AEGIS FINANCIAL CORP Long-Term Concentrated

Location: Mc Lean, VA

CIK: 0001140753 · Show all filings

Period: Q1 2026 (← Previous) (Next →)

Filing Date: May 13, 2026

Total Value: $580M (100.0% shares, 0.0% debt)

Holdings (37)

CVE CENOVUS ENERGY INC 15.8%

Value $91.58M Shares 3,451,821 Est. Cost $16.90 Unrealized +16.0%

EQX EQUINOX GOLD CORP 9.6%

Value $55.88M Shares 3,880,964 Est. Cost $4.87 Unrealized +218.5%

PDS PRECISION DRILLING CORP 8.5%

Value $49.45M Shares 504,059 Est. Cost $56.91 Unrealized +41.1%

VET VERMILION ENERGY INC 6.1%

Value $35.18M Shares 2,560,428 Est. Cost $8.58 Unrealized +10.6%

PBF PBF ENERGY INC 5.1%

Value $29.54M Shares 620,289 Est. Cost $19.01 Unrealized +73.5%

HNRG HALLADOR ENERGY COMPANY 5.1%

Value $29.53M Shares 1,814,026 Est. Cost $8.24 Unrealized +132.8%

ASIX ADVANSIX INC 5.1%

Value $29.51M Shares 1,209,629 Est. Cost $17.36 Unrealized +1.7%

HOG HARLEY DAVIDSON INC 4.8%

Value $27.68M Shares 1,369,000 Est. Cost $20.30 Unrealized 0.0%

RYZ RYERSON HLDG CORP 4.3%

Value $25.11M Shares 1,116,978 Est. Cost $24.86 Unrealized +12.9%

TDW TIDEWATER INC NEW 4.0%

Value $23.1M Shares 276,529 Est. Cost $47.23 Unrealized +35.6%

NGS NATURAL GAS SVCS GROUP INC 3.8%

Value $22.15M Shares 587,012 Est. Cost $10.23 Unrealized +246.4%

MOS MOSAIC CO 3.7%

Value $21.77M Shares 853,638 Est. Cost $26.75 Unrealized +4.2%

SM SM ENERGY COMPANY 3.0%

Value $17.2M Shares 551,769 Est. Cost $19.89 Unrealized 0.0%

GAU GALIANO GOLD INC 2.8%

Value $15.98M Shares 6,409,321 Est. Cost $1.40 Unrealized +105.6%

RLJ RLJ LODGING TR 2.6%

Value $14.84M Shares 1,999,425 Est. Cost $7.44 Unrealized —

NOA NORTH AMERN CONSTR GROUP LTD 2.4%

Value $13.96M Shares 1,038,177 Est. Cost $14.50 Unrealized +7.3%

EGO ELDORADO GOLD CORP NEW 2.3%

Value $13.28M Shares 387,779 Est. Cost $7.12 Unrealized +499.1%

EFXT ENERFLEX LTD 2.0%

Value $11.49M Shares 551,151 Est. Cost $5.50 Unrealized +218.8%

RDN RADIAN GROUP INC 1.7%

Value $9.768M Shares 295,274 Est. Cost $33.73 Unrealized 0.0%

BSET BASSETT FURNITURE INDS INC 1.3%

Value $7.457M Shares 526,997 Est. Cost $14.34 Unrealized +10.1%

ASTL ALGOMA STL GROUP INC 1.3%

Value $7.377M Shares 1,786,122 Est. Cost $6.49 Unrealized -31.0%

INBK FIRST INTERNET BANCORP 1.2%

Value $7.22M Shares 354,261 Est. Cost $20.50 Unrealized +4.6%

CLDT CHATHAM LODGING TR 0.9%

Value $5.34M Shares 678,530 Est. Cost $6.81 Unrealized —

GFR GREENFIRE RES LTD NEW 0.5%

Value $2.639M Shares 417,548 Est. Cost $5.12 Unrealized +5.4%

ACTG ACACIA RESH CORP 0.4%

Value $2.362M Shares 491,086 Est. Cost $3.94 Unrealized 0.0%

VLGEA VILLAGE SUPER MKT INC 0.4%

Value $2.354M Shares 55,733 Est. Cost $34.33 Unrealized +6.8%

IAUX I-80 GOLD CORP 0.3%

Value $1.703M Shares 1,126,349 Est. Cost $2.30 Unrealized -23.4%

WHG WESTWOOD HLDGS GROUP INC 0.3%

Value $1.646M Shares 99,926 Est. Cost $10.53 Unrealized +67.6%

HNNA HENNESSY ADVISORS INC 0.2%

Value $1.378M Shares 141,353 Est. Cost $7.13 Unrealized +41.1%

ASC ARDMORE SHIPPING CORP 0.2%

Value $1.367M Shares 89,612 Est. Cost $7.85 Unrealized +61.9%

SLV ISHARES SILVER TR 0.1%

Value $602K Shares 8,842 Est. Cost $22.02 Unrealized —

XPL SOLITARIO RESOURCES CORP 0.1%

