13F HOLDINGS REPORT
AEGIS FINANCIAL CORP
Quarter ended Q4 2025 · Filed February 12, 2026 · Accession 0001104659-26-013708
Total Value
$419.3M
Positions
33
Other Managers
0
Confidential Omitted
No
Holdings (33)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | EQUINOX GOLD CORP | EQX | 4,474,089 | $63.0M | 15.02% |
| 2 | CENOVUS ENERGY INC | CVE | 3,454,121 | $58.4M | 13.94% |
| 3 | PRECISION DRILLING CORP | PDS | 504,059 | $36.2M | 8.64% |
| 4 | HALLADOR ENERGY COMPANY | HNRG | 1,814,026 | $34.5M | 8.24% |
| 5 | NATURAL GAS SVCS GROUP INC | 63886Q109 | 671,112 | $22.6M | 5.39% |
| 6 | ADVANSIX INC | ASIX | 1,209,629 | $20.9M | 4.99% |
| 7 | MOSAIC CO NEW | MOS | 853,638 | $20.6M | 4.90% |
| 8 | RYERSON HLDG CORP | RYZ | 707,390 | $17.8M | 4.24% |
| 9 | PBF ENERGY INC | PBF | 620,289 | $16.8M | 4.01% |
| 10 | GALIANO GOLD INC | GAU | 6,409,321 | $16.3M | 3.89% |
| 11 | NORTH AMERN CONSTR GROUP LTD | 656811106 | 1,038,177 | $15.0M | 3.57% |
| 12 | TIDEWATER INC NEW | TDGMW | 276,529 | $14.0M | 3.33% |
| 13 | ELDORADO GOLD CORP NEW | 284902509 | 387,779 | $13.9M | 3.32% |
| 14 | VERMILION ENERGY INC | VET | 1,320,492 | $11.0M | 2.62% |
| 15 | RLJ LODGING TR | RLJ-PA | 1,271,817 | $9.5M | 2.26% |
| 16 | ENERFLEX LTD | EFXT | 551,151 | $8.5M | 2.03% |
| 17 | BASSETT FURNITURE INDS INC | 070203104 | 501,119 | $8.4M | 2.00% |
| 18 | ALGOMA STL GROUP INC | 015658107 | 1,786,122 | $7.3M | 1.75% |
| 19 | FIRST INTERNET BANCORP | INBKZ | 250,320 | $5.2M | 1.25% |
| 20 | CHATHAM LODGING TR | CLDT-PA | 678,530 | $4.6M | 1.10% |
| 21 | OLYMPIC STEEL INC | 68162K106 | 73,515 | $3.1M | 0.75% |
| 22 | VILLAGE SUPER MKT INC | 927107409 | 55,733 | $2.0M | 0.47% |
| 23 | WESTWOOD HLDGS GROUP INC | 961765104 | 99,926 | $1.7M | 0.41% |
| 24 | I-80 GOLD CORP | IAUX-WT | 1,126,349 | $1.7M | 0.40% |
| 25 | HENNESSY ADVISORS INC | HNNAZ | 141,353 | $1.4M | 0.32% |
| 26 | ISHARES SILVER TR | SLV | 17,698 | $1.1M | 0.27% |
| 27 | ARDMORE SHIPPING CORP | ASC | 89,612 | $948,991 | 0.23% |
| 28 | GREENFIRE RES LTD NEW | 39525U107 | 179,131 | $852,664 | 0.20% |
| 29 | MERCER INTL INC | 588056101 | 308,927 | $611,675 | 0.15% |
| 30 | SOLITARIO RESOURCES CORP | XPL | 632,458 | $440,697 | 0.11% |
| 31 | SPROTT ASSET MANAGEMENT LP | SII | 7,474 | $342,309 | 0.08% |
| 32 | SPDR GOLD TR | GLD | 828 | $328,145 | 0.08% |
| 33 | DAKOTA GOLD CORP | DC | 30,000 | $170,400 | 0.04% |