AF
Aegis Financial CORP Quarterly 13F Portfolio Update (Q2 2026)
Aegis Financial CORPCIK: 0001140753
Sector-focusedContrarianDiversified strategy
Total reported value
$633.2M
Reporting period: 2026-06-30 · Number of holdings: 39
AEGIS FINANCIAL CORP disclosed 39 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $633.2M and a quarterly turnover rate of 27.5%.
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Personality snowflake
- Concentration
- 21
- Portfolio Stability
- 27.47
- Momentum
- 0
- Sector conviction
- 100
- Diversification
- 78
- Sizing Uniformity
- 89.63
Aegis Financial CORP's disclosed holdings carry a Herfindahl concentration index of 0.053 — mathematically equivalent to about 19 equally-sized positions, well below its 39 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 1.04), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 43% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govTrim EQX
-0.3% -$18.2M
New buy PK
Add RDN
+176.9% $21.0M
New buy MHK
Trim PDS
0.0% -$10.8M
Trim CVE
0.0% -$5.9M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | CVE | Cenovus Energy Inc | Stock-Energy | 13.52% | -2.26% | — | |
| 2 | PDS | Precision Drilling CORP | Stock-Other | 6.11% | -2.41% | — | |
| 3 | EQX | Equinox Gold CORP | Stock-Other | 5.95% | -3.68% | -0.28% | |
| 4 | HOG | Harley-davidson Inc | Stock-Consumer Disc | 5.29% | +0.52% | — | |
| 5 | HNRG | Hallador Energy Co | Stock-Other | 4.98% | -0.11% | -0.11% | |
| 6 | RDN | Radian Group Inc | Stock-Financials | 4.86% | +3.18% | +176.87% | |
| 7 | VET | Vermilion Energy Inc | Stock-Other | 4.82% | -1.24% | +27.34% | |
| 8 | PBF | Pbf Energy Inc-class A | Stock-Energy | 4.46% | -0.63% | — | |
| 9 | RYZ | Ryerson Holding CORP | Stock-Other | 4.34% | +0.01% | — | |
| 10 | GAU | Galiano Gold Inc | Stock-Other | 4.17% | +1.42% | +120.39% | |
| 11 | NGS | Natural Gas Services Group | Stock-Other | 3.98% | +0.16% | -0.36% | |
| 12 | RLJ | Rlj Lodging Trust | Stock-Other | 3.84% | +1.28% | +2.50% | |
| 13 | ASIX | Advansix Inc | Stock-Other | 3.80% | -1.28% | — | |
| 14 | PK | Park Hotels & Resorts Inc | Stock-Real Estate | 3.43% | +3.43% | NEW | |
| 15 | SM | Sm Energy Co | Stock-Energy | 3.21% | +0.25% | +41.16% | |
| 16 | TDW | Tidewater Inc | Stock-Energy | 2.91% | -1.07% | — | |
| 17 | MOS | Mosaic Co/the | Stock-Materials | 2.86% | -0.89% | — | |
| 18 | MHK | Mohawk Industries Inc | Stock-Consumer Disc | 2.80% | +2.80% | NEW | |
| 19 | NOA | North American Construction | Stock-Other | 2.18% | -0.23% | — | |
| 20 | EFXT | Enerflex LTD | Stock-Other | 2.14% | +0.16% | — | |
| 21 | EGO | Eldorado Gold CORP | Stock-Other | 1.91% | -0.38% | — | |
| 22 | INBK | First Internet Bancorp | Stock-Other | 1.56% | +0.32% | — | |
| 23 | BSET | Bassett Furniture Inds | Stock-Other | 1.54% | +0.26% | +4.44% | |
| 24 | CLDT | Chatham Lodging Trust | Stock-Other | 1.42% | +0.50% | — | |
| 25 | ASTL | Algoma Steel Group Inc | Stock-Other | 1.14% | -0.13% | — | |
| 26 | GFR | Greenfire Resources LTD | Stock-Other | 0.69% | +0.24% | +86.26% | |
| 27 | VLGEA | Village Super Market-class A | Stock-Other | 0.37% | -0.04% | — | |
| 28 | ACTG | Acacia Research CORP | Stock-Other | 0.36% | -0.05% | — | |
| 29 | WHG | Westwood Holdings Group Inc | Stock-Other | 0.30% | +0.02% | — | |
| 30 | HNNA | Hennessy Advisors Inc | Stock-Other | 0.27% | +0.03% | +20.81% | |
| 31 | IAUX | I-80 Gold CORP | Stock-Other | 0.26% | -0.03% | — | |
| 32 | ASC | Ardmore Shipping Corporation | Stock-Other | 0.20% | -0.04% | — | |
| 33 | XPL | Solitario Resources CORP | Stock-Other | 0.08% | -0.01% | — | |
