Azarias Capital Management, L.P.
Sector Allocation
- Other48.2%$81.2M
- Materials27.8%$46.8M
- Industrials10.5%$17.6M
- Energy6.2%$10.5M
- Consumer Discretionary4.2%$7.1M
- Healthcare1.8%$3.0M
- Financials1.3%$2.3M
AUM History
13fpro.ai/research/fund/azarias-capital-management-l-p-1625279
Conviction and streaks
Concentrating · top 10 = 80.2%From the fund's last 12 quarters of 13F filings: positions held longest at size, and names it added to or trimmed several quarters running.
Largest positions — Q3 2026
SPY
$81.2MURG
$12.0MDNN
$10.8MNXE
$6.2MCCJ
$4.9MSDRL
$4.7MUUUU
$4.2MMTRX
$4.1MGPOR
$3.6MTBI
$3.5MMPAA
$3.3MMTUS
$3.3MMAN
$3.2MIPI
$3.1MMOH
$3.0MLKQ
$2.8MEU
$2.3MEIG
$2.3MSMP
$2.2MSD
$2.2M
Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.
13fpro.ai/research/fund/azarias-capital-management-l-p-1625279
Azarias Capital Management, L.P. 13F holdings — Q3 2026
$168.4M portfolio (-26.7% QoQ) · 23 holdings · Q3 2026 13F · top 10 are 80% of the stock portfolio
$81.2M
48.2% of stocks
No changeThis quarter-0.6%Since filed7 qtrsHeld$12.0M
7.1% of stocks
-16%This quarter-1.3%Since filed11+ qtrsHeldAIQuality28.4#2,526Est. buyEstimated buy price is Pro: unlock with a free trialTrimmed 3 qtrs in a row$10.8M
6.4% of stocks
-2%This quarter+1.9%Since filed11+ qtrsHeld$6.2M
3.7% of stocks
-0.4%This quarter+3.1%Since filed11+ qtrsHeld$4.9M
2.9% of stocks
+11%This quarter-3.0%Since filed11+ qtrsHeld$4.7M
2.8% of stocks
-50%This quarter+10.6%Since filed3 qtrsHeld$4.2M
2.5% of stocks
No changeThis quarter-9.3%Since filed11+ qtrsHeld$4.1M
2.4% of stocks
-37%This quarter-3.2%Since filed11+ qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialTrimmed 2 qtrs in a row$3.6M
2.2% of stocks
-48%This quarter+0.2%Since filed6 qtrsHeld$3.5M
2.1% of stocks
-49%This quarter+10.8%Since filed11+ qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialTrimmed 2 qtrs in a row
All holdings — Azarias Capital Management, L.P. (Q3 2026)
23 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated.
| # | Company | Held | Source | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 11 | MOTORCAR PARTS OF AMERICA INC | Industrials | $3.3M | 2.0% | 317K | -31% | 11+ qtrsTrimmed 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 12 | Metallus Inc. | Materials | $3.3M | 2.0% | 174K | -58% | 8 qtrsTrimmed 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 13 | ManpowerGroup Inc. | Industrials | $3.2M | 1.9% | 58K | -78% | 5 qtrsTrimmed 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 14 | Intrepid Potash, Inc. | Materials | $3.1M | 1.9% | 98K | -45% | 11+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 15 | MOLINA HEALTHCARE, INC. | Healthcare | $3.0M | 1.8% | 16K | -49% | 2 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 16 | LKQ CORP | Consumer Discretionary | $2.8M | 1.7% | 124K | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 17 | enCore Energy Corp. | Materials | $2.3M | 1.4% | 2.15M | -47% | 11+ qtrsTrimmed 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 18 | Employers Holdings, Inc. | Financials | $2.3M | 1.3% | 47K | -64% | 4 qtrsTrimmed 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 19 | STANDARD MOTOR PRODUCTS, INC. | Industrials | $2.2M | 1.3% | 60K | -50% | 10 qtrsTrimmed 9 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 20 | SANDRIDGE ENERGY INC | Energy | $2.2M | 1.3% | 159K | -50% | 7 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 21 | HOOKER FURNISHINGS Corp | Consumer Discretionary | $2.1M | 1.3% | 165K | -51% | 11+ qtrsTrimmed 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 22 | UNIFI INC | Consumer Discretionary | $2.1M | 1.3% | 327K | -28% | 11+ qtrsTrimmed 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 23 | MILLER INDUSTRIES INC /TN/ | Industrials | $1.3M | 0.8% | 24K | -78% | 4 qtrs | AI quality score is Pro: unlock with a free trial | 13F |
What changed in Q3 2026
Against the previous quarter's 13F: 1 new, 1 added to, 19 trimmed, 1 sold out. Share-count changes; largest moves by dollar size first.
