Lincoln Educational Services Corporation

LINC • NASDAQ

Lincoln Educational Services Corporation is a education & training services company in the consumer defensive sector on NASDAQ, led by Scott M. Shaw, with a market cap of $696.4M. As of Q3 2025, 83% of shares are held by 146 institutional investors, with Juniper Investment Company, LLC as the largest holder at 7.47%.

Chief Executive OfficerScott M. Shaw

Market Cap$696.4M

Education & Training Services

Consumer Defensive

Employees2.3K

Websitelincolntech.edu

Country

United States of America

Overview

Overview of institutional ownership in LINC as of Q3 2025 with a market cap of $743.0M

All Institutions

Institutions: 146
Value Held: $620.2M
Shares Held: 26.4M
Avg Position: $4.2M
Median Position: $697.5K

Hedge Funds

Hedge Funds: 25
Value Held: $188.5M
Shares Held: 8.0M
Avg Position: $7.5M
Median Position: $1.8M

Ownership Breakdown

Institutional (non-HF)

58.09%

$431.6M

Hedge Funds

25.37%

$188.5M

Retail & Other

16.54%

$122.9M

Based on market cap of $743.0M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in LINC as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
Juniper Investment Company, LLC Hedge Fund•Activist	Alexis Platon Michas Managing Partner	$55.5M 21.24% of portfolio	7.47% 2.4M shares	Q3 2019 Held for 6y 2m	$261.4M
B BlackRock, Inc. Institution	-	$50.4M 0.00% of portfolio	6.78% 2.1M shares	Q1 2017 Held for 8y 8m	$5.67T
VANGUARD GROUP INC Institution	Salim Ramji CEO	$39.5M 0.00% of portfolio	5.32% 1.7M shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
A Alyeska Investment Group, L.P. Hedge Fund•Multi-Strategy	Anand Christopher Parekh CEO	$34.1M 0.10% of portfolio	4.58% 1.4M shares	Q4 2016 Held for 8y 11m	$33.0B
H HEARTLAND ADVISORS INC Long Only Manager	William Richard Nasgovitz CEO	$30.3M 1.60% of portfolio	4.08% 1.3M shares	≤ Q2 2013 Held for 12y 5m+	$1.9B
WASATCH ADVISORS INC Long Only Manager	Michael Kenneth Yeates CEO	$27.5M 0.15% of portfolio	3.70% 1.2M shares	Q2 2024 Held for 1y 5m	$18.6B
NEEDHAM INVESTMENT MANAGEMENT LLC Hedge Fund•Long/Short	George Austin Needham CEO	$20.3M 1.42% of portfolio	2.74% 865.0K shares	Q2 2024 Held for 1y 5m	$1.4B
DIMENSIONAL FUND ADVISORS LP Long Only Manager	David Paul Butler CEO	$18.9M 0.00% of portfolio	2.55% 805.4K shares	≤ Q2 2013 Held for 12y 5m+	$466.32B
F First Eagle Investment Management, LLC Long Only Manager	Mehdi Asif Mahmud CEO	$18.2M 0.03% of portfolio	2.45% 774.6K shares	Q3 2021 Held for 4y 2m	$54.9B
NEXT CENTURY GROWTH INVESTORS LLC Long Only Manager	Thomas Leigh Press CEO	$17.9M 1.32% of portfolio	2.40% 759.9K shares	Q2 2024 Held for 1y 5m	$1.4B

Net Capital Flow

Institutional buying and selling activity for LINC in Q3 2025

Traded: +$21.9M
Buyers: 72
Sellers: 65
Total Bought: +$72.5M
Total Sold: −$50.6M
Avg Position: $3.9M

