0001251109-14-000036.txt : 20141030 0001251109-14-000036.hdr.sgml : 20141030 20141030145414 ACCESSION NUMBER: 0001251109-14-000036 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20140930 FILED AS OF DATE: 20141030 DATE AS OF CHANGE: 20141030 EFFECTIVENESS DATE: 20141030 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: 141182953 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 09-30-2014 09-30-2014 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 10-29-2014 0 142 162042 false INFORMATION TABLE 2 minervainfotable3q.xml AEHR TEST SYSTEMS COM 00760J108 46 18100 SH OTR 0 18100 0 AEHR TEST SYSTEMS COM 00760J108 103 40602 SH SOLE 40602 0 0 AH BELO CORP COM CL A 001282102 3430 321502 SH OTR 0 321502 0 AH BELO CORP COM CL A 001282102 4853 454782 SH SOLE 454782 0 0 AMERISERV FINANC INC COM 03074A102 123 38000 SH OTR 0 38000 0 AMERISERV FINANC INC COM 03074A102 46 14200 SH SOLE 14200 0 0 AMPCO PITTSBURGH CORP COM 032037103 708 35400 SH OTR 0 35400 0 AMPCO PITTSBURGH CORP COM 032037103 491 24571 SH SOLE 24571 0 0 APCO OIL & GAS INTL SHS G0471F109 2647 205331 SH OTR 0 205331 0 APCO OIL & GAS INTL SHS G0471F109 4582 355504 SH SOLE 355504 0 0 ASML HOLDING N V NY REG SHS N07059210 1653 16761 SH OTR 0 16761 0 ASML HOLDING N V NY REG SHS N07059210 116 1176 SH SOLE 1176 0 0 ASTRONICS CORP COM 046433108 644 13508 SH OTR 0 13508 0 ASTRONICS CORP COM 046433108 952 19981 SH SOLE 19981 0 0 ATRION CORP COM 049904105 564 1850 SH OTR 0 1850 0 ATRION CORP COM 049904105 1980 6492 SH SOLE 6492 0 0 BENEFICIAL MUTUAL BANCORP IN COM 08173R104 33 2570 SH OTR 0 2570 0 BENEFICIAL MUTUAL BANCORP IN COM 08173R104 318 24916 SH SOLE 24916 0 0 BREEZE EASTERN CORP COM 106764103 135 13000 SH OTR 0 13000 0 CAMDEN NATIONAL CORP COM 133034108 2648 75651 SH OTR 0 75651 0 CAMDEN NATIONAL CORP COM 133034108 1406 40185 SH SOLE 40185 0 0 CENTURY BANCORP INC MASS CL A NON VTG 156432106 915 26450 SH OTR 0 26450 0 CENTURY BANCORP INC MASS CL A NON VTG 156432106 334 9663 SH SOLE 9663 0 0 CHASE CORP COM 16150R104 7273 233705 SH OTR 0 233705 0 CHASE CORP COM 16150R104 5732 184200 SH SOLE 184200 0 0 CHARTER FINL CORP MD COM 16122W108 546 50989 SH OTR 0 50989 0 CHARTER FINL CORP MD COM 16122W108 949 88669 SH SOLE 88669 0 0 CIMATRON LTD ORD M23798107 323 53718 SH OTR 0 53718 0 CIMATRON LTD ORD M23798107 772 128456 SH SOLE 128456 0 0 CITIZENS & NORTHERN CORP COM 172922106 312 16400 SH OTR 0 16400 0 CITIZENS & NORTHERN CORP COM 172922106 504 26500 SH SOLE 26500 0 0 CMS BANCORP INC COM 12600U102 101 7800 SH OTR 0 7800 0 CMS BANCORP INC COM 12600U102 154 11975 SH SOLE 11975 0 0 COMMAND SECURITY CORP COM 20050L100 10 5200 SH OTR 0 5200 0 COMMAND SECURITY CORP COM 20050L100 66 33350 SH SOLE 33350 0 0 COMMUNITY BANK SYS INC COM 203607106 468 13938 SH OTR 0 13938 0 DAWSON