market folly

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.