Nesbitt Stephen Lane purchased ~$21M in Cliffwater Enhanced Lending Fund stock
Cliffwater Enhanced Lending Fund (CELFX) · President/Interested Trustee · Data via SEC EDGAR Form 4
Price Performance · 10 days before → 90 days after trade
▲ = insider buy date
90-day return
+2.8%vs SPY +12.2%
Trade Details · Public SEC Filing
Insider
Nesbitt Stephen Lane
Role
President/Interested Trustee
Transaction
Open-Market Purchase
Approx. Value
~$21M
Trade Date
May 7, 2025
Company
Cliffwater Enhanced Lending Fund
Ticker
CELFXSource
SEC EDGAR Form 4
Why This Trade Stands Out
Very Strong conviction signal
Scored in the top tier across multiple factors. Fewer than 5% of insider trades receive this rating.
~$21M purchase
Trades over $1M are rare. When insiders put this much of their own money on the line, they tend to have high conviction in their company's direction.
President/Interested Trustee
Corporate insiders must file trades with the SEC within 2 business days. Their unique access to non-public information makes these filings valuable data points.
+2.8% in 90 days (S&P 500: +12.2%)
This trade underperformed the S&P 500 by 9.5 percentage points. Not every insider trade wins. We track all of them so you can focus on the insiders with the best records.
How good is Nesbitt Stephen Lane at picking stocks?
Full track record: win rate, average return, and performance vs S&P 500
On May 7, 2025, Nesbitt Stephen Lane — President/Interested Trustee of Cliffwater Enhanced Lending Fund — filed a Form 4 with the SEC disclosing an open-market purchase of approximately ~$21M in Cliffwater Enhanced Lending Fund (CELFX) stock.
Under Section 16(a) of the Securities Exchange Act of 1934, corporate insiders must report all open-market stock transactions to the SEC within two business days. These filings — known as Form 4s — are publicly available on the SEC's EDGAR database. VeritySignals filters and scores the full Form 4 stream to surface high-conviction signals like this one.
In the 90 days following this trade, CELFX returned +2.8% versus +12.2% for the S&P 500 over the same period.
VeritySignals Conviction Analysis
Full Conviction Analysis
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All data sourced from publicly available SEC Form 4 filings via EDGAR · Not financial advice · Past performance does not guarantee future results.
At a Glance
More CELFX Insider Activity
Nesbitt Stephen Lane
Jul 10, 2025
~$3.5M
VS
Nesbitt Stephen Lane
Jul 10, 2025
~$7.0M
VS
Nesbitt Stephen Lane
May 7, 2025
~$64M
VS
Nesbitt Stephen Lane
Nov 22, 2023
~$13M
STRONG
How to Read Insider Trades
What is this?
When company executives buy or sell their own stock, they must report it to the SEC within 2 days. These public filings reveal what the people who know the company best are doing with their own money.
Why does it matter?
Insiders can sell for many reasons (taxes, diversification, expenses), but they generally only buy for one: they think the stock is going up. That's why insider purchases are more predictive than sales.
What makes a trade "strong"?
We score trades on 15+ factors: the insider's role (CEO > director), trade size relative to their salary, whether other insiders also bought (clusters), and historical accuracy of the insider.
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