Aegis Financial Corp. Amends HNRG Stake Filing as of Dec 31, 2023

TL;DR

**Aegis Financial Corp. just updated its HNRG stake, showing continued institutional interest.**

AI Summary

Aegis Financial Corporation, a Delaware-incorporated entity, filed an amended Schedule 13G/A on February 8, 2024, indicating its ownership of Hallador Energy Company (HNRG) common stock as of December 31, 2023. This filing updates previous disclosures, confirming Aegis Financial Corporation continues to hold a significant, though not specified in this excerpt, stake in the bituminous coal and lignite mining company. This matters to investors as it shows a notable institutional investor maintains its position, potentially signaling confidence in HNRG's long-term prospects.

Why It Matters

This filing confirms Aegis Financial Corporation's continued institutional ownership in Hallador Energy, providing transparency on a key investor's position and potentially influencing market perception.

Risk Assessment

Risk Level: low — This is a routine amendment filing by an institutional investor, not indicating any immediate significant risk or opportunity.

Analyst Insight

Investors should note Aegis Financial Corporation's continued presence as an institutional holder in Hallador Energy, but this filing alone doesn't provide enough detail on the size of the stake or changes to warrant immediate action. Further investigation into Aegis's investment thesis and Hallador's recent performance would be prudent.

Key Numbers

• 40609P105 — CUSIP Number (identifies Hallador Energy Company's Common Stock)
• 0000788965 — Central Index Key (CIK) (identifies Hallador Energy Company)
• 0001140753 — Central Index Key (CIK) (identifies Aegis Financial Corporation)
• 54-1712996 — IRS Identification No. (identifies Aegis Financial Corporation)
• 005-37955 — SEC File Number (identifies Hallador Energy Company's registration under the 1934 Act)

Key Players & Entities

• Aegis Financial Corporation (company) — the reporting person filing the SC 13G/A
• Hallador Energy Company (company) — the subject company whose securities are being reported
• SCOTT L. BARBEE (person) — listed as a group member in the filing
• 01 Energy & Transportation (company) — listed as a group member in the filing
• December 31, 2023 (date) — the date of the event requiring the filing

Forward-Looking Statements

• Aegis Financial Corporation will maintain its significant stake in Hallador Energy Company for the foreseeable future. (Aegis Financial Corporation) — medium confidence, target: December 31, 2024

FAQ

Filing Documents

• tm244983d1_sc13g.htm (SC 13G/A) — 61KB
• 0001104659-24-011889.txt ( ) — 63KB

From the Filing

SC 13G/A 1 tm244983d1_sc13g.htm SC 13G UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 2) Hallador Energy Company (Name of Issuer) Common Stock (Title of Class of Securities) 40609P105 (CUSIP Number) December 31, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: Rule 13d-1(b) Rule 13d-1(c) Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise CUSIP No. 40609P105 1. Names of Reporting Persons I.R.S. Identification No. of Above Persons (Entities Only) Aegis Financial Corporation 54-1712996 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) 3. SEC Use Only 4. Citizenship or Place of Organization Delaware Number of Shares Beneficially Owned by Each Reporting Person With 5. Sole Voting Power 0 6. Shared Voting Power 2,076,102 7. Sole Dispositive Power 0 8. Shared Dispositive Power 2,076,102 9. Aggregate Amount Beneficially Owned by Each Reporting Person 2,076,102 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) 11. Percent of Class Represented by Amount in Row (9) 6.3% 12. Type of Reporting Person (See Instructions) IA 2 CUSIP No. 40609P105 1. Names of Reporting Persons I.R.S. Identification No. of Above Persons (Entities Only) Scott L. Barbee 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) 3. SEC Use Only 4. Citizenship or Place of Organization United States Number of Shares Beneficially Owned by Each Reporting Person With 5. Sole Voting Power 0 6. Shared Voting Power 2,076,102 7. Sole Dispositive Power 0 8. Shared Dispositive Power 2,076,102 9. Aggregate Amount Beneficially Owned by Each Reporting Person 2,076,102 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) 11. Percent of Class Represented by Amount in Row (9) 6.3% 12. Type of Reporting Person (See Instructions) IN 3 Item 1. (a) Name of Issuer Hallador Energy Company (b) Address of Issuer’s Principal Executive Offices 1183 East Canvasback Drive, Terre Haute, IN 47802 Item 2. (a) Name of Person Filing (i) Aegis Financial Corporation ("AFC") (ii) Scott L. Barbee ("Barbee") (b) Address of Principal Business Office or, if none, Residence 6862 Elm Street, Suite 830 McLean, Virginia 22101 (c) Citizenship (i) AFC: Delaware (ii) Barbee: United States (d) Title of Class of Securities: Common Stock (e) CUSIP Number: 40609P105 Item 3. If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o); (b) Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); (c) Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c); (d) Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); (e) An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E); (f) An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F); (g) A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G); (h) A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) A non-U.S. institution in accordance with § 240.13d–1(b)(1)(ii)(J); (k) Group, in accordance with § 240.13d–1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with § 240.13d–1(b)(1)(ii)(J), please specify the type of institution:____________________________ 4 Item 4. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: 2,076,102 shares may be deemed beneficially owned within the meaning of Rule 13d-3 of the Act by (1) Aegis Financial Corporation by virtue of its investment discretion and/or voting authority granted by certain clients; and (2) Scott L. Barbee by virtue of his control of Ae

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View this SC 13G/A filing on SEC EDGAR