Azarias Capital Management, L.P. Long-Term Concentrated

Location: Berwyn, PA

CIK: 0001625279 · Show all filings

Period: Q4 2025 (← Previous) (Next →)

Filing Date: Jan 23, 2026

Total Value: $228M (100.0% shares, 0.0% debt)

Holdings (25)

SPY SPDR S&P 500 ETF TR 31.8%

Value $72.6M Shares 106,461 Est. Cost $559.39 Unrealized —

URG UR-ENERGY INC 8.5%

Value $19.39M Shares 13,950,155 Est. Cost $1.40 Unrealized +5.8%

EU ENCORE ENERGY CORP 4.5%

Value $10.25M Shares 4,132,851 Est. Cost $3.71 Unrealized -23.0%

NXE NEXGEN ENERGY LTD 4.3%

Value $9.934M Shares 1,079,795 Est. Cost $5.28 Unrealized +67.3%

MAN MANPOWERGROUP INC WIS 3.8%

Value $8.618M Shares 289,883 Est. Cost $38.33 Unrealized -18.5%

MTRX MATRIX SVC CO 3.7%

Value $8.55M Shares 730,767 Est. Cost $10.24 Unrealized +22.7%

MTUS METALLUS INC 3.6%

Value $8.319M Shares 484,811 Est. Cost $14.88 Unrealized +15.2%

IPI INTREPID POTASH INC 3.6%

Value $8.177M Shares 294,870 Est. Cost $26.44 Unrealized +1.7%

CCJ CAMECO CORP 3.5%

Value $8.026M Shares 87,728 Est. Cost $25.79 Unrealized +248.7%

GPOR GULFPORT ENERGY CORP 3.5%

Value $7.96M Shares 38,273 Est. Cost $181.00 Unrealized +10.1%

DNN DENISON MINES CORP 3.4%

Value $7.775M Shares 2,922,967 Est. Cost $1.61 Unrealized +69.1%

UUUU ENERGY FUELS INC 2.7%

Value $6.093M Shares 419,028 Est. Cost $7.31 Unrealized +132.3%

KMT KENNAMETAL INC 2.7%

Value $6.088M Shares 214,288 Est. Cost $22.38 Unrealized +13.2%

SD SANDRIDGE ENERGY INC 2.6%

Value $5.925M Shares 410,574 Est. Cost $10.68 Unrealized +23.9%

EXK ENDEAVOUR SILVER CORP 2.6%

Value $5.922M Shares 630,009 Est. Cost $3.99 Unrealized +112.7%

SMP STANDARD MTR PRODS INC 2.5%

Value $5.599M Shares 151,941 Est. Cost $31.10 Unrealized +23.4%

COHU COHU INC 2.4%

Value $5.52M Shares 237,207 Est. Cost $18.40 Unrealized +24.6%

HOFT HOOKER FURNISHINGS CORPORATI 2.3%

Value $5.342M Shares 473,179 Est. Cost $17.55 Unrealized -42.7%

TBI TRUEBLUE INC 2.0%

Value $4.499M Shares 988,880 Est. Cost $11.13 Unrealized -53.9%

UFI UNIFI INC 1.4%

Value $3.164M Shares 904,013 Est. Cost $9.58 Unrealized -59.6%

EIG EMPLOYERS HLDGS INC 1.3%

Value $2.983M Shares 69,108 Est. Cost $40.61 Unrealized 0.0%

MPAA MOTORCAR PTS AMER INC 1.2%

Value $2.67M Shares 216,408 Est. Cost $12.68 Unrealized +13.7%

SCHL SCHOLASTIC CORP 0.8%

Value $1.823M Shares 61,522 Est. Cost $30.61 Unrealized -7.1%

VPG VISHAY PRECISION GROUP INC 0.7%

Value $1.696M Shares 44,054 Est. Cost $23.47 Unrealized +50.7%

MLR MILLER INDS INC TENN 0.7%

Value $1.497M Shares 40,047 Est. Cost $38.78 Unrealized 0.0%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SPY	SPDR S&P 500 ETF TR	106,461	$72.6M	31.8%	$559.39	—	TR UNIT	78462F103
URG	UR-ENERGY INC	13,950,155	$19.39M	8.5%	$1.40	+5.8%	COM	91688R108
EU	ENCORE ENERGY CORP	4,132,851	$10.25M	4.5%	$3.71	-23.0%	COM NEW	29259W700
NXE	NEXGEN ENERGY LTD	1,079,795	$9.934M	4.3%	$5.28	+67.3%	COM	65340P106
MAN	MANPOWERGROUP INC WIS	289,883	$8.618M	3.8%	$38.33	-18.5%	COM	56418H100
MTRX	MATRIX SVC CO	730,767	$8.55M	3.7%	$10.24	+22.7%	COM	576853105
MTUS	METALLUS INC	484,811	$8.319M	3.6%	$14.88	+15.2%	COM	887399103
IPI	INTREPID POTASH INC	294,870	$8.177M	3.6%	$26.44	+1.7%	COM	46121Y201
CCJ	CAMECO CORP	87,728	$8.026M	3.5%	$25.79	+248.7%	COM	13321L108
GPOR	GULFPORT ENERGY CORP	38,273	$7.96M	3.5%	$181.00	+10.1%	COMMON SHARES	402635502
DNN	DENISON MINES CORP	2,922,967	$7.775M	3.4%	$1.61	+69.1%	COM	248356107
UUUU	ENERGY FUELS INC	419,028	$6.093M	2.7%	$7.31	+132.3%	COM NEW	292671708
KMT	KENNAMETAL INC	214,288	$6.088M	2.7%	$22.38	+13.2%	COM	489170100
SD	SANDRIDGE ENERGY INC	410,574	$5.925M	2.6%	$10.68	+23.9%	COM NEW	80007P869
EXK	ENDEAVOUR SILVER CORP	630,009	$5.922M	2.6%	$3.99	+112.7%	COM	29258Y103
SMP	STANDARD MTR PRODS INC	151,941	$5.599M	2.5%	$31.10	+23.4%	COM	853666105
COHU	COHU INC	237,207	$5.52M	2.4%	$18.40	+24.6%	COM	192576106
HOFT	HOOKER FURNISHINGS CORPORATI	473,179	$5.342M	2.3%	$17.55	-42.7%	COM	439038100
TBI	TRUEBLUE INC	988,880	$4.499M	2.0%	$11.13	-53.9%	COM	89785X101
UFI	UNIFI INC	904,013	$3.164M	1.4%	$9.58	-59.6%	COM NEW	904677200
EIG	EMPLOYERS HLDGS INC	69,108	$2.983M	1.3%	$40.61	0.0%	COM	292218104
MPAA	MOTORCAR PTS AMER INC	216,408	$2.67M	1.2%	$12.68	+13.7%	COM	620071100
SCHL	SCHOLASTIC CORP	61,522	$1.823M	0.8%	$30.61	-7.1%	COM	807066105
VPG	VISHAY PRECISION GROUP INC	44,054	$1.696M	0.7%	$23.47	+50.7%	COM	92835K103
MLR	MILLER INDS INC TENN	40,047	$1.497M	0.7%	$38.78	0.0%	COM NEW	600551204