GEOPHYSICAL CO COM 239359102 583 32071 SH OTR 0 32071 0 DAWSON GEOPHYSICAL CO COM 239359102 498 27387 SH SOLE 27387 0 0 DELUXE CORP COM 248019101 1986 36000 SH OTR 0 36000 0 DELUXE CORP COM 248019101 485 8800 SH SOLE 8800 0 0 DONEGAL GROUP INC CL B 257701300 264 11450 SH OTR 0 11450 0 DONEGAL GROUP INC CL B 257701300 232 10056 SH SOLE 10056 0 0 DONEGAL GROUP INC CL A 257701201 366 23882 SH OTR 0 23882 0 DONEGAL GROUP INC CL A 257701201 19 1261 SH SOLE 1261 0 0 DORMAN PRODUCTS INC COM 258278100 1213 30260 SH OTR 0 30260 0 DORMAN PRODUCTS INC COM 258278100 636 15880 SH SOLE 15880 0 0 EAGLE BANCORP MONT INC COM 26942G100 90 8400 SH OTR 0 8400 0 EAGLE BANCORP MONT INC COM 26942G100 184 17198 SH SOLE 17198 0 0 EASTERN CO COM 276317104 2368 149429 SH OTR 0 149429 0 EASTERN CO COM 276317104 3524 222345 SH SOLE 222345 0 0 ECOLOGY & ENVRNMT INC CL A 278878103 268 27704 SH OTR 0 27704 0 ECOLOGY & ENVRNMT INC CL A 278878103 417 43170 SH SOLE 43170 0 0 EMCLAIRE FINANCIAL CORP COM 290828102 317 12824 SH OTR 0 12824 0 EMCLAIRE FINANCIAL CORP COM 290828102 63 2535 SH SOLE 2535 0 0 ESCALADE INC COM 296056104 2271 188302 SH OTR 0 188302 0 ESCALADE INC COM 296056104 2145 177858 SH SOLE 177858 0 0 FNB CORP COM 302520101 310 25881 SH OTR 0 25881 0 FNB CORP COM 302520101 847 70665 SH SOLE 70665 0 0 FIRST MERCHANTS CORP COM 320817109 114 5655 SH OTR 0 5655 0 FIRST MERCHANTS CORP COM 320817109 127 6305 SH SOLE 6305 0 0 FOSTER L B CO COM 350060109 3888 84643 SH OTR 0 84643 0 FOSTER L B CO COM 350060109 987 21489 SH SOLE 21489 0 0 GLOBAL POWER EQUIP GP I COM PAR $0.01 37941P306 2578 173047 SH OTR 0 173047 0 GLOBAL POWER EQUIP GP I COM PAR $0.01 37941P306 4319 289862 SH SOLE 289862 0 0 GREAT LAKES DREDGE & DOCK CO COM 390607109 1347 218000 SH OTR 0 218000 0 GREAT LAKES DREDGE & DOCK CO COM 390607109 1590 257227 SH SOLE 257227 0 0 HALLADOR ENERGY COM 40609P105 72 6045 SH OTR 0 6045 0 HALLADOR ENERGY COM 40609P105 126 10675 SH SOLE 10675 0 0 IBERIABANK CORP COM 450828108 1002 16035 SH OTR 0 16035 0 IBERIABANK CORP COM 450828108 617 9877 SH SOLE 9877 0 0 INFUSYSTEM HLDGS INC COM 45685K102 2409 767200 SH OTR 0 767200 0 INFUSYSTEM HLDGS INC COM 45685K102 3771 1200962 SH SOLE 1200962 0 0 INVESTORS BANCORP INC NEW COM 46146L101 250 24711 SH OTR 0 24711 0 INVESTORS BANCORP INC NEW COM 46146L101 689 67990 SH SOLE 67990 0 0 JACKSONVILLE BANCORP INC MD COM 46924R106 255 11703 SH OTR 0 11703 0 JACKSONVILLE BANCORP INC MD COM 46924R106 423 19442 SH SOLE 19442 0 0 JOURNAL COMMUNIC INC CL A 481130102 2170 257440 SH OTR 0 257440 0 JOURNAL COMMUNIC INC CL A 481130102 2779 329637 SH SOLE 329637 0 0 KAPSTONE PAPER & PACKAGING CORP COM 48562P103 6786 242624 SH OTR 0 242624 0 KAPSTONE PAPER & PACKAGING CORP COM 48562P103 10546 377050 SH SOLE 377050 0 0 KIMCO RLTY CORP COM 49446R109 