Form D · Hedge Fund

Azarias Focused Small Cap Value Fund, L.P.

West Chester, PA · CIK 0001650075

Offering snapshot reported Aug 12, 2026 · SEC filing

Reported sold: $17.4M
Investors reported: 35
Minimum accepted: $500K
First sale: Aug 3, 2015

Fundraising history

Reported sold

Dates are filing dates, not cash receipt dates. Decreases are reported revisions, not evidence of withdrawals. Separate offering histories are not added together.

What changed?

Latest filing versus its linked predecessor, where available.

No comparable changes in the displayed metrics.

Filing history

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Filed	Filing type	Reported sold	Change vs linked filing	Investors	Source
Aug 12, 2026	Amendment	$17,436,129	$0vs Aug 7, 2025	35	SEC filing
Aug 7, 2025	Amendment	$17,436,129	No comparison	Not reported	SEC filing
Aug 12, 2024	Amendment	$17,436,129	$450,000vs Aug 16, 2023	35	SEC filing
Aug 16, 2023	Amendment	$16,986,129	$385,029vs Aug 5, 2022	35	SEC filing
Aug 5, 2022	Amendment	$16,601,100	$200,000vs Aug 4, 2021	36	SEC filing
Aug 4, 2021	Amendment	$16,401,100	No comparison	Not reported	SEC filing
Aug 7, 2020	Amendment	$16,163,613	$1,387,613vs Aug 9, 2019	35	SEC filing
Aug 9, 2019	Amendment	$14,776,000	$4,680,000vs Aug 10, 2018	30	SEC filing
Aug 10, 2018	Amendment	$10,096,000	$3,475,000vs Aug 11, 2017	25	SEC filing
Aug 11, 2017	Amendment	$6,621,000	$1,710,000vs Aug 11, 2016	18	SEC filing
Aug 11, 2016	Amendment	$4,911,000	$4,811,000vs Aug 11, 2015	14	SEC filing
Aug 11, 2015	Initial	$100,000	No comparison	1	SEC filing

Offering details

Securities: Pooled investment fund
Exemptions: 06b, 3C, 3C.1
Duration over one year: Yes
Business combination: No

Sales commissions: $346K (estimated)
Finders' fees: $0
Form D file number: 021-245534

Amount of commissions reported is the amount paid through June 30, 2026.

Sales compensation recipients

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Recipient	CRD	Associated broker-dealer
J. Alden Associates, Inc.	40002

Source: Form D, filed Aug 12, 2026. Minimum accepted may differ from a standard advertised minimum.

Fund connections

The linked fund shows its most recently reported ADV details.

Matched by reported Form D file number

AZARIAS FOCUSED SMALL CAP VALUE FUND, L.P.

Investment adviser: AZARIAS CAPITAL MANAGEMENT, L.P.

Gross asset value: $14.6M
Beneficial owners: 15
ADV minimum commitment: $500K

Reported in Form ADV on Jun 9, 2026. Fund assets and beneficial owners measure different things from Form D sales and investors.

Service providers

Fund administrator STP INVESTMENT SERVICES WEST CHESTER, Pennsylvania, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor KREISCHER MILLER HORSHAM, Pennsylvania, United States

Custodian CITIZENS BANK. N.A MEDIA, Pennsylvania, United States Related to adviser: No

Custodian PERSHING LLC JERSEY CITY, New Jersey, United States Related to adviser: No

Marketer J. ALDEN ASSOCIATES, INC. JENKINTOWN, Pennsylvania, United States Related to adviser: No

Prime broker BTIG, LLC SAN FRANCISCO, California, United States

Provider details

Annual audit: Yes
Prime brokers: Yes
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: Yes

KREISCHER MILLER
PCAOB 1110

PERSHING LLC
SEC 8-17574

J. ALDEN ASSOCIATES, INC.
CRD 40002 · SEC 8-48938

BTIG, LLC
CRD 122225 · SEC 8-65473

Filing source

Form ADV 2110598 · Jun 9, 2026 · Schedule D 7.B.(1), fund 805-6447583974

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

People & organizations

Current and past Form D appearances. These existing records do not establish a person's current role or uniquely identify them across issuers.

People and organizations reported in Form D filings
Name	Reported role
N/A Acm, Llc	Director
Daren Heitman	Director, Executive

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:

105 S. High Street Suite 150
West Chester, PA, 19382