AEGIS FINANCIAL CORP

CIK

1140753

Location

MC LEAN, VA

Portfolio Value

Small $581,191,810

Diversification

Diversified

Filing Date

Global Rank

#2,425 / 8,622 ▲ 534 · as of Mar 2026

Top Industry

Oil & Gas Integrated 15.8%

3Y Alpha vs SPY

+16.9%

Period ended 4 months ago

Filed May 13, 2026 · 3mo

14 quarters · since Dec 2022

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Cloned portfolio

+146.4%

SPY

+67.9%

Annualised alpha

+16.2%

Max drawdown

−28.3%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

37 tracked 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 tracked 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%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.