0001251109-15-000014.txt : 20150730 0001251109-15-000014.hdr.sgml : 20150730 20150730141901 ACCESSION NUMBER: 0001251109-15-000014 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20150630 FILED AS OF DATE: 20150730 DATE AS OF CHANGE: 20150730 EFFECTIVENESS DATE: 20150730 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Minerva Advisors LLC CENTRAL INDEX KEY: 0001541536 IRS NUMBER: 753088079 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-14665 FILM NUMBER: 151015622 BUSINESS ADDRESS: STREET 1: 50 MONUMENT ROAD STREET 2: SUITE 201 CITY: BALA CYNWYD STATE: PA ZIP: 19004 BUSINESS PHONE: (484) 434-2258 MAIL ADDRESS: STREET 1: 50 MONUMENT ROAD STREET 2: SUITE 201 CITY: BALA CYNWYD STATE: PA ZIP: 19004 13F-HR 1 primary_doc.xml 13F-HR LIVE false true false 0001541536 XXXXXXXX 06-30-2015 06-30-2015 Minerva Advisors LLC

50 MONUMENT ROAD SUITE 201 BALA CYNWYD PA 19004

13F HOLDINGS REPORT 028-14665 Y In the Information Table, shares reported as "SOLE" under Column 6 and Column 8 are held by Minerva Group, LP, a private fund managed by Minerva Advisors LLC. Shares reported as "OTR" under Column 6 and "SHARED" under Column 8 relate to managed accounts for which Minerva Advisors LLC is the investment advisor. Beth N. Lowson 914-220-1919 Beth N. Lowson White Plains NY 07-30-2015 0 135 163527 false INFORMATION TABLE 2 minerva13f2q2015live.xml AEHR TEST SYSTEMS COM 00760J108 39 18100 SH OTR 0 18100 0 AEHR TEST SYSTEMS COM 00760J108 87 40602 SH SOLE 40602 0 0 AH BELO CORP COM CL A 001282102 1861 332304 SH OTR 0 332304 0 AH BELO CORP COM CL A 001282102 2663 475486 SH SOLE 475486 0 0 AMERISERV FINANC INC COM 03074A102 195 58700 SH OTR 0 58700 0 AMERISERV FINANC INC COM 03074A102 201 60300 SH SOLE 60300 0 0 AMPCO-PITTSBURGH CORP COM 032037103 535 35400 SH OTR 0 35400 0 AMPCO-PITTSBURGH CORP COM 032037103 372 24571 SH SOLE 24571 0 0 ASML HOLDING N V NY REG SHS N07059210 1717 16488 SH OTR 0 16488 0 ASML HOLDING N V NY REG SHS N07059210 122 1176 SH SOLE 1176 0 0 ASTRONICS CORP COM 046433108 958 13508 SH OTR 0 13508 0 ASTRONICS CORP COM 046433108 1416 19981 SH SOLE 19981 0 0 ATRION CORP COM 049904105 587 1500 SH OTR 0 1500 0 ATRION CORP COM 049904105 2004 5125 SH SOLE 5125 0 0 BENEFICIAL BANCORP INC COM 08171T102 35 2826 SH OTR 0 2826 0 BENEFICIAL BANCORP INC COM 08171T102 342 27405 SH SOLE 27405 0 0 BREEZE EASTERN CORP COM 106764103 150 13000 SH OTR 0 13000 0 CAMDEN NATIONAL CORP COM 133034108 2928 75651 SH OTR 0 75651 0 CAMDEN NATIONAL CORP COM 133034108 1555 40185 SH SOLE 40185 0 0 CENTURY BANCORP INC MASS CL A NON VTG 156432106 1067 26450 SH OTR 0 26450 0 CENTURY BANCORP INC MASS CL A NON VTG 156432106 390 9663 SH SOLE 9663 0 0 CHASE CORP COM 16150R104 9083 228505 SH OTR 0 228505 0 CHASE CORP COM 16150R104 7298 183591 SH SOLE 183591 0 0 CHARTER FINL CORP MD COM 16122W108 632 50989 SH OTR 0 50989 0 CHARTER FINL CORP MD COM 16122W108 1099 88669 SH SOLE 88669 0 0 CHEMICAL FINANCIAL COM 163731102 487 14730 SH OTR 0 14730 0 CHEMICAL FINANCIAL COM 163731102 892 27005 SH SOLE 27005 0 0 CITIZENS & NORTHERN CORP COM 172922106 337 16400 SH OTR 0 16400 0 CITIZENS & NORTHERN CORP COM 172922106 544 26500 SH SOLE 26500 0 0 COMMAND SECURITY CORP COM 20050L100 8 4100 SH OTR 0 4100 0 COMMAND SECURITY CORP COM 20050L100 54 26450 SH SOLE 26450 