About our Firm

Introduction to AEGIS

Aegis Financial Corporation serves as the investment advisor to the Aegis Value Fund, a series of The Aegis Funds, and offers institutional and private client investment management services through separately managed accounts. Aegis Financial is a deep-value oriented investment firm that endeavors to deliver strong investor returns by focusing on securities trading at sizable discounts to assessed fundamental value.

Experience, Independence and Discipline

Since its founding in 1998, the Aegis Value Fund has adhered to a deep-value philosophy, focusing on securities trading in the lowest quintile of the stock market on price-to-book value.

Aegis Value Fund Portfolio Manager Scott Barbee has built a continuous 20-year track record of deep-value investing, successfully navigating the Fund through a meaningful variety of market conditions since its inception.

Aegis Financial Corporation, the advisor, is internally owned and prioritizes long-term investment growth over short-term externally-driven asset growth.

The investment team is strongly committed to the deep-value strategy, with over $20 million co-invested in the Fund.

Our Team

Scott Barbee, CFA

Portfolio Manager

Mr. Barbee has been Portfolio Manager of the Aegis Value Fund since its inception in 1998 and is the controlling shareholder of Aegis Financial Corporation. Prior to Aegis, Mr. Barbee worked as an analyst covering oilfield services at Simmons & Company, and later as a generalist with deep value advisor Donald Smith & Company. Mr. Barbee received his M.B.A. from the Wharton School at the University of Pennsylvania and holds a B.S. degree in Mechanical Engineering and a B.A. degree in Economics from Rice University.

Jason Nelson

Senior Analyst

Mr. Nelson has been a buy-side securities analyst since 2005 and joined Aegis Financial in 2012. Prior to Aegis, Mr. Nelson worked as an equity and high yield analyst at deep value advisor Roumell Asset Management. Prior to his tenure at Roumell, he was an Associate at Wachovia Securities. Mr. Nelson holds a Masters in Accounting from the College of William & Mary, where he graduated with honors as class valedictorian. Mr. Nelson holds a B.A. degree in History from Hampden-Sydney College.

Justin Harrison, CFA


Mr. Harrison joined Aegis Financial in 2018 as the Chief Operating Officer, and serves as the Chief Compliance Officer of Aegis Financial and the Aegis Value Fund. Mr. Harrison joined with a decade of experience in asset management. The majority of his investing tenure was as a Partner & Senior Analyst with Ramsey Asset Management. Additionally, he spent over ten years in the technology industry, where he held senior operational roles including Vice President & Interim Chief Financial Officer. Mr. Harrison received his B.S. in Mechanical & Aerospace Engineering from Cornell University and is a CFA Charterholder.

Ivan Martinez

Head of Trading

Mr. Martinez joined Aegis Financial as Trader in 2013. He has worked in securities trading since 2000, beginning his career with UBS. Mr. Martinez spent five years as Vice President at FBR Capital Markets trading equities and later became Head Trader at BGB Securities, where he was responsible for all debt and equity trading. Mr. Martinez holds a B.B.A. degree in Finance from James Madison University.

Chanpong Kongkatigumjorn

Head of Operations

Mr. Kongkatigumjorn started his career at Aegis Financial in 1998. As Controller, he oversees the firm’s administrative operational activities and back-office functions including trade settlement and account servicing. He received his M.B.A. from The George Washington University and a B.B.A. from Assumption University in Thailand.



A ratio used to compare a stock's market value to its book value. It is calculated by dividing the current closing price of the stock by the latest quarter's book value per share.