12 West Capital Shows Laureate Education Stake

Joel Ramin's hedge fund firm 12 West Capital has filed a 13G with the SEC regarding shares of Laureate Education (LAUR).  Per the filing, 12 West now owns 6.5% of the company with over 2.3 million shares.

This is a newly disclosed equity position for the firm.  The filing was made due to activity on September 15th.

Per Google Finance, Laureate Education "provides higher education programs and services to students through an international network of licensed universities and higher education institutions (institutions). The Company’s programs are provided through institutions that are campus-based and Internet-based, or through electronically distributed educational programs (online). It offers its educational services through six segments: Brazil; Mexico; Andean and Iberian; Central America and United States (U.S.) Campuses; Online and Partnerships; and Europe, Middle East, Africa and Asia Pacific (EMEAA). Its institutions also offer an education that emphasizes professional-oriented fields of study with undergraduate and graduate degrees in a wide range of disciplines. As of June 30, 2017, the Company’s global network of 69 institutions comprised 57 institutions it owned or controlled, and an additional 12 institutions that it managed or with which it had other relationships. "

12 West Capital Exits Diana Containerships & Euroseas Positions

Joel Ramin's hedge fund 12 West Capital has filed two 13D's with the SEC regarding shares of Diana Containerships (DCIX) and Euroseas (ESEA). 

Per the filings, 12 West no longer owns any shares of either company as of November 17th.  Shares of DCIX and ESEA spiked massively in mid-November (422% and 172% respectively) and it looks like the fund took advantage of that to liquidate its positions.

They sold DCIX shares at $6.26, $5.51 (weighted average), and $4.89 on November 17th and 18th.

Per Google Finance, Diana Containerships is "engaged in the business of ownership of containerships. The Company is engaged in the seaborne transportation industry through the ownership of containerships and operates its fleet through Unitized Ocean Transport Limited (UOT), a subsidiary of the Company. UOT provides the Company and its vessels with management and administrative services. The Company's fleet consists of approximately seven panamax and over six post-panamax containerships with a combined carrying capacity of approximately 66,440 twenty-foot equivalent unit (TEU) and a weighted average age of over 9.7 years. The Company's vessels include SAGITTA, CENTAURUS, PAMINA, CAP DOUKATO and PUCON."

Per Google Finance, Euroseas is "engaged in the shipping business. The Company is an owner and operator of drybulk and container carrier vessels and is a provider of seaborne transportation for drybulk and containerized cargoes. Eurobulk Ltd. manages the Company's operations. The Company also owns and operates dry bulk carriers that transport major bulks, such as iron ore, coal and grains, and minor bulks, such as bauxite, phosphate and fertilizers. The Company has a fleet of 12 vessels, including Kamsarmax drybulk carrier, Panamax drybulk carriers and Handymax drybulk carrier, Intermediate containerships, Handysize containerships, and Feeder containerships. The Company’s five drybulk carriers have a total cargo capacity of 351,272 deadweight tons (dwt), and its seven containerships have a cargo capacity of 11,828 twenty-foot equivalent units (teu)."

12 West Capital Discloses Ari Network Services Stake

Joel Ramin's hedge fund firm 12 West Capital has filed a 13G with the SEC regarding shares of Ari Network Services (ARIS).  Per the filing, 12 West now owns 5.9% of the company with 1,020,010 shares.

This is a newly disclosed equity stake for the firm and the filing was made due to activity on July 1st.

Per Google Finance, Ari Network Services is "creates software-as-a-service (SaaS) and data-as-a-service (DaaS) solutions that help equipment manufacturers, distributors and dealers in selected vertical markets Sell More Stuff!- online and in-store. The Company’s solutions include Web Platform Solutions, eCatalog Platform Solutions and Lead Management Product. The Company’s SaaS and DaaS solutions include eCommerce-enabled websites, which provide a Web presence for dealers and serve as a platform for driving leads and eCommerce sales; eCatalogs, which drive sales of inventory and PG&A both online and within the dealership; and lead management software designed to increase sales for dealers through management and closure of leads."

12 West Capital Discloses Research Solutions Position

Joel Ramin's hedge fund firm 12 West Capital has filed a 13D with the SEC regarding shares of Research Solutions (RSSS).  Per the filing, 12 West now owns 32.9% of the company with over 8.32 million shares.

This is a newly disclosed equity stake and the filing was made due to activity on June 23rd. 

