Azarias Capital Management, L.P.
Net seller this quarter
$230M
23
-$8.54M
72.4%
Holdings
| Company | Value | % of portfolio | % of company | POSITION CHANGE qoq % | First reported |
|---|---|---|---|---|---|
| Q2 2026 | |||||
 SPY | $79.5M | 34.59% | Not reported | Not reported | Q1 2025 |
 URG | $18M | 7.81% | 3.49% | -3.0% | Q4 2021 |
 DNN | $13M | 5.64% | 0.47% | +45.0% | Q4 2021 |
 MTRX | $9.23M | 4.02% | 2.44% | -17.5% | Q4 2021 |
 MAN | $8.99M | 3.91% | 0.57% | -21.2% | Q3 2025 |
 SDRL | $7.99M | 3.48% | 0.34% | +54.6% | Q1 2026 |
 GPOR | $7.88M | 3.43% | 0.26% | +10.3% | Q2 2025 |
 MTUS | $7.84M | 3.41% | 1.01% | -22.8% | Q4 2024 |
 MPAA | $7.02M | 3.06% | 2.42% | -14.0% | Q4 2021 |
 MOH | $7M | 3.04% | 0.06% | New | Q2 2026 |
 EIG | $6.67M | 2.90% | 0.74% | -5.7% | Q4 2025 |
 NXE | $6.41M | 2.79% | 0.10% | Not reported | Q4 2021 |
 HOFT | $6M | 2.61% | 3.13% | -15.3% | Q4 2021 |
 IPI | $5.84M | 2.54% | 1.35% | +2.7% | Q2 2023 |
 MLR | $5.62M | 2.45% | 0.97% | -0.5% | Q4 2025 |
 UUUU | $5.52M | 2.40% | 0.15% | Not reported | Q4 2021 |
 EU | $5.36M | 2.33% | 2.11% | -19.3% | Q1 2023 |
 TBI | $5.29M | 2.30% | 2.49% | -24.2% | Q4 2023 |
 CCJ | $5.13M | 2.23% | 0.01% | Not reported | Q4 2021 |
 SMP | $4.72M | 2.05% | 0.54% | -4.8% | Q2 2024 |
 SD | $4.41M | 1.92% | 0.87% | +2.9% | Q1 2025 |
 UFI | $2.17M | 0.94% | 2.46% | -47.8% | Q4 2021 |
 AGX | $302K | 0.13% | 0.00% | Not reported | Q4 2021 |
| Q1 2026 | |||||
| SPY | $69.2M | 31.03% | Not reported | Not reported | Q1 2025 |
| URG | $20.3M | 9.08% | 3.60% | -2.5% | Q4 2021 |
| DNN | $10.3M | 4.62% | 0.32% | Not reported | Q4 2021 |
| MAN | $9.95M | 4.46% | 0.73% | +16.5% | Q3 2025 |
| MTRX | $9.38M | 4.20% | 2.90% | +11.8% | Q4 2021 |
| EU | $9.12M | 4.09% | 2.61% | +22.6% | Q1 2023 |
| GPOR | $8.91M | 3.99% | 0.23% | +10.1% | Q2 2025 |
| MTUS | $8.88M | 3.98% | 1.30% | +12.1% | Q4 2024 |
| NXE | $7.92M | 3.55% | 0.10% | -36.8% | Q4 2021 |
| IPI | $7.43M | 3.33% | 1.32% | -41.1% | Q2 2023 |
| UUUU | $6.94M | 3.11% | 0.16% | -9.2% | Q4 2021 |
| SDRL | $6.22M | 2.79% | 0.22% | New | Q1 2026 |
| MPAA | $5.89M | 2.64% | 2.82% | +146.2% | Q4 2021 |
| EIG | $5.77M | 2.58% | 0.75% | +102.8% | Q4 2025 |
| CCJ | $5.47M | 2.45% | 0.01% | -42.6% | Q4 2021 |
| HOFT | $5.12M | 2.29% | 3.69% | -16.1% | Q4 2021 |
| SD | $5.1M | 2.28% | 0.85% | -23.9% | Q1 2025 |
| MLR | $5.03M | 2.25% | 0.97% | +175.7% | Q4 2025 |
| SMP | $4.42M | 1.98% | 0.57% | -16.3% | Q2 2024 |
| TBI | $3.92M | 1.76% | 3.30% | +1.3% | Q4 2023 |
| UFI | $3.12M | 1.40% | 4.71% | -3.2% | Q4 2021 |
 AVT | $2.71M | 1.21% | 0.05% | New | Q1 2026 |
 COHU | $1.82M | 0.82% | 0.12% | -74.9% | Q1 2025 |
