MA

Minerva Advisors Portfolio holdings

AUM $153M
This Quarter Return
+6.78%
1 Year Return
+32.62%
3 Year Return
+110.86%
5 Year Return
+244.8%
10 Year Return
+500.14%
AUM
$151M
AUM Growth
+$151M
Cap. Flow
+$2.97M
Cap. Flow %
1.97%
Top 10 Hldgs %
53.27%
Holding
76
New
2
Increased
13
Reduced
6
Closed
3

Top Buys

1
USAP
Universal Stainless & Alloy
USAP
$2.11M
2
NVGS icon
Navigator Holdings
NVGS
$811K
3
RLOG
Rand Logistics, Inc.
RLOG
$517K
4
USLM icon
United States Lime & Minerals
USLM
$332K
5
ONVI
Onvia, Inc.
ONVI
$185K

Top Sells

1
ASML icon
ASML
ASML
$470K
2
GCI
Gannett Co., Inc
GCI
$368K
3
WPX
WPX Energy, Inc.
WPX
$356K
4
MAMS
MAM Software Group Inc. New
MAMS
$215K
5
ATRO icon
Astronics
ATRO
$204K

Sector Composition

1 Industrials 28.12%
2 Financials 17.62%
3 Materials 14.96%
4 Communication Services 12.91%
5 Consumer Discretionary 6.74%
Name Market Value Portfolio Weight Shares or Principal Shares
Change % 		Capital Flow
BNCL
51
DELISTED
Beneficial Bancorp, Inc.
BNCL
$403K 0.27%
30,231
– –
VBFC
52
DELISTED
Village Bank and Trust Financial Corp.
VBFC
$400K 0.26%
21,037
– –
LSBK icon
53
Lake Shore Bancorp
LSBK
$105M
$399K 0.26%
29,669
– –
DGICA icon
54
Donegal Group Class A
DGICA
$671M
$395K 0.26%
28,162
– –
SIF icon
55
SIFCO Industries
SIF
$42.3M
$382K 0.25%
40,203
+6,011
+18% +$57.1K
PWX
56
DELISTED
Providence & Worcester Railroad Company
PWX
$372K 0.25%
27,000
– –
EMCF
57
DELISTED
Emclaire Financial Corp
EMCF
$369K 0.24%
15,359
– –
DGICB
58
Donegal Group Class B
DGICB
$543M
$347K 0.23%
21,506
– –
EBMT icon
59
Eagle Bancorp Montana
EBMT
$138M
$317K 0.21%
25,598
– –
FRME icon
60
First Merchants
FRME
$2.38B
$304K 0.2%
11,960
– –
TG icon
61
Tredegar Corp
TG
$265M
$264K 0.17%
19,377
– –
PSBH
62
DELISTED
PSB HOLDINGS INC
PSBH
$263K 0.17%
25,897
– –
BZC
63
DELISTED
BREEZE-EASTERN CORPORATION COM
BZC
$257K 0.17%
13,000
– –
KOSS icon
64
Koss Corp
KOSS
$58.1M
$227K 0.15%
116,346
+9,791
+9% +$19.1K
MTSL
65
DELISTED
MER TELEMANAGEMENT SOLUTNS LTD
MTSL
$182K 0.12%
222,625
– –
WSBF icon
66
Waterstone Financial
WSBF
$275M
$181K 0.12%
12,829
– –
ACNT icon
67
Ascent Industries
ACNT
$113M
$131K 0.09%
+19,100
New +$131K
AEHR icon
68
Aehr Test Systems
AEHR
$734M
$111K 0.07%
58,702
– –
ICCC icon
69
ImmuCell
ICCC
$59.1M
$108K 0.07%
14,559
– –
MAMS
70
DELISTED
MAM Software Group Inc. New
MAMS
$72K 0.05%
10,330
-30,783
-75% -$215K
MOC
71
DELISTED
Command Security Corporation
MOC
$70K 0.05%
30,550
– –
GCI
72
DELISTED
Gannett Co., Inc
GCI
– –
-25,000
Closed -$368K
IDXG
73
DELISTED
Interpace Biosciences, Inc. Common Stock
IDXG
– –
-22,195
Closed -$41K
WPX
74
DELISTED
WPX Energy, Inc.
WPX
– –
-53,800
Closed -$356K
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