Azora Capital LP

Hedge Fund • Long/Short

Azora Capital LP is a Long/Short Hedge Fund based in Miami, FL led by Ravi (Nmn) Chopra, reporting $2.7B in AUM as of Q3 2025 with 82% Financial Services concentration.

CIORavi (Nmn) Chopra

Portfolio Value: $2.2B
Positions: 63
Top Holding: BAC at 6.69%
Last Reported: Q3 2025

Address3480 Main Highway, Suite 200, Miami, FL, 33133, United States

Top Holdings

Largest long holdings in Azora Capital LP's portfolio (44% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Bank of America BAC	Banks - Diversified Financial Services	$144.4M	6.69%	-$8.6M Sold	0.04% 2.8M shares	Q4 2024 Held for 11 months
2 LPL Financial Holdings LPLA	Financial - Capital Markets Financial Services	$117.6M	5.45%	-$39.6M Sold	0.44% 353.4K shares	Q4 2017 Held for 7y 11m
3 Truist Financial TFC	Banks - Regional Financial Services	$115.4M	5.35%	+$115.4M Bought	0.20% 2.5M shares	Q3 2025 Held for 2 months
4 Valley National Bank VLY	Banks - Regional Financial Services	$103.1M	4.78%	+$103.1M New	1.74% 9.7M shares	Q3 2025 Held for 2 months
5 Texas Capital Bancshares TCBI	Banks - Regional Financial Services	$87.6M	4.06%	+$9.0M Bought	2.27% 1.0M shares	Q4 2024 Held for 11 months
6 Webster Financial Corporation WBS	Banks - Regional Financial Services	$84.1M	3.90%	-$28.0M Sold	0.85% 1.4M shares	Q1 2022 Held for 3y 8m
7 WisdomTree WT	Asset Management Financial Services	$78.2M	3.62%	-$20.0M Sold	3.83% 5.6M shares	Q4 2020 Held for 4y 11m
8 International Bancshares IBOC	Banks - Regional Financial Services	$77.6M	3.59%	+$2.6M Bought	1.82% 1.1M shares	Q4 2017 Held for 7y 11m
9 Franklin Resources BEN	Asset Management Financial Services	$75.0M	3.47%	+$1.2M Bought	0.62% 3.2M shares	Q2 2025 Held for 5 months
10 The Carlyle Group CG	Asset Management Financial Services	$67.5M	3.13%	+$29.9M Bought	0.30% 1.1M shares	Q4 2024 Held for 11 months

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Azora Capital LP's latest filing

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Market Value

$2.2B

Prior: $2.2B

Q/Q Change

-2.42%

-$53.6M

Net Flows % of MV

-24.64%

Turnover Ratio

41.67%

New Purchases

15 stocks

$275.8M

Added To

18 stocks

+$243.3M

Sold Out Of

18 stocks

$455.3M

Reduced Holdings

17 stocks

-$595.7M

Increased Positions

Position	Shares Δ	Change
1 Valley National Bank VLY	New	0 → 9.7M +$103.1M
2 KLAR Klarna Group plc KLAR	New	0 → 1.1M +$40.3M
3 Bitdeer Technologies Group BTDR	New	0 → 1.4M +$23.8M
4 CleanSpark CLSK	New	0 → 1.1M +$15.3M
5 United Community Banks UCB	New	0 → 428.2K +$13.4M

Decreased Positions

Position	Shares Δ	Change
1 Coinbase Global, Inc. COIN	Sold	242.4K → 0 −$85.0M
2 SEI Investments SEIC	Sold	778.0K → 0 −$69.9M
3 Pinnacle Financial Partners PNFP	Sold	497.2K → 0 −$54.9M
4 Charles Schwab Corporation SCHW	Sold	507.2K → 0 −$46.3M
5 Ally Financial ALLY	Sold	1.0M → 0 −$40.6M