0001251109-16-000046.txt : 20160728 0001251109-16-000046.hdr.sgml : 20160728 20160728141656 ACCESSION NUMBER: 0001251109-16-000046 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20160630 FILED AS OF DATE: 20160728 DATE AS OF CHANGE: 20160728 EFFECTIVENESS DATE: 20160728 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: 161789614 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 06-30-2016 06-30-2016 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 07-28-2016 0 133 147403 false INFORMATION TABLE 2 minerva13f2q2016v2.xml MINERVA 2Q 2016 13F AEHR TEST SYSTEMS COM 00760J108 29 18100 SH OTR 0 18100 0 AEHR TEST SYSTEMS COM 00760J108 66 40602 SH SOLE 40602 0 0 AH BELO CORP COM CL A 001282102 1711 342204 SH OTR 0 342204 0 AH BELO CORP COM CL A 001282102 2466 493271 SH SOLE 493271 0 0 AMERISERV FINANC INC COM 03074A102 186 61700 SH OTR 0 61700 0 AMERISERV FINANC INC COM 03074A102 200 66300 SH SOLE 66300 0 0 ASML HOLDING N V NY REG SHS N07059210 1110 11187 SH OTR 0 11187 0 ASML HOLDING N V NY REG SHS N07059210 117 1176 SH SOLE 1176 0 0 ASTRONICS CORP COM 046433108 449 13508 SH OTR 0 13508 0 ASTRONICS CORP COM 046433108 664 19981 SH SOLE 19981 0 0 ATRION CORP COM 049904105 76 178 SH OTR 0 178 0 ATRION CORP COM 049904105 281 656 SH SOLE 656 0 0 BENEFICIAL BANCORP INC COM 08171T102 36 2826 SH OTR 0 2826 0 BENEFICIAL BANCORP INC COM 08171T102 348 27405 SH SOLE 27405 0 0 BB&T CORP COM 054937107 364 10214 SH OTR 0 10214 0 BB&T CORP COM 054937107 295 8280 SH SOLE 8280 0 0 CAMDEN NATIONAL CORP COM 133034108 3177 75651 SH OTR 0 75651 0 CAMDEN NATIONAL CORP COM 133034108 1687 40185 SH SOLE 40185 0 0 CECO ENVIRONMENTAL CORP COM 125141101 801 91686 SH OTR 0 91686 0 CECO ENVIRONMENTAL CORP COM 125141101 1045 119525 SH SOLE 119525 0 0 CENTURY BANCORP INC MASS CL A NON VTG 156432106 1090 26450 SH OTR 0 26450 0 CENTURY BANCORP INC MASS CL A NON VTG 156432106 398 9663 SH SOLE 9663 0 0 CHASE CORP COM 16150R104 12375 209497 SH OTR 0 209497 0 CHASE CORP COM 16150R104 9953 168491 SH SOLE 168491 0 0 CHARTER FINL CORP MD COM 16122W108 677 50989 SH OTR 0 50989 0 CHARTER FINL CORP MD COM 16122W108 1177 88669 SH SOLE 88669 0 0 CHEMICAL FINANCIAL COM 163731102 445 11930 SH OTR 0 11930 0 CHEMICAL FINANCIAL COM 163731102 813 21805 SH SOLE 21805 0 0 CITIZENS & NORTHERN CORP COM 172922106 331 16400 SH OTR 0 16400 0 CITIZENS & NORTHERN CORP COM 172922106 535 26500 SH SOLE 26500 0 0 COMMAND SECURITY CORP COM 20050L100 11 4100 SH OTR 0 4100 0 COMMAND SECURITY CORP COM 20050L100 59 21950 SH SOLE 21950 0 0 COMMUNITY BANK SYS INC COM 203607106 689 16772 SH OTR 0 16772 0 COMMUNITY BANK SYS INC COM 203607107 1 27 SH SOLE 27 0 0 COMPUTER TASK GROUP INC COM 205477102 1734 348208 SH OTR 0 348208 0 COMPUTER TASK GROUP INC COM 205477102 3169 636251 SH SOLE 636251 0 0 COMPX INTERNATIONAL CL A 20563P101 51 4400 SH OTR 0 4400 0 COMPX INTERNATIONAL CL A 20563P101 86 7500 SH SOLE 7500 0 0 DAWSON GEOPHYSICAL CO NEW COM 239360100 1196 146889 SH OTR 