Minerva reports 5.3% InfuSystem (INFU) stake in Schedule 13G/A

Rhea-AI Filing Summary

Minerva Advisors LLC and related entities report owning 1,078,731 shares of InfuSystem Holdings common stock, representing 5.3% of the company’s outstanding shares. The ownership is reported on a Schedule 13G/A as of 12/31/2025 and is based on 20,336,183 shares outstanding as of October 31, 2025.

The stake is held across Minerva Advisors LLC, Minerva Group, LP, Minerva GP, LP, Minerva GP, Inc., and David P. Cohen, with 764,517 shares held by Minerva Group, LP. The filers certify the securities are not held for the purpose of changing or influencing control, other than activities solely in connection with a nomination under Rule 14a-11.

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Accepted by SEC EDGAR 02/17/2026 - 02:20 PM Learn about SEC filing dates

FAQ

What stake in InfuSystem Holdings (INFU) does Minerva report on this Schedule 13G/A?

Minerva Advisors LLC and related entities report beneficial ownership of 1,078,731 InfuSystem common shares, equal to 5.3% of the outstanding stock, based on 20,336,183 shares outstanding as of October 31, 2025, as disclosed in InfuSystem’s Form 10-Q.

Which Minerva entities are listed as reporting persons for InfuSystem (INFU)?

The filing lists five reporting persons: Minerva Advisors LLC, Minerva Group, LP, Minerva GP, LP, Minerva GP, Inc., and individual David P. Cohen. Each is deemed a beneficial owner of 764,517 shares held by Minerva Group, LP, with Minerva Advisors and Cohen each reporting 1,078,731 shares.

How much of InfuSystem’s (INFU) stock does each Minerva entity beneficially own?

Minerva Advisors LLC and David P. Cohen each report beneficial ownership of 1,078,731 shares, or 5.3% of InfuSystem’s common stock. Minerva Group, LP, Minerva GP, LP, and Minerva GP, Inc. each report 764,517 shares, or 3.8% of the outstanding common stock, all tied to Minerva Group’s holdings.

What voting and dispositive powers over InfuSystem (INFU) shares does Minerva report?

The filing states 764,517 shares with sole voting and dispositive power for Minerva Group, LP and related entities. Minerva Advisors LLC and David P. Cohen also report shared voting and dispositive power over 314,214 shares, reflecting additional shares beneficially owned through Minerva Advisors LLC.

Is Minerva’s InfuSystem (INFU) stake intended to change control of the company?

The certification states the securities were not acquired and are not held for the purpose of changing or influencing control of InfuSystem. It notes an exception only for activities solely in connection with a nomination under Rule 240.14a-11, consistent with a passive investment filing on Schedule 13G.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

InfuSystem Holdings, Inc.

(Name of Issuer)

Common Stock, $0.0001 Par Value

(Title of Class of Securities)

45685K102

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 45685K102

1

Names of Reporting Persons

Minerva Advisors LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 764,517.00
6	Shared Voting Power 314,214.00
7	Sole Dispositive Power 764,517.00
8	Shared Dispositive Power 314,214.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,078,731.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.3 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. 45685K102

1

Names of Reporting Persons

MINERVA GROUP LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 764,517.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 764,517.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

764,517.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

3.8 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No. 45685K102

1

Names of Reporting Persons

MINERVA GP, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 764,517.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 764,517.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

764,517.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

3.8 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No. 45685K102

1

Names of Reporting Persons

MINERVA GP, INC.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

PENNSYLVANIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 764,517.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 764,517.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

764,517.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

3.8 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

CUSIP No. 45685K102

1

Names of Reporting Persons

COHEN DAVID P

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 764,517.00
6	Shared Voting Power 314,214.00
7	Sole Dispositive Power 764,517.00
8	Shared Dispositive Power 314,214.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,078,731.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.3 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: InfuSystem Holdings, Inc.
(b)	Address of issuer's principal executive offices: 3851 WEST HAMLIN ROAD, ROCHESTER HILLS, MI, 48309
Item 2.
(a)	Name of person filing: Minerva Advisors LLC Minerva Group, LP Minerva GP, LP Minerva GP, Inc. David P. Cohen
(b)	Address or principal business office or, if none, residence: 50 Monument Road, Suite 201 Bala Cynwyd, PA 19004
(c)	Citizenship: David P. Cohen is a U.S. Citizen. Minerva Advisors LLC, Minerva Group, LP, and Minerva GP, LP are organized under Delaware law. Minerva GP, Inc. is organized under Pennsylvania law.
(d)	Title of class of securities: Common Stock, $0.0001 Par Value
(e)	CUSIP No.: 45685K102
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: Minerva Advisors LLC* - 1,078,731 Minerva Group, LP - 764,517 Minerva GP, LP* - 764,517 Minerva GP, Inc.* - 764,517 David P. Cohen* - 1,078,731 *Each of these reporting persons is deemed a beneficial owner of the 764,517 shares of the Issuer held by Minerva Group, LP. David P. Cohen is also deemed a beneficial owner of the 1,078,731 shares of the Issuer beneficially owned by Minerva Advisors LLC.
(b)	Percent of class: Minerva Advisors LLC* - 5.3% Minerva Group, LP - 3.8% Minerva GP, LP* - 3.8% Minerva GP, Inc.* - 3.8% David P. Cohen* - 5.3% *Each of these reporting persons is deemed a beneficial owner of the 3.8% of the shares of the Issuer held by Minerva Group, LP. David P. Cohen is also deemed a beneficial owner of the 5.3% of the shares of the Issuer beneficially owned by Minerva Advisors LLC. Based on a total of 20,336,183 shares of the Issuer's Common Stock outstanding as of October 31, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q for the period ended September 30, 2025.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Minerva Advisors LLC* - 764,517 Minerva Group, LP - 764,517 Minerva GP, LP* - 764,517 Minerva GP, Inc.* - 764,517 David P. Cohen* - 764,517 *Each of these reporting persons is deemed a beneficial owner of the 764,517 shares of the Issuer held by Minerva Group, LP.
	(ii) Shared power to vote or to direct the vote: Minerva Advisors LLC - 314,214 David P. Cohen** - 314,214 **David P. Cohen is deemed a beneficial owner of the 314,214 shares of the Issuer beneficially owned by Minerva Advisors LLC.
	(iii) Sole power to dispose or to direct the disposition of: Minerva Advisors LLC* - 764,517 Minerva Group, LP - 764,517 Minerva GP, LP* - 764,517 Minerva GP, Inc.* - 764,517 David P. Cohen* - 764,517 *Each of these reporting persons is deemed a beneficial owner of the 764,517 shares of the Issuer held by Minerva Group, LP.
	(iv) Shared power to dispose or to direct the disposition of: Minerva Advisors LLC - 314,214 David P. Cohen** - 314,214 **David P. Cohen is deemed a beneficial owner of the 314,214 shares of the Issuer beneficially owned by Minerva Advisors LLC.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Minerva Advisors LLC

Signature:	David P. Cohen
Name/Title:	President
Date:	02/17/2026

MINERVA GROUP LP

Signature:	David P. Cohen
Name/Title:	Managing Partner
Date:	02/17/2026

MINERVA GP, LP

Signature:	David P. Cohen
Name/Title:	General Partner
Date:	02/17/2026

MINERVA GP, INC.

Signature:	David P. Cohen
Name/Title:	President
Date:	02/17/2026

COHEN DAVID P

Signature:	David P. Cohen
Name/Title:	Individual
Date:	02/17/2026