| 34 | SLV | Ishares Silver Trust | ETF-Commodities | 0.07% | -0.03% | — | |
| 35 | GLD | Spdr Gold Shares | ETF-Commodities | 0.05% | -0.01% | — | |
| 36 | CEF | Sprott Physical Gold And Sil | Stock-Other | 0.05% | -0.01% | — | |
| 37 | WFG | West Fraser Timber Co LTD | Stock-Other | 0.03% | -0.01% | — | |
| 38 | MERC | Mercer International Inc | Stock-Other | 0.03% | -0.05% | — | |
| 39 | DC | Dakota Gold CORP | Stock-Other | 0.02% | -0.01% | — |
Portfolio Performance
Performance for Q3 2026
+6.8%
Performance Last 4 Quarters
+64.7%
- Stdev
- +21%
- Beta
- +0.51
- Alpha
- +20.6%
- Max Drawdown
- -13.6%
- Annualized Perf
- +32.7%
- Batting Avg vs S&P
- +58.3%
- Sortino
- +3.13
- Stutzer
- +0.43
- Treynor
- +0.61
- Sterling
- +1.62
- Calmar
- +2.42
- Information Ratio
- +0.51
- Tracking Error
- +20.9%
- Stdev Down
- +9.8%
- Winning Months %
- +63.9%
- Losing Months %
- +36.1%
- Best 12 Months
- +100.6%
- Worst 12 Months
- +4.3%
- Efficiency Ratio
- +0.71
- Sharpe
- +1.47
- Stdev Sectors
- +18.3%
- Skewness
- +0.02
- Kurtosis
- -0.83
- Upside Potential
- +4.78
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 39 | $633.2M | 27 | ||
| 2026 Q1 | 37 | $580.5M | 40 | ||
| 2025 Q4 | 33 | $419.3M | 52 | ||
| 2025 Q3 | 26 | $261.3M | 72 | ||
| 2025 Q2 | 25 | $169.9M | 0 | ||
| 2025 Q1 | 23 | $117.2M | 100 | ||
| 2024 Q4 | 22 | $116.1M | 0 | ||
| 2024 Q3 | 23 | $117.3M | 0 | ||
| 2024 Q2 | 25 | $103.9M | 0 | ||
| 2024 Q1 | 27 | $117.8M | 0 | ||
| 2023 Q4 | 31 | $165.1M | 0 | ||
| 2023 Q3 | 30 | $164.1M | 0 | ||
| 2023 Q2 | 31 | $143.7M | 0 | ||
| 2023 Q1 | 27 | $128.9M | 0 | ||
| 2022 Q4 | 28 | $113.5M | 0 | ||
| 2018 Q3 | 22 | $60.3M | 59 | ||
| 2018 Q2 | 21 | $71.7M | 41 | ||
| 2018 Q1 | 20 | $65.3M | 25 | ||
| 2017 Q4 | 20 | $68.1M | 25 | ||
| 2017 Q3 | 24 | $70.6M | 23 | ||
| 2017 Q2 | 27 | $83.2M | 27 | ||
| 2017 Q1 | 30 | $93.9M | 22 | ||
| 2016 Q4 | 31 | $101.9M | 19 | ||
| 2016 Q3 | 36 | $99.3M | 31 | ||
| 2016 Q2 | 38 | $102.4M | 43 | ||
| 2016 Q1 | 40 | $134.1M | 33 | ||
| 2015 Q4 | 40 | $125.6M | 21 | ||
| 2015 Q3 | 42 | $151.8M | 39 | ||
| 2015 Q2 | 44 | $183.6M | 51 | ||
| 2015 Q1 | 41 | $174.0M | 34 | ||
| 2014 Q4 | 44 | $190.5M | 45 | ||
| 2014 Q3 | 51 | $237.2M | 50 | ||
| 2014 Q2 | 57 | $308.3M | 48 | ||
| 2014 Q1 | 66 | $323.5M | 23 | ||
| 2013 Q4 | 67 | $348.4M | 29 | ||
| 2013 Q3 | 70 | $327.7M | 30 | ||
| 2013 Q2 | 67 | $290.1M | — |
💡
Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Holding changes this quarter
Aegis Financial CORP's most significant position changes for 2026-06-30: New buy: Park Hotels & Resorts Inc (PK); New buy: Mohawk Industries Inc (MHK); Trim: Equinox Gold CORP (EQX) — shares -0.28%; Add: Radian Group Inc (RDN) — shares +176.87%; Add: Galiano Gold Inc (GAU) — shares +120.39%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | PK | Park Hotels & Resorts Inc | +3.4% | NEW | New buy |
| 2 | RDN | Radian Group Inc | +3.2% | +176.87% | Add |
| 3 | MHK | Mohawk Industries Inc | +2.8% | NEW | New buy |
| 4 | GAU | Galiano Gold Inc | +1.4% | +120.39% | Add |
| 5 | RLJ | Rlj Lodging Trust | +1.3% | +2.50% | Add |
| 6 | HOG | Harley-davidson Inc | +0.5% | — | Unchanged |
| 7 | CLDT | Chatham Lodging Trust | +0.5% | — | Unchanged |
| 8 | INBK | First Internet Bancorp | +0.3% | — | Unchanged |
| 9 | BSET | Bassett Furniture Inds | +0.3% | +4.44% | Add |
| 10 | SM | Sm Energy Co | +0.3% | +41.16% | Add |
| 11 | GFR | Greenfire Resources LTD | +0.2% | +86.26% | Add |
| 12 | NGS | Natural Gas Services Group | +0.2% | -0.36% | Trim |
| 13 | EFXT | Enerflex LTD | +0.2% | — | Unchanged |
| 14 | HNNA | Hennessy Advisors Inc | 0% | +20.81% | Add |
