Azarias Capital Management, L.P.

Q3 2025 13F-HR Holdings

Location
Berwyn, PA
Holdings as of
9/30/2025
Date filed
10/15/2025
Form type
13F-HR
Num holdings
24
Total value ($000)
$252,493
Net value change ($000)
+32,486 (14.8%)
New positions
1
Sold out positions
1
Turnover %
4.2%
Sector allocation + QoQ delta (equities-only)
Prev filing: 7/21/2025 Next filing: 1/23/2026 SEC filing

Snapshot: Change Analysis

Compared to Q2 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
MAN 7,797 NEW
URG 5,520 29.6%
SPY 5,145 7.8%
UUUU 4,215 85.4%
EXK 3,543 63.2%
GPOR 3,046 60.7%
DNN 2,460 44.1%
EU 2,421 23.0%
IPI 2,316 41.2%
SD 1,690 45.1%
Top Reduces (Value $000, Stocks/ETFs)
SCHL -3,007 -39.7%
IWN -2,823 -100.0%
MPAA -1,887 -27.4%
VPG -1,473 -24.4%
SMP -610 -7.7%
HCSG -468 -9.9%
MTRX -177 -2.1%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type