Azora Capital LP — 13F Portfolio

Azora Capital LP operates as a New York-based hedge fund pursuing long/short equity strategies with a fundamentally-driven investment approach focused on identifying mispriced securities across the market capitalization spectrum. The firm files 13F reports with the Securities and Exchange Commission under CIK #0001700272, with filing history commencing in 2017 reflecting its establishment as an institutional investment manager. Founded by Steven Glass, who serves as Chief Investment Officer, Azora Capital emerged from the New York hedge fund ecosystem, bringing rigorous fundamental research capabilities to a concentrated portfolio construction process. The investment team, including Partner and Portfolio Manager James Mitchell, combines sector expertise with analytical discipline to identify high-conviction investment opportunities. Azora's New York headquarters positions the firm within proximity to corporate management teams, sell-side research, and the broader investment community essential for fundamental equity research. The hedge fund structure enables flexible mandate execution, incorporating both long and short positioning to generate alpha across varying market environments. Through the platform's 13F history and backtesting service, users can examine the evolution of Azora Capital's disclosed long positions and analyze portfolio construction patterns across multiple market cycles since filing inception.

Azora Capital employs a fundamentally-driven long/short equity strategy emphasizing rigorous company-specific research and variant perception development. The investment process centers on identifying securities where market prices diverge from the team's proprietary assessment of intrinsic value, with particular emphasis on growth-oriented companies demonstrating accelerating fundamentals, competitive advantages, and expanding addressable markets. Under Steven Glass's investment leadership, the team conducts deep-dive fundamental analysis, engaging with management teams, industry experts, and proprietary data sources to develop differentiated investment theses. 13F Portfolio Composition analysis reveals concentrated allocations favoring technology, healthcare, and consumer discretionary sectors—industries characterized by innovation-driven growth and substantial opportunity for fundamental differentiation. The firm's growth orientation reflects conviction in identifying companies capable of compounding earnings at above-market rates, with portfolio construction emphasizing highest-conviction ideas rather than broad diversification. Top 10 Holdings Concentration examination through the platform illuminates the degree of conviction weighting applied to core positions. Moderate-to-high turnover reflects an active investment approach responsive to evolving company fundamentals, catalyst realization, and risk-reward recalibration as market conditions change.

Azora Capital LP represents a fundamentally-driven long/short equity hedge fund operating from New York under the leadership of founder and CIO Steven Glass alongside Partner James Mitchell. The firm's 13F filing history under CIK #0001700272, commencing in 2017, provides visibility into portfolio construction decisions across multiple market cycles encompassing significant volatility events. The Historical Track Record accessible through the platform's simulation tools enables analysis of the disclosed long portfolio's capital trajectory and assessment of Annualized Return (CAGR) over the observation period. Observable portfolio characteristics suggest a high-conviction, growth-oriented approach with concentrated positions in technology, healthcare, and consumer discretionary sectors. Sharpe Ratio analysis can provide quantitative context for evaluating risk-adjusted efficiency of the disclosed holdings, while users should interpret metrics recognizing the long-only nature of 13F disclosures. Sector Allocation History examination through the platform reveals thematic preferences, concentration patterns, and tactical adjustments over time. Azora Capital maintains a minimal digital footprint consistent with hedge fund norms prioritizing investor privacy and competitive protection over public visibility. Downside Capture Ratio analysis can illuminate defensive characteristics of the disclosed long book during market corrections. A pivotal analytical question emerges: how does Azora Capital's concentrated growth portfolio respond during sustained factor rotations favoring value over growth, and what observable adjustments in sector allocation, position concentration, or portfolio composition appear in the 13F record during such regime transitions?

The risk characteristics of Azora Capital's disclosed portfolio reflect its concentrated, growth-oriented long/short equity mandate. Concentrated position sizing in growth sectors introduces elevated stock-specific risk, as meaningful allocations to individual securities can generate significant portfolio impact from company-specific developments. Volatility Profile analysis suggests sensitivity to growth factor performance, with potential for amplified movements during market rotations favoring value over momentum or during risk-off environments affecting high-multiple equities. Technology and healthcare concentration introduces sector-specific risk, including regulatory developments, competitive dynamics, and valuation compression during rising interest rate environments. Users should recognize that 13F disclosures capture only the long equity book and certain options positions, providing an incomplete picture of Azora's total risk exposure—short positions may substantially modify net market exposure and hedging characteristics at the portfolio level. Max Drawdown Depth examination through the platform's risk tools can illuminate how the disclosed long portfolio has navigated equity market corrections, including the 2018 volatility, 2020 pandemic disruption, and 2022 growth equity drawdown. The firm's filing history since 2017 provides meaningful stress-test observations across varying market conditions.