Athena Capital Management

Athena Capital Management as of March 31, 2011

Portfolio Holdings for Athena Capital Management

Athena Capital Management holds 99 positions in its portfolio as reported in the March 2011 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
PMFG 9.8 $14M 638k 21.26
Chase Corporation 5.6 $7.7M 416k 18.58
KapStone Paper and Packaging 5.5 $7.7M 449k 17.17
Global Power Equipment Grp I 4.6 $6.4M 233k 27.45
KapStone Paper and Packaging 3.9 $5.4M 312k 17.17
InfuSystem Holdings (INFU) 3.6 $5.0M 1.9M 2.70
Dorman Products (DORM) 3.4 $4.7M 113k 42.03
Global Power Equipment Grp I 3.2 $4.4M 160k 27.45
Apco Oil And Gas Internat 3.1 $4.4M 51k 85.76
Belo 3.1 $4.3M 492k 8.81
Astronics Corporation (ATRO) 3.1 $4.3M 170k 25.08
Camden National Corporation (CAC) 2.9 $4.1M 119k 34.24
L.B. Foster Company (FSTR) 2.8 $3.8M 89k 43.08
E.W. Scripps Company (SSP) 2.2 $3.0M 306k 9.90
Globecomm Systems 2.0 $2.8M 227k 12.32
Dawson Geophysical Company 1.9 $2.7M 62k 43.83
Virco Mfg. Corporation (VIRC) 1.9 $2.6M 836k 3.15
U.S. Lime & Minerals (USLM) 1.8 $2.5M 63k 40.03
Eastern Company (EML) 1.7 $2.4M 124k 19.12
Globecomm Systems 1.6 $2.2M 178k 12.32
A. H. Belo Corporation 1.3 $1.9M 221k 8.36
A. H. Belo Corporation 1.2 $1.7M 202k 8.36
Ampco-Pittsburgh (AP) 1.2 $1.7M 61k 27.57
Atrion Corporation (ATRI) 1.2 $1.6M 9.4k 174.00
Journal Communications 1.2 $1.6M 273k 6.00
Onvia 1.2 $1.6M 394k 4.15
Escalade (ESCA) 1.2 $1.6M 296k 5.54
Ecology and Environment 1.1 $1.6M 83k 19.19
Great Lakes Dredge & Dock Corporation (GLDD) 1.1 $1.5M 203k 7.62
U.S. Lime & Minerals (USLM) 1.1 $1.6M 39k 40.02
Great Lakes Dredge & Dock Corporation (GLDD) 1.1 $1.5M 197k 7.62
Journal Communications 1.1 $1.5M 249k 6.00
Deluxe Corporation (DLX) 0.9 $1.2M 45k 26.54
TF Financial Corporation 0.8 $1.2M 57k 20.74
Asml Holding Nv Adr depository receipts 0.8 $1.1M 25k 44.50
Universal Stainless & Alloy Products (USAP) 0.7 $998k 30k 33.60
Gtsi 0.7 $988k 216k 4.57
Capital Senior Living Corporation 0.7 $941k 89k 10.62
Gtsi 0.7 $927k 203k 4.57
Northwest Bancshares (NWBI) 0.7 $923k 74k 12.53
Penn Millers Holding Corporation 0.7 $910k 64k 14.17
ProAssurance Corporation (PRA) 0.7 $899k 14k 63.40
Pathfinder Ban 0.6 $856k 93k 9.25
L.B. Foster Company (FSTR) 0.6 $827k 19k 43.10
Teche Holding Company 0.6 $811k 22k 36.38
EDAC Technologies Corporation 0.5 $734k 220k 3.33
Century Ban 0.5 $708k 27k 26.77
Charter Financial Corporation 0.5 $701k 70k 10.01
Oba Financial Services 0.4 $512k 35k 14.47
Aerosonic Corporation 0.3 $483k 169k 2.86
Citizens & Northern Corporation (CZNC) 0.3 $454k 27k 16.81
Providence & Worcester Railroad Company 0.3 $451k 27k 16.71
Charter Financial Corporation 0.3 $450k 45k 10.00
Danvers Ban (DNBK) 0.3 $428k 20k 21.40
Kimco Realty Corporation (KIM) 0.3 $413k 23k 18.36
Donegal (DGICB) 0.3 $376k 22k 16.75
Alliance Fiber Optic Products 0.3 $358k 32k 11.17
PT GA Cimatron Ltd ord 0.2 $342k 93k 3.69
Community Bank System (CBU) 0.2 $338k 14k 24.25
Donegal (DGICA) 0.2 $333k 25k 13.23
Citizens & Northern Corporation (CZNC) 0.2 $335k 20k 16.83
Aerosonic Corporation 0.2 $331k 116k 2.86
Roma Financial Corporation 0.2 $310k 28k 11.07
MutualFirst Financial 0.2 $312k 34k 9.20
Koss Corporation (KOSS) 0.2 $290k 39k 7.37
Eagle Ban (EBMT) 0.2 $297k 25k 11.67
Jacksonville Ban 0.2 $274k 19k 14.09
Century Ban 0.2 $259k 9.7k 26.80
Argan (AGX) 0.2 $251k 29k 8.58
United Online 0.2 $217k 35k 6.29
Beneficial Mutual Ban 0.1 $215k 25k 8.63
BCSB Ban 0.1 $211k 16k 13.08
Oconee Fed Finl Corp (OFED) 0.1 $202k 23k 8.82
Mod-pac 0.1 $189k 31k 6.10
Investors Ban 0.1 $179k 12k 14.92
Superior Uniform (SGC) 0.1 $165k 15k 11.38
Fox Chase Ban 0.1 $149k 11k 13.94
Jacksonville Ban 0.1 $149k 12k 12.74
Mod-pac 0.1 $125k 21k 6.08
CMS Ban 0.1 $105k 12k 8.77
Breeze-Eastern Corporation 0.1 $112k 13k 8.62
PT GA Cimatron Ltd ord 0.1 $111k 30k 3.68
CFS Ban 0.1 $100k 18k 5.59
AmeriServ Financial (ASRV) 0.1 $94k 41k 2.29
Searchmedia Hldgs 0.1 $103k 57k 1.83
Aehr Test Systems 0.1 $85k 41k 2.09
CMS Ban 0.1 $68k 7.8k 8.72
Exceed Company Ltd unit 0.0 $52k 32k 1.65
Mer Telemanagement 0.0 $60k 34k 1.78
Alliance Fiber Optic Products 0.0 $48k 4.3k 11.16
Aehr Test Systems (AEHR) 0.0 $38k 18k 2.10
Giga-tronics, Incorporated 0.0 $35k 13k 2.68
CFS Ban 0.0 $31k 5.5k 5.64
AmeriServ Financial (ASRV) 0.0 $26k 11k 2.32
Exceed Company Ltd unit 0.0 $27k 16k 1.69
Mer Telemanagement 0.0 $29k 17k 1.75
Yadkin Valley Financial 0.0 $11k 5.1k 2.17
Superior Uniform (SGC) 0.0 $11k 1.0k 11.00
Searchmedia Holdings Ltd *w exp 11/19/201 0.0 $3.0k 25k 0.12