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Asset Manager ← All Institutions

Azarias Capital Management, L.P.

1055 WESTLAKES DRIVE, SUITE 300, BERWYN, PA 19312 • 215-494-3300

Q2 2025 · Filed 2025-07-21
Market Value
$209M
+20.8%
Holdings
25
+1
New Purchases
3
Added To
6
Closed
2
Reduced
12
Top 10 Concentration
70.5%
Turnover
20.0%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
EXK 2.68% 0.00% +2.68% $6M
GPOR 2.39% 0.00% +2.39% $5M
URG 8.90% 6.97% +1.93% $19M
COHU 2.17% 0.59% +1.58% $5M
IWN 1.35% 0.00% +1.35% $3M
SD 1.79% 0.47% +1.32% $4M
CCJ 3.42% 2.65% +0.77% $7M
UUUU 2.35% 1.96% +0.39% $5M
DNN 2.66% 2.30% +0.37% $6M
TMST 4.36% 4.00% +0.36% $9M
KMT 3.03% 2.90% +0.13% $6M
NXE 4.69% 4.63% +0.06% $10M
VPG 2.88% 2.82% +0.06% $6M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
SPY 31.40% 34.33% -2.93% $66M
MAG 0.00% 2.58% -2.58% $0
RELL 0.00% 1.84% -1.84% $0
HCSG 2.26% 3.77% -1.52% $5M
IPI 2.69% 4.06% -1.37% $6M
HOFT 1.79% 2.81% -1.02% $4M
UFI 1.67% 2.62% -0.94% $4M
TBI 2.78% 3.29% -0.51% $6M
SCHL 3.62% 4.03% -0.41% $8M
MPAA 3.29% 3.48% -0.18% $7M
SMP 3.78% 3.82% -0.04% $8M
MTRX 4.05% 4.09% -0.04% $8M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Financial Services 36.1%
Energy 31.2%
Consumer Cyclical 11.3%
Industrials 11.3%
Basic Materials 7.8%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 1 $66M 31.4%
Large Cap 2 $10M 4.8%
Mid Cap 8 $42M 20.0%
Small Cap 9 $72M 34.3%
Micro Cap 5 $20M 9.5%

Portfolio Analytics

Avg Market Cap
$34.6B
Median Market Cap
$1.4B
Avg P/E
73.2
Median P/E
31.0
Avg Dividend Yield
0.01%
Avg Beta
1.20
# Stocks
23
# ETFs / Funds
2

Top Holdings (25 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 SPY 31.40% 106,461 $66M $617.85 $6M
2 URG 8.90% 17,764,624 $19M $1.05 $7M -181,184 -1.0%
3 NXE 4.69% 1,414,414 $10M $6.94 $2M -374,237 -20.9%
4 TMST 4.36% 593,036 $9M $15.41 $2M +73,263 +14.1%
5 MTRX 4.05% 627,766 $8M $13.51 $1M +56,611 +9.9%
6 SMP 3.78% 257,726 $8M $30.72 $1M -8,327 -3.1%
7 SCHL 3.62% 361,220 $8M $20.98 $593K -8,785 -2.4%
8 CCJ 3.42% 96,572 $7M $74.23 $3M -15,094 -13.5%
9 MPAA 3.29% 615,852 $7M $11.20 $868K -18,797 -3.0%
10 KMT 3.03% 276,451 $6M $22.96 $1M +40,483 +17.2%
11 VPG 2.88% 214,564 $6M $28.10 $1M +11,274 +5.5%
12 TBI 2.78% 899,119 $6M $6.48 $123K -174,950 -16.3%
13 IPI 2.69% 157,522 $6M $35.73 -$1M -81,858 -34.2%
14 EXK 2.68% 1,139,331 $6M $4.92 +1,139,331 NEW
15 DNN 2.66% 3,064,876 $6M $1.82 $2M
16 GPOR 2.39% 24,931 $5M $201.17 +24,931 NEW
17 UUUU 2.35% 857,933 $5M $5.75 $2M -53,788 -5.9%
18 HCSG 2.26% 314,806 $5M $15.03 -$2M -334,750 -51.5%
19 COHU 2.17% 235,811 $5M $19.24 $4M +166,432 +239.9%
20 HOFT 1.79% 354,190 $4M $10.58 -$1M -131,517 -27.1%
21 SD 1.79% 346,070 $4M $10.82 $3M +274,594 +384.2%
22 UFI 1.67% 671,986 $4M $5.22 -$1M -271,378 -28.8%
23 IWN 1.35% 17,897 $3M $157.76 +17,897 NEW
24 MAG —% -$4M -293,244 -100.0% SOLD
25 RELL —% -$3M -285,710 -100.0% SOLD

New Positions

SymbolValue% Port
EXK $6M 2.68%
GPOR $5M 2.39%
IWN $3M 1.35%

Sold Out Positions

SymbolValue% Port
RELL —%
MAG —%
View SEC EDGAR Filings for Azarias Capital Management, L.P. →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms