AVFAX — Aegis Value Fund
Data updated: 2026-08-27
AVFAX — Aegis Value Fund. Global (incl. US) Small Cap Value Equity · $1.13B AUM · 1.75% expense ratio. Holdings, fees, performance and SEC filings.
AVFAX Fund Overview
AVFAX — Aegis Value Fund is a US mutual fund managed by Aegis Funds, categorised as Global (incl. US) Small Cap Value Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Aegis Funds
- Category: Global (incl. US) Small Cap Value Equity
- Assets under management: $1.13B
- Ticker: AVFAX
- SEC CIK: 0001251896
- SEC series ID: S000043790
- Share class ID: C000135824
AVFAX Investment Objective and Strategy
Aegis Value Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Aegis Funds.
Investment objective
The Aegis Value Fund (the Fund) seeks long-term capital appreciation.
Principal investment strategy
The Fund invests primarily in common stocks that the Advisor believes are significantly undervalued relative to the market based on fundamental accounting measures including book value (assets less liabilities), revenues, or cash flow. This strategy is commonly known as a deep value investment strategy. The Fund may invest in securities issued by companies of any market capitalization, including small- and mid-capitalization companies. The Fund considers a small-capitalization company to be a company with a market capitalization (the value of all outstanding stock) of less than $1 billion at the time of investment. The Fund has no percentage allocation for investments in small- or mid-capitalization companies, and the Fund may invest up to 100% of its portfolio in the securities of these companies.
The Fund may also invest in the securities of foreign companies. The Advisor may hold a significant portion of the Funds portfolio in cash or cash equivalent instruments. If market conditions reduce the availability of securities with acceptable valuations, the Fund may, for extended periods, hold larger than usual cash reserves until securities with acceptable valuations become available. From time to time, the Fund may have significant amounts invested in securities of companies in the same economic sector. As of December 31, 2025, 44.5% and 29.3% of the Funds total investments were invested in the Materials and Energy sectors, respectively. The Fund may, from time to time, take temporary defensive positions in response to adverse market, economic, political or other conditions. To the extent the assets of the Fund are invested in temporary defensive positions, the Fund may not achieve its investment objective.
For temporary defensive purposes, the Fund may invest in cash and/or short-term obligations.
AVFAX Holdings
Top 10 holdings of Aegis Value Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Cenovus Energy Inc | 7.35% |
| International Petroleum Corp | 3.54% |
| Precision Drilling Corp | 3.35% |
| Equinox Gold Corp | 3.20% |
| Bank of Cyprus Holdings PLC | 3.05% |
| Harley-Davidson Inc | 2.97% |
| Capital Ltd | 2.83% |
| Hallador Energy Co | 2.70% |
| Vermilion Energy Inc | 2.66% |
| Radian Group Inc | 2.66% |
AVFAX Portfolio Allocation
Asset-class allocation of Aegis Value Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 98.2% |
| Fixed Income | 2.1% |
AVFAX Performance
Total returns for AVFAX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 11.2% |
| 1 year | 45.6% |
| 3 years (annualised) | 29.6% |
| 5 years (annualised) | 21.0% |
AVFAX Risk Information
Risk metrics for AVFAX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 18.4%
AVFAX Costs and Fees
AVFAX costs about $175 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.75%
- Gross expense ratio: 1.53%
- Portfolio turnover: 12%
- Brokerage commissions: 10.00 bps of average net assets (SEC N-CEN)
AVFAX Cashflows
Over the 12 months to 2026-06, Aegis Value Fund had net inflows of $281.49M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | −$100.58M |
| 2026-05 | −$24.32M |
| 2026-04 | $15.80M |
| 2026-03 | $11.60M |
| 2026-02 | $30.20M |
| 2026-01 | $44.65M |
AVFAX Debt Constituents
Largest debt holdings of Aegis Value Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Treasury Bill | 1.06% |
| Treasury Bill | 1.06% |
AVFAX Prospectus and SEC Filings
Official Aegis Value Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-04-29
- Prospectus (485BPOS) — filed 2025-04-28
- Prospectus (485BPOS) — filed 2024-04-26
- Portfolio holdings (N-PORT) — filed 2026-08-27
- Portfolio holdings (N-PORT) — filed 2026-05-28
- Portfolio holdings (N-PORT) — filed 2026-02-26
- Annual census (N-CEN) — filed 2026-03-13
- Annual census (N-CEN) — filed 2025-03-13
Related Funds
Other Global (incl. US) Small Cap Value Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.