Mangrove Partners: Performance, AUM, and Holdings

Let’s take a look at Mangrove Partners’ recent moves by checking their holdings as reported in their 13F filing with the Securities and Exchange Commission for the second quarter of 2018. Out of 32 reported holdings, the fund’s largest stake was is in Penn Va Corp New (PVAC), with the fund owning 1.44 million shares worth around $122 million. Smart investors from our database were also getting more bullish on Penn Va Corp NEW (PVAC), with 20 funds owning long positions at the end of the second quarter vs. 14 positions at the end of the first quarter.

There were eight additions to Mangrove Partners’ portfolio in the second quarter, and the biggest one was in Cai International Inc. (CAI), with the fund obtaining a 306,578-share position worth around $7.13 million. The other companies that were added to Mangrove Partners’ portfolio in the second quarter included Fly Leasing Ltd (FLY), Spirit Mta Reit (SMTA), Adient Plc (ADNT), New Frontier Corp (NFC), Thunder Bridge Acquisition L (TBRGU), and Twelve Seas Investment Co (TWLVU).

The fund also boosted and lowered some positions, with the biggest increase being in Aldeyra Therapeutics Inc (ALDX), with the fund now holding a position valued at $3.45 million after raising it by 34% to 434,344 shares. On the other hand, the fund significantly lowered its stake in Atlantic Power Corp (AT), almost halving its position to 5.97 million shares valued at $13.13 million.

Furthermore, Mangrove Partners also dumped eight companies during the second quarter that were in its portfolio at the end of March. The largest position the fund said goodbye to was in AerCap Holdings N.V. (AER), selling all 473,438 shares it had owned on March 31. Next in line was Spirit Realty Capital, Inc. (SRC), as Mangrove sold off 2.56 million shares valued at $19.9 million at the end of March. Other companies in which Mangrove Partners lost faith includes Tier Reit Inc. (TIER), Genco Shipping & Trading Ltd. (GNK), Steel Partners Holdings L.p. (SPLP), Ofg Bancorp (OFG), and First Bancorp (FBP).

Disclosure: None