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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
-0.7%
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
$180M
AUM Growth
-$4.55M
Cap. Flow
+$270K
Cap. Flow %
0.15%
Top 10 Hldgs %
54.77%
Holding
87
New
2
Increased
7
Reduced
53
Closed
1

Top Buys

Rank Stock Value
1
RAIL icon
FreightCar America
RAIL
+$715K
2
AE
Adams Resources & Energy Inc
AE
+$693K
3
RMBI icon
Richmond Mutual Bancorp
RMBI
+$401K
4
KEQU icon
Kewaunee Scientific
KEQU
+$224K
5
SGA icon
Saga Communications
SGA
+$138K

Top Sells

Rank Stock Value
1
STFC
State Auto Financial Corp
STFC
+$298K
2
GLDD
Great Lakes Dredge & Dock
GLDD
+$189K
3
USLM icon
United States Lime & Minerals
USLM
+$150K
4
CAC icon
Camden National
CAC
+$144K
5
LGL icon
LGL Group
LGL
+$112K

Sector Composition

Rank Sector Weight
1 Industrials 33.82%
2 Financials 20.1%
3 Materials 11.49%
4 Communication Services 9.86%
5 Healthcare 7.39%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
KURA icon
26
Kura Oncology
KURA
$800M
$1.31M 0.73%
86,087
-2,292
-3% -$40.8K
ACNT icon
27
Ascent Industries
ACNT
$140M
$1.3M 0.72%
81,723
-632
-0.8% -$10.1K
MPB icon
28
Mid Penn Bancorp
MPB
$971M
$1.25M 0.7%
49,034
-603
-1% -$15.1K
NWBI icon
29
Northwest Bancshares
NWBI
$2.3B
$1.16M 0.65%
71,085
-2,540
-3% -$42.4K
CZNC icon
30
Citizens & Northern Corp
CZNC
$456M
$1.12M 0.63%
42,900
– –
FNB icon
31
FNB Corp
FNB
$6.73B
$1.11M 0.62%
95,945
-603
-0.6% -$6.82K
PRA
32
DELISTED
ProAssurance
PRA
$1.09M 0.61%
27,188
-596
-2% -$23.1K
ISBC
33
DELISTED
Investors Bancorp, Inc.
ISBC
$1.05M 0.59%
92,701
– –
RAIL icon
34
FreightCar America
RAIL
$261M
$1.05M 0.58%
215,990
+142,946
+196% +$715K
CECO icon
35
Ceco Environmental
CECO
$3.85B
$1.04M 0.58%
148,829
– –
ATRO icon
36
Astronics
ATRO
$3.43B
$1M 0.56%
41,000
-576
-1% -$15.5K
CBU icon
37
Community Bank
CBU
$3.41B
$1M 0.56%
16,226
-573
-3% -$36.2K
AE
38
DELISTED
Adams Resources & Energy Inc
AE
$983K 0.55%
31,693
+21,867
+223% +$693K
MLVF
39
DELISTED
Malvern Bancorp, Inc.
MLVF
$978K 0.54%
44,781
– –
MFSF
40
DELISTED
MutualFirst Financial Inc
MFSF
$930K 0.52%
29,500
-1,426
-5% -$45.3K
VRS
41
DELISTED
Verso Corporation
VRS
$845K 0.47%
68,300
– –
DWSN icon
42
Dawson Geophysical
DWSN
$145M
$840K 0.47%
397,763
– –
VBFC
43
DELISTED
Village Bank and Trust Financial Corp.
VBFC
$798K 0.44%
23,245
– –
HBNC icon
44
Horizon Bancorp
HBNC
$1.04B
$772K 0.43%
44,424
-264
-0.6% -$4.39K
LGL icon
45
LGL Group
LGL
$45.2M
$706K 0.39%
181,858
-32,633
-15% -$112K
RIVE
46
DELISTED
Riverview Financial Corporation Common Stock
RIVE
$691K 0.38%
62,522
-491
-0.8% -$5.21K
ALR
47
DELISTED
AlerisLife Inc
ALR
$597K 0.33%
132,371
– –
CUO
48
DELISTED
Continental Materials Corporation
CUO
$582K 0.32%
38,662
-178
-0.5% -$2.75K
SIF icon
49
SIFCO Industries
SIF
$161M
$560K 0.31%
206,823
-1,156
-0.6% -$3.27K
CLBK icon
50
Columbia Financial
CLBK
$1.12B
$534K 0.3%
33,794
– –
1
2
3 4

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Minerva Advisors's Q3 2019 Portfolio in Review

As of Q3 2019, Minerva Advisors held 87 positions worth $180M, down 2.5% from $184M the previous quarter. Its ten largest holdings account for 55% of the portfolio.

Trading was light in Q3 2019: portfolio turnover was 3.4%. Minerva Advisors opened 2 new positions and exited 1, leaving the 87-position portfolio largely intact.

By sector, the portfolio is most concentrated in Industrials at 34% of assets, down from 34% a quarter earlier, followed by Financials and Materials.

  • Minerva Advisors's largest Q3 2019 buy was Richmond Mutual Bancorp: 30,000 shares worth $420K.
  • Minerva Advisors added most to FreightCar America in Q3 2019, an estimated $715K increase.
  • Minerva Advisors's biggest Q3 2019 reduction was State Auto Financial Corp, cutting an estimated $298K.
  • Minerva Advisors fully exited CSS Industries, Inc. in Q3 2019, selling an estimated $69K.
  • Minerva Advisors's ten largest holdings make up 55% of its $180M portfolio in Q3 2019.
  • Minerva Advisors opened 2 new positions and closed 1 in Q3 2019.
  • Minerva Advisors's portfolio value fell 2.5% quarter-over-quarter to $180M.

Based on Minerva Advisors's 13F filing for Q3 2019, filed 14 Nov 2019.