# EDGAR Filing Document

**Accession Number:** 0001251896
**File Stem:** 0001145549-23-010585
**Filing Date:** 2023-2
**Character Count:** 24698
**Document Hash:** 2f93887327c21d6528eb8d9f965fdabf
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-010585.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001145549-23-010585

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AEGIS FUNDS
- **CENTRAL INDEX KEY:** 0001251896
- **IRS NUMBER:** 000000000

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21399
- **FILM NUMBER:** 23672315

**BUSINESS ADDRESS:**
- **STREET 1:** 6862 ELM STREET
- **STREET 2:** STE 830
- **CITY:** MCLEAN
- **STATE:** VA
- **ZIP:** 22101
- **BUSINESS PHONE:** 703-528-7788

**MAIL ADDRESS:**
- **STREET 1:** 6862 ELM STREET
- **STREET 2:** STE 830
- **CITY:** MCLEAN
- **STATE:** VA
- **ZIP:** 22101

## Series and Classes Contracts Data

### Aegis Value Fund (Series ID: S000043790)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000135823 | Class I      | AVALX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Aegis Funds

- **b. Investment Company Act file number:** 811-21399

- **c. CIK number of Registrant:** 0001251896

- **d. LEI of Registrant:** 549300ZYHDG4N3ISK566

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 6862 Elm Street

  - **City:** McLean

  - **State:** VA

  - **Foreign country:** US

  - **Zip / Postal Code:** 22101

  - **Telephone number:** 703-528-7788

**Item A.2. Information about the Series.**

- **a. Name of Series:** Aegis Value Fund

- **b. EDGAR series identifier (if any):** S000043790

- **c. LEI of Series:** 549300ZYHDG4N3ISK566

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $274414678.15

**Total Liabilities:** $454243.17

**Net Assets:** $273960434.98

**Cash Not Reported:** $2405654.89

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000135823 | 9.00%                | 13.52%               | -2.96%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-7109616.68             | $28594992.87                               |
| Month 2  | $3317328.36              | $29979271.87                               |
| Month 3  | $-21438.75               | $-8100428.68                               |

