ESCALADE INC | $10.7M | 567.2K | 6.73% | — |
| 6 | V VIRC VIRCO MFG CO | $9.4M | 1.54M | 5.96% | — |
| 7 | U UTMD UTAH MED PRODS INC | $6.5M | 93.6K | 4.08% | — |
| 8 | U UFI UNIFI INC | $6M | 1.26M | 3.78% | — |
| 9 | D DLHC DLH HLDGS CORP | $5.9M | 1.12M | 3.70% | — |
| 10 | N NVGS NAVIGATOR HLDGS LTD | $5.5M | 296.2K | 3.49% | — |
| 11 | K KEQU KEWAUNEE SCIENTIFIC CORP | $5.3M | 149.4K | 3.35% | — |
| 12 | ? N/A SCRIPPS E W CO OHIO | $5.1M | 1.83M | 3.21% | — |
| 13 | C CAC CAMDEN NATL CORP | $4.9M | 89.6K | 3.07% | — |
| 14 | A ATROB ASTRONICS CORP | $4.5M | 55.0K | 2.83% | — |
| 15 | ? N/A PATHFINDER BANCORP INC MD | $4.2M | 262.2K | 2.63% | — |
| 16 | R RAIL FREIGHTCAR AMER INC | $3.7M | 379.0K | 2.33% | — |
| 17 | K KELYB KELLY SVCS INC | $3.1M | 253.2K | 1.96% | — |
| 18 | F FSTR FOSTER L B CO | $3.1M | 67.9K | 1.94% | — |
| 19 | C CRD-B CRAWFORD & CO | $3M | 288.2K | 1.90% | — |
| 20 | ? N/A NI HLDGS INC | $2M | 129.9K | 1.29% | — |