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Minerva Advisors Portfolio holdings

AUM $155M
1-Year Est. Return 35.49%
This Fund
S&P 500
This Quarter Est. Return
-12.34%
1 Year Est. Return
+35.49%
3 Year Est. Return
+149.41%
5 Year Est. Return
+142.03%
10 Year Est. Return
+662.71%
AUM
$141M
AUM Growth
-$22.8M
Cap. Flow
+$1.81M
Cap. Flow %
1.28%
Top 10 Hldgs %
51.21%
Holding
76
New
4
Increased
10
Reduced
6
Closed
2

Top Buys

Rank Stock Value
1
CECO icon
Ceco Environmental
CECO
+$1.98M
2
SGA icon
Saga Communications
SGA
+$1.2M
3
RLOG
Rand Logistics, Inc.
RLOG
+$1.18M
4
NVGS icon
Navigator Holdings
NVGS
+$831K
5
USAP
Universal Stainless & Alloy
USAP
+$697K

Top Sells

Rank Stock Value
1
PMFG
PMFG INC COM STK (DE)
PMFG
+$5.19M
2
ATRI
Atrion Corp
ATRI
+$748K
3
STFC
State Auto Financial Corp
STFC
+$256K
4
EML icon
Eastern Company
EML
+$76.8K
5
ASXC
Asensus Surgical, Inc.
ASXC
+$55K

Sector Composition

Rank Sector Weight
1 Industrials 29.81%
2 Financials 17.96%
3 Communication Services 12.95%
4 Materials 11.11%
5 Consumer Discretionary 7.75%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ASML icon
26
ASML
ASML
$635B
$1.55M 1.1%
17,664
– –
NPBC
27
DELISTED
NATL PENN BANCSHARES INC
NPBC
$1.52M 1.08%
129,436
– –
IBKC
28
DELISTED
IBERIABANK Corp
IBKC
$1.51M 1.07%
25,912
– –
CNBKA
29
DELISTED
Century Bancorp Inc/Mass
CNBKA
$1.47M 1.05%
36,113
– –
PRA
30
DELISTED
ProAssurance
PRA
$1.39M 0.99%
28,358
– –
ATRO icon
31
Astronics
ATRO
$3.44B
$1.35M 0.96%
61,119
– –
TCF
32
DELISTED
TCF Financial Corporation Common Stock
TCF
$1.35M 0.96%
41,735
– –
FSTR icon
33
Foster
FSTR
$434M
$1.3M 0.93%
106,132
– –
DWSN icon
34
Dawson Geophysical
DWSN
$147M
$1.25M 0.89%
345,095
– –
FNB icon
35
FNB Corp
FNB
$6.74B
$1.25M 0.89%
96,546
– –
ISBC
36
DELISTED
Investors Bancorp, Inc.
ISBC
$1.14M 0.81%
92,701
– –
STFC
37
DELISTED
State Auto Financial Corp
STFC
$1.01M 0.72%
44,458
-10,480
-19% -$256K
NWBI icon
38
Northwest Bancshares
NWBI
$2.3B
$955K 0.68%
73,625
– –
JMG
39
DELISTED
JOURNAL MEDIA GROUP INC COM
JMG
$853K 0.61%
113,686
– –
USAP
40
DELISTED
Universal Stainless & Alloy
USAP
$852K 0.61%
81,190
+51,490
+173% +$697K
CZNC icon
41
Citizens & Northern Corp
CZNC
$455M
$837K 0.59%
42,900
– –
EEI
42
DELISTED
Ecology and Environment
EEI
$816K 0.58%
70,874
– –
JXSB
43
DELISTED
Jacksonville Bancorp Inc
JXSB
$740K 0.53%
31,145
– –
MFSF
44
DELISTED
MutualFirst Financial Inc
MFSF
$715K 0.51%
30,926
– –
AP icon
45
Ampco-Pittsburgh
AP
$166M
$654K 0.46%
59,971
– –
CBU icon
46
Community Bank
CBU
$3.41B
$518K 0.37%
13,938
– –
HBNC icon
47
Horizon Bancorp
HBNC
$1.05B
$471K 0.33%
+44,728
New +$489K
VBFC
48
DELISTED
Village Bank and Trust Financial Corp.
VBFC
$433K 0.31%
21,037
– –
PWX
49
DELISTED
Providence & Worcester Railroad Company
PWX
$418K 0.3%
27,000
– –
NWFL icon
50
Norwood Financial Corp
NWFL
$367M
$417K 0.3%
22,106
– –
1
2
3

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Minerva Advisors's Q3 2015 Portfolio in Review

As of Q3 2015, Minerva Advisors held 76 positions worth $141M, down 14% from $164M the previous quarter. Its ten largest holdings account for 51% of the portfolio.

Minerva Advisors's Q3 2015 filing shows 4 new, 10 increased, 6 reduced and 2 closed positions. Its largest new stake was Ceco Environmental: 211,212 shares worth $1.73M. The largest sale was PMFG INC COM STK (DE), an estimated $5.19M.

By sector, the portfolio is most concentrated in Industrials at 30% of assets, up from 29% a quarter earlier, followed by Financials and Communication Services.

  • Minerva Advisors's largest Q3 2015 buy was Ceco Environmental: 211,212 shares worth $1.73M.
  • Minerva Advisors added most to Saga Communications in Q3 2015, an estimated $1.2M increase.
  • Minerva Advisors's biggest Q3 2015 reduction was Atrion Corp, cutting an estimated $748K.
  • Minerva Advisors fully exited PMFG INC COM STK (DE) in Q3 2015, selling an estimated $5.19M.
  • Minerva Advisors's ten largest holdings make up 51% of its $141M portfolio in Q3 2015.
  • Minerva Advisors opened 4 new positions and closed 2 in Q3 2015.
  • Minerva Advisors's portfolio value fell 14% quarter-over-quarter to $141M.

Based on Minerva Advisors's 13F filing for Q3 2015, filed 12 Nov 2015.