### Schedule of Portfolio Investments

| Name                                 | Title                                    | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Adams Resources & Energy Inc         | Adams Resources & Energy Inc             | CUSIP: 006351308<br>LEI: UP28TXL7K8XSRNNC7V02 | Long             | EC               | CORP              | US        |    135876 | NS      | $5288293.92   | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Bassett Furniture Industries I       | Bassett Furniture Industries Inc         | CUSIP: 070203104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    255000 | NS      | $4431900.00   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| AKITA Drilling Ltd                   | AKITA Drilling Ltd                       | CUSIP: 009905100<br>LEI: 9845008F8E3FCC4CB850 | Long             | EC               | CORP              | CA        |   5945285 | NS      | $7596265.18   | 2.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Conifer Holdings Inc                 | Conifer Holdings Inc                     | CUSIP: 20731J102<br>LEI: 549300CVR7X0GTYVM324 | Long             | EC               | CORP              | US        |    430026 | NS      | $675140.82    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Mundoro Capital Inc                  | Mundoro Capital Inc                      | CUSIP: 626135107<br>LEI: 529900O9ODYZXQFQXM38 | Long             | EC               | CORP              | CA        |   2069073 | NS      | $275061.40    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Koil Energy Solutions Inc            | Koil Energy Solutions Inc                | CUSIP: 24372A305<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    766584 | NS      | $360294.48    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Delta Apparel Inc                    | Delta Apparel Inc                        | CUSIP: 247368103<br>LEI: 549300YCES15WEDS8Z04 | Long             | EC               | CORP              | US        |     78302 | NS      | $830784.22    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Amerigo Resources Ltd                | Amerigo Resources Ltd                    | CUSIP: 03074G109<br>LEI: 5299000WW697YX8VQX13 | Long             | EC               | CORP              | CA        |  18172738 | NS      | $17716406.32  | 6.47%             |  |  |  | No            |                  1 | On Loan: No      |
| EMCORE Corp                          | EMCORE Corp                              | CUSIP: 290846203<br>LEI: 529900B9OHDEWU534K08 | Long             | EC               | CORP              | US        |    975350 | NS      | $938774.38    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Enerflex Ltd                         | Enerflex Ltd                             | CUSIP: 29269R105<br>LEI: 54930014N7872VUS3F89 | Long             | EC               | CORP              | CA        |    511060 | NS      | $3229899.20   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| EZCORP Inc                           | EZCORP Inc                               | CUSIP: 302301106<br>LEI: 5493003K6PG3ZQ7TUQ63 | Long             | EC               | CORP              | US        |    264446 | NS      | $2155234.90   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Hallador Energy Co                   | Hallador Energy Co                       | CUSIP: 40609P105<br>LEI: 254900GKEQRHOI2SSC19 | Long             | EC               | CORP              | US        |   2177637 | NS      | $21754593.63  | 7.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Matrix Service Co                    | Matrix Service Co                        | CUSIP: 576853105<br>LEI: 529900VYBKSX6HD2YW58 | Long             | EC               | CORP              | US        |   1108456 | NS      | $6894596.32   | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Mayville Engineering Co Inc          | Mayville Engineering Co Inc              | CUSIP: 578605107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    314143 | NS      | $3977050.38   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercer International Inc             | Mercer International Inc                 | CUSIP: 588056101<br>LEI: 549300Z5IAG39VRTY874 | Long             | EC               | CORP              | CA        |    264447 | NS      | $3078163.08   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Peabody Energy Corp                  | Peabody Energy Corp                      | CUSIP: 704551100<br>LEI: EJCO258LNNVSKAR2JX59 | Long             | EC               | CORP              | US        |    494732 | NS      | $13070819.44  | 4.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Solitario Zinc Corp                  | Solitario Zinc Corp                      | CUSIP: 8342EP107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    620433 | NS      | $384730.50    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Tidewater Inc                        | Tidewater Inc                            | CUSIP: 88642R109<br>LEI: 2549000JA5GRUPLMUH98 | Long             | EC               | CORP              | US        |    118102 | NS      | $4352058.70   | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Stainless & Alloy Pr       | Universal Stainless & Alloy Products Inc | CUSIP: 913837100<br>LEI: 5493001OEIZDUGXZDE09 | Long             | EC               | CORP              | US        |    435079 | NS      | $3119516.43   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| West Fraser Timber Co Ltd            | West Fraser Timber Co Ltd                | CUSIP: 952845105<br>LEI: 5493005WD1ZK6WBVR988 | Long             | EC               | CORP              | CA        |     12431 | NS      | $898636.99    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Westwood Holdings Group Inc          | Westwood Holdings Group Inc              | CUSIP: 961765104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     97606 | NS      | $1086715.92   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Dundee Precious Metals Inc           | Dundee Precious Metals Inc               | CUSIP: 265269209<br>LEI: 549300LATVTU0EIUMD45 | Long             | EC               | CORP              | CA        |    606525 | NS      | $2916157.87   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Centerra Gold Inc                    | Centerra Gold Inc                        | CUSIP: 152006102<br>LEI: 549300K0HXTMP5JJ0E62 | Long             | EC               | CORP              | CA        |   1660099 | NS      | $8594751.84   | 3.14%             |  |  |  | No            |                  1 | On Loan: No      |
