Azarias Capital Management, L.P. — 13F Holdings & Portfolio
CIK 1625279 · latest 13F-HR filed 2026-07-13
Azarias Capital Management, L.P. manages $229.8M in 13F-reported U.S. long-equity assets across 23 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are SPY (34.59%), URG (7.81%), DNN (5.64%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 1 new position, exited 2, added to 10, and trimmed 11.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
SUITE 150
WEST CHESTER, PA 19382
$229.8M
Long-equity book
23
Distinct positions
2026-06-30
Filed 2026-07-13
+1 / −2 / ↑10 / ↓11
vs 2026-03-31
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- STATE STR SPDR S&P 500 ETF T$10.3M +14.8%
- DENISON MINES CORP$2.7M +25.7%
- SEADRILL LTD$1.8M +28.5%
- TRUEBLUE INC$1.4M +35.1%
- MOTORCAR PTS AMER INC$1.1M +19.1%
Top Trims
- ENCORE ENERGY CORP-$3.8M -41.2%
- UR-ENERGY INC-$2.3M -11.4%
- INTREPID POTASH INC-$1.6M -21.3%
- NEXGEN ENERGY LTD-$1.5M -19.1%
- ENERGY FUELS INC-$1.4M -20.5%
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | STATE STR SPDR S&P 500 ETF T | SPY | 78462F103 | $79.5M | 34.59% | 106,461 | SH |
| 2 | UR-ENERGY INC | URG | 91688R108 | $18.0M | 7.81% | 13,199,479 | SH |
| 3 | DENISON MINES CORP | DNN | 248356107 | $13.0M | 5.64% | 4,238,742 | SH |
| 4 | MATRIX SVC CO | MTRX | 576853105 | $9.2M | 4.02% | 673,692 | SH |
| 5 | MANPOWERGROUP INC WIS | MAN | 56418H100 | $9.0M | 3.91% | 266,146 | SH |
| 6 | SEADRILL LTD | SDRL | G7997W102 | $8.0M | 3.48% | 211,301 | SH |
| 7 | GULFPORT ENERGY CORP | GPOR | 402635502 | $7.9M | 3.43% | 46,439 | SH |
| 8 | METALLUS INC | MTUS | 887399103 | $7.8M | 3.41% | 419,507 | SH |
| 9 | MOTORCAR PTS AMER INC | MPAA | 620071100 | $7.0M | 3.06% | 458,325 | SH |
| 10 | MOLINA HEALTHCARE INC | MOH | 60855R100 | $7.0M | 3.04% | 30,593 | SH |
| 11 | EMPLOYERS HLDGS INC | EIG | 292218104 | $6.7M | 2.90% | 132,159 | SH |
| 12 | NEXGEN ENERGY LTD | NXE | 65340P106 | $6.4M | 2.79% | 682,943 | SH |
| 13 | HOOKER FURNISHINGS CORPORATI | HOFT | 439038100 | $6.0M | 2.61% | 336,453 | SH |
| 14 | INTREPID POTASH INC | IPI | 46121Y201 | $5.8M | 2.54% | 178,281 | SH |
| 15 | MILLER INDS INC TENN | MLR | 600551204 | $5.6M | 2.45% | 109,926 | SH |
| 16 | ENERGY FUELS INC | UUUU | 292671708 | $5.5M | 2.40% | 380,528 | SH |
| 17 | ENCORE ENERGY CORP | EU | 29259W700 | $5.4M | 2.33% | 4,091,894 | SH |
| 18 | TRUEBLUE INC | TBI | 89785X101 | $5.3M | 2.30% | 759,341 | SH |
| 19 | CAMECO CORP | CCJ | 13321L108 | $5.1M | 2.23% | 50,371 | SH |
| 20 | STANDARD MTR PRODS INC | SMP | 853666105 | $4.7M | 2.05% | 121,073 | SH |
| 21 | SANDRIDGE ENERGY INC | SD | 80007P869 | $4.4M | 1.92% | 321,558 | SH |
| 22 | UNIFI INC | UFI | 904677200 | $2.2M | 0.94% | 456,722 | SH |
| 23 | ARGAN INC | AGX | 04010E109 | $301.9K | 0.13% | 378 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-07-13 | $229.8M | 23 | 0001625279-26-000004 |
| 2026-03-31 | 2026-04-16 | $223.1M | 24 | 0001625279-26-000003 |
| 2025-12-31 | 2026-01-23 | $228.4M | 25 | 0001625279-26-000002 |