AEGIS FINANCIAL CORP — 13F Holdings & Portfolio
CIK 1140753 · latest 13F-HR filed 2026-05-13
AEGIS FINANCIAL CORP manages $580.5M in 13F-reported U.S. long-equity assets across 37 reported positions as of its 2026-03-31 13F-HR filing. Its largest disclosed positions are CVE (15.78%), EQX (9.63%), PDS (8.52%). Quarter over quarter (versus its 2025-12-31 filing) the fund opened 5 new positions, exited 1, added to 17, and trimmed 7.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
$580.5M
Long-equity book
37
Distinct positions
2026-03-31
Filed 2026-05-13
+5 / −1 / ↑17 / ↓7
vs 2025-12-31
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- CENOVUS ENERGY INC$33.1M +56.7%
- VERMILION ENERGY INC$24.2M +219.7%
- PRECISION DRILLING CORP$13.2M +36.5%
- PBF ENERGY INC$12.7M +75.6%
- TIDEWATER INC NEW$9.1M +65.4%
Top Trims
- EQUINOX GOLD CORP-$7.1M -11.3%
- HALLADOR ENERGY COMPANY-$5.0M -14.5%
- NORTH AMERN CONSTR GROUP LTD-$1.0M -6.7%
- BASSETT FURNITURE INDS INC-$941.7K -11.2%
- ISHARES SILVER TR-$537.6K -47.2%
New Positions
- HARLEY DAVIDSON INC$27.7M
- SM ENERGY COMPANY$17.2M
- RADIAN GROUP INC$9.8M
- ACACIA RESH CORP$2.4M
- WEST FRASER TIMBER LTD$204.6K
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | CENOVUS ENERGY INC | CVE | 15135U109 | $91.6M | 15.78% | 3,451,821 | SH |
| 2 | EQUINOX GOLD CORP | EQX | 29446Y502 | $55.9M | 9.63% | 3,880,964 | SH |
| 3 | PRECISION DRILLING CORP | PDS | 74022D407 | $49.5M | 8.52% | 504,059 | SH |
| 4 | VERMILION ENERGY INC | VET | 923725105 | $35.2M | 6.06% | 2,560,428 | SH |
| 5 | PBF ENERGY INC | PBF | 69318G106 | $29.5M | 5.09% | 620,289 | SH |
| 6 | HALLADOR ENERGY COMPANY | HNRG | 40609P105 | $29.5M | 5.09% | 1,814,026 | SH |
| 7 | ADVANSIX INC | ASIX | 00773T101 | $29.5M | 5.08% | 1,209,629 | SH |
| 8 | HARLEY DAVIDSON INC | HOG | 412822108 | $27.7M | 4.77% | 1,369,000 | SH |
| 9 | RYERSON HLDG CORP | RYZ | 783754104 | $25.1M | 4.33% | 1,116,978 | SH |
| 10 | TIDEWATER INC NEW | TDW | 88642R109 | $23.1M | 3.98% | 276,529 | SH |
| 11 | NATURAL GAS SVCS GROUP INC | NGS | 63886Q109 | $22.2M | 3.82% | 587,012 | SH |
| 12 | MOSAIC CO | MOS | 61945C103 | $21.8M | 3.75% | 853,638 | SH |
| 13 | SM ENERGY COMPANY | SM | 78454L100 | $17.2M | 2.96% | 551,769 | SH |
| 14 | GALIANO GOLD INC | GAU | 36352H100 | $16.0M | 2.75% | 6,409,321 | SH |
| 15 | RLJ LODGING TR | RLJ | 74965L101 | $14.8M | 2.56% | 1,999,425 | SH |
| 16 | NORTH AMERN CONSTR GROUP LTD | NOA | 656811106 | $14.0M | 2.41% | 1,038,177 | SH |
| 17 | ELDORADO GOLD CORP NEW | EGO | 284902509 | $13.3M | 2.29% | 387,779 | SH |
| 18 | ENERFLEX LTD | EFXT | 29269R105 | $11.5M | 1.98% | 551,151 | SH |
| 19 | RADIAN GROUP INC | RDN | 750236101 | $9.8M | 1.68% | 295,274 | SH |
| 20 | BASSETT FURNITURE INDS INC | BSET | 070203104 | $7.5M | 1.28% | 526,997 | SH |
| 21 | ALGOMA STL GROUP INC | ASTL | 015658107 | $7.4M | 1.27% | 1,786,122 | SH |
| 22 | FIRST INTERNET BANCORP | INBK | 320557101 | $7.2M | 1.24% | 354,261 | SH |
| 23 | CHATHAM LODGING TR | CLDT | 16208T102 | $5.3M | 0.92% | 678,530 | SH |
| 24 | GREENFIRE RES LTD NEW | GFR | 39525U107 | $2.6M | 0.45% | 417,548 | SH |
| 25 | ACACIA RESH CORP | ACTG | 003881307 | $2.4M | 0.41% | 491,086 | SH |
| 26 | VILLAGE SUPER MKT INC | VLGEA | 927107409 | $2.4M | 0.41% | 55,733 | SH |
| 27 | I-80 GOLD CORP | IAUX | 44955L106 | $1.7M | 0.29% | 1,126,349 | SH |
| 28 | WESTWOOD HLDGS GROUP INC | WHG | 961765104 | $1.6M | 0.28% | 99,926 | SH |
| 29 | HENNESSY ADVISORS INC | HNNA | 425885100 | $1.4M | 0.24% | 141,353 | SH |
| 30 | ARDMORE SHIPPING CORP | ASC | Y0207T100 | $1.4M | 0.24% | 89,612 | SH |
| 31 | ISHARES SILVER TR | SLV | 46428Q109 | $602.5K | 0.10% | 8,842 | SH |
| 32 | SOLITARIO RESOURCES CORP | XPL | 8342EP107 | $518.6K | 0.09% | 632,458 | SH |
| 33 | MERCER INTL INC | MERC | 588056101 | $438.7K | 0.08% | 308,927 | SH |
| 34 | SPROTT ASSET MANAGEMENT LP | CEF | 85208R101 | $356.7K | 0.06% | 7,474 | SH |
| 35 | SPDR GOLD TR | GLD | 78463V107 | $356.3K | 0.06% | 828 | SH |
| 36 | WEST FRASER TIMBER LTD | WFG | 952845105 | $204.6K | 0.04% | 3,142 | SH |
| 37 | DAKOTA GOLD CORP | DC | 46655E100 | $151.5K | 0.03% | 30,000 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-03-31 | 2026-05-13 | $580.5M | 37 | 0001104659-26-060221 |
| 2025-12-31 | 2026-02-12 | $419.3M | 33 | 0001104659-26-013708 |
| 2025-09-30 | 2025-11-12 | $261.3M | 26 | 0001104659-25-109773 |