AZARIAS CAPITAL MANAGEMENT L P
Q3 2026 Form 13-F
BERWYN, PENNSYLVANIA
CIK 0001625279
· CRD 174466
· SEC-registered investment adviser
$168.4M Reported Value Total
AZARIAS CAPITAL MANAGEMENT, L.P. reports 6 total accounts under management (AUM). There are 6 discretionary accounts valued at $188,823,949, and 0 non-discretionary accounts.
Source: Form ADV filed * Note that certain holdings are exempt from Form 13-F reporting, so the AUM totals may be greater than the Form 13-F total.
Private funds (Form ADV)
2 funds
· $37.5M gross asset value
Hedge Fund: $37.5M
Source: Form ADV filed 2026-06-09
Reported value
$168.4M
Quarter over quarter
-2.9%
Holdings
23
Top-10 concentration
80.2%
Key People
Form ADV owners & control persons
Daren Clark Heitman
MANAGING MEMBER
Christopher Scott Caton
PARTNER & CO-PORTFOLIO MANAGER
Christopher James Gillespie
PARTNER & CO-PORTFOLIO MANAGER
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13F Metrics
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Q3 2026 13F record
Q3 2026 13F filing summary
| Period of report | September 30, 2026 |
|---|---|
| Filed | October 14, 2026 |
| Form | 13F-HR |
| Reported value | $168.4M |
| Positions | 23 |
| Change in reported value | -26.7% |
| New positions | 1 |
| Exited positions | 1 |
| Position turnover | 8.3% |
| Top-10 concentration | 80.2% |
13F filings by quarter
| Quarter | Positions | Value |
|---|---|---|
|
Q3 2026 13F
Filed Oct 14, 2026
|
23 | $168.4M |
|
Q2 2026 13F
Filed Jul 13, 2026
|
23 | $229.8M |
|
Q1 2026 13F
Filed Apr 16, 2026
|
24 | $223.1M |
|
Q4 2025 13F
Filed Jan 23, 2026
|
25 | $228.4M |
|
Q3 2025 13F
Filed Oct 15, 2025
|
24 | $252.5M |
|
Q2 2025 13F
Filed Jul 21, 2025
|
24 | $220.0M |
|
Q1 2025 13F
Filed Apr 22, 2025
|
23 | $180.5M |
|
Q4 2024 13F
Filed Jan 30, 2025
|
22 | $223.2M |
|
Q3 2024 13F
Filed Nov 4, 2024
|
20 | $224.9M |
|
Q2 2024 13F
Filed Jul 26, 2024
|
21 | $222.4M |
|
Q1 2024 13F
Filed Apr 19, 2024
|
23 | $238.5M |
|
Q4 2023 13F
Filed Jan 19, 2024
|
23 | $224.8M |
|
Q3 2023 13F
Filed Oct 24, 2023
|
21 | $202.4M |
|
Q2 2023 13F
Filed Aug 11, 2023
|
21 | $119.6M |
|
Q1 2023 13F
Filed May 15, 2023
|
19 | $110.6M |
|
Q4 2022 13F
Filed Feb 14, 2023
|
18 | $109.3M |
|
Q3 2022 13F
Filed Nov 10, 2022
|
18 | $91.4M |
|
Q2 2022 13F
Filed Aug 10, 2022
|
18 | $91.9M |
|
Q1 2022 13F
Filed May 13, 2022
|
19 | $115.2M |
|
Q4 2021 13F
Filed Feb 14, 2022
|
21 | $111.6M |
Top 20 holdings · Q3 2026
| # | Holding | Reported value | % of portfolio |
|---|---|---|---|
| 1 | SPY STATE STR SPDR S&P 500 ETF T | $81.2M | 48.2% |
| 2 | URG UR-ENERGY INC | $12.0M | 7.11% |
| 3 | DNN DENISON MINES CORP | $10.8M | 6.39% |
| 4 | NXE NEXGEN ENERGY LTD | $6.2M | 3.68% |
| 5 | CCJ CAMECO CORP | $4.9M | 2.89% |
| 6 | SDRL SEADRILL LTD | $4.7M | 2.8% |
| 7 | UUUU ENERGY FUELS INC | $4.2M | 2.49% |
| 8 | MTRX MATRIX SVC CO | $4.1M | 2.42% |
| 9 | GPOR GULFPORT ENERGY CORP | $3.6M | 2.16% |
| 10 | TBI TRUEBLUE INC | $3.5M | 2.1% |
| 11 | MPAA MOTORCAR PTS AMER INC | $3.3M | 1.98% |
| 12 | MTUS METALLUS INC | $3.3M | 1.97% |
| 13 | MAN MANPOWERGROUP INC WIS | $3.2M | 1.9% |
| 14 | IPI INTREPID POTASH INC | $3.1M | 1.86% |
| 15 | MOH MOLINA HEALTHCARE INC | $3.0M | 1.77% |
| 16 | LKQ LKQ CORP | $2.8M | 1.69% |
| 17 | EU ENCORE ENERGY CORP | $2.3M | 1.38% |
| 18 | EIG EMPLOYERS HLDGS INC | $2.3M | 1.34% |
| 19 | SMP STANDARD MTR PRODS INC | $2.2M | 1.32% |
| 20 | SD SANDRIDGE ENERGY INC | $2.2M | 1.28% |
Values as reported on the Q3 2026 Form 13F. Every position is in the holdings table below.