Andrew Axelrod’s Hedge Fund Axar Capital Management’s Return, AUM, and Holdings

StoneMor Partners LP (NYSE:STON) was one of the most notable positions in Axar Capital Management’s portfolio at the end of the third quarter of 2018. After raising its stake by 4%, the fund acquired a total of 6,879,333 shares worth $35.29 million. Stone Mor is a trading company structured as a partnership. The company owns and operates 316 cemeteries and 97 funeral homes in the United States.

Another significant position was Patterson-UTI Energy Inc (NASDAQ:PTEN), the fund procured  730,000 shares valued at $12.49 million. Patterson-UTI Energy is a company that offers drilling and pressure pumping technology for the oil and gas extraction industry.Additionally, the fund raised its stake by 9% in Stage Stores Inc (NYSE:SSI) acquiring 2,300,000 shares worth $4.53 million. Stage Stores operates around 830 department stores in the United States.

Some other positions in  Axar Capital Management’s 13F portfolio for Q3 of 2018 were Five Star Senior Living (NASDAQ:FVE) with 2,073,398 shares worth $1.78 million and Jakks Pacific Inc (NASDAQ:JAKK) where it holds 141,194 shares worth a value of $360,000.

Disclosure: None

This article was originally published at Insider Monkey.