Minerva Advisors LLC

Q1 2014 13F Holdings Report, Stock Holdings

Signature - Title
Beth N. Lowson - Attorney-In-Fact for David P. Cohen, President of Minerva
Location
Bala Cynwyd, PA
Holdings as of
31 Mar 2014
Value $
$168,746,000
Num holdings
79
Filing time
12 May 2014, 16:31:27 UTC
Form type
13F-HR
Description
All US holdings of this investor are reported in this report. Top holdings included KS, CCF, GLPW, NVGS, and AHC.
Previous filing
Q4 2013 - 10 Feb 2014
Next filing
Q2 2014 - 25 Jul 2014
Sym Weight Trade Impact Company Class Share Change Activity Value Change $ Value $ * Price $ Shares Principal
Filing 2014 Q1 compared to 2013 Q4 by default. Changes are calculated vs the previous SEC filing.
* Reported Price is the price of the security as of the portfolio date. This value is significant in that it is the last known price at which the security was still held.
An asterisk sign (*) next to the price indicates that the price is likely invalid.

Person Signing this Report on Behalf of Reporting Manager:

Name Title City, State Date
Beth N. Lowson Attorney-In-Fact for David P. Cohen, President of Minerva White Plains, New York 06 May 2014

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.