Minerva Advisors LLC 13F holdings, Q4 2025
Holdings as of December 31, 2025 · filings on SEC EDGAR · latest filing →
Minerva Advisors LLC disclosed 57 US equity positions worth $149.7m in its Q4 2025 13F filing. The largest position was GLDD at 12.2% of the reported book, followed by TG and EML. Against the Q3 2025 filing, it opened 2 new positions, added to 10 and reduced 2 among the top 50 holdings.
What did Minerva Advisors LLC own in Q4 2025? Top 50 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q3 2025 |
|---|---|---|---|---|---|---|---|
| 1 | GLDD GREAT LAKES DREDGE & DOCK CO | 12.2% | $18.2m | 1,389,807 | 0% | held | |
| 2 | TG TREDEGAR CORP | Industrials | 7.9% | $11.9m | 1,657,107 | 0% | held |
| 3 | EML EASTERN CO | 7.0% | $10.4m | 529,084 | -0% | held | |
| 4 | INFU INFUSYSTEM HLDGS INC | Healthcare | 6.5% | $9.7m | 1,078,731 | 5% | added |
| 5 | VIRC VIRCO MFG CO | Consumer Cyclical | 6.2% | $9.3m | 1,448,198 | 6% | added |
| 6 | ESCA ESCALADE INC | 5.1% | $7.7m | 567,621 | 3% | added | |
| 7 | DLHC DLH HLDGS CORP | 4.2% | $6.3m | 1,113,057 | -0% | held | |
| 8 | ATRO ASTRONICS CORP | Industrials | 3.7% | $5.5m | 102,244 | -48% | reduced |
| 9 | SSP SCRIPPS E W CO OHIO | 3.7% | $5.5m | 1,385,920 | 0% | held | |
| 10 | UTMD UTAH MED PRODS INC | 3.5% | $5.2m | 93,615 | 1% | added | |
| 11 | NVGS NAVIGATOR HLDGS LTD | Energy | 3.5% | $5.2m | 301,212 | 0% | held |
| 12 | KEQU KEWAUNEE SCIENTIFIC CORP | 3.0% | $4.6m | 121,863 | 52% | added | |
| 13 | UFI UNIFI INC | Consumer Cyclical | 2.9% | $4.3m | 1,222,420 | 6% | added |
| 14 | CAC CAMDEN NATL CORP | 2.6% | $3.9m | 89,568 | 0% | held | |
| 15 | PATHFINDER BANCORP INC MD | 2.5% | $3.7m | 262,204 | 0% | held | |
| 16 | CRD/B CRAWFORD & CO | 2.1% | $3.1m | 288,178 | -0% | held | |
| 17 | RAIL FREIGHTCAR AMER INC | 2.0% | $3.0m | 267,046 | 3% | added | |
| 18 | SIF SIFCO INDS INC | 1.8% | $2.7m | 488,984 | 5% | added | |
| 19 | FSTR FOSTER L B CO | Industrials | 1.5% | $2.3m | 83,965 | 0% | held |
| 20 | CTGO CONTANGO ORE INC | 1.3% | $2.0m | 76,147 | 0% | held | |
| 21 | NODK NI HLDGS INC | 1.2% | $1.7m | 129,900 | 0% | held | |
| 22 | MPB MID PENN BANCORP INC | 1.1% | $1.7m | 54,177 | 0% | held | |
| 23 | CFG CITIZENS FINL GROUP INC | Financial Services | 0.8% | $1.3m | 21,485 | 0% | held |
| 24 | EBC EASTERN BANKSHARES INC | Financial Services | 0.8% | $1.2m | 62,576 | – | new |
| 25 | FNB F N B CORP | Financial Services | 0.7% | $1.1m | 64,075 | 0% | held |
| 26 | DORM DORMAN PRODS INC | Consumer Cyclical | 0.7% | $1.1m | 8,590 | 0% | held |
| 27 | UIS UNISYS CORP | Technology | 0.6% | $953.2k | 345,347 | 0% | held |
| 28 | DGICA DONEGAL GROUP INC | 0.6% | $928.9k | 46,490 | 0% | held | |
| 29 | THRY THRYV HLDGS INC | 0.6% | $897.4k | 148,329 | -27% | reduced | |
| 30 | ECBK ECB BANCORP INC | 0.6% | $868.5k | 49,940 | 0% | held | |
| 31 | CZNC CITIZENS & NORTHN CORP | 0.6% | $865.3k | 42,900 | 0% | held | |
| 32 | CPBI CENTRAL PLAINS BANCSHARES IN | 0.6% | $831.1k | 49,117 | 0% | held | |
| 33 | USLM UNITED STS LIME & MINERALS I | Basic Materials | 0.5% | $748.4k | 6,250 | 0% | held |
| 34 | MARATHON BANCORP INC | 0.5% | $717.1k | 58,976 | 0% | held | |
| 35 | FRBA FIRST BK WILLIAMSTOWN NEW JE | 0.5% | $677.2k | 41,143 | 0% | held | |
| 36 | FMC FMC CORP | Basic Materials | 0.4% | $665.8k | 48,000 | – | new |
| 37 | LSBK LAKE SHORE BANCORP INC | 0.4% | $648.8k | 44,259 | 0% | held | |
| 38 | HBNC HORIZON BANCORP INC | Financial Services | 0.4% | $594.5k | 35,052 | 0% | held |
| 39 | SSB SOUTHSTATE BK CORP | 0.4% | $532.8k | 5,661 | 0% | held | |
| 40 | COLUMBIA FINL INC | 0.4% | $525.2k | 33,794 | 0% | held | |
| 41 | FSFG FIRST SVGS FINL GROUP INC | 0.3% | $516.8k | 16,221 | 0% | held | |
| 42 | KELYA KELLY SVCS INC | 0.3% | $513.9k | 58,400 | 46% | added | |
| 43 | ACNT ASCENT INDUSTRIES CO | Basic Materials | 0.3% | $492.4k | 30,415 | 0% | held |
| 44 | NWBI NORTHWEST BANCSHARES INC MD | Financial Services | 0.3% | $456.0k | 38,000 | 0% | held |
| 45 | CITIZENS FINL SVCS INC | 0.3% | $449.4k | 7,881 | 0% | held | |
| 46 | PBBK PB BANKSHARES INC | 0.3% | $434.8k | 20,560 | 0% | held | |
| 47 | FCF FIRST COMWLTH FINL CORP PA | Financial Services | 0.3% | $430.9k | 25,560 | 0% | held |
| 48 | RMBI RICHMOND MUT BANCORPORATION | 0.3% | $424.3k | 30,224 | 1% | added | |
| 49 | EBMT EAGLE BANCORP MONT INC | 0.3% | $419.9k | 21,098 | 0% | held | |
| 50 | PRA PROASSURANCE CORP | 0.3% | $416.4k | 17,234 | 0% | held |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.