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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
+3.88%
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
$184M
AUM Growth
+$6.46M
Cap. Flow
+$3M
Cap. Flow %
1.63%
Top 10 Hldgs %
54.32%
Holding
87
New
2
Increased
9
Reduced
15
Closed
2

Top Buys

Rank Stock Value
1
SGA icon
Saga Communications
SGA
+$1.25M
2
USAP
Universal Stainless & Alloy
USAP
+$932K
3
EEI
Ecology and Environment
EEI
+$490K
4
RAIL icon
FreightCar America
RAIL
+$471K
5
AE
Adams Resources & Energy Inc
AE
+$345K

Top Sells

Rank Stock Value
1
GLDD
Great Lakes Dredge & Dock
GLDD
+$330K
2
AUD
Audacy, Inc.
AUD
+$203K
3
CSS
CSS Industries, Inc.
CSS
+$76.3K
4
TRNS icon
Transcat
TRNS
+$73.5K
5
FTK icon
Flotek Industries
FTK
+$54.1K

Sector Composition

Rank Sector Weight
1 Industrials 34.22%
2 Financials 20.31%
3 Materials 11.99%
4 Communication Services 11.01%
5 Consumer Discretionary 6.6%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GPX
51
DELISTED
GP Strategies Corp.
GPX
$526K 0.29%
34,908
– –
OFED
52
DELISTED
Oconee Federal Financial Corp.
OFED
$524K 0.28%
22,902
– –
NWFL icon
53
Norwood Financial Corp
NWFL
$367M
$519K 0.28%
15,811
– –
FTK icon
54
Flotek Industries
FTK
$839M
$509K 0.28%
25,667
-2,666
-9% -$54.1K
EMCF
55
DELISTED
Emclaire Financial Corp
EMCF
$480K 0.26%
15,359
– –
MFNC
56
DELISTED
Mackinac Financial Corporation
MFNC
$466K 0.25%
30,394
– –
KOSS icon
57
Koss Corp
KOSS
$35.1M
$459K 0.25%
229,869
– –
FRME icon
58
First Merchants
FRME
$2.69B
$453K 0.25%
11,960
– –
LSBK icon
59
Lake Shore Bancorp
LSBK
$135M
$444K 0.24%
29,669
– –
DGICA icon
60
Donegal Group Class A
DGICA
$719M
$430K 0.23%
28,162
– –
TCF
61
DELISTED
TCF Financial Corporation Common Stock
TCF
$429K 0.23%
10,425
– –
RAIL icon
62
FreightCar America
RAIL
$266M
$427K 0.23%
+73,044
New +$471K
EBMT icon
63
Eagle Bancorp Montana
EBMT
$186M
$424K 0.23%
25,598
– –
TFC icon
64
Truist Financial
TFC
$63.3B
$417K 0.23%
8,488
– –
ICCH
65
DELISTED
ICC Holdings, Inc.
ICCH
$415K 0.23%
30,000
– –
DLHC icon
66
DLH Holdings
DLHC
$71M
$391K 0.21%
79,192
– –
HVBC
67
DELISTED
HV Bancorp, Inc. Common Stock
HVBC
$390K 0.21%
25,890
– –
ASML icon
68
ASML
ASML
$635B
$376K 0.2%
1,807
– –
WSFS icon
69
WSFS Financial
WSFS
$4.12B
$374K 0.2%
9,057
-69
-0.8% -$2.86K
PBBI
70
DELISTED
PB Bancorp, Inc. Common Stock
PBBI
$355K 0.19%
30,833
– –
DGICB
71
Donegal Group Class B
DGICB
$807M
$336K 0.18%
25,806
– –
AE
72
DELISTED
Adams Resources & Energy Inc
AE
$331K 0.18%
+9,826
New +$345K
CIX icon
73
Comp X International
CIX
$350M
$289K 0.16%
17,048
– –
MSVB
74
DELISTED
Mid-Southern Bancorp, Inc.
MSVB
$273K 0.15%
21,706
– –
FSBC
75
DELISTED
FSB Bancorp, Inc. Common Stock
FSBC
$196K 0.11%
11,040
– –
1 2
3
4

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Minerva Advisors's Q2 2019 Portfolio in Review

As of Q2 2019, Minerva Advisors held 87 positions worth $184M, up 3.6% from $178M the previous quarter. Its ten largest holdings account for 54% of the portfolio.

Trading was light in Q2 2019: portfolio turnover was 4.6%. Minerva Advisors opened 2 new positions and exited 2, leaving the 87-position portfolio largely intact.

By sector, the portfolio is most concentrated in Industrials at 34% of assets, up from 31% a quarter earlier, followed by Financials and Materials.

  • Minerva Advisors's largest Q2 2019 buy was FreightCar America: 73,044 shares worth $427K.
  • Minerva Advisors added most to Saga Communications in Q2 2019, an estimated $1.25M increase.
  • Minerva Advisors's biggest Q2 2019 reduction was Great Lakes Dredge & Dock, cutting an estimated $330K.
  • Minerva Advisors's ten largest holdings make up 54% of its $184M portfolio in Q2 2019.
  • Minerva Advisors opened 2 new positions and closed 2 in Q2 2019.
  • Minerva Advisors's portfolio value rose 3.6% quarter-over-quarter to $184M.

Based on Minerva Advisors's 13F filing for Q2 2019, filed 1 Aug 2019.