New positions (1)
first bought this quarter
Added to (1)
now $4.9M · held 11+ qtrs
Trimmed (19)
now $3.2M · held 5 qtrs, 2 trims in a row
now $4.7M · held 3 qtrs
now $3.3M · held 8 qtrs, 2 trims in a row
$MLRMILLER INDUSTRIES INC /TN/-78%
now $1.3M · held 4 qtrs
now $2.3M · held 4 qtrs, 2 trims in a row
now $3.5M · held 11+ qtrs, 2 trims in a row
+13 more in the Excel export
Sold out (1)
$AGXARGAN INCwas $302K
held 2 qtrs
Holdings by quarter
Every 13F Azarias Capital Management, L.P. has filed, 19 earlier quarters. Pick one to see what it held then.
Is it too late to follow Azarias Capital Management, L.P.?
Q3 2026 13F filed with the SEC on Oct 14, 2026. Prices are closing prices as of Oct 26, 2026.
Average quality of Azarias Capital Management, L.P.'s top 20 holdings: 41/100 (our AI quality score, weighted by position size; 15 of the 20 are scored)
Top 10 since filing
+0.0%
Value-weighted move of the 10 largest stock positions
Turnover
2%
Last quarter; 23% over the last 4
Top 10 weight
80%
Share of the stock portfolio in its 10 largest positions
Held 4+ quarters
94%
Share of portfolio value in positions held a year or more
Highest-quality names it owns(among its 100 largest positions)
The 8 highest-scoring companies in this portfolio are a Pro feature.
How these are measured
- Moves since the quarter-end and since the filing date use our own daily closing prices, from the close on (or just before) each date to the latest close.
- Turnover is the lesser of shares bought or sold in a quarter, valued at the quarter-end prices in the 13F, divided by the average of the two quarters' stock portfolio values.
- Quarters held and add/trim streaks count back only through quarters whose filed holdings add up to the filing's own cover-page total (back to Q1 2024 for this fund). A change counts as an add or a trim when the split-adjusted share count moves by more than 1%.
- Estimate, not the fund's reported cost. For each quarter in the current holding period in which the fund's share count rose (split-adjusted), we take that quarter's average daily close and weight it by the shares added; sales do not change an average cost. Quarters where the stock's price history and the 13F's own implied price disagree by more than 2x are left out.
- Put and call option rows report the value of the underlying shares, not a position the fund paid for, so they are left out of all of the above.
Portfolio Overview
Azarias Capital Management, L.P. disclosed 23 positions worth $168.4M in its Form 13F-HR for Q3 2026, led by $SPY (SPDR S&P 500 ETF TRUST) at 48.2% of the equity portfolio, followed by $URG and $DNN. During the quarter the fund opened 1 new position and exited 1 — including a new stake in $LKQ and a full exit from $AGX. The portfolio is most concentrated in Other (48.2% of disclosed assets). All figures are sourced directly from Azarias Capital Management, L.P.’s Form 13F-HR filing with the SEC under CIK 1625279.
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AI-Powered Hedge Fund Analysis: Azarias Capital Management, L.P.
13F Pro is an AI hedge fund tracker and stock research platform. For Azarias Capital Management, L.P. (SEC CIK: 1625279), the platform ingests every quarterly Form 13F filing and applies AI-powered analysis on top — 10 specialized AI analysts (value, growth, momentum, macro, activist, and more) debate the fund's top positions and publish AI-generated analysis with cited SEC sources.
Every holding in Azarias Capital Management, L.P.'s portfolio is scored on an AI quality ranking built from its SEC filings (ROIC, FCF margin, revenue growth, institutional flow, earnings quality, shareholder dilution, and more). Track accumulation and distribution quarter over quarter, identify conviction positions, and see AI stock analysis for each position — alongside 8,700+ other institutional filers and 2,800+ AI-ranked companies.