Value $519K Shares 632,458 Est. Cost $0.39 Unrealized +89.4%

MERC MERCER INTL INC 0.1%

Value $439K Shares 308,927 Est. Cost $7.06 Unrealized -69.6%

CEF SPROTT ASSET MANAGEMENT LP 0.1%

Value $357K Shares 7,474 Est. Cost $28.41 Unrealized —

GLD SPDR GOLD TR 0.1%

Value $356K Shares 828 Est. Cost $191.17 Unrealized —

WFG WEST FRASER TIMBER LTD 0.0%

Value $205K Shares 3,142 Est. Cost $69.34 Unrealized 0.0%

— DAKOTA GOLD CORP 0.0%

Value $152K Shares 30,000 Est. Cost $5.05 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CVE	CENOVUS ENERGY INC	3,451,821	$91.58M	15.8%	$16.90	+16.0%	COM	15135U109
EQX	EQUINOX GOLD CORP	3,880,964	$55.88M	9.6%	$4.87	+218.5%	COM	29446Y502
PDS	PRECISION DRILLING CORP	504,059	$49.45M	8.5%	$56.91	+41.1%	COM NEW	74022D407
VET	VERMILION ENERGY INC	2,560,428	$35.18M	6.1%	$8.58	+10.6%	COM	923725105
PBF	PBF ENERGY INC	620,289	$29.54M	5.1%	$19.01	+73.5%	CL A	69318G106
HNRG	HALLADOR ENERGY COMPANY	1,814,026	$29.53M	5.1%	$8.24	+132.8%	COM	40609P105
ASIX	ADVANSIX INC	1,209,629	$29.51M	5.1%	$17.36	+1.7%	COM	00773T101
HOG	HARLEY DAVIDSON INC	1,369,000	$27.68M	4.8%	$20.30	0.0%	COM	412822108
RYZ	RYERSON HLDG CORP	1,116,978	$25.11M	4.3%	$24.86	+12.9%	COM	783754104
TDW	TIDEWATER INC NEW	276,529	$23.1M	4.0%	$47.23	+35.6%	COM	88642R109
NGS	NATURAL GAS SVCS GROUP INC	587,012	$22.15M	3.8%	$10.23	+246.4%	COM	63886Q109
MOS	MOSAIC CO	853,638	$21.77M	3.7%	$26.75	+4.2%	COM	61945C103
SM	SM ENERGY COMPANY	551,769	$17.2M	3.0%	$19.89	0.0%	COM	78454L100
GAU	GALIANO GOLD INC	6,409,321	$15.98M	2.8%	$1.40	+105.6%	COM	36352H100
RLJ	RLJ LODGING TR	1,999,425	$14.84M	2.6%	$7.44	—	COM	74965L101
NOA	NORTH AMERN CONSTR GROUP LTD	1,038,177	$13.96M	2.4%	$14.50	+7.3%	COM	656811106
EGO	ELDORADO GOLD CORP NEW	387,779	$13.28M	2.3%	$7.12	+499.1%	COM	284902509
EFXT	ENERFLEX LTD	551,151	$11.49M	2.0%	$5.50	+218.8%	COM	29269R105
RDN	RADIAN GROUP INC	295,274	$9.768M	1.7%	$33.73	0.0%	COM	750236101
BSET	BASSETT FURNITURE INDS INC	526,997	$7.457M	1.3%	$14.34	+10.1%	COM	070203104
ASTL	ALGOMA STL GROUP INC	1,786,122	$7.377M	1.3%	$6.49	-31.0%	COM	015658107
INBK	FIRST INTERNET BANCORP	354,261	$7.22M	1.2%	$20.50	+4.6%	COM	320557101
CLDT	CHATHAM LODGING TR	678,530	$5.34M	0.9%	$6.81	—	COM	16208T102
GFR	GREENFIRE RES LTD NEW	417,548	$2.639M	0.5%	$5.12	+5.4%	COM SHS	39525U107
ACTG	ACACIA RESH CORP	491,086	$2.362M	0.4%	$3.94	0.0%	ACACIA TCH COM	003881307
VLGEA	VILLAGE SUPER MKT INC	55,733	$2.354M	0.4%	$34.33	+6.8%	CL A NEW	927107409
IAUX	I-80 GOLD CORP	1,126,349	$1.703M	0.3%	$2.30	-23.4%	COM	44955L106
WHG	WESTWOOD HLDGS GROUP INC	99,926	$1.646M	0.3%	$10.53	+67.6%	COM	961765104
HNNA	HENNESSY ADVISORS INC	141,353	$1.378M	0.2%	$7.13	+41.1%	COM	425885100
ASC	ARDMORE SHIPPING CORP	89,612	$1.367M	0.2%	$7.85	+61.9%	COM	Y0207T100
SLV	ISHARES SILVER TR	8,842	$602K	0.1%	$22.02	—	ISHARES	46428Q109
XPL	SOLITARIO RESOURCES CORP	632,458	$519K	0.1%	$0.39	+89.4%	COM	8342EP107
MERC	MERCER INTL INC	308,927	$439K	0.1%	$7.06	-69.6%	COM	588056101
CEF	SPROTT ASSET MANAGEMENT LP	7,474	$357K	0.1%	$28.41	—	PHYSICAL GOLD AN	85208R101
GLD	SPDR GOLD TR	828	$356K	0.1%	$191.17	—	GOLD SHS	78463V107
WFG	WEST FRASER TIMBER LTD	3,142	$205K	0.0%	$69.34	0.0%	COM	952845105
—	DAKOTA GOLD CORP	30,000	$152K	0.0%	$5.05	—	COM	46655e100