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Institutional Investment Manager
Minerva Advisors LLC
Minerva Advisors LLC (CIK: 0001541536), located at 50 Monument Road, Bala Cynwyd, PA. Institutional holdings reported to the SEC.

Institutional Holdings (2015Q3)
Portfolio Summary: 74 holdings with a total value of $140,774,000.
#
Name
Shares
Value ($)
%
Options
Notes
51 Norwood Financial Corp 14,737 417,000 0.30%
52 OCONEE FED FINL CORP 22,902 408,000 0.29%
53 BENEFICIAL BANCORP INC 30,231 400,000 0.28%
54 LAKE SHORE BANCORP INC 29,669 398,000 0.28%
55 DONEGAL GROUP INC 21,506 398,000 0.28%
56 DONEGAL GROUP INC 28,162 395,000 0.28%
57 SIFCO INDS INC 34,192 386,000 0.27%
58 AMERISERV FINL INC 119,000 382,000 0.27%
59 GANNETT CO INC 25,000 368,000 0.26%
60 WPX ENERGY INC 53,800 356,000 0.25%
61 EMCLAIRE FINL CORP 15,359 353,000 0.25%
62 FIRST MERCHANTS CORP COM 11,960 313,000 0.22%
63 EAGLE BANCORP MONT INC 25,598 289,000 0.21%
64 MER TELEMANAGEMENT SOLUTIONS 222,625 274,000 0.19%
65 TREDEGAR CORP COM 19,377 254,000 0.18%
66 PSB HOLDINGS INC 25,897 243,000 0.17%
67 MAM SOFTWARE GROUP INC 41,113 242,000 0.17%
68 KOSS CORP 106,555 230,000 0.16%
69 BREEZE EASTERN CORP 13,000 182,000 0.13%
70 WATERSTONE FINL INC MD 12,829 173,000 0.12%
71 AEHR TEST SYSTEMS 58,702 136,000 0.10%
72 IMMUCELL CORP 14,559 87,000 0.06%
73 COMMAND SEC CORP 30,550 57,000 0.04%
74 PDI INC 22,195 41,000 0.03%
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Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001251109-15-000016, filed 2015.11.12).

From 2023-01-03 onward, the SEC requires values to be reported in nearest dollars. Earlier filings reported values in thousands; therefore, positions shown as $0 in older filings may represent actual values between $0–$999.