0 146889 0 DAWSON GEOPHYSICAL CO NEW COM 239360100 1822 223776 SH SOLE 223776 0 0 DELUXE CORP COM 248019101 2290 34500 SH OTR 0 34500 0 DELUXE CORP COM 248019101 584 8800 SH SOLE 8800 0 0 DONEGAL GROUP INC CL B 257701300 174 11450 SH OTR 0 11450 0 DONEGAL GROUP INC CL B 257701300 153 10056 SH SOLE 10056 0 0 DONEGAL GROUP INC CL A 257701201 410 24882 SH OTR 0 24882 0 DONEGAL GROUP INC CL A 257701201 54 3280 SH SOLE 3280 0 0 DORMAN PRODUCTS INC COM 258278100 1700 29760 SH OTR 0 29760 0 DORMAN PRODUCTS INC COM 258278100 908 15880 SH SOLE 15880 0 0 EAGLE BANCORP MONT INC COM 26942G100 107 8400 SH OTR 0 8400 0 EAGLE BANCORP MONT INC COM 26942G100 218 17198 SH SOLE 17198 0 0 EASTERN CO COM 276317104 2403 144929 SH OTR 0 144929 0 EASTERN CO COM 276317104 3693 222712 SH SOLE 222712 0 0 ECOLOGY & ENVRNMT INC CL A 278878103 319 31804 SH OTR 0 31804 0 ECOLOGY & ENVRNMT INC CL A 278878103 466 46470 SH SOLE 46470 0 0 EMCLAIRE FINANCIAL CORP COM 290828102 305 12824 SH OTR 0 12824 0 EMCLAIRE FINANCIAL CORP COM 290828102 60 2535 SH SOLE 2535 0 0 ESCALADE INC COM 296056104 2061 201252 SH OTR 0 201252 0 ESCALADE INC COM 296056104 2199 214708 SH SOLE 214708 0 0 FNB CORP COM 302520101 325 25881 SH OTR 0 25881 0 FNB CORP COM 302520101 886 70665 SH SOLE 70665 0 0 FIRST MERCHANTS CORP COM 320817109 141 5655 SH OTR 0 5655 0 FIRST MERCHANTS CORP COM 320817109 157 6305 SH SOLE 6305 0 0 FOSTER L B CO COM 350060109 922 84643 SH OTR 0 84643 0 FOSTER L B CO COM 350060109 234 21489 SH SOLE 21489 0 0 GREAT LAKES DREDGE & DOCK CO COM 390607109 1435 329900 SH OTR 0 329900 0 GREAT LAKES DREDGE & DOCK CO COM 390607109 2155 495297 SH SOLE 495297 0 0 HORIZON BANCORP INDIANA COM 440407104 131 5218 SH OTR 0 5218 0 HORIZON BANCORP INDIANA COM 440407104 368 14661 SH SOLE 14661 0 0 IBERIABANK CORP COM 450828108 926 16035 SH OTR 0 16035 0 IBERIABANK CORP COM 450828108 570 9877 SH SOLE 9877 0 0 IMMUCELL CORP COM 452525306 38 5500 SH SOLE 0 5500 0 IMMUCELL CORP COM 452525306 63 9059 SH OTR 9059 0 0 INFUSYSTEM HLDGS INC COM 45685K102 2091 804352 SH OTR 0 804352 0 INFUSYSTEM HLDGS INC COM 45685K102 3335 1282712 SH SOLE 1282712 0 0 INVESTORS BANCORP INC NEW COM 46146L101 274 24711 SH OTR 0 24711 0 INVESTORS BANCORP INC NEW COM 46146L101 753 67990 SH SOLE 67990 0 0 JACKSONVILLE BANCORP INC MD COM 46924R106 317 11703 SH OTR 0 11703 0 JACKSONVILLE BANCORP INC MD COM 46924R106 527 19442 SH SOLE 19442 0 0 KAPSTONE PAPER & PACKAGING CORP COM 48562P103 2826 217199 SH OTR 0 217199 0 KAPSTONE PAPER & PACKAGING CORP COM 48562P103 4450 342050 SH SOLE 342050 0 0 KOSS CORP COM 500692108 77 38100 SH OTR 0 38100 0 KOSS CORP COM 500692108 164 80986 SH SOLE 80986 0 0 KURA ONCOLOGY INC COM 50127T109 337 124700 SH OTR 0 124700 0 KURA ONCOLOGY INC COM 50127T109 640 237037 SH SOLE 237037 0 0 LAKE SHORE BANCORP INC COM 510700107 122 9400 SH OTR 0 9400 0 LAKE SHORE BANCORP INC COM 510700107 264 20269 SH SOLE 20269 0 0 MALVERN BANCORP INC COM 561409103 1872 120000 SH SOLE 120000 