# Aegis Financial Corporation

> Aegis Financial Corporation is an SEC-registered investment advisory firm in McLean, VA, registered since 1994, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated July 28, 2026.

- CRD: 111587
- Filed as: AEGIS FINANCIAL CORPORATION
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: McLean, VA
- Filing period: October 2026
- Form ADV filing dated: July 28, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/111587
- AdvisorCensus page: https://advisorcensus.com/firm/aegis-financial-corporation-mclean-va-111587

## Quick answers

**How is Aegis Financial Corporation compensated?**
On its Form ADV (Item 5.E, October 2026), Aegis Financial Corporation reports these compensation arrangements: a percentage of assets under its management.

**Where is Aegis Financial Corporation located?**
Aegis Financial Corporation's principal office is in McLean, VA, according to its Form ADV.

**Is Aegis Financial Corporation registered with the SEC or a state?**
Aegis Financial Corporation is an SEC-registered investment advisory firm, registered since 1994. Status as filed: Approved. CRD 111587.

**How much does Aegis Financial Corporation manage?**
Aegis Financial Corporation reports $1,367,476,939 in regulatory assets under management in its Form ADV filing dated July 28, 2026 (100% discretionary).

**How have Aegis Financial Corporation's assets and staff changed since 2021?**
In the Form ADV data for Aegis Financial Corporation: Regulatory assets under management: $142,131,283 in the October 2021 data and $1,367,476,939 in the October 2026 data, up 862%. Total employees: 4 in October 2021 and 6 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Aegis Financial Corporation serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (19); high net worth individuals (9); investment companies (1).

**Which custodians does Aegis Financial Corporation use?**
Aegis Financial Corporation's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists National Financial Services LLC and Pershing Advisor Solutions LLC as custodians holding 10% or more of its separately managed account assets.

**Does Aegis Financial Corporation report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/111587

**Does Aegis Financial Corporation state an account minimum?**
Its Form ADV Part 2A brochure dated March 27, 2026 says: "The Adviser typically requires that a client invests a minimum of $100,000 to open an account and to maintain a minimum account size of $100,000 for separate accounts."

**What changed in Aegis Financial Corporation's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $380,976,522 to $1,367,476,939 (+259%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management

### Fees and minimums (Form ADV Part 2A brochure dated March 27, 2026)

- Account minimum: $100,000

> The Adviser typically requires that a client invests a minimum of $100,000 to open an account and to maintain a minimum account size of $100,000 for separate accounts.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- National Financial Services LLC
- Pershing Advisor Solutions LLC

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $1,367,476,939
- Discretionary: $1,367,476,939
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 19 | $9,953,314 |
| High net worth individuals | 9 | $34,862,305 |
| Investment companies | 1 | $1,310,350,746 |
| Corporations or other businesses not listed above | Fewer than 5 | $12,310,574 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies (and business development companies)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 1994 (32 years)
- Employees: 6 total, 4 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: TX, VA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- [aegisfinancialcorp.com](https://aegisfinancialcorp.com)
- [aegisfunds.com](https://aegisfunds.com)
- [aegisvalue.com](https://aegisvalue.com)
- [aegisvaluefund.com](https://aegisvaluefund.com)
- LinkedIn @aegis-financial-corp

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $142,131,283 | 4 | March 18, 2021 |
| October 2022 | $238,153,983 | 4 | April 6, 2022 |
| October 2023 | $352,674,585 | 5 | March 27, 2023 |
| October 2024 | $341,413,738 | 5 | March 21, 2024 |
| October 2025 | $380,976,522 | 6 | March 21, 2025 |
| October 2026 | $1,367,476,939 | 6 | July 28, 2026 |

Regulatory assets under management: $142,131,283 in the October 2021 data and $1,367,476,939 in the October 2026 data, up 862%.
Total employees: 4 in October 2021 and 6 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $380,976,522 to $1,367,476,939 (+259%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Aegis Financial Corporation (CRD 111587): Form ADV filing data as of October 2026.