SourcingSourcing

AZARIAS CAPITAL MANAGEMENT, L.P.

C41
CRD 174466·SEC 801-123447·BERWYN, PA
AUM
$188.8M
$100M-$500M
Est. Revenue
$1.9M
@ 1% on AUM
Est. EBITDA
$566K
@ 30% margin
Est. Deal Value
$4.5M
@ 8× EBITDA

Identity

Registrations & legal identity

Legal name
AZARIAS CAPITAL MANAGEMENT, L.P.
CRD
174466
SEC file #
801-123447
EIN
471039525
DBA names
Acm, Llc ("relying Adviser")Azarias Capital Management, L.p.

Economics

AUM
$188.8M
AUM band
$100M-$500M
AUM trajectory
'23'26
$125.8M → $188.8M▲ +50%
Client mix
Pooled Investment Vehicles2

Operations

Employees (total)
6
Advisory staff (per ADV)
3
Advisory staff (5-yr trend)
'23'26
3 advisors → 3 advisors▬ 0%
Primary office
BERWYN PA
Branches
Count3

Custodian & Brokerage

Primary custodian
Pershinglow confidence
Services offered
Portfolio mgmt — pooled vehiclesPortfolio mgmt — businesses
Fee basis
% of AUMPerformance-based fees

Filings

Latest ADV filing
03/06/2026
ADV-W filed at
—
Website
linkedin.com/company/25685596(social)

Compliance

Disclosures (firm)
0
Trademark
—
Additional signalsExpand ▾

Ownership & succession ★

Who controls the firm + pre-computed succession flags

Top Owner Name
HEITMAN, DAREN, CLARK
Top Owner Pct
37.5
Top Owner Entity Kind
I
Owner Count
9
Control Persons
HEITMAN, DAREN, CLARK
GILLESPIE, CHRISTOPHER, JAMES
Solo Advisor Indicator
No
Succession Risk Solo Owner
No
Is Parent Owned Subsidiary
No

Availability / M&A ★

Already-acquired = skip; deal comps

Adv W Filed
No

Web presence ★

Stale website = winding down

Web Signal Quality
social_url_excluded:linkedin.com

Retirement-plan book (Form 5500) ★

401(k)/plan business — cross-sell value

Retirement Plan Book
No

SEC EDGAR

Edgar Cik
0001625279
Edgar Registered
Yes
Edgar Filing Count
36
Edgar First Filing Date
2014-11-17
Edgar Last Filing Date
2026-04-16
Edgar 13f Count
18
Edgar 13f Latest AUM Estimate
Filing Date2026-04-16
Accession0001625279-26-000003
Edgar Form D Count
1
Edgar Form D Offerings
2014-11-172014-11-17 · 0001625279-14-000001

Compliance & brand

Firm Registration Status
active

All other collected signals (12)

Everything else we've pulled for this record, not yet curated into a section.

Adv W Recently Filed
No
Bc Firm Active Bc Count
0
Bc Firm Active IA Count
3
Bc Firm IAR Count
3
Custodian Candidates
Full
Pershing12
E*trade4
Bny Mellon2
Wells Fargo2
Edgar Addresses
Mailing
1055 WESTLAKES DRIVE, SUITE 300BERWYN, PA 19312
Business
1055 WESTLAKES DRIVE, SUITE 300BERWYN, PA 19312
Edgar EIN
471039525
Edgar Recent Filings
13F-HR2026-04-16 · 0001625279-26-000003
13F-HR2026-01-23 · 0001625279-26-000002
Firm Has Custody
Yes
Mailing Office Differs
No
Top Owner CRD
2100792
Trust Company Affiliate
No

People (8)

8
GILLESPIE, CHRISTOPHER, JAMES
IAR · Direct Owner · 37.5%
2052912
HEITMAN, DAREN, CLARK
IAR · Direct Owner · 37.5%
2100792
PETRUZZI, DANIEL, MARK
IAR · Direct Owner · 17.5%
5037019
CHRISTOPHER SCOTT CATON
Direct Owner · 17.5%
2273100
DALKIN, JOCELYN, M
Direct Owner · 7.5%
6916088
KNEELEY, STEPHEN, JOSEPH
Direct Owner · 7.5%
1433085
LACROIX, CHRISTOPHER, JOSEPH
Direct Owner · 7.5%
1058364
KELLY, COLLEEN, ANNE
Executive Officer · 2.5%
2477857