0 0 MAM SOFTWARE GROUP INC COM NEW 55277Q201 62 10330 SH SOLE 10330 0 0 MER TELEMANAGEMENT SOLUTIONS SHS M69676126 40 36651 SH OTR 0 36651 0 MER TELEMANAGEMENT SOLUTIONS SHS M69676126 201 185974 SH SOLE 185974 0 0 MUTUALFIRST FINL INC COM 62845B104 691 25260 SH OTR 0 25260 0 MUTUALFIRST FINL INC COM 62845B104 155 5666 SH SOLE 5666 0 0 NAVIGATOR HOLDINGS LTD SHS Y62132108 1531 133122 SH OTR 0 133122 0 NAVIGATOR HOLDINGS LTD SHS Y62132108 2857 248412 SH SOLE 248412 0 0 NORTHWEST BANCSHARES INC MD COM 667340103 667 45000 SH OTR 0 45000 0 NORTHWEST BANCSHARES INC MD COM 667340103 424 28625 SH SOLE 28625 0 0 NORWOOD FINANCIAL CORP COM 669549107 167 5973 SH OTR 0 5973 0 NORWOOD FINANCIAL CORP COM 669549107 245 8764 SH SOLE 8764 0 0 OCONEE FED FINL CORP COM 675607105 224 11451 SH OTR 0 11451 0 OCONEE FED FINL CORP COM 675607105 224 11451 SH SOLE 11451 0 0 ONVIA INC COM NEW 68338T403 550 154500 SH OTR 0 154500 0 ONVIA INC COM NEW 68338T403 1066 299553 SH SOLE 299553 0 0 PATHFINDER BANCORP INC COM 70319R109 624 55437 SH OTR 0 55437 0 PATHFINDER BANCORP INC COM 70319R109 1170 103937 SH SOLE 103937 0 0 PB BANCORP INC COM 70454T100 102 12086 SH OTR 0 12086 0 PB BANCORP INC COM 70454T100 158 18747 SH SOLE 18747 0 0 PROASSURANCE CORP COM 74267C106 1031 19244 SH OTR 0 19244 0 PROASSURANCE CORP COM 74267C106 488 9114 SH SOLE 9114 0 0 PRONAI THERAPETICS INC COM 74346L101 79 39809 SH OTR 0 39809 0 PRONAI THERAPETICS INC COM 74346L101 148 74500 SH SOLE 74500 0 0 PROV & WOR RAILRD CO COM 743737108 408 25500 SH OTR 0 25500 0 PROV & WOR RAILRD CO COM 743737108 24 1500 SH SOLE 1500 0 0 RAND LOGISTICS INC COM 752182105 682 655726 SH OTR 0 655726 0 RAND LOGISTICS INC COM 752182105 1220 1172943 SH SOLE 1172943 0 0 SAGA COMMUNICATIONS INC CL A NEW 786598300 825 20872 SH OTR 0 20872 0 SAGA COMMUNICATIONS INC CL A NEW 786598300 1666 42125 SH SOLE 42125 0 0 SCRIPPS E W CO OHIO CL A NEW 811054402 4055 255980 SH OTR 0 255980 0 SCRIPPS E W CO OHIO CL A NEW 811054402 5719 361051 SH SOLE 361051 0 0 SIFCO INDUSTRIES INC COM 826546103 125 12500 SH OTR 0 12500 0 SIFCO INDUSTRIES INC COM 826546103 263 26318 SH SOLE 26318 0 0 STATE AUTO FINANCIAL CORP COM 855707105 289 13230 SH OTR 0 13230 0 STATE AUTO FINANCIAL CORP COM 855707105 532 24322 SH SOLE 24322 0 0 SYNALLOY CP DEL COM 871565107 171 22300 SH OTR 0 22300 0 SYNALLOY CP DEL COM 871565107 352 45955 SH SOLE 45955 0 0 TRANSCAT INC COM 893529107 1539 153794 SH OTR 0 153794 0 TRANSCAT INC COM 893529107 2602 259960 SH SOLE 259960 0 0 UNIVERSAL STAINLESS & ALLOY COM 913837100 1578 144767 SH OTR 0 144767 0 UNIVERSAL STAINLESS & ALLOY COM 913837100 2512 230453 SH SOLE 230453 0 0 US LIME & MINERAL COM 911922102 3996 67999 SH OTR 0 67999 0 US LIME & MINERAL COM 911922102 4700 79980 SH SOLE 79980 0 0 VILLAGE BANK & TRUST FIN CO COM 92705T200 473 21037 SH SOLE 21037 0 0 VIRCO MANUFACTURING CO COM 927651109 1915 440133 SH OTR 0 440133 0 VIRCO MANUFACTURING CO COM 927651109 2629 604315 SH SOLE 604315 0 0