13F HOLDINGS REPORT
AEGIS FINANCIAL CORP
Quarter ended Q3 2025 · Filed November 12, 2025 · Accession 0001104659-25-109773
Total Value
$261.3M
Positions
26
Other Managers
0
Confidential Omitted
No
Holdings (26)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | EQUINOX GOLD CORP | EQX | 4,817,923 | $54.0M | 20.66% |
| 2 | HALLADOR ENERGY COMPANY | HNRG | 2,010,994 | $39.4M | 15.06% |
| 3 | PRECISION DRILLING CORP | PDS | 452,359 | $25.5M | 9.75% |
| 4 | NATURAL GAS SVCS GROUP INC | 63886Q109 | 671,112 | $18.8M | 7.19% |
| 5 | PBF ENERGY INC | PBF | 620,460 | $18.7M | 7.16% |
| 6 | CENOVUS ENERGY INC | CVE | 920,500 | $15.6M | 5.98% |
| 7 | TIDEWATER INC NEW | TDGMW | 276,529 | $14.7M | 5.64% |
| 8 | GALIANO GOLD INC | GAU | 6,659,321 | $14.5M | 5.55% |
| 9 | NORTH AMERN CONSTR GROUP LTD | 656811106 | 841,934 | $12.0M | 4.58% |
| 10 | ELDORADO GOLD CORP NEW | 284902509 | 412,779 | $11.9M | 4.56% |
| 11 | BASSETT FURNITURE INDS INC | 070203104 | 476,119 | $7.4M | 2.85% |
| 12 | VERMILION ENERGY INC | VET | 870,492 | $6.8M | 2.60% |
| 13 | ALGOMA STL GROUP INC | 015658107 | 1,786,122 | $6.3M | 2.43% |
| 14 | ENERFLEX LTD | EFXT | 551,151 | $5.9M | 2.28% |
| 15 | WESTWOOD HLDGS GROUP INC | 961765104 | 99,926 | $1.6M | 0.63% |
| 16 | ISHARES SILVER TR | SLV | 35,383 | $1.5M | 0.57% |
| 17 | HENNESSY ADVISORS INC | HNNAZ | 141,353 | $1.5M | 0.57% |
| 18 | I-80 GOLD CORP | IAUX-WT | 1,126,349 | $1.1M | 0.41% |
| 19 | ARDMORE SHIPPING CORP | ASC | 89,612 | $1.1M | 0.41% |
| 20 | MERCER INTL INC | 588056101 | 309,007 | $889,940 | 0.34% |
| 21 | MIND TECHNOLOGY INC | MIND | 79,572 | $643,737 | 0.25% |
| 22 | SOLITARIO RESOURCES CORP | XPL | 632,458 | $441,456 | 0.17% |
| 23 | SPDR GOLD TR | GLD | 828 | $294,329 | 0.11% |
| 24 | SPROTT ASSET MANAGEMENT LP | SII | 7,474 | $274,221 | 0.10% |
| 25 | WEST FRASER TIMBER CO LTD | WFG | 3,142 | $213,675 | 0.08% |
| 26 | DAKOTA GOLD CORP | DC | 30,000 | $136,500 | 0.05% |