Biggest Buyers

Institution	Net Bought	Current Position
CANNELL CAPITAL LLC Hedge Fund•Long/Short	+$9.7M +411.1K shares	$13.5M 576.5K shares
A Alyeska Investment Group, L.P. Hedge Fund•Multi-Strategy	+$7.1M +300.0K shares	$34.1M 1.4M shares
NEEDHAM INVESTMENT MANAGEMENT LLC Hedge Fund•Long/Short	+$6.0M +255.5K shares	$20.3M 865.0K shares
DRIEHAUS CAPITAL MANAGEMENT LLC Hedge Fund•Event Driven	+$5.1M +218.2K shares	$9.4M 401.6K shares
A AMERICAN CENTURY COMPANIES INC Institution	+$4.3M +182.5K shares	$13.5M 572.5K shares
SCHWAB CHARLES INVESTMENT MANAGEMENT INC Long Only Manager	+$3.7M +158.7K shares	$5.8M 248.1K shares
Marshall Wace LLP Institution	+$3.6M +151.1K shares	$3.6M 151.1K shares
S Squarepoint Ops LLC Hedge Fund•Quant	+$2.7M +115.9K shares	$2.7M 115.9K shares
OBERWEIS ASSET MANAGEMENT INC/ Long Only Manager	+$2.6M +112.0K shares	$7.1M 301.6K shares
H HRT FINANCIAL LLC Institution	+$2.6M +111.9K shares	$2.6M 111.9K shares

Biggest Sellers

Institution	Net Sold	Current Position
R Russell Investments Group, Ltd. RIA/Wealth	−$5.9M −251.5K shares	$2.4M 103.3K shares
SG Capital Management LLC Hedge Fund•Event Driven	−$3.9M −170.6K shares	Sold Off 0 shares
EAM Investors, LLC Long Only Manager	−$3.9M −170.1K shares	Sold Off 0 shares
Calamos Advisors LLC Long Only Manager	−$3.7M −156.7K shares	$1.3M 55.4K shares
M Manatuck Hill Partners, LLC Hedge Fund•Long/Short	−$3.4M −143.9K shares	$2.6M 110.7K shares
Invesco Ltd. ETF Provider	−$3.0M −126.6K shares	$1.1M 47.7K shares
FIRST TRUST ADVISORS LP ETF Provider	−$2.2M −94.9K shares	Sold Off 0 shares
Portolan Capital Management, LLC Hedge Fund•Long/Short	−$1.8M −74.7K shares	$7.5M 319.9K shares
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	−$1.6M −69.5K shares	Sold Off 0 shares
R RICE HALL JAMES & ASSOCIATES, LLC Long Only Manager	−$1.5M −61.9K shares	$3.0M 129.1K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited LINC in Q3 2025

New Positions: 9
New Value: $2.0M
Exited Positions: 14
Exited Value: $16.7M

New Positions

Institution	Position Value
Atom Investors LP Hedge Fund•Market Neutral	$943.2K 40.1K shares
CWM Advisors, LLC ETF Provider	$456.5K 19.4K shares
FourThought Financial Partners, LLC RIA/Wealth	$325.7K 13.9K shares
Quantinno Capital Management LP Hedge Fund•Market Neutral	$230.8K 9.8K shares
S State of Alaska, Department of Revenue Institution	$36.0K 1.5K shares
O Optiver Holding B.V. Institution	$4.9K 208.0 shares
WHITTIER TRUST CO RIA/Wealth	$4.8K 213.0 shares
True Wealth Design, LLC RIA/Wealth	$376.0 16.0 shares
Caitong International Asset Management Co., Ltd RIA/Wealth	$258.0 11.0 shares

Exited Positions

Institution	Previous Position
SG Capital Management LLC Hedge Fund•Event Driven	$3.9M 170.6K shares
EAM Investors, LLC Long Only Manager	$3.9M 170.1K shares
FIRST TRUST ADVISORS LP ETF Provider	$2.2M 94.9K shares
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	$1.6M 69.5K shares
MACKENZIE FINANCIAL CORP Long Only Manager	$1.4M 59.7K shares
PDT Partners, LLC Hedge Fund•Quant	$778.4K 33.8K shares
Archon Capital Management LLC Hedge Fund•Long/Short	$691.5K 30.0K shares
Verition Fund Management LLC Hedge Fund•Multi-Strategy	$460.4K 20.0K shares
Counterpoint Mutual Funds LLC ETF Provider	$409.2K 17.8K shares
S SEI INVESTMENTS CO Institution	$408.4K 17.7K shares