0 0 COMMUNITY BANK SYS INC COM 203607106 526 13938 SH OTR 0 13938 0 COMPUTER TASK GROUP INC COM 205477102 1625 210770 SH OTR 0 210770 0 COMPUTER TASK GROUP INC COM 205477102 3078 399283 SH SOLE 399283 0 0 DAWSON GEOPHYSICAL CO NEW COM 239360100 645 137289 SH OTR 0 137289 0 DAWSON GEOPHYSICAL CO NEW COM 239360100 899 191373 SH SOLE 191373 0 0 DELUXE CORP COM 248019101 2139 34500 SH OTR 0 34500 0 DELUXE CORP COM 248019101 546 8800 SH SOLE 8800 0 0 DONEGAL GROUP INC CL B 257701300 209 11450 SH OTR 0 11450 0 DONEGAL GROUP INC CL B 257701300 184 10056 SH SOLE 10056 0 0 DONEGAL GROUP INC CL A 257701201 377 24882 SH OTR 0 24882 0 DONEGAL GROUP INC CL A 257701201 51 3280 SH SOLE 3280 0 0 DORMAN PRODUCTS INC COM 258278100 1442 30260 SH OTR 0 30260 0 DORMAN PRODUCTS INC COM 258278100 757 15880 SH SOLE 15880 0 0 EAGLE BANCORP MONT INC COM 26942G100 91 8400 SH OTR 0 8400 0 EAGLE BANCORP MONT INC COM 26942G100 186 17198 SH SOLE 17198 0 0 EASTERN CO COM 276317104 2754 149429 SH OTR 0 149429 0 EASTERN CO COM 276317104 4098 222345 SH SOLE 222345 0 0 ECOLOGY & ENVRNMT INC CL A 278878103 288 27704 SH OTR 0 27704 0 ECOLOGY & ENVRNMT INC CL A 278878103 449 43170 SH SOLE 43170 0 0 EMCLAIRE FINANCIAL CORP COM 290828102 302 12824 SH OTR 0 12824 0 EMCLAIRE FINANCIAL CORP COM 290828102 60 2535 SH SOLE 2535 0 0 ESCALADE INC COM 296056104 3298 179252 SH OTR 0 179252 0 ESCALADE INC COM 296056104 3115 169270 SH SOLE 169270 0 0 FNB CORP COM 302520101 371 25881 SH OTR 0 25881 0 FNB CORP COM 302520101 1012 70665 SH SOLE 70665 0 0 FIRST MERCHANTS CORP COM 320817109 140 5655 SH OTR 0 5655 0 FIRST MERCHANTS CORP COM 320817109 156 6305 SH SOLE 6305 0 0 FOSTER L B CO COM 350060109 2925 84643 SH OTR 0 84643 0 FOSTER L B CO COM 350060109 743 21489 SH SOLE 21489 0 0 GLOBAL POWER EQUIP GP I COM PAR $0.01 37941P306 1343 173047 SH OTR 0 173047 0 GLOBAL POWER EQUIP GP I COM PAR $0.01 37941P306 2249 289862 SH SOLE 289862 0 0 GREAT LAKES DREDGE & DOCK CO COM 390607109 1703 285200 SH OTR 0 285200 0 GREAT LAKES DREDGE & DOCK CO COM 390607109 2348 393227 SH SOLE 393227 0 0 IBERIABANK CORP COM 450828108 1094 16035 SH OTR 0 16035 0 IBERIABANK CORP COM 450828108 674 9877 SH SOLE 9877 0 0 INFUSYSTEM HLDGS INC COM 45685K102 2566 804352 SH OTR 0 804352 0 INFUSYSTEM HLDGS INC COM 45685K102 4092 1282712 SH SOLE 1282712 0 0 INVESTORS BANCORP INC NEW COM 46146L101 304 24711 SH OTR 0 24711 0 INVESTORS BANCORP INC NEW COM 46146L101 836 67990 SH SOLE 67990 0 0 JACKSONVILLE BANCORP INC MD COM 46924R106 270 11703 SH OTR 0 11703 0 JACKSONVILLE BANCORP INC MD COM 46924R106 449 19442 SH SOLE 19442 0 0 JOURNAL MEDIA GROUP INC CL A 48114A102 680 82082 SH OTR 0 82082 0 JOURNAL MEDIA GROUP INC CL A 48114A109 942 113686 SH SOLE 113686 0 0 KAPSTONE PAPER & PACKAGING CORP COM 48562P103 5022 217199 SH OTR 0 217199 0 KAPSTONE PAPER & PACKAGING CORP COM 48562P103 7908 342050 SH SOLE 342050 0 0 KOSS CORP COM 500692108 88 38100 SH OTR 0 38100 0 KOSS CORP COM 500692108 158 68455 SH SOLE 68455 0 0 LAKE SHORE BANCORP INC COM 510700107 125 9400 SH OTR 0 9400 0 LAKE SHORE BANCORP INC COM 510700107 270 20269 SH SOLE 20269 0 0 MALVERN BANCORP INC COM 561409103 1781 120000 SH SOLE 120000 0 0 MAM SOFTWARE GROUP INC COM NEW 55277Q201 220 41113 SH SOLE 41113 0 0 MER TELEMANAGEMENT SOLUTIONS SHS M69676126 