The company recently announced a private placement with "an institutional investor" where each unit consisted of 1 share of common stock and one warrant to purchase three-tenths of one share of common stock at an exercise price of $1.25 per share. 

You can view additional portfolio activity from 12 West Capital here. 

Per Google Finance, Research Solutions "subsidiaries include Reprints Desk, Inc. and Reprints Desk Latin America S. de R.L. de C.V. The Company, through its subsidiaries, provides on-demand access to scientific, technical, and medical (STM) information for life science companies, academic institutions, and other research-intensive organizations. It provides two types of services: Article Galaxy journal article platform (Article Galaxy), and Reprints and ePrints. Article Galaxy is its cloud-based software-as-a-service solution, which provides its customers with a single source to the universe of published STM content that includes over seventy million existing STM articles and over one million newly published STM articles each year. Reprints and ePrints services are charged on a transactional basis and order volume typically fluctuates from month to month based on customer marketing budgets and the existence of STM journal articles that fit customer requirements."

12 West Capital Reveals Papa Murphy's Stake

Joel Ramin's hedge fund firm 12 West Capital has filed a 13G with the SEC regarding shares of Papa Murphy's (FRSH).  Per the filing, 12 West now owns 6.3% of Papa Murphy's with over 1.06 million shares.

The filing was made due to activity on May 18th. This is a newly disclosed equity position as they did not show a stake at the end of the first quarter.

Per Google Finance, Papa Murphy's "is a franchisor and operator of the Take 'N' Bake pizza chain in the United States. The Company franchises the right to operate Take 'N' Bake pizza franchises and operates Take 'N' Bake pizza stores owned by the Company. The Company operates through three segments: Domestic Company Stores, Domestic Franchise and International. Its Domestic Franchise segment consists of its domestic franchised stores, which represent its system-wide stores and derives its revenues from franchise and development fees and the collection of franchise royalties. The Domestic Company Stores segment consists of its Company-owned stores in the United States and derives its revenues from retail sales of pizza and side items to the general public. Its International segment consists of its stores outside of the United States, all of which are franchised and derives its revenues from franchise and development fees."

12 West Capital Discloses Atlantic Power Stake

Joel Ramin's hedge fund firm 12 West Capital has filed a 13G with the SEC regarding shares of Atlantic Power (AT).  Per the filing, 12 West now owns 5.1% of the company with over 6.2 million shares.

This is a newly revealed position and the filing was made due to activity on July 24th.  The company recently sold its wind portfolio and redeemed senior unsecured notes.  Over the past month, AT common shares have fallen from around $3.25 to current levels of around $2.36.

Per Yahoo Finance, Atlantic Power Corporation "owns and operates a fleet of power generation assets in the United States and Canada."

You can view additional recent portfolio activity from 12 West Capital here.

12 West Capital Increases Position in Diana Containerships

Joel Ramin's hedge fund firm 12 West Capital has filed an amended 13D with the SEC regarding its position in Diana Containerships (DCIX).  Per the filing, 12 West now owns 26.1% of the company with over 19.28 million shares.  This is up from the 18.85 million shares they owned at the end of the first quarter.

The filing indicates that Ramin's hedge fund purchased DCIX shares throughout June, with most of the recent buying coming at the end of the month at prices between $2.2040 and $2.4181.

Shares of Diana Containerships have continued to fall and currently trade around $1.91.

Per Google Finance, Diana Containerships is "a global provider of shipping transportation services through its ownership of containerships. The Company's vessels are employed primarily on time charters with liner companies that are carrying containerized cargo along shipping routes. Each of the Company's vessels is owned by its separate wholly owned subsidiaries. The commercial and technical management of its fleet, as well as providing administrative services relating to the fleet's operations, are carried out, by its wholly owned subsidiary, Unitized Ocean Transport Limited (UOT). The Company's fleet consists of approximately seven panamax and four post-panamax containerships with a combined carrying capacity of 52,359 twenty-foot equivalent units and a weighted average age of 11.2 years. The Company's vessels include Sagitta, Centaurus, Santa Pamina, Cap Domingo, Puelo, Pucon and Cap Doukato, among others.." 

12 West Capital Boosts Advanced Drainage Systems Stake

Joel Ramin's hedge fund firm 12 West Capital has filed a 13G with the SEC regarding its stake in Advanced Drainage Systems (WMS).  Per the filing, 12 West now owns 6.1% of the company with over 3.24 million shares.

