Azarias Capital Management, L.P.

CIK

1625279

Location

BERWYN, PA

Portfolio Value

Small $223,142,229

Diversification

Diversified

Filing Date

Global Rank

#3,637 / 8,232 ▲ 180

Top Industry

Uranium 39.0%

3Y Alpha vs SPY

+2.4%

Period ended 2 months ago

Filed Apr 16, 2026 · 58d

18 quarters · since Dec 2021

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+87.4%

SPY

+76.5%

Annualised alpha

+2.4%

Max drawdown

−38.5%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

24 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

31.0%

−0.8 pts

Top 5

53.4%

+0.5 pts

Top 10

72.3%

+1.5 pts

HHI

1,240

Diversified−27

Portfolio Trend

18 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Energy	36.0%	$80,271,991	9
Unclassified	31.0%	$69,235,846	1
Consumer Cyclical	10.6%	$23,582,436	5
Industrials	10.5%	$23,448,980	4
Basic Materials	7.3%	$16,305,062	2
Financial Services	2.6%	$5,767,005	1
Technology	2.0%	$4,530,909	2

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

9 positions

Ticker	Company	Δ Shares	Shares	Value
EU	enCore Energy Corp.	+934,857	5,067,708	$9,121,874
MPAA	Motorcar Parts Of America Inc	+316,461	532,869	$5,893,531
MTRX	Matrix Service Co	+86,254	817,021	$9,379,401
EIG	Employers Holdings, Inc.	+71,072	140,180	$5,767,005
MLR	Miller Industries Inc /Tn/	+70,379	110,426	$5,029,904
MTUS	Metallus Inc.	+58,511	543,322	$8,877,881
MAN	ManpowerGroup Inc.	+47,730	337,613	$9,946,078
TBI	TrueBlue, Inc.	+13,070	1,001,950	$3,917,624
GPOR	Gulfport Energy Corp	+3,848	42,121	$8,911,539
No positions match the current search.

Trimmed

Positions the filer reduced

10 positions

Ticker	Company	Δ Shares	Shares	Value
NXE	NexGen Energy Ltd.	−396,852	682,943	$7,922,138
URG	Ur-Energy Inc	−345,851	13,604,304	$20,270,412
COHU	Cohu Inc	−177,648	59,559	$1,823,696
IPI	Intrepid Potash, Inc.	−121,216	173,654	$7,427,181
SD	Sandridge Energy Inc	−98,178	312,396	$5,095,178
HOFT	HOOKER FURNISHINGS Corp	−76,003	397,176	$5,115,626
UUUU	Energy Fuels Inc	−38,500	380,528	$6,944,636
CCJ	Cameco Corp	−37,357	50,371	$5,470,794
UFI	Unifi Inc	−28,876	875,137	$3,124,239
SMP	Standard Motor Products, Inc.	−24,735	127,206	$4,419,136
No positions match the current search.

New Positions

Positions the filer opened this quarter

3 positions

Ticker	Company	Shares	Value
SDRL	Seadrill Ltd	136,645	$6,217,347
AVT	Avnet Inc	43,934	$2,707,213
AGX	Argan Inc	378	$205,877
No positions match the current search.

Sold Out

Positions the filer fully exited

4 positions

Ticker	Company	Shares	Value
KMT	Kennametal Inc	214,288	$6,087,922
EXK	Endeavour Silver Corp	630,009	$5,922,084
SCHL	Scholastic Corp	61,522	$1,822,896
VPG	Vishay Precision Group, Inc.	44,054	$1,696,079
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

24 positions · $223,142,229 total · as of Mar 31, 2026

All sectors Basic Materials Consumer Cyclical Energy Financial Services Industrials Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
SPY	Spdr S&P 500 ETF Trust	Held	106,461	0	$69,235,846	−4.6%	31.03%
URG	Ur-Energy Inc Energy	Reduced	13,604,304	-345,851	$20,270,412	+4.5%	9.08%
DNN	Denison Mines Corp. Energy	Held	2,922,967	0	$10,318,073	+32.7%	4.62%
MAN	ManpowerGroup Inc. Industrials	Added	337,613	+47,730	$9,946,078	+15.4%	4.46%
MTRX	Matrix Service Co Industrials	Added	817,021	+86,254	$9,379,401	+9.7%	4.20%
EU	enCore Energy Corp. Energy	Added	5,067,708	+934,857	$9,121,874	−11.0%	4.09%
GPOR	Gulfport Energy Corp Energy	Added	42,121	+3,848	$8,911,539	+11.9%	3.99%
MTUS	Metallus Inc. Basic Materials	Added	543,322	+58,511	$8,877,881	+6.7%	3.98%
NXE	NexGen Energy Ltd. Energy	Reduced	682,943	-396,852	$7,922,138	−20.3%	3.55%
IPI	Intrepid Potash, Inc. Basic Materials	Reduced	173,654	-121,216	$7,427,181	−9.2%	3.33%
UUUU	Energy Fuels Inc Energy	Reduced	380,528	-38,500	$6,944,636	+14.0%	3.11%
SDRL	Seadrill Ltd Energy	NEW	136,645	NEW	$6,217,347	NEW	2.79%
MPAA	Motorcar Parts Of America Inc Consumer Cyclical	Added	532,869	+316,461	$5,893,531	+120.7%	2.64%
EIG	Employers Holdings, Inc. Financial Services	Added	140,180	+71,072	$5,767,005	+93.3%	2.58%
CCJ	Cameco Corp Energy	Reduced	50,371	-37,357	$5,470,794	−31.8%	2.45%
HOFT	HOOKER FURNISHINGS Corp Consumer Cyclical	Reduced	397,176	-76,003	$5,115,626	−4.2%	2.29%
SD	Sandridge Energy Inc Energy	Reduced	312,396	-98,178	$5,095,178	−14.0%	2.28%
MLR	Miller Industries Inc /Tn/ Consumer Cyclical	Added	110,426	+70,379	$5,029,904	+236.1%	2.25%
SMP	Standard Motor Products, Inc. Consumer Cyclical	Reduced	127,206	-24,735	$4,419,136	−21.1%	1.98%
TBI	TrueBlue, Inc. Industrials	Added	1,001,950	+13,070	$3,917,624	−12.9%	1.76%
UFI	Unifi Inc Consumer Cyclical	Reduced	875,137	-28,876	$3,124,239	−1.3%	1.40%
AVT	Avnet Inc Technology	NEW	43,934	NEW	$2,707,213	NEW	1.21%
COHU	Cohu Inc Technology	Reduced	59,559	-177,648	$1,823,696	−67.0%	0.82%
AGX	Argan Inc Industrials	NEW	378	NEW	$205,877	NEW	0.09%