| 15 | WHG | Westwood Holdings Group Inc | 0% | — | Unchanged |
| 16 | RYZ | Ryerson Holding CORP | 0% | — | Unchanged |
| 17 | CEF | Sprott Physical Gold And Sil | 0% | — | Unchanged |
| 18 | GLD | Spdr Gold Shares | 0% | — | Unchanged |
| 19 | XPL | Solitario Resources CORP | 0% | — | Unchanged |
| 20 | DC | Dakota Gold CORP | 0% | — | Unchanged |
| 21 | WFG | West Fraser Timber Co LTD | 0% | — | Unchanged |
| 22 | SLV | Ishares Silver Trust | 0% | — | Unchanged |
| 23 | IAUX | I-80 Gold CORP | 0% | — | Unchanged |
| 24 | ASC | Ardmore Shipping Corporation | 0% | — | Unchanged |
| 25 | VLGEA | Village Super Market-class A | 0% | — | Unchanged |
| 26 | MERC | Mercer International Inc | -0.1% | — | Unchanged |
| 27 | ACTG | Acacia Research CORP | -0.1% | — | Unchanged |
| 28 | HNRG | Hallador Energy Co | -0.1% | -0.11% | Trim |
| 29 | ASTL | Algoma Steel Group Inc | -0.1% | — | Unchanged |
| 30 | NOA | North American Construction | -0.2% | — | Unchanged |
| 31 | EGO | Eldorado Gold CORP | -0.4% | — | Unchanged |
| 32 | PBF | Pbf Energy Inc-class A | -0.6% | — | Unchanged |
| 33 | MOS | Mosaic Co/the | -0.9% | — | Unchanged |
| 34 | TDW | Tidewater Inc | -1.1% | — | Unchanged |
| 35 | VET | Vermilion Energy Inc | -1.2% | +27.34% | Add |
| 36 | ASIX | Advansix Inc | -1.3% | — | Unchanged |
| 37 | CVE | Cenovus Energy Inc | -2.3% | — | Unchanged |
| 38 | PDS | Precision Drilling CORP | -2.4% | — | Unchanged |
| 39 | EQX | Equinox Gold CORP | -3.7% | -0.28% | Trim |
Filing History
FAQ
What is Aegis Financial CORP and what type of investor is it?
Aegis Financial CORP is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $633.2M, spread across 39 disclosed positions.
What are Aegis Financial CORP's largest equity positions?
Based on the latest 13F filing, Aegis Financial CORP's top holdings by market value are:
1. Cenovus Energy Inc (CVE) — $85.6M (13.5%)
2. Precision Drilling CORP (PDS) — $38.7M (6.1%)
3. Equinox Gold CORP (EQX) — $37.7M (6.0%)
4. Harley-davidson Inc (HOG) — $33.5M (5.3%)
5. Hallador Energy Co (HNRG) — $31.5M (5.0%)
What changes did Aegis Financial CORP make in its most recent portfolio filing?
In the latest reported quarter, Aegis Financial CORP made 13 notable position adjustments: 2 new positions were initiated, 8 existing holdings were added to, 3 positions were partially reduced, and 0 were completely exited. The largest of these moves: New buy: Park Hotels & Resorts Inc (PK); New buy: Mohawk Industries Inc (MHK); Trim: Equinox Gold CORP (EQX) — shares -0.28%; Add: Radian Group Inc (RDN) — shares +176.87%; Add: Galiano Gold Inc (GAU) — shares +120.39%
What sectors does Aegis Financial CORP focus on?
Aegis Financial CORP is concentrated in the following sectors based on its current disclosed equity portfolio:
• Energy: 55.6%
• Consumer Discretionary: 18.7%
• Financials: 11.2%
• Real Estate: 7.9%
• Materials: 6.6%
Investment Profile
Aegis Financial CORP returned an annualized 32.7% over the trailing 36 months — outperforming the S&P 500 by 20.6 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.51 (less volatile than the market) and a 58% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 55.6% of the portfolio concentrated in Energy.
Its turnover score has risen from 0 to 27 over the past 4 quarters — a shift toward more active trading.
It has added to its RLJ position over the past two quarters (+$14.8M, now $24.3M), while trimming EQX over the same stretch (-$25.3M, still holding $37.7M).
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Developer Access
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