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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
+10.47%
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
$161M
AUM Growth
+$11.2M
Cap. Flow
-$7.19M
Cap. Flow %
-4.46%
Top 10 Hldgs %
49.03%
Holding
86
New
1
Increased
14
Reduced
11
Closed
4

Top Buys

Rank Stock Value
1
MASC
MATERIAL SCIENCES CORP
MASC
+$1.24M
2
APAGF
APCO OIL AND GAS INTERNATIONAL INC
APAGF
+$855K
3
RLOG
Rand Logistics, Inc.
RLOG
+$670K
4
THRD
TF FINANCIAL CORP COM STK (PA)
THRD
+$362K
5
ROMA
ROMA FINANCIAL CORPORATION COM STK
ROMA
+$338K

Top Sells

Rank Stock Value
1
KS
KapStone Paper and Pack Corp.
KS
+$5.11M
2
ISBC
Investors Bancorp, Inc.
ISBC
+$2.18M
3
TVL
LIN TV CORP
TVL
+$1.13M
4
DORM icon
Dorman Products
DORM
+$1.01M
5
CCF
Chase Corporation
CCF
+$517K

Sector Composition

Rank Sector Weight
1 Industrials 27.68%
2 Materials 14.93%
3 Communication Services 14.27%
4 Financials 10.27%
5 Consumer Discretionary 5.16%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NWFL icon
51
Norwood Financial Corp
NWFL
$370M
$415K 0.26%
22,106
– –
BCSB
52
DELISTED
BCSB BANCORP INC COM STK
BCSB
$391K 0.24%
16,106
– –
DGICB
53
Donegal Group Class B
DGICB
$830M
$389K 0.24%
21,506
– –
OFED
54
DELISTED
Oconee Federal Financial Corp.
OFED
$378K 0.23%
22,902
– –
LIN
55
DELISTED
LIN MEDIA LLC CLASS A COM
LIN
$377K 0.23%
+18,570
New +$311K
EMCF
56
DELISTED
Emclaire Financial Corp
EMCF
$370K 0.23%
15,359
– –
DGICA icon
57
Donegal Group Class A
DGICA
$731M
$352K 0.22%
25,143
– –
CZNC icon
58
Citizens & Northern Corp
CZNC
$456M
$327K 0.2%
16,400
– –
LSBK icon
59
Lake Shore Bancorp
LSBK
$135M
$327K 0.2%
28,709
+13,208
+85% +$153K
MTSL
60
DELISTED
MER TELEMANAGEMENT SOLUTNS LTD
MTSL
$298K 0.18%
177,183
+23,341
+15% +$39.3K
EBMT icon
61
Eagle Bancorp Montana
EBMT
$187M
$274K 0.17%
25,598
– –
BNCL
62
DELISTED
Beneficial Bancorp, Inc.
BNCL
$274K 0.17%
30,232
+2,827
+10% +$23.5K
ISBC
63
DELISTED
Investors Bancorp, Inc.
ISBC
$243K 0.15%
28,332
-254,900
-90% -$2.18M
SGC icon
64
Superior Group of Companies
SGC
$185M
$241K 0.15%
38,600
– –
KOSS icon
65
Koss Corp
KOSS
$34.8M
$227K 0.14%
44,494
+4,014
+10% +$20.7K
SIF icon
66
SIFCO Industries
SIF
$161M
$219K 0.14%
12,000
– –
PBCT
67
DELISTED
People's United Financial Inc
PBCT
$209K 0.13%
14,518
– –
MCP
68
DELISTED
MOLYCORP INC COM STK
MCP
$204K 0.13%
31,134
– –
CITZ
69
DELISTED
CFS BANCORP INC
CITZ
$204K 0.13%
18,400
– –
ASRV icon
70
AmeriServ Financial
ASRV
$77.5M
$165K 0.1%
52,200
– –
MAMS
71
DELISTED
MAM Software Group Inc. New
MAMS
$164K 0.1%
41,113
– –
CMSB
72
DELISTED
CMS BANCORP, INC. COM
CMSB
$162K 0.1%
19,775
– –
AEHR icon
73
Aehr Test Systems
AEHR
$2.61B
$137K 0.08%
58,702
– –
BZC
74
DELISTED
BREEZE-EASTERN CORPORATION COM
BZC
$127K 0.08%
13,000
– –
PSBH
75
DELISTED
PSB HOLDINGS INC
PSBH
$91K 0.06%
14,642
+1,100
+8% +$6.84K
1 2
3
4

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Minerva Advisors's Q3 2013 Portfolio in Review

As of Q3 2013, Minerva Advisors held 86 positions worth $161M, up 7.5% from $150M the previous quarter. Its ten largest holdings account for 49% of the portfolio.

Minerva Advisors withdrew a net $7.19M in Q3 2013, closing 4 positions and reducing 11 holdings. Its most notable exit was LIN TV CORP, an estimated $1.13M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 28% of assets, up from 25% a quarter earlier, followed by Materials and Communication Services.

Against the trend, Minerva Advisors opened a new position in LIN MEDIA LLC CLASS A COM worth $377K.

  • Minerva Advisors's largest Q3 2013 buy was LIN MEDIA LLC CLASS A COM: 18,570 shares worth $377K.
  • Minerva Advisors added most to MATERIAL SCIENCES CORP in Q3 2013, an estimated $1.24M increase.
  • Minerva Advisors's biggest Q3 2013 reduction was KapStone Paper and Pack Corp., cutting an estimated $5.11M.
  • Minerva Advisors fully exited LIN TV CORP in Q3 2013, selling an estimated $1.13M.
  • Minerva Advisors's ten largest holdings make up 49% of its $161M portfolio in Q3 2013.
  • Minerva Advisors opened 1 new position and closed 4 in Q3 2013.
  • Minerva Advisors's portfolio value rose 7.5% quarter-over-quarter to $161M.

Based on Minerva Advisors's 13F filing for Q3 2013, filed 12 Nov 2013.