493 22500 SH OTR 0 22500 0 KOSS CORP COM 500692108 44 22800 SH OTR 0 22800 0 KOSS CORP COM 500692108 41 21694 SH SOLE 21694 0 0 LAKE SHORE BANCORP INC COM 510700107 118 9400 SH OTR 0 9400 0 LAKE SHORE BANCORP INC COM 510700107 254 20269 SH SOLE 20269 0 0 MALVERN BANCORP INC COM 561409103 1367 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 56 36651 SH OTR 0 36651 0 MER TELEMANAGEMENT SOLUTIONS SHS M69676126 214 140882 SH SOLE 140882 0 0 MOLYCORP INC DEL COM 608753109 19 15593 SH OTR 0 15593 0 MOLYCORP INC DEL COM 608753109 18 15541 SH SOLE 15541 0 0 MUTUALFIRST FINL INC COM 62845B104 562 25260 SH OTR 0 25260 0 MUTUALFIRST FINL INC COM 62845B104 126 5666 SH SOLE 5666 0 0 NAVIGATOR HOLDINGS LTD COM Y62132108 2681 96322 SH OTR 0 96322 0 NAVIGATOR HOLDINGS LTD COM Y62132108 4888 175637 SH SOLE 175637 0 0 NORTHWEST BANCSHARES INC MD COM 667340103 545 45000 SH OTR 0 45000 0 NORTHWEST BANCSHARES INC MD COM 667340103 346 28625 SH SOLE 28625 0 0 NORWOOD FINANCIAL CORP COM 669549107 171 5973 SH OTR 0 5973 0 NORWOOD FINANCIAL CORP COM 669549107 251 8764 SH SOLE 8764 0 0 OCONEE FED FINL CORP COM 675607105 199 11451 SH OTR 0 11451 0 OCONEE FED FINL CORP COM 675607105 199 11451 SH SOLE 11451 0 0 ONVIA INC COM NEW 68338T403 605 137200 SH OTR 0 137200 0 ONVIA INC COM NEW 68338T403 1170 265353 SH SOLE 265353 0 0 PATHFINDER BANCORP INC COM 70320A103 460 32370 SH OTR 0 32370 0 PATHFINDER BANCORP INC COM 70320A103 879 61822 SH SOLE 61822 0 0 PDI INC COM 69329V100 22 9323 SH OTR 0 9323 0 PDI INC COM 69329V100 31 12872 SH SOLE 12872 0 0 PEOPLES UNITED FINL INC COM 712704105 210 14518 SH SOLE 14518 0 0 PMFG INC COM 69345P103 1752 350324 SH OTR 0 350324 0 PMFG INC COM 69345P103 2275 454966 SH SOLE 454966 0 0 PROASSURANCE CORP COM 74267C106 848 19244 SH OTR 0 19244 0 PROASSURANCE CORP 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SUPERIOR UNIF GRP INC COM 868358102 71 3300 SH SOLE 3300 0 0 TF FINANCIAL CORP COM 872391107 1526 36855 SH OTR 0 36855 0 TF FINANCIAL CORP COM 872391107 1311 31658 SH SOLE 31658 0 0 TIGER MEDIA INC SHS G88685105 13 24600 SH OTR 0 24600 0 TRANSCAT INC COM 893529107 1406 153794 SH OTR 0 153794 0 TRANSCAT INC COM 893529107 2376 259960 SH SOLE 259960 0 0 UNIVERSAL STAINLESS & ALLOY COM 913837100 735 27900 SH OTR 0 27900 0 UNIVERSAL STAINLESS & ALLOY COM 913837100 47 1800 SH SOLE 1800 0 0 US LIME & MINERAL COM 911922102 3416 58809 SH OTR 0 58809 0 US LIME & MINERAL COM 911922102 2868 49373 SH SOLE 49373 0 0 VIRCO MANUFACTURING CO COM 927651109 1109 431433 SH OTR 0 431433 0 VIRCO MANUFACTURING CO COM 927651109 1485 577705 SH SOLE 577705 0 0 WATERSTONE FINANCIAL INC MD COM 94188P101 871 75421 SH SOLE 75421 0 0 WPX ENERGY INC COM 98212B103 488 20300 SH OTR 0 20300 0 WPX ENERGY INC COM 98212B103 902 37500 SH SOLE 37500 0 0