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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
-13.27%
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
$156M
AUM Growth
-$39.2M
Cap. Flow
-$10.7M
Cap. Flow %
-6.84%
Top 10 Hldgs %
54.1%
Holding
83
New
4
Increased
13
Reduced
9
Closed
1

Top Buys

Rank Stock Value
1
ALR
AlerisLife Inc
ALR
+$794K
2
RIVE
Riverview Financial Corporation Common Stock
RIVE
+$705K
3
CLBK icon
Columbia Financial
CLBK
+$529K
4
PBHC icon
Pathfinder Bancorp
PBHC
+$477K
5
SGA icon
Saga Communications
SGA
+$476K

Top Sells

Rank Stock Value
1
KS
KapStone Paper and Pack Corp.
KS
+$14.2M
2
SAEX
SAExploration Holdings, Inc.
SAEX
+$234K
3
ATRO icon
Astronics
ATRO
+$164K
4
STFC
State Auto Financial Corp
STFC
+$135K
5
AUD
Audacy, Inc.
AUD
+$68.6K

Sector Composition

Rank Sector Weight
1 Industrials 31.31%
2 Financials 21.53%
3 Communication Services 12.33%
4 Materials 11.57%
5 Consumer Discretionary 7.44%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
RAND icon
76
Rand Capital
RAND
$29.7M
$98K 0.06%
4,944
– –
MAMS
77
DELISTED
MAM Software Group Inc. New
MAMS
$82K 0.05%
10,330
– –
SSY
78
DELISTED
SunLink Health Systems
SSY
$54K 0.03%
+47,330
New +$55.6K
VOLT
79
DELISTED
Volt Information Sciences, Inc.
VOLT
$44K 0.03%
20,300
– –
AEHR icon
80
Aehr Test Systems
AEHR
$2.61B
$36K 0.02%
25,313
– –
KS
81
DELISTED
KapStone Paper and Pack Corp.
KS
– –
-419,871
Closed -$14.2M
1 2 3
4

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TL
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AF
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MLIM
Mountain Lake Investment Management Boca Raton, Florida $155M AUM 38.76% 1-Year Est. Return
ALAM
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LWM
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RPGNY
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DWM
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Minerva Advisors's Q4 2018 Portfolio in Review

As of Q4 2018, Minerva Advisors held 83 positions worth $156M, down 20% from $196M the previous quarter. Its ten largest holdings account for 54% of the portfolio.

Minerva Advisors withdrew a net $10.7M in Q4 2018, closing 1 position and reducing 9 holdings. Its most notable exit was KapStone Paper and Pack Corp., an estimated $14.2M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 31% of assets, up from 29% a quarter earlier, followed by Financials and Communication Services.

Against the trend, Minerva Advisors opened a new position in Riverview Financial Corporation Common Stock worth $591K.

  • Minerva Advisors's largest Q4 2018 buy was Riverview Financial Corporation Common Stock: 54,213 shares worth $591K.
  • Minerva Advisors added most to AlerisLife Inc in Q4 2018, an estimated $794K increase.
  • Minerva Advisors's biggest Q4 2018 reduction was SAExploration Holdings, Inc., cutting an estimated $234K.
  • Minerva Advisors fully exited KapStone Paper and Pack Corp. in Q4 2018, selling an estimated $14.2M.
  • Minerva Advisors's ten largest holdings make up 54% of its $156M portfolio in Q4 2018.
  • Minerva Advisors opened 4 new positions and closed 1 in Q4 2018.
  • Minerva Advisors's portfolio value fell 20% quarter-over-quarter to $156M.

Based on Minerva Advisors's 13F filing for Q4 2018, filed 6 Feb 2019.