Filed: 8/11/2025ACC: 0001104659-25-075834
📋 What this filing means
AEGIS FINANCIAL CORP filed this quarterly 13F‑HR report disclosing 25 equity positions with a total reported market value of $169.88M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
25
Positions
$169.88M
Total AUM (reported)
21.67M
Total Shares
Allocation by class
COM$143.94M84.7%
CL A$13.45M7.9%
COM NEW$10.85M6.4%
ISHARES$1.16M0.7%
GOLD SHS$252.4K0.1%
TR UNIT$225.0K0.1%
Portfolio Concentration
Top 3$76.97M45.3%
4–10$72.57M42.7%
11–25$20.33M12.0%
Top 3 weight
45.3%
Top 10 weight
88.0%
Voting Authority Distribution
Total shares with voting rights: 21.67M
Sole
Full voting authority
21.67M
shares
% of voting shares100.0%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
0.00
shares
% of voting shares0.0%
Investment Discretion (by position count)
Sole25
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings25
Rows:
HALLADOR ENERGY COMPANY
SOLEShares2.01M
TypeSH
Market value$31.83M
18.74%
Sole
2.01M
Shared
0.00
None
0.00
EQUINOX GOLD CORP
SOLEShares4.83M
TypeSH
Market value$27.82M
16.37%
Sole
4.83M
Shared
0.00
None
0.00
NATURAL GAS SVCS GROUP INC
SOLEShares671.11K
TypeSH
Market value$17.32M
10.20%
Sole
671.11K
Shared
0.00
None
0.00
PBF ENERGY INC
SOLEShares620.46K
TypeSH
Market value$13.45M
7.91%
Sole
620.46K
Shared
0.00
None
0.00
TIDEWATER INC NEW
SOLEShares276.53K
TypeSH
Market value$12.76M
7.51%
Sole
276.53K
Shared
0.00
None
0.00
ALGOMA STL GROUP INC
SOLEShares1.79M
TypeSH
Market value$12.31M
7.24%
Sole
1.79M
Shared
0.00
None
0.00
PRECISION DRILLING CORP
SOLEShares215.40K
TypeSH
Market value$10.18M
5.99%
Sole
215.40K
Shared
0.00
None
0.00
ELDORADO GOLD CORP NEW
SOLEShares412.78K
TypeSH
Market value$8.40M
4.94%
Sole
412.78K
Shared
0.00
None
0.00
GALIANO GOLD INC
SOLEShares6.51M
TypeSH
Market value$8.25M
4.86%
Sole
6.51M
Shared
0.00
None
0.00
BASSETT FURNITURE INDS INC
SOLEShares476.12K
TypeSH
Market value$7.24M
4.26%
Sole
476.12K
Shared
0.00
None
0.00
ENERFLEX LTD
SOLEShares551.15K
TypeSH
Market value$4.34M
2.56%
Sole
551.15K
Shared
0.00
None
0.00
VERMILION ENERGY INC
SOLEShares520.49K
TypeSH
Market value$3.79M
2.23%
Sole
520.49K
Shared
0.00
None
0.00
PEABODY ENERGY CORP
SOLEShares236.93K
TypeSH
Market value$3.18M
1.87%
Sole
236.93K
Shared
0.00
None
0.00
HENNESSY ADVISORS INC
SOLEShares141.35K
TypeSH
Market value$1.78M
1.05%
Sole
141.35K
Shared
0.00
None
0.00
WESTWOOD HLDGS GROUP INC
SOLEShares99.93K
TypeSH
Market value$1.56M
0.92%
Sole
99.93K
Shared
0.00
None
0.00
ISHARES SILVER TR
SOLEShares35.38K
TypeSH
Market value$1.16M
0.68%
Sole
35.38K
Shared
0.00
None
0.00
MERCER INTL INC
SOLEShares309.01K
TypeSH
Market value$1.08M
0.64%
Sole
309.01K
Shared
0.00
None
0.00
ARDMORE SHIPPING CORP
SOLEShares89.61K
TypeSH
Market value$860.3K
0.51%
Sole
89.61K
Shared
0.00
None
0.00
I-80 GOLD CORP
SOLEShares1.13M
TypeSH
Market value$674.0K
