AEGIS FINANCIAL CORP

CIK

1140753

Location

MC LEAN, VA

Portfolio Value

Small $581,191,810

Diversification

Diversified

Filing Date

Global Rank

#2,129 / 8,232 ▲ 615

Top Industry

Oil & Gas Integrated 15.8%

3Y Alpha vs SPY

+18.4%

Period ended 2 months ago

Filed May 13, 2026 · 32d

14 quarters · since Dec 2022

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+169.6%

SPY

+76.3%

Annualised alpha

+18.4%

Max drawdown

−28.3%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

37 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

15.8%

+0.7 pts

Top 5

45.1%

−6.5 pts

Top 10

68.3%

−5.5 pts

HHI

662

Diversified−101

Portfolio Trend

14 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Energy	51.0%	$296,622,667	10
Basic Materials	25.3%	$147,203,968	11
Consumer Cyclical	6.0%	$35,138,187	2
Utilities	5.1%	$29,532,343	1
Industrials	5.0%	$28,838,371	3
Financial Services	3.5%	$20,368,133	5
Real Estate	3.5%	$20,175,764	2
Consumer Defensive	0.4%	$2,353,604	1
Unclassified	0.2%	$958,773	2

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

6 positions

Ticker	Company	Δ Shares	Shares	Value
VET	Vermilion Energy Inc.	+1,239,936	2,560,428	$35,282,697
RLJ	RLJ Lodging Trust	+727,608	1,999,425	$14,835,733
RYZ	Ryerson Holding Corp	+409,588	1,116,978	$25,109,665
GFR	Greenfire Resources Ltd.	+238,417	417,548	$2,638,903
INBK	First Internet Bancorp	+103,941	354,261	$7,219,839
BSET	Bassett Furniture Industries Inc	+25,878	526,997	$7,457,007
No positions match the current search.

Trimmed

Positions the filer reduced

4 positions

Ticker	Company	Δ Shares	Shares	Value
EQX	Equinox Gold Corp.	−593,125	3,880,964	$56,118,739
NGS	Natural Gas Services Group Inc	−84,100	587,012	$22,153,832
SLV	iShares Silver Trust	−8,856	8,842	$602,493
CVE	Cenovus Energy Inc.	−2,300	3,451,821	$91,576,811
No positions match the current search.

New Positions

Positions the filer opened this quarter

5 positions

Ticker	Company	Shares	Value
HOG	Harley-Davidson, Inc.	1,369,000	$27,681,180
SM	SM Energy Co	551,769	$17,204,157
RDN	Radian Group Inc	295,274	$9,767,663
ACTG	Acacia Research Corp	491,086	$2,362,123
WFG	West Fraser Timber Co., Ltd	3,142	$205,141
No positions match the current search.

Sold Out

Positions the filer fully exited

No qualifying positions this quarter.

Portfolio Positions

Compact Export CSV View 13F filing

37 positions · $581,191,810 total · as of Mar 31, 2026

All sectors Basic Materials Consumer Cyclical Consumer Defensive Energy Financial Services Industrials Real Estate Utilities

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
CVE	Cenovus Energy Inc. Energy	Reduced	3,451,821	-2,300	$91,576,811	+56.7%	15.76%
EQX	Equinox Gold Corp. Basic Materials	Reduced	3,880,964	-593,125	$56,118,739	−10.7%	9.66%
PDS	PRECISION DRILLING Corp Energy	Held	504,059	0	$49,599,405	+36.9%	8.53%
VET	Vermilion Energy Inc. Energy	Added	2,560,428	+1,239,936	$35,282,697	+220.4%	6.07%
PBF	PBF Energy Inc. Energy	Held	620,289	0	$29,538,162	+75.6%	5.08%
HNRG	Hallador Energy Co Utilities	Held	1,814,026	0	$29,532,343	−14.5%	5.08%
ASIX	AdvanSix Inc. Basic Materials	Held	1,209,629	0	$29,514,947	+41.0%	5.08%
HOG	Harley-Davidson, Inc. Consumer Cyclical	NEW	1,369,000	NEW	$27,681,180	NEW	4.76%
RYZ	Ryerson Holding Corp Industrials	Added	1,116,978	+409,588	$25,109,665	+41.1%	4.32%
TDW	Tidewater Inc Energy	Held	276,529	0	$23,103,997	+65.4%	3.98%
NGS	Natural Gas Services Group Inc Energy	Reduced	587,012	-84,100	$22,153,832	−1.9%	3.81%
MOS	Mosaic Co Basic Materials	Held	853,638	0	$21,767,769	+5.9%	3.75%
SM	SM Energy Co Energy	NEW	551,769	NEW	$17,204,157	NEW	2.96%
GAU	Galiano Gold Inc. Basic Materials	Held	6,409,321	0	$16,087,395	−0.8%	2.77%
RLJ	RLJ Lodging Trust Real Estate	Added	1,999,425	+727,608	$14,835,733	+56.6%	2.55%
NOA	North American Construction Group Ltd. Energy	Held	1,038,177	0	$13,994,625	−6.2%	2.41%
EGO	Eldorado Gold Corp /Fi Basic Materials	Held	387,779	0	$13,312,453	−4.4%	2.29%
EFXT	Enerflex Ltd. Energy	Held	551,151	0	$11,530,078	+35.6%	1.98%
RDN	Radian Group Inc Financial Services	NEW	295,274	NEW	$9,767,663	NEW	1.68%
BSET	Bassett Furniture Industries Inc Consumer Cyclical	Added	526,997	+25,878	$7,457,007	−11.2%	1.28%
ASTL	Algoma Steel Group Inc. Basic Materials	Held	1,786,122	0	$7,376,683	+0.7%	1.27%
INBK	First Internet Bancorp Financial Services	Added	354,261	+103,941	$7,219,839	+38.2%	1.24%
CLDT	Chatham Lodging Trust Real Estate	Held	678,530	0	$5,340,031	+15.6%	0.92%
GFR	Greenfire Resources Ltd. Energy	Added	417,548	+238,417	$2,638,903	+209.5%	0.45%
ACTG	Acacia Research Corp Industrials	NEW	491,086	NEW	$2,362,123	NEW	0.41%
VLGEA	Village Super Market Inc Consumer Defensive	Held	55,733	0	$2,353,604	+19.3%	0.40%
IAUX	i-80 Gold Corp. Basic Materials	Held	1,126,349	0	$1,712,050	+4.1%	0.29%
WHG	Westwood Holdings Group Inc Financial Services	Held	99,926	0	$1,645,781	−4.3%	0.28%
HNNA	Hennessy Advisors Inc Financial Services	Held	141,353	0	$1,378,191	+1.6%	0.24%
ASC	Ardmore Shipping Corp Industrials	Held	89,612	0	$1,366,583	+44.0%	0.24%
SLV	iShares Silver Trust	Reduced	8,842	-8,856	$602,493	−47.2%	0.10%
XPL	Solitario Resources Corp. Basic Materials	Held	632,458	0	$518,615	+17.1%	0.09%
MERC	Mercer International Inc. Basic Materials	Held	308,927	0	$438,676	−28.3%	0.08%
CEF	Sprott Physical Gold & Silver Trust Financial Services	Held	7,474	0	$356,659	+4.2%	0.06%
GLD	Spdr Gold Trust	Held	828	0	$356,280	+8.6%	0.06%
WFG	West Fraser Timber Co., Ltd Basic Materials	NEW	3,142	NEW	$205,141	NEW	0.04%
DC	Dakota Gold Corp. Basic Materials	Held	30,000	0	$151,500	−11.1%	0.03%