100 36651 SH OTR 0 36651 0 MER TELEMANAGEMENT SOLUTIONS SHS M69676126 510 185974 SH SOLE 185974 0 0 MUTUALFIRST FINL INC COM 62845B104 586 25260 SH OTR 0 25260 0 MUTUALFIRST FINL INC COM 62845B104 131 5666 SH SOLE 5666 0 0 NATIONAL PENN BANCSHARES INC COM 637138108 851 75488 SH OTR 0 75488 0 NATIONAL PENN BANCSHARES INC COM 637138108 608 53948 SH SOLE 53948 0 0 NAVIGATOR HOLDINGS LTD SHS Y62132108 1826 96322 SH OTR 0 96322 0 NAVIGATOR HOLDINGS LTD SHS Y62132108 3330 175637 SH SOLE 175637 0 0 NORTHWEST BANCSHARES INC MD COM 667340103 577 45000 SH OTR 0 45000 0 NORTHWEST BANCSHARES INC MD COM 667340103 367 28625 SH SOLE 28625 0 0 NORWOOD FINANCIAL CORP COM 669549107 175 5973 SH OTR 0 5973 0 NORWOOD FINANCIAL CORP COM 669549107 256 8764 SH SOLE 8764 0 0 OCONEE FED FINL CORP COM 675607105 207 11451 SH OTR 0 11451 0 OCONEE FED FINL CORP COM 675607105 207 11451 SH SOLE 11451 0 0 ONVIA INC COM NEW 68338T403 549 137200 SH OTR 0 137200 0 ONVIA INC COM NEW 68338T403 1061 265353 SH SOLE 265353 0 0 PATHFINDER BANCORP INC COM 70319R109 608 53318 SH OTR 0 53318 0 PATHFINDER BANCORP INC COM 70319R109 1175 103033 SH SOLE 103033 0 0 PDI INC COM 69329V100 13 9323 SH OTR 0 9323 0 PDI INC COM 69329V100 18 12872 SH SOLE 12872 0 0 PMFG INC COM 69345P103 2253 350324 SH OTR 0 350324 0 PMFG INC COM 69345P103 2936 456666 SH SOLE 456666 0 0 PROASSURANCE CORP COM 74267C106 889 19244 SH OTR 0 19244 0 PROASSURANCE CORP COM 74267C106 421 9114 SH SOLE 9114 0 0 PROV & WOR RAILRD CO COM 743737108 440 25500 SH OTR 0 25500 0 PROV & WOR RAILRD CO COM 743737108 26 1500 SH SOLE 1500 0 0 PSB HOLDINGS INC COM 69360W108 81 10152 SH OTR 0 10152 0 PSB HOLDINGS INC COM 69360W108 126 15745 SH SOLE 15745 0 0 RAND LOGISTICS INC COM 752182105 1124 346813 SH OTR 0 346813 0 RAND LOGISTICS INC COM 752182105 2107 650402 SH SOLE 650402 0 0 SAGA COMMUNICATIONS INC CL A NEW 786598300 391 10319 SH OTR 0 10319 0 SAGA COMMUNICATIONS INC CL A NEW 786598300 761 20106 SH SOLE 20106 0 0 SCRIPPS E W CO OHIO CL A NEW 811054402 5849 255980 SH OTR 0 255980 0 SCRIPPS E W CO OHIO CL A NEW 811054402 8250 361051 SH SOLE 361051 0 0 SIFCO INDUSTRIES INC COM 826546103 85 5700 SH OTR 0 5700 0 SIFCO INDUSTRIES INC COM 826546103 170 11388 SH SOLE 11388 0 0 STATE AUTO FINANCIAL CORP COM 855707105 463 19330 SH OTR 0 19330 0 STATE AUTO FINANCIAL CORP COM 855707105 852 35608 SH SOLE 35608 0 0 TRANSCAT INC COM 893529107 1447 153794 SH OTR 0 153794 0 TRANSCAT INC COM 893529107 2446 259960 SH SOLE 259960 0 0 TRANSENTERIX INC COM 89366M201 55 18343 SH SOLE 18343 0 0 TREDEGAR CORP COM 894650100 159 7177 SH OTR 0 7177 0 TREDEGAR CORP COM 894650100 270 12200 SH SOLE 12200 0 0 UNIVERSAL STAINLESS & ALLOY COM 913837100 548 27900 SH OTR 0 27900 0 UNIVERSAL STAINLESS & ALLOY COM 913837100 35 1800 SH SOLE 1800 0 0 US LIME & MINERAL COM 911922102 3418 58809 SH OTR 0 58809 0 US LIME & MINERAL COM 911922102 3242 55781 SH SOLE 55781 0 0 VILLAGE BANK & TRUST FIN CO COM 92705T200 414 21037 SH SOLE 21037 0 0 VIRCO MANUFACTURING CO COM 927651109 1250 440133 SH OTR 0 440133 0 VIRCO MANUFACTURING CO COM 927651109 1697 597581 SH SOLE 597581 0 0 WATERSTONE FINANCIAL INC MD COM 94188P101 211 16000 SH SOLE 16000 0 0 WPX ENERGY INC COM 98212B103 249 20300 SH OTR 0 20300 0 WPX ENERGY INC COM 98212B103 461 37500 SH SOLE 37500 0 0