The foundation of Azarias Capital’s​ investment philosophy is based on the following core beliefs:

1. The U.S. SMICROCAP™ equity universe is inefficient

2. Recoveries offer exception return potential

3. Concentration maximizes stock selection skill

Given those tenets, Azarias is structured to achieve a singular objective: To generate top percentile returns over trailing 5 year and since-inception measurement periods. In alignment with this objective, Azarias has pledged to close the Focused Small Cap Value strategy at $500m AUM.