| AGX | $206K | 0.09% | 0.00% | Not reported | Q4 2021 |
| Q4 2025 | |||||
| SPY | $72.6M | 31.78% | Not reported | Not reported | Q1 2025 |
| URG | $19.4M | 8.49% | 3.69% | +3.3% | Q4 2021 |
| EU | $10.2M | 4.49% | 2.21% | +2.5% | Q1 2023 |
| NXE | $9.93M | 4.35% | 0.16% | -3.3% | Q4 2021 |
| MAN | $8.62M | 3.77% | 0.63% | +40.9% | Q3 2025 |
| MTRX | $8.55M | 3.74% | 2.60% | +15.1% | Q4 2021 |
| MTUS | $8.32M | 3.64% | 1.16% | -14.6% | Q4 2024 |
| IPI | $8.18M | 3.58% | 2.25% | +13.5% | Q2 2023 |
| CCJ | $8.03M | 3.51% | 0.02% | Not reported | Q4 2021 |
| GPOR | $7.96M | 3.48% | 0.20% | -14.1% | Q2 2025 |
| DNN | $7.78M | 3.40% | 0.32% | Not reported | Q4 2021 |
| UUUU | $6.09M | 2.67% | 0.17% | -29.7% | Q4 2021 |
 KMT | $6.09M | 2.67% | 0.28% | -41.2% | Q1 2024 |
| SD | $5.92M | 2.59% | 1.11% | -14.8% | Q1 2025 |
 EXK | $5.92M | 2.59% | 0.24% | -46.0% | Q2 2025 |
| SMP | $5.6M | 2.45% | 0.69% | -15.1% | Q2 2024 |
| COHU | $5.52M | 2.42% | 0.48% | -17.0% | Q1 2025 |
| HOFT | $5.34M | 2.34% | 4.39% | Not reported | Q4 2021 |
| TBI | $4.5M | 1.97% | 3.30% | +0.5% | Q4 2023 |
| UFI | $3.16M | 1.39% | 4.87% | +11.3% | Q4 2021 |
| EIG | $2.98M | 1.31% | 0.34% | New | Q4 2025 |
| MPAA | $2.67M | 1.17% | 1.13% | -28.6% | Q4 2021 |
 SCHL | $1.82M | 0.80% | 0.25% | -63.2% | Q4 2021 |
 VPG | $1.7M | 0.74% | 0.36% | -69.0% | Q4 2024 |
| MLR | $1.5M | 0.66% | 0.35% | New | Q4 2025 |
| Q3 2025 | |||||
| SPY | $70.9M | 28.09% | Not reported | Not reported | Q1 2025 |
| URG | $24.2M | 9.57% | 3.70% | -24.0% | Q4 2021 |
| EU | $12.9M | 5.13% | 2.16% | +9.6% | Q1 2023 |
| NXE | $10M | 3.96% | 0.20% | -21.0% | Q4 2021 |
| MTUS | $9.38M | 3.72% | 1.36% | -4.3% | Q4 2024 |
| EXK | $9.15M | 3.62% | 0.44% | +2.4% | Q2 2025 |
| UUUU | $9.15M | 3.62% | 0.25% | -30.5% | Q4 2021 |
| MTRX | $8.3M | 3.29% | 2.26% | +1.1% | Q4 2021 |
| GPOR | $8.06M | 3.19% | 0.23% | +78.7% | Q2 2025 |
| DNN | $8.04M | 3.18% | 0.33% | -4.6% | Q4 2021 |
| IPI | $7.94M | 3.15% | 1.98% | +64.9% | Q2 2023 |
| MAN | $7.8M | 3.09% | 0.44% | New | Q3 2025 |
| KMT | $7.63M | 3.02% | 0.48% | +31.8% | Q1 2024 |
| CCJ | $7.36M | 2.91% | 0.02% | -9.2% | Q4 2021 |
| SMP | $7.31M | 2.89% | 0.81% | -30.6% | Q2 2024 |
| TBI | $6.03M | 2.39% | 3.29% | +9.4% | Q4 2023 |
| COHU | $5.81M | 2.30% | 0.57% | +21.1% | Q1 2025 |
| SD | $5.43M | 2.15% | 1.31% | +39.2% | Q1 2025 |
| MPAA | $5.01M | 1.98% | 1.55% | -50.8% | Q4 2021 |
| HOFT | $4.8M | 1.90% | 4.40% | +33.6% | Q4 2021 |
| SCHL | $4.57M | 1.81% | 0.69% | -53.8% | Q4 2021 |
| VPG | $4.56M | 1.80% | 1.16% | -33.7% | Q4 2024 |
 HCSG | $4.26M | 1.69% | 0.36% | -19.5% | Q4 2021 |
| UFI | $3.87M | 1.53% | 4.43% | +20.9% | Q4 2021 |