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Azarias Capital Management, L.P.

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13F filer, CIK 1625279, West Chester, PA

Azarias Capital Management, L.P. reported $180,475,304 across 23 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-04-22. Its ten largest share positions make up 70.88% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001085146-25-002210

Period
2025-03-31
Reported value
$180M
Holdings
23
Top 10 weight
70.88%
New
3
Sold out
2

Largest buys vs the previous quarter

SecurityShares changeApprox. value
SPYnew+106,461$59.6M
COHUnew+69,379$1.02M
KMTadded+40,687$867K
SDnew+71,476$816K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
IPIreduced-418,084-$12.3M
MTRXreduced-646,950-$8.04M
FSTRexited-240,991-$6.48M
HCSGreduced-581,028-$5.86M
MAG SILVER CORPreduced-335,761-$5.13M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2025

Share positions as resolved from 13F-HR 0001085146-25-002210, largest first. % of portfolio is the value over $180,475,304, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
SPYSTATE STR SPDR S&P 500 ETF TQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: not reported; 2025Q1: 106,461 shares 106,461$59.6M33%newTimeline
URGUR-ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 20,949,653 shares; 2025Q1: 17,945,808 shares 17,945,808$12.1M6.7%-3,003,845Timeline
NXENEXGEN ENERGY LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 2,038,627 shares; 2025Q1: 1,788,651 shares 1,788,651$8.03M4.45%-249,976Timeline
MTRXMATRIX SVC COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 1,218,105 shares; 2025Q1: 571,155 shares 571,155$7.1M3.93%-646,950Timeline
IPIINTREPID POTASH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 657,464 shares; 2025Q1: 239,380 shares 239,380$7.04M3.9%-418,084Timeline
EUENCORE ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 5,346,013 shares; 2025Q1: 5,103,345 shares 5,103,345$6.99M3.87%-242,668Timeline
SCHLSCHOLASTIC CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 467,783 shares; 2025Q1: 370,005 shares 370,005$6.99M3.87%-97,778Timeline
MTUSMETALLUS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 663,998 shares; 2025Q1: 519,773 shares 519,773$6.94M3.85%-144,225Timeline
SMPSTANDARD MTR PRODS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 362,642 shares; 2025Q1: 266,053 shares 266,053$6.63M3.68%-96,589Timeline
HCSGHEALTHCARE SVCS GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 1,230,584 shares; 2025Q1: 649,556 shares 649,556$6.55M3.63%-581,028Timeline
MPAAMOTORCAR PTS AMER INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 1,083,105 shares; 2025Q1: 634,649 shares 634,649$6.03M3.34%-448,456Timeline
TBITRUEBLUE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 1,590,516 shares; 2025Q1: 1,074,069 shares 1,074,069$5.7M3.16%-516,447Timeline
KMTKENNAMETAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 195,281 shares; 2025Q1: 235,968 shares 235,968$5.03M2.78%+40,687Timeline
VPGVISHAY PRECISION GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 219,074 shares; 2025Q1: 203,290 shares 203,290$4.9M2.71%-15,784Timeline
HOFTHOOKER FURNISHINGS CORPORATIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 754,328 shares; 2025Q1: 485,707 shares 485,707$4.88M2.7%-268,621Timeline
CCJCAMECO CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 118,666 shares; 2025Q1: 111,666 shares 111,666$4.6M2.55%-7,000Timeline
UFIUNIFI INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 1,430,375 shares; 2025Q1: 943,364 shares 943,364$4.54M2.51%-487,011Timeline
MAG SILVER CORPMAG SILVER CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 629,005 shares; 2025Q1: 293,244 shares 293,244$4.48M2.48%-335,761
DNNDENISON MINES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 3,326,586 shares; 2025Q1: 3,064,876 shares 3,064,876$3.98M2.21%-261,710Timeline
UUUUENERGY FUELS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 911,721 shares; 2025Q1: 911,721 shares 911,721$3.4M1.88%0Timeline
RELLRICHARDSON ELECTRS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 446,496 shares; 2025Q1: 285,710 shares 285,710$3.19M1.77%-160,786Timeline
COHUCOHU INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: not reported; 2025Q1: 69,379 shares 69,379$1.02M0.57%newTimeline
SDSANDRIDGE ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: not reported; 2025Q1: 71,476 shares 71,476$816K0.45%newTimeline

Sold out in Q1 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
FSTRFOSTER L B CO240,991$6.48Mshares
STCSTEWART INFORMATION SVCS COR67,073$4.53Mshares

How Q1 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001085146-25-002210 base2025-04-22acceptance time not in the bulk data set