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 Share Price $681.92 Est. Cost/Share $587.78 Unrealized @ Report Date +16.0%

URG UR-ENERGY INC 8.5%

Value $19.39M Shares 13,950,155 Share Price $1.39 Est. Cost/Share $1.40 Unrealized @ Report Date -0.7%

EU ENCORE ENERGY CORP 4.5%

Value $10.25M Shares 4,132,851 Share Price $2.48 Est. Cost/Share $3.71 Unrealized @ Report Date -33.2%

NXE NEXGEN ENERGY LTD 4.3%

Value $9.934M Shares 1,079,795 Share Price $9.20 Est. Cost/Share $5.28 Unrealized @ Report Date +74.3%

MAN MANPOWERGROUP INC WIS 3.8%

Value $8.618M Shares 289,883 Share Price $29.73 Est. Cost/Share $38.33 Unrealized @ Report Date -22.4%

MTRX MATRIX SVC CO 3.7%

Value $8.55M Shares 730,767 Share Price $11.70 Est. Cost/Share $10.24 Unrealized @ Report Date +14.2%

MTUS METALLUS INC 3.6%

Value $8.319M Shares 484,811 Share Price $17.16 Est. Cost/Share $14.88 Unrealized @ Report Date +15.3%

IPI INTREPID POTASH INC 3.6%

Value $8.177M Shares 294,870 Share Price $27.73 Est. Cost/Share $26.44 Unrealized @ Report Date +4.9%

CCJ CAMECO CORP 3.5%

Value $8.026M Shares 87,728 Share Price $91.49 Est. Cost/Share $25.79 Unrealized @ Report Date +254.8%

GPOR GULFPORT ENERGY CORP 3.5%

Value $7.96M Shares 38,273 Share Price $207.99 Est. Cost/Share $181.00 Unrealized @ Report Date +14.9%

DNN DENISON MINES CORP 3.4%

Value $7.775M Shares 2,922,967 Share Price $2.66 Est. Cost/Share $1.61 Unrealized @ Report Date +65.3%

UUUU ENERGY FUELS INC 2.7%

Value $6.093M Shares 419,028 Share Price $14.54 Est. Cost/Share $7.31 Unrealized @ Report Date +99.0%

KMT KENNAMETAL INC 2.7%

Value $6.088M Shares 214,288 Share Price $28.41 Est. Cost/Share $22.38 Unrealized @ Report Date +26.3%

SD SANDRIDGE ENERGY INC 2.6%

Value $5.925M Shares 410,574 Share Price $14.43 Est. Cost/Share $10.68 Unrealized @ Report Date +35.1%

EXK ENDEAVOUR SILVER CORP 2.6%

Value $5.922M Shares 630,009 Share Price $9.40 Est. Cost/Share $3.99 Unrealized @ Report Date +135.8%

SMP STANDARD MTR PRODS INC 2.5%

Value $5.599M Shares 151,941 Share Price $36.85 Est. Cost/Share $31.10 Unrealized @ Report Date +18.5%

COHU COHU INC 2.4%

Value $5.52M Shares 237,207 Share Price $23.27 Est. Cost/Share $18.40 Unrealized @ Report Date +26.5%

HOFT HOOKER FURNISHINGS CORPORATI 2.3%

Value $5.342M Shares 473,179 Share Price $11.29 Est. Cost/Share $17.55 Unrealized @ Report Date -35.7%

TBI TRUEBLUE INC 2.0%

Value $4.499M Shares 988,880 Share Price $4.55 Est. Cost/Share $11.13 Unrealized @ Report Date -59.1%

UFI UNIFI INC 1.4%

Value $3.164M Shares 904,013 Share Price $3.50 Est. Cost/Share $9.58 Unrealized @ Report Date -63.5%

EIG EMPLOYERS HLDGS INC 1.3%

Value $2.983M Shares 69,108 Share Price $43.17 Est. Cost/Share $40.61 Unrealized @ Report Date +6.3%

MPAA MOTORCAR PTS AMER INC 1.2%

Value $2.67M Shares 216,408 Share Price $12.34 Est. Cost/Share $12.68 Unrealized @ Report Date -2.7%

