Insider Monkey finished processing more than 700 13F filings made by hedge funds and prominent investors. These filings show these funds’ portfolio positions as of September 30. In this article we are going to take a look at smart money sentiment towards TriplePoint Venture Growth BDC Corp (NYSE:TPVG).
TriplePoint Venture Growth BDC Corp shareholders have witnessed an increase in enthusiasm from smart money of late. TPVG was in 6 hedge funds’ portfolios at the end of the third quarter of 2015. There were 4 hedge funds in our database with TPVG holdings at the end of the previous quarter. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity, but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as TrovaGene Inc (NASDAQ:TROV), Tobira Therapeutics Inc (NASDAQ:TBRA), and Nathan’s Famous, Inc. (NASDAQ:NATH) to gather more data points.
If you’d ask most stock holders, hedge funds are viewed as slow, old financial tools of the past. While there are more than 8000 funds trading at present, Our researchers hone in on the moguls of this group, approximately 700 funds. These money managers watch over bulk of the hedge fund industry’s total asset base, and by keeping an eye on their inimitable picks, Insider Monkey has deciphered a number of investment strategies that have historically outrun the S&P 500 index. Insider Monkey’s small-cap hedge fund strategy defeated the S&P 500 index by 12 percentage points annually for a decade in their back tests.
Now, let’s check out the latest action regarding TriplePoint Venture Growth BDC Corp (NYSE:TPVG).
What have hedge funds been doing with TriplePoint Venture Growth BDC Corp (NYSE:TPVG)?
At the end of the third quarter, a total of 6 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 50% from one quarter earlier. With hedgies’ sentiment swirling, there exists a few noteworthy hedge fund managers who were increasing their stakes meaningfully (or already accumulated large positions).
Of the funds tracked by Insider Monkey, Alyeska Investment Group, managed by Anand Parekh, holds the number one position in TriplePoint Venture Growth BDC Corp (NYSE:TPVG). Alyeska Investment Group has a $4.2 million position in the stock, comprising 0.1% of its 13F portfolio. The second most bullish fund manager is Millennium Management, led by Israel Englander, holding a $2.7 million position; less than 0.1%% of its 13F portfolio is allocated to the stock. Other hedge funds and institutional investors with similar optimism contain John Fichthorn’s Dialectic Capital Management, and John Overdeck and David Siegel’s Two Sigma Advisors.