Options Activity

Institutions with the largest Call and Put options positions in LINC as of Q3 2025

Call Positions: 6
Call Value: $1.8M
Put Positions: 4
Put Value: $796.7K

Call Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$674.5K 287.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$582.8K 248.0 contracts
P PEAK6 LLC Institution	$575.8K 245.0 contracts
Caption Management, LLC Hedge Fund•Long/Short	- - contracts
W WOLVERINE TRADING, LLC Institution	- - contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	- - contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$463.0K 197.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$333.7K 142.0 contracts
P PEAK6 LLC Institution	- - contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	- - contracts

Most Committed Institutions

Institutions with LINC as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Juniper Investment Company, LLC Hedge Fund•Activist	Alexis Platon Michas Managing Partner	21.24% $55.5M	7.47% 2.4M shares	Q3 2019 Held for 6y 2m	$261.4M
CANNELL CAPITAL LLC Hedge Fund•Long/Short	James Carlo Cannell President	3.56% $13.5M	1.82% 576.5K shares	Q2 2025 Held for 5 months	$380.9M
D Dauntless Investment Group, LLC Institution	-	3.46% $1.3M	0.18% 56.0K shares	Q4 2024 Held for 11 months	$38.1M
P Pullen Investment Management, LLC Institution	-	2.34% $4.3M	0.58% 184.1K shares	Q1 2024 Held for 1y 8m	$184.7M
AMH Equity Ltd Hedge Fund•Long/Short	Adam Michael Hutt President	2.24% $1.8M	0.24% 75.0K shares	Q3 2024 Held for 1y 2m	$78.8M
H HEARTLAND ADVISORS INC Long Only Manager	William Richard Nasgovitz CEO	1.60% $30.3M	4.08% 1.3M shares	≤ Q2 2013 Held for 12y 5m+	$1.9B
Pacific Ridge Capital Partners, LLC Long Only Manager	Mark Daniel Cooper President	1.59% $7.3M	0.99% 312.6K shares	Q1 2023 Held for 2y 8m	$460.6M
ESSEX INVESTMENT MANAGEMENT CO LLC Long Only Manager	Nancy Beth Prial CEO	1.43% $9.3M	1.26% 397.4K shares	Q2 2017 Held for 8y 5m	$652.5M
NEEDHAM INVESTMENT MANAGEMENT LLC Hedge Fund•Long/Short	George Austin Needham CEO	1.42% $20.3M	2.74% 865.0K shares	Q2 2024 Held for 1y 5m	$1.4B
NEXT CENTURY GROWTH INVESTORS LLC Long Only Manager	Thomas Leigh Press CEO	1.32% $17.9M	2.40% 759.9K shares	Q2 2024 Held for 1y 5m	$1.4B

Hedge Fund Spotlight

Discover hedge funds investing in LINC

Manatuck Hill Partners, LLC

Hedge Fund • Long/Short

Portfolio ManagerMark Allen Broach

Portfolio Value: $282.7M
Positions: 99
Last Reported: Q3 2025

Sector Allocation

Position in Lincoln Educational Services Corporation

Market Value: $2.6M
Shares Held: 110.7K
Portfolio Weight: 0.92%
Owned Since: 2024-Q1

Top Holding	Sector	Market Value	Weight
1 Zeta Global Holdings ZETA	Software - Application Technology	$14.0M	4.96%
2 The RealReal REAL	Luxury Goods Consumer Cyclical	$13.6M	4.81%
3 Imax IMAX	Entertainment Communication Services	$11.1M	3.93%