Azora Capital LP
Long book
$1.52B
Q1 2026
Positions
45
Top-10 weight
59%
concentration
Last quarter
+23.5%
SPY +14.8%
Turnover
63%
of book per quarter
Strategy in plain words
auto-generated from filingsAzora Capital LP is a concentrated fundamental stock-picker, specialised in financials (94% of the long book), running a $1.52B US long book across 45 positions.
The portfolio is concentrated: the top 10 names carry 59% of the portfolio. Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: LPL FINANCIAL HOLDINGS INC, FRANKLIN RESOURCES INC, VALLEY NATIONAL BANCORP, BEACON FINANCIAL CORP, INTERNATIONAL BANCSHARES CRP.
Over the last 9 quarters its long book ran on average 2pp per quarter ahead of the S&P 500, beating the index in 4 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-1.9%
Q2 2024
+6.2%
Q3 2024
+17.6%
Q4 2024
-6.8%
Q1 2025
+16.6%
Q2 2025
+7.6%
Q3 2025
+1.6%
Q4 2025
-5.8%
Q1 2026
+23.5%
Sector allocation
Financials 93%
Technology 3%
Services media 2%
Other 1%
Consumer discretionary 1%
Long book by quarter
What does Azora Capital own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| LPLA LPL FINANCIAL HOLDINGS INC | Financials | 427.3K | $128.6M | 8.5% | -4.7% |
| BEN FRANKLIN RESOURCES INC | Financials | 5.1M | $120.5M | 7.9% | -12.0% |
| VLY VALLEY NATIONAL BANCORP | Financials | 8.9M | $109.9M | 7.2% | +14.8% |
| BBT BEACON FINANCIAL CORP | Financials | 3.1M | $94.1M | 6.2% | +0.2% |
| IBOC INTERNATIONAL BANCSHARES CRP | Financials | 1.3M | $88.3M | 5.8% | -13.9% |
| WT WISDOMTREE INC | Financials | 6.0M | $87.2M | 5.7% | -2.6% |
| VIRT VIRTU FINANCIAL INC-CLASS A | Financials | 1.9M | $82.7M | 5.4% | New |
| SLM SLM CORP | Financials | 3.2M | $68.6M | 4.5% | +381.6% |
| PB PROSPERITY BANCSHARES INC | Financials | 936.0K | $62.9M | 4.1% | New |
| SCHW SCHWAB (CHARLES) CORP | Financials | 589.5K | $55.4M | 3.6% | +120.6% |
| CCB COASTAL FINANCIAL CORP/WA | Financials | 658.6K | $50.1M | 3.3% | +6.5% |
| RIOT RIOT PLATFORMS INC | Financials | 3.7M | $46.1M | 3.0% | +1328.9% |
| XYZ BLOCK INC | Technology | 695.2K | $41.8M | 2.8% | New |
| TCBI TEXAS CAPITAL BANCSHARES INC | Financials | 400.0K | $38.0M | 2.5% | -40.8% |
| HUT HUT 8 CORP | Financials | 764.6K | $35.9M | 2.4% | +10.7% |
| EWBC EAST WEST BANCORP INC | Financials | 311.9K | $33.3M | 2.2% | +80.7% |
| BTDR BITDEER TECHNOLOGIES GROUP-A | Financials | 3.3M | $29.0M | 1.9% | +328.1% |
| PRG PROG HOLDINGS INC | Services media | 966.6K | $27.7M | 1.8% | New |
| HOMB HOME BANCSHARES INC | Financials | 1.0M | $27.7M | 1.8% | New |
| ARX ACCELERANT HOLDINGS-CL A | Financials | 2.0M | $26.5M | 1.7% | -18.8% |
| NP NEPTUNE INSURANCE HOLDI-CL A | Financials | 954.0K | $23.1M | 1.5% | +28.2% |
| KLAR KLARNA GROUP PLC | Financials | 1.5M | $20.2M | 1.3% | New |
| 1B2 BITFARMS LTD/CANADA | — | 10.2M | $19.9M | 1.3% | +286.5% |
| FCFS FIRSTCASH HOLDINGS INC | Consumer discretionary | 97.0K | $18.2M | 1.2% | New |
| AAMI ACADIAN ASSET MANAGEMENT INC | Financials | 329.3K | $17.9M | 1.2% | New |
| OMF ONEMAIN HOLDINGS INC | Financials | 290.7K | $15.5M | 1.0% | -78.7% |
| MTB M & T BANK CORP | Financials | 74.3K | $14.9M | 1.0% | New |
| IBKR INTERACTIVE BROKERS GRO-CL A | Financials | 211.4K | $14.2M | 0.9% | New |
| CBC CENTRAL BANCOMPANY | Financials | 583.3K | $14.0M | 0.9% | +0.3% |
| PNFP PINNACLE FINANCIAL PARTNERS | Financials | 149.0K | $12.8M | 0.8% | New |
| BRBS BLUE RIDGE BANKSHARES INC | Financials | 2.7M | $11.4M | 0.7% | -45.3% |
| SSB SOUTHSTATE BANK CORP | Financials | 118.4K | $11.0M | 0.7% | New |
| NU NU HOLDINGS LTD/CAYMAN ISL-A | Financials | 671.1K | $9.6M | 0.6% | New |
| PFSI PENNYMAC FINANCIAL SERVICES | Financials | 109.9K | $9.6M | 0.6% | New |
| DBRG DIGITALBRIDGE GROUP INC | Financials | 500.7K | $7.7M | 0.5% | Held |
| WLTH WEALTHFRONT CORP | Financials | 811.1K | $7.5M | 0.5% | +169.9% |
| CIFR CIPHER DIGITAL INC | Financials | 259.6K | $3.3M | 0.2% | -70.9% |
| WULF TERAWULF INC | Financials | 224.5K | $3.2M | 0.2% | New |
| FHI FEDERATED HERMES INC | Financials | 53.9K | $3.1M | 0.2% | New |
| DAVE DAVE INC | Financials | 12.6K | $2.2M | 0.1% | -79.8% |
| GLBE GLOBAL-E ONLINE LTD | Technology | 21.3K | $656K | 0.0% | New |
| SLNH SOLUNA HOLDINGS INC | Financials | 23.9K | $17K | 0.0% | -18.5% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 45 | $1.52B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 47 | $1.59B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 63 | $2.16B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 58 | $2.21B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 41 | $1.47B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 57 | $2.23B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 49 | $1.86B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 54 | $2.17B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 54 | $1.38B | canonical | SEC ↗ |