0.40%
Sole
1.13M
Shared
0.00
None
0.00
MIND TECHNOLOGY INC
SOLEShares79.57K
TypeSH
Market value$671.6K
0.40%
Sole
79.57K
Shared
0.00
None
0.00
SOLITARIO RESOURCES CORP
SOLEShares632.46K
TypeSH
Market value$411.1K
0.24%
Sole
632.46K
Shared
0.00
None
0.00
SPDR GOLD TR
SOLEShares828.00
TypeSH
Market value$252.4K
0.15%
Sole
828.00
Shared
0.00
None
0.00
WEST FRASER TIMBER CO LTD
SOLEShares3.14K
TypeSH
Market value$230.0K
0.14%
Sole
3.14K
Shared
0.00
None
0.00
SPROTT PHYSICAL GOLD & SILVE
SOLEShares7.47K
TypeSH
Market value$225.0K
0.13%
Sole
7.47K
Shared
0.00
None
0.00
DAKOTA GOLD CORP
SOLEShares30K
TypeSH
Market value$110.7K
0.07%
Sole
30K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
HALLADOR ENERGY COMPANYSOLE | COM | 2.01M | SH | $31.83M 18.74% | 2.01M | 0.00 | 0.00 |
EQUINOX GOLD CORPSOLE | COM | 4.83M | SH | $27.82M 16.37% | 4.83M | 0.00 | 0.00 |
NATURAL GAS SVCS GROUP INCSOLE | COM | 671.11K | SH | $17.32M 10.20% | 671.11K | 0.00 | 0.00 |
PBF ENERGY INCSOLE | CL A | 620.46K | SH | $13.45M 7.91% | 620.46K | 0.00 | 0.00 |
TIDEWATER INC NEWSOLE | COM | 276.53K | SH | $12.76M 7.51% | 276.53K | 0.00 | 0.00 |
ALGOMA STL GROUP INCSOLE | COM | 1.79M | SH | $12.31M 7.24% | 1.79M | 0.00 | 0.00 |
PRECISION DRILLING CORPSOLE | COM NEW | 215.40K | SH | $10.18M 5.99% | 215.40K | 0.00 | 0.00 |
ELDORADO GOLD CORP NEWSOLE | COM | 412.78K | SH | $8.40M 4.94% | 412.78K | 0.00 | 0.00 |
GALIANO GOLD INCSOLE | COM | 6.51M | SH | $8.25M 4.86% | 6.51M | 0.00 | 0.00 |
BASSETT FURNITURE INDS INCSOLE | COM | 476.12K | SH | $7.24M 4.26% | 476.12K | 0.00 | 0.00 |
ENERFLEX LTDSOLE | COM | 551.15K | SH | $4.34M 2.56% | 551.15K | 0.00 | 0.00 |
VERMILION ENERGY INCSOLE | COM | 520.49K | SH | $3.79M 2.23% | 520.49K | 0.00 | 0.00 |
PEABODY ENERGY CORPSOLE | COM | 236.93K | SH | $3.18M 1.87% | 236.93K | 0.00 | 0.00 |
HENNESSY ADVISORS INCSOLE | COM | 141.35K | SH | $1.78M 1.05% | 141.35K | 0.00 | 0.00 |
WESTWOOD HLDGS GROUP INCSOLE | COM | 99.93K | SH | $1.56M 0.92% | 99.93K | 0.00 | 0.00 |
ISHARES SILVER TRSOLE | ISHARES | 35.38K | SH | $1.16M 0.68% | 35.38K | 0.00 | 0.00 |
MERCER INTL INCSOLE | COM | 309.01K | SH | $1.08M 0.64% | 309.01K | 0.00 | 0.00 |
ARDMORE SHIPPING CORPSOLE | COM | 89.61K | SH | $860.3K 0.51% | 89.61K | 0.00 | 0.00 |
I-80 GOLD CORPSOLE | COM | 1.13M | SH | $674.0K 0.40% | 1.13M | 0.00 | 0.00 |
MIND TECHNOLOGY INCSOLE | COM NEW | 79.57K | SH | $671.6K 0.40% | 79.57K | 0.00 | 0.00 |
SOLITARIO RESOURCES CORPSOLE | COM | 632.46K | SH | $411.1K 0.24% | 632.46K | 0.00 | 0.00 |
SPDR GOLD TRSOLE | GOLD SHS | 828.00 | SH | $252.4K 0.15% | 828.00 | 0.00 | 0.00 |
WEST FRASER TIMBER CO LTDSOLE | COM | 3.14K | SH | $230.0K 0.14% | 3.14K | 0.00 | 0.00 |
SPROTT PHYSICAL GOLD & SILVESOLE | TR UNIT | 7.47K | SH | $225.0K 0.13% | 7.47K | 0.00 | 0.00 |
DAKOTA GOLD CORPSOLE | COM | 30K | SH | $110.7K 0.07% | 30K | 0.00 | 0.00 |