They've increased their position size by over 1.73 million shares since the end of the third quarter.  The filing was required due to portfolio activity on December 4th.

For more from this hedge fund, we posted up some other recent portfolio activity from 12 West here.

Per Google Finance, Advanced Drainage Systems is "a manufacturer of thermoplastic corrugated pipe, providing a comprehensive suite of water management products and superior drainage solutions for use in the construction and infrastructure marketplace. The Company’s products are used across a range of end markets and applications, including non-residential, residential, agriculture and infrastructure applications."

12 West Capital Discloses RetailMeNot Stake

Joel Ramin's hedge fund firm 12 West Capital has filed a 13G with the SEC regarding shares of RetailMeNot (SALE).  Per the filing, 12 West now owns 5.3% of the company with over 2.87 million shares.

This is a newly disclosed position for the firm and the filing was required due to activity on October 16th.

You can view additional portfolio activity from 12 West Capital here.

Per Google Finance, RetailMeNot "operates digital coupon marketplace, connecting consumers with retailers and brands."

12 West Capital Discloses Diana Containerships Position

Joel Ramin's hedge fund firm 12 West Capital has filed 13D with the SEC regarding shares of Diana Containerships (DCIX).  Per the filing, the hedge fund now owns 22.4% of the company with over 16.4 million shares.

This is a newly disclosed position for 12 West and the filing was made due to activity on July 29th. 

The 13D breaks down some of 12 West's recent purchases in the open market in late June at around $2.52 per share and then via a private placement purchase at the end of July at $2.51.

12 West also has previously disclosed a stake in Euroseas.  You can view additional portfolio activity from 12 West Capital here.

12 West Capital Discloses NutriSystem Stake

Joel Ramin's hedge fund firm 12 West Capital has filed a 13G with the SEC regarding shares of NutriSystem (NTRI).  Per the filing, the hedge fund now owns 5.3% of the company with over 1.5 million shares.

This is a newly disclosed equity stake for the firm and the filing was made due to activity in July 16th. 

You can view other recent portfolio activity from 12 West here.

Per Google Finance, NutriSystem is "a provider of a weight management system. The Company’s customers purchase monthly food packages containing a 28-day supply of breakfasts, lunches, dinners and desserts, which they supplement with dairy, fruit, salad, vegetables and low-glycemic carbohydrate items. Its customers order on an auto-delivery basis (Auto-Delivery), in which it sends a month’s food supply on an ongoing basis until notified by the customer to stop its shipments. Its product offerings also include a combination of its ready-to-go food and its fresh-frozen line of menu items. It sells its weight management program through a direct-to-consumer sales and distribution approach using the Internet and telephone."

12 West Capital Starts Euroseas Stake

Joel Ramin's hedge fund firm 12 West Capital has filed a 13G with the SEC regarding shares of Euroseas (ESEA).  Per the filing, 12 West now owns 19.6% of ESEA with over 11.1 million shares.

This is a newly disclosed equity position as they didn't hold any shares at the end of 2013.  The filing was made due to activity on March 14th. 

You can view other recent portfolio activity from 12 West Capital here.

Per Google Finance, Euroseas is "a provider of worldwide ocean-going transportation services. The Company owns and operates drybulk carriers that transport major bulks, such as iron ore, coal and grains, and minor bulks, such as bauxite, phosphate and fertilizers. The Company also owns and operates containerships and multipurpose vessels that transport dry and refrigerated containerized cargoes, including manufactured products and perishables."

Joel Ramin's 12 West Capital Starts Zulily Position

Joel Ramin's hedge fund 12 West Capital has disclosed a new position in Zulily (ZU) per a 13G filed with the SEC.  The hedge fund now owns 5.6% of ZU with 735,804 shares.  The filing was made due to activity on January 31st.

12 West isn't the only hedge fund involved here as we've detailed how Blue Ridge Capital reported a Zulily stake as well.

Per Google Finance, Zulily is "an e-commerce company. The Company, through its desktop and mobile Websites and mobile applications, which it refers to as its sites, helps its customers discover new and unique products. The Company provides moms with a selection of over 4,500 product styles offered on a typical day through various flash sales events, which are limited-time curated online sales of selected products launched each day on its sites. The Company offers merchandise primarily targeted at moms purchasing for their children, themselves and their homes. Its merchandise includes children’s apparel, women’s apparel, and other product categories, such as toys, infant gear, kitchen accessories and home decor The Company sources its merchandise from thousands of vendors, including emerging brands and smaller boutique vendors, as well as larger national brands.The Company offers merchandise primarily targeted at moms purchasing for their children, themselves and their homes."

