Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Hirzel Capital Management Further Trims Stake In Hawaiian Holdings Inc. (HA)

Hirzel Capital Management, founded and managed by Zac Hirzel, has reduced its stake in Hawaiian Holdings Inc. (NASDAQ:HA) by some 18% to 3.26 million shares, according to a recent 13D filed with the Securities and Exchange Commission. Following the decrease, Hirzel holds 5.9% of the company’s outstanding common stock. It’s not the first time when the Texas-based hedge fund trims its stake in Hawaiian Holdings in the last couple of months, as it also reported discarding 542,800 shares at the beginning of June. It’s also worth mentioning that Zac Hirzel has served as a member of the company’s board of directors since December 2013.

Top 10 Things to Do Before You Die


Hirzel Capital Management is an activist hedge fund established by Zac Hirzel in 2008. The investor takes on a fundamental approach to investing by using both long and short strategies. Hirzel Capital Management’s equity portfolio is valued at around $1.03 billion and its holdings are diversified across the consumer discretionary, finance, energy, and transports sectors.

Zac Hirzel
Zac Hirzel
Hirzel Capital Management

Hirzel Capital Management is just one of more than 700 hedge funds, whose equity portfolios we collate quarterly as part of our small-cap strategy. Even though most smaller investors believe that tracking 13F filings is a fruitless endeavor because they are filed with a delay of a up to 45 days after the end of a calendar quarter, the results of our research prove that is not the case. To be on the safe side, we used a delay of 60 days in our backtests that involved 13F filings between 1999 and 2012 and we still managed to gain an annual double-digit alpha. Moreover, since the official launch of our strategy in August 2012, our small-cap strategy has obtained cumulative returns of more than 123%, beating the S&P 500 Total Return Index by greater than 66 percentage points (see the details).

Hawaiian Holdings Inc. (NASDAQ:HA), through its subsidiary Hawaiian Airlines Inc., provides scheduled air transportation of passengers and cargo services. The company provides transportation amongst the Hawaiian Islands, as well as between the Hawaiian Islands and several cities in the United States, South Pacific, Australia, New Zealand and Asia. Hawaiian Holdings’s stock has rebounded from the significant slump at the end of January and is currently trading flat year-to-date. Aside from Hirzel, another shareholder of Hawaiian is Joel Greenblatt’s Gotham Asset Management, which holds a $26.31 million stake, consisting of 1.01 million shares.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.