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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
-13.27%
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
$156M
AUM Growth
-$39.2M
Cap. Flow
-$10.7M
Cap. Flow %
-6.84%
Top 10 Hldgs %
54.1%
Holding
83
New
4
Increased
13
Reduced
9
Closed
1

Top Buys

Rank Stock Value
1
ALR
AlerisLife Inc
ALR
+$794K
2
RIVE
Riverview Financial Corporation Common Stock
RIVE
+$705K
3
CLBK icon
Columbia Financial
CLBK
+$529K
4
PBHC icon
Pathfinder Bancorp
PBHC
+$477K
5
SGA icon
Saga Communications
SGA
+$476K

Top Sells

Rank Stock Value
1
KS
KapStone Paper and Pack Corp.
KS
+$14.2M
2
SAEX
SAExploration Holdings, Inc.
SAEX
+$234K
3
ATRO icon
Astronics
ATRO
+$164K
4
STFC
State Auto Financial Corp
STFC
+$135K
5
AUD
Audacy, Inc.
AUD
+$68.6K

Sector Composition

Rank Sector Weight
1 Industrials 31.31%
2 Financials 21.53%
3 Communication Services 12.33%
4 Materials 11.57%
5 Consumer Discretionary 7.44%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DLX icon
26
Deluxe
DLX
$1.18B
$1.32M 0.84%
34,300
– –
NWBI icon
27
Northwest Bancshares
NWBI
$2.3B
$1.25M 0.8%
73,625
– –
KURA icon
28
Kura Oncology
KURA
$800M
$1.24M 0.8%
88,619
– –
PRA
29
DELISTED
ProAssurance
PRA
$1.15M 0.74%
28,358
– –
CZNC icon
30
Citizens & Northern Corp
CZNC
$456M
$1.13M 0.72%
42,900
– –
MPB icon
31
Mid Penn Bancorp
MPB
$971M
$1.13M 0.72%
49,637
– –
ATRO icon
32
Astronics
ATRO
$3.43B
$1.05M 0.67%
41,576
-6,237
-13% -$164K
CECO icon
33
Ceco Environmental
CECO
$3.85B
$1.01M 0.65%
150,229
-693
-0.5% -$5.31K
CBU icon
34
Community Bank
CBU
$3.41B
$978K 0.63%
16,772
– –
ISBC
35
DELISTED
Investors Bancorp, Inc.
ISBC
$963K 0.62%
92,701
– –
FNB icon
36
FNB Corp
FNB
$6.73B
$950K 0.61%
96,548
– –
EEI
37
DELISTED
Ecology and Environment
EEI
$945K 0.6%
83,167
+800
+1% +$9.61K
MLVF
38
DELISTED
Malvern Bancorp, Inc.
MLVF
$884K 0.57%
44,781
– –
MFSF
39
DELISTED
MutualFirst Financial Inc
MFSF
$818K 0.52%
30,926
– –
HBNC icon
40
Horizon Bancorp
HBNC
$1.04B
$706K 0.45%
44,724
– –
TFC icon
41
Truist Financial
TFC
$63.3B
$701K 0.45%
16,170
– –
SIF icon
42
SIFCO Industries
SIF
$161M
$684K 0.44%
198,253
+15,589
+9% +$70K
STFC
43
DELISTED
State Auto Financial Corp
STFC
$649K 0.41%
19,023
-4,150
-18% -$135K
ALR
44
DELISTED
AlerisLife Inc
ALR
$622K 0.4%
137,608
+135,608
+6,780% +$794K
VBFC
45
DELISTED
Village Bank and Trust Financial Corp.
VBFC
$621K 0.4%
21,047
– –
RIVE
46
DELISTED
Riverview Financial Corporation Common Stock
RIVE
$591K 0.38%
+54,213
New +$705K
OFED
47
DELISTED
Oconee Federal Financial Corp.
OFED
$538K 0.34%
22,902
– –
NWFL icon
48
Norwood Financial Corp
NWFL
$370M
$521K 0.33%
15,811
– –
CLBK icon
49
Columbia Financial
CLBK
$1.12B
$517K 0.33%
+33,794
New +$529K
ASRV icon
50
AmeriServ Financial
ASRV
$77.5M
$516K 0.33%
128,000
– –
1
2
3 4

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OL
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TL
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AF
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MLIM
Mountain Lake Investment Management Boca Raton, Florida $155M AUM 38.76% 1-Year Est. Return
ALAM
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LWM
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RPGNY
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DWM
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Minerva Advisors's Q4 2018 Portfolio in Review

As of Q4 2018, Minerva Advisors held 83 positions worth $156M, down 20% from $196M the previous quarter. Its ten largest holdings account for 54% of the portfolio.

Minerva Advisors withdrew a net $10.7M in Q4 2018, closing 1 position and reducing 9 holdings. Its most notable exit was KapStone Paper and Pack Corp., an estimated $14.2M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 31% of assets, up from 29% a quarter earlier, followed by Financials and Communication Services.

Against the trend, Minerva Advisors opened a new position in Riverview Financial Corporation Common Stock worth $591K.

  • Minerva Advisors's largest Q4 2018 buy was Riverview Financial Corporation Common Stock: 54,213 shares worth $591K.
  • Minerva Advisors added most to AlerisLife Inc in Q4 2018, an estimated $794K increase.
  • Minerva Advisors's biggest Q4 2018 reduction was SAExploration Holdings, Inc., cutting an estimated $234K.
  • Minerva Advisors fully exited KapStone Paper and Pack Corp. in Q4 2018, selling an estimated $14.2M.
  • Minerva Advisors's ten largest holdings make up 54% of its $156M portfolio in Q4 2018.
  • Minerva Advisors opened 4 new positions and closed 1 in Q4 2018.
  • Minerva Advisors's portfolio value fell 20% quarter-over-quarter to $156M.

Based on Minerva Advisors's 13F filing for Q4 2018, filed 6 Feb 2019.