Azarias Capital Management, L.P.
Hedge Fund • Value
Azarias Capital Management, L.P. is a Value-focused Hedge Fund based in Berwyn, PA led by Daren Clark Heitman, managing $252.5M across 24 long positions as of Q3 2025 with 34% Energy concentration, 67% concentrated in top 10 holdings, and 28% allocation to SPY.
CIODaren Clark Heitman
- Portfolio Value
- $252.5M
- Positions
- 24
- Top Holding
- SPY at 28.09%
- Last Reported
- Q3 2025
Top Holdings
Largest long holdings in Azarias Capital Management, L.P.'s portfolio (67.4% of total portfolio)
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| Holding | Sector | Position | Weight | Traded | Ownership |
|---|---|---|---|---|---|
ETF ETF | $70.9M | 28.09% | — | — 106.5K shares | |
Uranium Energy | $24.2M | 9.57% | -$7.6M Sold | 3.70% 13.5M shares | |
Uranium Energy | $12.9M | 5.13% | +$1.1M Bought | 2.16% 4.0M shares | |
Uranium Energy | $10.0M | 3.96% | -$2.7M Sold | 0.20% 1.1M shares | |
Steel Basic Materials | $9.4M | 3.72% | -$422.3K Sold | 1.36% 567.5K shares | |
Other Precious Metals Basic Materials | $9.1M | 3.62% | +$216.4K Bought | 0.40% 1.2M shares | |
Uranium Energy | $9.1M | 3.62% | -$4.0M Sold | 0.26% 596.0K shares | |
Engineering & Construction Industrials | $8.3M | 3.29% | +$92.6K Bought | 2.26% 634.8K shares | |
Oil & Gas Exploration & Production Energy | $8.1M | 3.19% | +$3.5M Bought | 0.25% 44.5K shares | |
Uranium Energy | $8.0M | 3.18% | -$390.2K Sold | 0.33% 2.9M shares |
Changes
Portfolio activity, position movements, and quarter-over-quarter changes in Azarias Capital Management, L.P.'s latest filing
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Market Value
Q/Q Change
Net Flows % of MV
Turnover Ratio
New Purchases
Added To
Sold Out Of
Reduced Holdings
Increased Positions
| Position | Shares Δ |
|---|---|
New | |
+78.66% | |
+64.92% | |
+39.19% | |
+33.59% |
Decreased Positions
| Position | Shares Δ |
|---|---|
Sold | |
-53.78% | |
-50.81% | |
-33.74% | |
-30.55% |
Analytics
Portfolio insights and performance metrics for Azarias Capital Management, L.P.
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