| GoldQuest Mining Corp                | GoldQuest Mining Corp                    | CUSIP: 38144C100<br>LEI: 529900X419S9QM46GK24 | Long             | EC               | CORP              | CA        |   2849300 | NS      | $305131.83    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Excelsior Mining Corp                | Excelsior Mining Corp                    | CUSIP: 300763208<br>LEI: 529900D3J6SRW92GKY67 | Long             | EC               | CORP              | CA        |   2483258 | NS      | $293442.60    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Geodrill Ltd                         | Geodrill Ltd                             | CUSIP: N/A<br>LEI: 213800C1H5TO1CMEDY19       | Long             | EC               | CORP              | GH        |   3956698 | NS      | $7685462.14   | 2.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Essential Energy Services Ltd        | Essential Energy Services Ltd            | CUSIP: 29669R101<br>LEI: 5299006UUJTPDQBY9Z38 | Long             | EC               | CORP              | CA        |   1428583 | NS      | $406207.13    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| TriStar Gold Inc                     | TriStar Gold Inc                         | CUSIP: 89678B109<br>LEI: 5299008HX5259QFD0E46 | Long             | EC               | CORP              | US        |    351164 | NS      | $32419.13     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| MEG Energy Corp                      | MEG Energy Corp                          | CUSIP: 552704108<br>LEI: 5493002WXPTG5ZC1T326 | Long             | EC               | CORP              | CA        |   1097576 | NS      | $15280138.55  | 5.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Conifex Timber Inc                   | Conifex Timber Inc                       | CUSIP: 207324104<br>LEI: 549300EEUFHLY74V3J58 | Long             | EC               | CORP              | CA        |   2346913 | NS      | $2859975.22   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Capital Ltd                          | Capital Ltd                              | CUSIP: N/A<br>LEI: 213800XG175G91JW8W37       | Long             | EC               | CORP              | MU        |   8685227 | NS      | $10185055.12  | 3.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Orezone Gold Corp                    | Orezone Gold Corp                        | CUSIP: 68616T109<br>LEI: 529900ZRY6WGGRC9Z698 | Long             | EC               | CORP              | CA        |  11087251 | NS      | $10317530.47  | 3.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Lion One Metals Ltd                  | Lion One Metals Ltd                      | CUSIP: 536216104<br>LEI: 5299006ERIP38PI1WO61 | Long             | EC               | CORP              | CA        |   1249340 | NS      | $913476.07    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Canfor Pulp Products Inc             | Canfor Pulp Products Inc                 | CUSIP: 137584207<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    174467 | NS      | $533451.54    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| ARC Resources Ltd                    | ARC Resources Ltd                        | CUSIP: 00208D408<br>LEI: FIR47I6FEYKYNJBYW622 | Long             | EC               | CORP              | CA        |    577703 | NS      | $7786617.25   | 2.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Condor Gold PLC                      | Condor Gold PLC                          | CUSIP: N/A<br>LEI: 213800PFKETQA86RHL82       | Long             | EC               | CORP              | GB        |   2810000 | NS      | $523163.60    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| CONDOR GOLD PLC                      | CONDOR GOLD PLC                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | GB        |   1425000 | NS      | $31698.82     | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| Erdene Resource Development Co       | Erdene Resource Development Corp         | CUSIP: 29480N206<br>LEI: 529900T4O899O2ZM8216 | Long             | EC               | CORP              | CA        |  11750338 | NS      | $2473298.62   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| ERDENE RESOURCE DEVELOPMENT WARRANTS | ERDENE RESOURCE DEVELOPMENT WARRANTS     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CA        |   2083333 | NS      | $63392.41     | 0.02%             |  |  |  | No            |                  3 | On Loan: No      |
| Bank of Cyprus Holdings PLC          | Bank of Cyprus Holdings PLC              | CUSIP: N/A<br>LEI: 635400L14KNHZXPUZM19       | Long             | EC               | CORP              | CY        |   3143618 | NS      | $5682223.69   | 2.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Troilus Gold Corp                    | Troilus Gold Corp                        | CUSIP: 896887106<br>LEI: 529900ROF3ICFG84XJ17 | Long             | EC               | CORP              | CA        |   2773220 | NS      | $983120.83    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Kenmare Resources PLC                | Kenmare Resources PLC                    | CUSIP: N/A<br>LEI: 635400ETHWP1EKJMDO16       | Long             | EC               | CORP              | IE        |   2746628 | NS      | $14560621.62  | 5.31%             |  |  |  | No            |                  1 | On Loan: No      |
