AEGIS FINANCIAL CORP

CIK 0001140753 · Q2 2026

13F Equity AUM

$633.2M

+9.1% QoQ

Positions

+2 QoQ

AUM Rank

#4,315

Top 34%

Skill Alpha (FF)

+2.9%/yr^ns

No Clear Edge

Rank #1,076 · Top 13%

vs S&P +16.0%/yr (unadj.)

Quarters Tracked

~9 years

Portfolio Concentration

Top 5: 35.9%Top 10: 58.5%Top 20: 89.7%

CVE13.5%

PDS6.1%

EQX6.0%

HOG5.3%

HNRG5.0%

RDN4.9%

VET4.8%

PBF4.5%

RYZ4.3%

GAU4.2%

Others (29)41.5%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Energy46.9%

Basic Materials18.1%

Consumer Cyclical9.6%

Financial Services9.0%

Real Estate8.7%

Consumer Defensive4.7%

Industrials2.7%

Other0.3%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 39Median: 2.14%Avg: 2.56%

0–0.5%

13(2.1%)

0.5–1%

1(0.7%)

1–3%

10(20.4%)

3–5%

11(45.9%)

5%+

4(30.9%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 39vs 20 funds

0%Low

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New2Increased8Decreased3Exited0

New Positions

PK3.4%

+1.5M

MHK2.8%

+146K

Increased

GAU4.2%

+7.7M(+120%)

VET4.8%

+700K(+27%)

RDN4.9%

+522K(+177%)

GFR0.7%

+360K(+86%)

SM3.2%

+227K(+41%)

RLJ3.8%

+50K(+3%)

HNNA0.3%

+29K(+21%)

BSET1.5%

+23K(+4%)

Decreased

EQX6.0%

-10,727(-0%)

NGS4.0%

-2,140(-0%)

HNRG5.0%

-2,000(-0%)

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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