Zac Hirzel 's Hirzel Capital Management has reported slightly reducing its position in Hawaiian Holdings, Inc. (NASDAQ: HA ). A new filing with the Securities and Exchange Commission showed that Hirzel sold around 365,100 shares of the company at an average price of $18.46 per unit. Following the sale, Hirzel Capital owns around 5.3 million shares, including some 4,500 shares held directly by Mr. Hirzel, who serves on Hawaiian Holdings' board of directors. Hirzel Capital Management is a Texas-based hedge fund with a mid-sized equity portfolio, worth approxiamately $946.9 million as at the end of June. Hawaiian Holdings represents the largest position in terms of value, amassing around 8% of the total portfolio value. The fund was on the radars around a year ago when it went activist on Aeropostale Inc (NYSE: ARO ).