| SEPLAT Energy PLC                    | SEPLAT Energy PLC                        | CUSIP: N/A<br>LEI: 029200711C4S4CB2E982       | Long             | EC               | CORP              | NG        |   3163891 | NS      | $4013642.60   | 1.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Superior Gold Inc                    | Superior Gold Inc                        | CUSIP: 86816U106<br>LEI: 52990002R7D8X4WC1Z35 | Long             | EC               | CORP              | CA        |   4715639 | NS      | $818445.47    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| International Petroleum Corp         | International Petroleum Corp             | CUSIP: 46016U108<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |   1516570 | NS      | $17249023.63  | 6.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Revival Gold Inc                     | Revival Gold Inc                         | CUSIP: 76151P101<br>LEI: 529900X2G2T7XSIDUH63 | Long             | EC               | CORP              | CA        |   5325905 | NS      | $2517414.48   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| REVIVAL GOLD INC-WARRANT             | REVIVAL GOLD INC-WARRANT                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CA        |   1000000 | NS      | $64918.76     | 0.02%             |  |  |  | No            |                  3 | On Loan: No      |
| O3 Mining Inc                        | O3 Mining Inc                            | CUSIP: 67113B108<br>LEI: 254900GYT95EHQUSZT78 | Long             | EC               | CORP              | CA        |   1309956 | NS      | $1460881.51   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Eldorado Gold Corp                   | Eldorado Gold Corp                       | CUSIP: 284902509<br>LEI: 5493004PWQ01YDD1IH62 | Long             | EC               | CORP              | CA        |    449946 | NS      | $3751765.39   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Wolverine Energy & Infrastruct       | Wolverine Energy & Infrastructure Inc    | CUSIP: 977891100<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    724192 | NS      | $37439.76     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinox Gold Corp                    | Equinox Gold Corp                        | CUSIP: 29446Y502<br>LEI: 5493005IN4V1SNP9PN75 | Long             | EC               | CORP              | CA        |   2436790 | NS      | $7972658.57   | 2.91%             |  |  |  | No            |                  1 | On Loan: No      |
| TROILUS GOLD CORP                    | Troilus Gold Corp                        | CUSIP: 896887122<br>LEI: 529900ROF3ICFG84XJ17 | N/A              | DE               | CORP              | CA        |    850000 | NS      | $37666.17     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Loncor Gold Inc                      | Loncor Gold Inc                          | CUSIP: 54180A106<br>LEI: 984500A3C7E387C68B41 | Long             | EC               | CORP              | CA        |   4142858 | NS      | $979109.72    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| LONCOR GOLD INC WARRANT              | LONCOR GOLD INC WARRANT                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CA        |    500000 | NS      | $6831.61      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| LONCOR GOLD INC - WARRANT 3          | LONCOR GOLD INC - WARRANT 3              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CA        |    500000 | NS      | $9527.33      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Algoma Steel Group Inc               | Algoma Steel Group Inc                   | CUSIP: 015658107<br>LEI: 549300Q5EU337A1XCX27 | Long             | EC               | CORP              | CA        |    611531 | NS      | $3861587.92   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Interfor Corp                        | Interfor Corp                            | CUSIP: 45868C109<br>LEI: 549300P4G5UZ3AMJE056 | Long             | EC               | CORP              | CA        |    618600 | NS      | $9594239.29   | 3.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Minera Alamos Inc                    | Minera Alamos Inc                        | CUSIP: 60283L105<br>LEI: 254900I6L38EFNS8Z440 | Long             | EC               | CORP              | CA        |  32761661 | NS      | $10646330.01  | 3.89%             |  |  |  | No            |                  1 | On Loan: No      |
| G Mining Ventures Corp               | G Mining Ventures Corp                   | CUSIP: 36261G102<br>LEI: 894500N5AZEQU0BLOT06 | Long             | EC               | CORP              | CA        |   3809011 | NS      | $1941076.51   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| i-80 Gold Corp                       | i-80 Gold Corp                           | CUSIP: 44955L106<br>LEI: 549300LFFIWIGUEXPK11 | Long             | EC               | CORP              | CA        |   1064476 | NS      | $2971727.68   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Toubani Resources Inc                | Toubani Resources Inc                    | CUSIP: 89157R104<br>LEI: 984500E554852C964176 | Long             | EC               | CORP              | CA        |   1300000 | NS      | $134416.54    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Cabral Gold Inc                      | Cabral Gold Inc                          | CUSIP: 127106102<br>LEI: 254900N2QCI00L02A477 | Long             | EC               | CORP              | CA        |   5411156 | NS      | $539517.03    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| CABRAL GOLD INC. WARRANT             | CABRAL GOLD INC. WARRANT                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | CA        |   5000000 | NS      | $67577.55     | 0.02%             |  |  |  | No            |                  3 | On Loan: No      |
| Stelco Holdings Inc                  | Stelco Holdings Inc                      | CUSIP: 858522105<br>LEI: 549300K1TSD2M8EKF208 | Long             | EC               | CORP              | CA        |    176970 | NS      | $5788774.96   | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Ardmore Shipping Corp                | Ardmore Shipping Corp                    | CUSIP: N/A<br>LEI: 549300J8HD7K6BHD8O28       | Long             | EC               | CORP              | IE        |    168579 | NS      | $2429223.39   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-21

**Name of Applicant:** Aegis Funds

**Signature:** Justin Harrison

**Name of Signer:** Aegis Funds

**Title:** Chief Compliance Officer