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New Mountain Finance
NMFC

106 hedge funds and large institutions have $384M invested in New Mountain Finance in 2014 Q2 according to their latest regulatory filings, with 23 funds opening new positions, 45 increasing their positions, 27 reducing their positions, and 27 closing their positions.

New
Increased
Maintained
Reduced
Closed

196% more call options, than puts

Call options by funds: $915K | Put options by funds: $309K

67% more repeat investments, than reductions

Existing positions increased: 45 | Existing positions reduced: 27

50% more funds holding in top 10

Funds holding in top 10: 2 → 3 (+1)

6% more capital invested

Capital invested by funds: $364M → $384M (+$20M)

2.59% less ownership

Funds ownership: 52.34% → 49.74% (-2.6%)

4% less funds holding

Funds holding: 110 → 106 (-4)

15% less first-time investments, than exits

New positions opened: 23 | Existing positions closed: 27

Holders
106
Holders Change
-4
Holders Change %
-3.64%
% of All Funds
3.05%
Holding in Top 10
3
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+50%
% of All Funds
0.09%
New
23
Increased
45
Reduced
27
Closed
27
Calls
$915K
Puts
$309K
Net Calls
+$606K
Net Calls Change
-$649K

Top Buyers

Rank Fund Capital Flow
1
Norges Bank
Norges Bank
Norway
+$13.3M
2
Wells Fargo
Wells Fargo
California
+$11.5M
3
RTS
Round Table Services
New Jersey
+$7.34M
4
AllianceBernstein
AllianceBernstein
Tennessee
+$4.7M
5
CS
Credit Suisse
Switzerland
+$4.45M

Top Sellers

Rank Fund Capital Flow
1
BFA
BlackRock Fund Advisors
California
-$19.4M
2
State Street
State Street
Massachusetts
-$9.98M
3
ACM
Ashford Capital Management
Delaware
-$9.74M
4
BIT
BlackRock Institutional Trust
California
-$8.22M
5
AQR Capital Management
AQR Capital Management
Connecticut
-$3.6M
Name Holding Trade Value Shares
Change 		Change in
Stake
BF
26
BOK Financial
Oklahoma
$3.28M -$503K -35,070 -14%
Two Sigma Investments
27
Two Sigma Investments
New York
$3.19M +$2.76M +192,271 +847%
PP
28
Paloma Partners
Connecticut
$3.06M +$2.96M +206,262 New
GC
29
Guggenheim Capital
Illinois
$2.73M +$1.02M +70,950 +63%
GT
30
Glenmede Trust
Pennsylvania
$2.71M +$202K +14,079 +8%
WJA
31
Williams Jones & Associates
New York
$2.59M -$2.58M -180,250 -51%
New York State Common Retirement Fund
32
New York State Common Retirement Fund
New York
$2.12M +$241K +16,836 +13%
COPPSERS
33
Commonwealth of Pennsylvania Public School Employees Retirement System
Pennsylvania
$2.08M +$2.01M +139,876 New
Axa
34
Axa
France
$2.03M +$1.11M +77,366 +131%
LP
35
LMR Partners
United Kingdom
$2M +$1.93M +134,766 New
NCCM
36
Nine Chapters Capital Management
New Jersey
$1.96M +$480K +33,500 +34%
State Street
37
State Street
Massachusetts
$1.81M -$9.98M -696,305 -85%
D.E. Shaw & Co
38
D.E. Shaw & Co
New York
$1.77M +$1.33M +92,447 +346%
VanEck Associates
39
VanEck Associates
New York
$1.75M +$935K +65,211 +125%
AR
40
Advisory Research
Illinois
$1.65M +$496K +34,580 +45%
SMDAM
41
Sumitomo Mitsui DS Asset Management
Japan
$1.65M +$496K +34,580 +45%
Millennium Management
42
Millennium Management
New York
$1.46M +$745K +51,974 +112%
DCM
43
Dialectic Capital Management
Connecticut
$1.34M +$860K +60,000 +200%
PP
44
PDT Partners
New York
$1.32M +$1.28M +89,000 New
Stifel Financial
45
Stifel Financial
Missouri
$1.2M +$800K +55,800 +223%
N
46
Nuveen
North Carolina
$1.15M -$463K -32,296 -29%
EM
47
EnTrustPermal Management
New York
$1.14M -$22.2K -1,550 -2%
Principal Financial Group
48
Principal Financial Group
Iowa
$1.13M -$188K -13,123 -15%
KSCM
49
Kamunting Street Capital Management
Florida
$1.11M +$1.08M +75,000 New
SCM
50
Sterling Capital Management
North Carolina
$1.04M +$23K +1,603 +2%
1
2
3 4 5

NMFC Hedge Fund Activity: Q2 2014 in Review

106 of the 3,479 institutional investors tracked by Wall St. Rank reported a position in New Mountain Finance (NMFC) for Q2 2014, worth a combined $384M — up 5.5% from $364M a quarter earlier.

Sellers outnumbered buyers: 27 funds closed out of NMFC and 23 opened new positions — a net loss of 4 holders — while 27 trimmed existing stakes and 45 added.

The largest buyer was Norges Bank, opening a new position worth an estimated $13.3M. The largest seller was BlackRock Fund Advisors, exiting entirely with an estimated $19.4M sold.

  • 106 institutional investors held New Mountain Finance (NMFC) as of Q2 2014, down from 110 in Q1 2014.
  • Funds reported $384M of New Mountain Finance stock for Q2 2014, up 5.5% quarter-over-quarter.
  • 23 funds opened new New Mountain Finance positions in Q2 2014 and 27 closed out, a net change of -4 holders.
  • The largest New Mountain Finance buyer in Q2 2014 was Norges Bank, an estimated $13.3M added.
  • The largest New Mountain Finance seller in Q2 2014 was BlackRock Fund Advisors, an estimated $19.4M sold.

Based on aggregated 13F filings for Q2 2014.