Aegis Financial Corp.
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 12, 2024), Aegis Financial Corp. reported 23 stock positions worth $117.3 million. Its top holding was Hallador Energy (HNRG) at 16.3% of the portfolio, followed by Equinox Gold (EQX, 13.4%) and Algoma Steel (ASTL, 12.7%). Compared with Q2 2024, it opened 2 new positions, sold out of 4, added to 2 and reduced 3. The biggest buy was Precision Drilling (PDS, shares +36%) and the biggest sale Natural Gas Services (NGS, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- MC LEAN, VA
- CIK
- 0001140753
- Portfolio Value
- $117.3M (Q3 2024)
- SEC Filing
- 0001104659-24-116231 ↗ filed Nov 12, 2024
Holdings Value
Holdings 23 stocks · $117.3M
| HNRG Hallador Energy Co. | 16.25% | 2,021,102 | $19.1M | No change |
| EQX Equinox Gold Corp. | 13.38% | 2,568,645 | $15.7M | No change |
| ASTL Algoma Steel Group Inc. | 12.74% | 1,459,903 | $14.9M | No change |
| NGS Natural Gas Services Group | 11.11% | 681,810 | $13.0M | Reduce -0.1% |
| BTU Peabody Energy Corp. | 10.99% | 485,392 | $12.9M | No change |
| PDS Precision Drilling Corp. | 6.50% | 123,638 | $7.6M | Add +36.0% |
| EGO Eldorado Gold Corp. | 6.13% | 413,039 | $7.2M | No change |
| BSET Bassett Furniture Inds | 5.87% | 476,308 | $6.9M | No change |
| EFXT Enerflex Ltd. | 2.81% | 551,598 | $3.3M | No change |
| AE Adams Resources & Energy Inc. | 2.65% | 115,111 | $3.1M | No change |
| VET Vermilion Energy Inc. | 2.42% | 290,000 | $2.8M | Add +3.6% |
| MERC Mercer International Inc. | 1.79% | 309,498 | $2.1M | No change |
| ASC Ardmore Shipping Corp. | 1.39% | 89,761 | $1.6M | Reduce -1.2% |
| WHG Westwood Holdings Group Inc. | 1.21% | 100,002 | $1.4M | No change |
| HNNA Hennessy Advisors Inc. | 1.20% | 141,353 | $1.4M | No change |
| IAUX I-80 Gold Corp. | 1.12% | 1,126,838 | $1.3M | No change |
| SLV iShares Silver Trust | 0.95% | 39,025 | $1.1M | No change |
| XPL Solitario Resources Corp. | 0.38% | 632,458 | $443K | No change |
| MIND Mind Technology Inc. | 0.31% | 95,248 | $368K | New |
| WFG West Fraser Timber Co. Ltd. | 0.28% | 3,395 | $331K | Reduce -1.8% |
| GLD SPDR Gold Shares | 0.23% | 1,097 | $267K | No change |
| EMKR Emcore Corp. | 0.19% | 99,702 | $220K | No change |
| GAU Galiano Gold Inc. | 0.13% | 106,100 | $152K | New |
Portfolio Sells Q2 2024 → Q3 2024
| NGS Natural Gas Services Group | Reduce -0.1% | 11.11% | −2.10 |
| ASC Ardmore Shipping Corp. | Reduce -1.2% | 1.39% | −0.58 |
| DLAPQ Delta Apparel Inc. | Sold out | 0.00% | −0.39 |
| MEC Mayville Engineering Co. Inc. | Sold out | 0.00% | −0.35 |
| PRESURANCE HOLDINGS INC | Sold out | 0.00% | −0.34 |
| KGC Kinross Gold Corp. | Sold out | 0.00% | −0.18 |
| WFG West Fraser Timber Co. Ltd. | Reduce -1.8% | 0.28% | +0.03 |
Portfolio Buys Q2 2024 → Q3 2024
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 39 | $633.2M | CVE, PDS, EQX, HOG, HNRG |
| Q1 2026 | 37 | $580.5M | CVE, EQX, PDS, VET, PBF |
| Q4 2025 | 33 | $419.3M | EQX, CVE, PDS, HNRG, NGS |
| Q3 2025 | 26 | $261.3M | EQX, HNRG, PDS, NGS, PBF |
| Q2 2025 | 25 | $169.9M | HNRG, EQX, NGS, PBF, TDW |
| Q1 2025 | 23 | $117.2M | HNRG, EQX, NGS, PDS, TDW |
| Q4 2024 | 22 | $116.1M | HNRG, NGS, ASTL, EQX, PDS |
| Q3 2024 | 23 | $117.3M | HNRG, EQX, ASTL, NGS, BTU |
| Q2 2024 | 25 | $103.9M | HNRG, NGS, EQX, BTU, ASTL |
| Q1 2024 | 27 | $117.8M | NGS, EQX, ASTL, BTU, HNRG |