You can view past portfolio activity from 12 West Capital here.

12 West Capital Increases Aegean Marine Petroleum Network Holdings

Joel Ramin's hedge fund firm 12 West Capital has filed a 13G with the SEC regarding its position in Aegean Marine Petroleum Network (ANW).  Per the filing, they now own 5.1% of the company with 2,388,713 shares.

This marks an 8% increase in their position size and the filing was required due to activity on November 12th.

Prior to founding 12 West, Ramin worked at Roberto Mignone's Bridger Capital.

Per Google Finance, Aegean Marine Petroleum Network is "an independent physical supplier and marketer of refined marine fuel from refineries, major oil producers and other sources and resell and deliver these fuels using its bunkering vessels to a broad base of end users, including oil tankers, container ships, drybulk carriers, cruise ships, reefers, LNG/LPG carriers, car carriers, ferries, marine fuel traders, brokers and other users. The Company serves Greece, Gibraltar, the United Arab Emirates, or UAE, Jamaica, Singapore, Northern Europe, Antwerp-Rotterdam-Amsterdam (ARA), Portland, United Kingdom, West Africa, Vancouver, Montreal, Mexico, Trinidad and Tobago, Las Palmas, Tenerife, Morocco, Cape Verde and Panama"

We've highlighted some other portfolio activity from 12 West Capital here.

Joel Ramin's 12 West Capital Discloses Masonite Stake

Joel Ramin's hedge fund 12 West Capital recently filed a 13G with the SEC and disclosed a new position in Masonite International (DOOR).  Per the filing, 12 West owns 7.3% of DOOR with 2,116,969 shares.

This is a newly disclosed position for the hedge fund and the 13G was required due to portfolio activity on September 9th. 

While the majority of their position is via common stock, they own warrants that allow the fund to purchase 598,385 shares at an exercise price of $50.77 per share (Masonite currently trades around $49.70).

Joel Ramin founded 12 West Capital after working at Roberto Mignone's Bridger Capital, another hedge fund we cover on MarketFolly.  Prior to that, he worked at Blackstone Group.  He founded 12 West in 2011.

Per Google Finance, Masonite is "a designer and manufacturer of interior and exterior doors for the residential new construction; the residential repair, renovation and remodeling, and the non-residential building construction markets. The Company principally operates in North America; Europe, Asia and Latin America, and Africa. The Company markets and sells its products to remodeling contractors, builders, homeowners, retailers, dealers, lumberyards, commercial and general contractors and architects through wholesale and retail distribution channels. Its portfolio of brands includes Masonite, Marshfield, Premdor, Mohawk, Megantic, Algoma, Baillargeon, Birchwood Best and Lemieux."

For more from this hedge fund, we also detailed other portfolio activity from 12 West Capital last month.

Joel Ramin's 12 West Capital Updates Ari Network Services (ARIS) Stake

Joel Ramin's hedge fund firm 12 West Capital recently filed Forms 3, 4 and an amended 13G with the SEC regarding shares of Ari Network Services (ARIS).  Per the filing, 12 West has disclosed a 11.2% ownership stake in ARIS with 1,451,290.

It appears as though they exercised March 2018 warrants with an exercise price of $1.8 which yielded 300,000 shares of common stock.   The filings were required due to portfolio activity on July 29th.


About 12 West Capital

This is the first time we've covered this hedge fund.  Before founding 12 West, Joel Ramin was previously an analyst at Roberto Mignone's Bridger Capital and before that worked at Blackstone Group.  He founded 12 West in 2011.


About Ari Network Services

Per Google Finance, Ari Network Services "provides technology-enabled services that help dealers, distributors and manufacturers worldwide. The Company delivers its services to sectors, such as outdoor power, power sports, marine, RV and appliance sectors. It develops and offers electronic catalog content for approximately 125 manufacturers. It offers products in three categories: electronic catalogs for publishing, viewing and interacting with technical reference information about equipment; lead management services, designed to help dealers, and Websites with e-commerce capabilities designed to generate sales through the sites and provide information to consumers in the dealers’ local areas."