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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
+3.18%
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
$169M
AUM Growth
-$3.92M
Cap. Flow
-$7.06M
Cap. Flow %
-4.18%
Top 10 Hldgs %
52.42%
Holding
81
New
6
Increased
7
Reduced
5
Closed
2

Top Buys

Rank Stock Value
1
WSBF icon
Waterstone Financial
WSBF
+$1.49M
2
FNB icon
FNB Corp
FNB
+$418K
3
FRME icon
First Merchants
FRME
+$254K
4
GLDD
Great Lakes Dredge & Dock
GLDD
+$170K
5
HNRG icon
Hallador Energy
HNRG
+$159K

Top Sells

Rank Stock Value
1
MASC
MATERIAL SCIENCES CORP
MASC
+$2.98M
2
ATRO icon
Astronics
ATRO
+$1.96M
3
KS
KapStone Paper and Pack Corp.
KS
+$1.24M
4
BCSB
BCSB BANCORP INC COM STK
BCSB
+$420K
5
AGX icon
Argan
AGX
+$273K

Sector Composition

Rank Sector Weight
1 Industrials 27.13%
2 Materials 15.87%
3 Financials 12.32%
4 Communication Services 11.83%
5 Consumer Discretionary 6.34%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FNB icon
51
FNB Corp
FNB
$6.74B
$448K 0.27%
+33,498
New +$418K
MTSL
52
DELISTED
MER TELEMANAGEMENT SOLUTNS LTD
MTSL
$434K 0.26%
177,183
– –
NWFL icon
53
Norwood Financial Corp
NWFL
$367M
$412K 0.24%
22,106
– –
OFED
54
DELISTED
Oconee Federal Financial Corp.
OFED
$398K 0.24%
22,902
– –
EMCF
55
DELISTED
Emclaire Financial Corp
EMCF
$384K 0.23%
15,359
– –
DGICA icon
56
Donegal Group Class A
DGICA
$719M
$364K 0.22%
25,143
– –
BNCL
57
DELISTED
Beneficial Bancorp, Inc.
BNCL
$363K 0.22%
30,232
– –
LSBK icon
58
Lake Shore Bancorp
LSBK
$135M
$354K 0.21%
28,893
+184
+0.6% +$2.27K
CZNC icon
59
Citizens & Northern Corp
CZNC
$455M
$323K 0.19%
16,400
– –
EBMT icon
60
Eagle Bancorp Montana
EBMT
$186M
$286K 0.17%
25,598
– –
SGC icon
61
Superior Group of Companies
SGC
$188M
$283K 0.17%
38,600
– –
FRME icon
62
First Merchants
FRME
$2.69B
$258K 0.15%
+11,960
New +$254K
MAMS
63
DELISTED
MAM Software Group Inc. New
MAMS
$230K 0.14%
41,113
– –
PBCT
64
DELISTED
People's United Financial Inc
PBCT
$216K 0.13%
14,518
– –
KOSS icon
65
Koss Corp
KOSS
$35.1M
$212K 0.13%
44,494
– –
ASRV icon
66
AmeriServ Financial
ASRV
$76.8M
$199K 0.12%
52,200
– –
CMSB
67
DELISTED
CMS BANCORP, INC. COM
CMSB
$187K 0.11%
19,775
– –
AEHR icon
68
Aehr Test Systems
AEHR
$2.63B
$168K 0.1%
58,702
– –
HNRG icon
69
Hallador Energy
HNRG
$681M
$165K 0.1%
+19,420
New +$159K
MCP
70
DELISTED
MOLYCORP INC COM STK
MCP
$146K 0.09%
31,134
– –
BZC
71
DELISTED
BREEZE-EASTERN CORPORATION COM
BZC
$128K 0.08%
13,000
– –
PSBH
72
DELISTED
PSB HOLDINGS INC
PSBH
$98K 0.06%
14,642
– –
IDXG
73
DELISTED
Interpace Biosciences, Inc. Common Stock
IDXG
$46K 0.03%
+101
New +$52.5K
MOC
74
DELISTED
Command Security Corporation
MOC
$45K 0.03%
+25,750
New +$52.3K
FLNT
75
Fluent
FLNT
$103M
$40K 0.02%
993
– –
1 2
3
4

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Minerva Advisors's Q1 2014 Portfolio in Review

As of Q1 2014, Minerva Advisors held 81 positions worth $169M, down 2.3% from $173M the previous quarter. Its ten largest holdings account for 52% of the portfolio.

Minerva Advisors withdrew a net $7.06M in Q1 2014, closing 2 positions and reducing 5 holdings. Its most notable exit was MATERIAL SCIENCES CORP, an estimated $2.98M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 27% of assets, down from 28% a quarter earlier, followed by Materials and Financials.

Against the trend, Minerva Advisors opened a new position in Waterstone Financial worth $1.48M.

  • Minerva Advisors's largest Q1 2014 buy was Waterstone Financial: 142,000 shares worth $1.48M.
  • Minerva Advisors added most to Great Lakes Dredge & Dock in Q1 2014, an estimated $170K increase.
  • Minerva Advisors's biggest Q1 2014 reduction was Astronics, cutting an estimated $1.96M.
  • Minerva Advisors fully exited MATERIAL SCIENCES CORP in Q1 2014, selling an estimated $2.98M.
  • Minerva Advisors's ten largest holdings make up 52% of its $169M portfolio in Q1 2014.
  • Minerva Advisors opened 6 new positions and closed 2 in Q1 2014.
  • Minerva Advisors's portfolio value fell 2.3% quarter-over-quarter to $169M.

Based on Minerva Advisors's 13F filing for Q1 2014, filed 12 May 2014.