Insider Monkey has processed numerous 13F filings of hedge funds and famous investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds and investors’ positions as of the end of the third quarter. You can find write-ups about an individual hedge fund’s trades on numerous financial news websites. However, in this article we will take a look at their collective moves and analyze what the smart money thinks of Nelnet, Inc. (NYSE:NNI) based on that data.
Nelnet, Inc. (NYSE:NNI) has seen an increase in hedge fund sentiment of late. NNI was in 21 hedge funds’ portfolios at the end of September. There were 18 hedge funds in our database with NNI positions at the end of the previous quarter. At the end of this article we will also compare NNI to other stocks including Allegheny Technologies Incorporated (NYSE:ATI), Intersil Corp (NASDAQ:ISIL), and Chesapeake Lodging Trust (NYSE:CHSP) to get a better sense of its popularity.
In the eyes of most stock holders, hedge funds are assumed to be underperforming, outdated financial tools of years past. While there are more than 8,000 funds trading today, we hone in on the crème de la crème of this group, approximately 700 funds. Most estimates calculate that this group of people command the lion’s share of the hedge fund industry’s total asset base, and by tracking their inimitable investments, Insider Monkey has found many investment strategies that have historically outrun the broader indices. Insider Monkey’s small-cap hedge fund strategy outperformed the S&P 500 index by 12 percentage points per year for a decade in their back tests.
With all of this in mind, we’re going to take a look at the fresh action regarding Nelnet, Inc. (NYSE:NNI).
What have hedge funds been doing with Nelnet, Inc. (NYSE:NNI)?
Heading into Q4, a total of 21 of the hedge funds tracked by Insider Monkey held long positions in this stock, a 17% increase from one quarter earlier. With hedgies’ positions undergoing their usual ebb and flow, there exists a few key hedge fund managers who were upping their stakes considerably (or had already accumulated large positions).
According to Insider Monkey’s hedge fund database, Seawolf Capital, managed by Porter Collins, Daniel Moses, and Vincent Daniel, holds the most valuable position in Nelnet, Inc. (NYSE:NNI). Seawolf Capital has a $22.7 million position in the stock, comprising 5.7% of its 13F portfolio. The second-most bullish fund manager is Millennium Management, led by Israel Englander, holding a $21.4 million position; the fund has less than 0.1% of its 13F portfolio invested in the stock. Other members of the smart money that hold long positions comprise Joe Huber’s Huber Capital Management, Ken Griffin’s Citadel Investment Group, and Renaissance Technologies, founded by Jim Simons.