SCHL SCHOLASTIC CORP 0.8%

Value $1.823M Shares 61,522 Share Price $29.63 Est. Cost/Share $30.61 Unrealized @ Report Date -3.7%

VPG VISHAY PRECISION GROUP INC 0.7%

Value $1.696M Shares 44,054 Share Price $38.50 Est. Cost/Share $23.47 Unrealized @ Report Date +64.0%

MLR MILLER INDS INC TENN 0.7%

Value $1.497M Shares 40,047 Share Price $37.37 Est. Cost/Share $38.78 Unrealized @ Report Date -3.6%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
SPY	SPDR S&P 500 ETF TR	106,461	$72.6M	31.8%	$681.92	$587.78	+16.0%	TR UNIT	78462F103
URG	UR-ENERGY INC	13,950,155	$19.39M	8.5%	$1.39	$1.40	-0.7%	COM	91688R108
EU	ENCORE ENERGY CORP	4,132,851	$10.25M	4.5%	$2.48	$3.71	-33.2%	COM NEW	29259W700
NXE	NEXGEN ENERGY LTD	1,079,795	$9.934M	4.3%	$9.20	$5.28	+74.3%	COM	65340P106
MAN	MANPOWERGROUP INC WIS	289,883	$8.618M	3.8%	$29.73	$38.33	-22.4%	COM	56418H100
MTRX	MATRIX SVC CO	730,767	$8.55M	3.7%	$11.70	$10.24	+14.2%	COM	576853105
MTUS	METALLUS INC	484,811	$8.319M	3.6%	$17.16	$14.88	+15.3%	COM	887399103
IPI	INTREPID POTASH INC	294,870	$8.177M	3.6%	$27.73	$26.44	+4.9%	COM	46121Y201
CCJ	CAMECO CORP	87,728	$8.026M	3.5%	$91.49	$25.79	+254.8%	COM	13321L108
GPOR	GULFPORT ENERGY CORP	38,273	$7.96M	3.5%	$207.99	$181.00	+14.9%	COMMON SHARES	402635502
DNN	DENISON MINES CORP	2,922,967	$7.775M	3.4%	$2.66	$1.61	+65.3%	COM	248356107
UUUU	ENERGY FUELS INC	419,028	$6.093M	2.7%	$14.54	$7.31	+99.0%	COM NEW	292671708
KMT	KENNAMETAL INC	214,288	$6.088M	2.7%	$28.41	$22.38	+26.3%	COM	489170100
SD	SANDRIDGE ENERGY INC	410,574	$5.925M	2.6%	$14.43	$10.68	+35.1%	COM NEW	80007P869
EXK	ENDEAVOUR SILVER CORP	630,009	$5.922M	2.6%	$9.40	$3.99	+135.8%	COM	29258Y103
SMP	STANDARD MTR PRODS INC	151,941	$5.599M	2.5%	$36.85	$31.10	+18.5%	COM	853666105
COHU	COHU INC	237,207	$5.52M	2.4%	$23.27	$18.40	+26.5%	COM	192576106
HOFT	HOOKER FURNISHINGS CORPORATI	473,179	$5.342M	2.3%	$11.29	$17.55	-35.7%	COM	439038100
TBI	TRUEBLUE INC	988,880	$4.499M	2.0%	$4.55	$11.13	-59.1%	COM	89785X101
UFI	UNIFI INC	904,013	$3.164M	1.4%	$3.50	$9.58	-63.5%	COM NEW	904677200
EIG	EMPLOYERS HLDGS INC	69,108	$2.983M	1.3%	$43.17	$40.61	+6.3%	COM	292218104
MPAA	MOTORCAR PTS AMER INC	216,408	$2.67M	1.2%	$12.34	$12.68	-2.7%	COM	620071100
SCHL	SCHOLASTIC CORP	61,522	$1.823M	0.8%	$29.63	$30.61	-3.7%	COM	807066105
VPG	VISHAY PRECISION GROUP INC	44,054	$1.696M	0.7%	$38.50	$23.47	+64.0%	COM	92835K103
MLR	MILLER INDS INC TENN	40,047	$1.497M	0.7%	$37.37	$38.78	-3.6%	COM NEW	600551204