Experiential Learning
Nittany Lion Fund
The Nittany Lion Fund (NLF) is a student managed investment fund (SMIF) in Penn State’s Smeal College of Business, where each semester, 40 undergraduate students manage an equity portfolio of over $18 million AUM for accredited investors.
In conjunction, students participate in an educational curriculum about stock valuation and portfolio management, attend presentations from industry professionals about financial topics and career insights, and enter various stock pitch competitions. Since its inception in 2005, the Nittany Lion Fund has been an invaluable experience for students at Penn State.
In the 2023-24 academic year, students welcomed guests from Goldman Sachs, TD Cowen, BDT & MSD, Bank of America, and many other firms to present on careers at their respective firms.
The fall and spring Wall Street trips included visits to Bank of America, BNP Paribas, Citi, Goldman Sachs, Incline Equity Partners, J.P. Morgan, Morgan Stanley, and UBS.
Thoughtful Leadership Transition
The Nittany Lion Club marks a significant evolution in leadership with Robert Everett succeeding Randy Woolridge. This transition was carefully planned through a national search and implemented by a multi-year transition with a full year of overlap between the two leaders. Watch the Nittany Lion Fund Leadership Transition Video for more information.
Robert W. Everett, Jr.
Dr. Everett is a Clinical Professor of Finance and will become CEO of the Nittany Lion Fund LLC on July 1, 2025. His professional experience is in equity research and investment management consulting. He was Vice President, Global Equity Research with Credit Suisse First Boston in Chicago and later in New York City. During that time, he provided valuation expertise and advice to top tier buy side clients including Putnam Investments, T Rowe Price, Alliance Capital, Merrill Lynch, and Morgan Stanley. Additionally, he produced customized and mass-distributed research on valuation and economic performance measurement. Dr. Everett’s academic experience started at Johns Hopkins University as Assistant Professor and Program Director overseeing the graduate programs in Finance, International Business, and Accounting. Other opportunities took him to the University of Vermont and Lock Haven University before coming to Penn State in 2017. His time at Smeal has entailed teaching undergraduate courses in financial markets, investment analysis and portfolio management, as well as teaching graduate courses in financial markets, and corporate finance. Dr. Everett holds a B.S. from Cornell University, an MBA from DePaul University and a Ph.D. from The George Washington University.
Leveraged Lion Capital
Leveraged Lion Capital (LLC) is the nation's first student-run syndicated loan and high-yield bond paper portfolio. The organization actively manages a $125 million paper portfolio via a hands-on approach by researching, analyzing, and pitching speculative grade debt.
Founded in 2017, the organization seeks to educate undergraduate students about the complex world of fixed income markets. LLC utilizes strategic partnerships with Bank of America Merrill Lynch, the Loan Syndications and Trading Association, and S&P Global to receive exclusive market data.
Additionally, LLC participates in a semi-annual Wall Street Trip organized by the executive board and LLC alumni. The organization has visited various firms, such as Bank of America, BNP Paribas, Citi, Goldman Sachs, J.P. Morgan, Morgan Stanley, TD Securities, UBS, and Wells Fargo.
New for 2025, we are excited to welcome Dr. Fred Hood as our new LLC faculty director.
Wall Street Boot Camp
Wall Street Boot Camp is a program initiated in 2007 by Robin Stevens and Professor Randy Woolridge. It is designed as a training program to better prepare students who aspire to careers in the highly competitive field of financial services. The program has been highly successful in serving dual purposes. It provides a true glimpse of the dedication and focus needed to succeed in a career on Wall Street. This preview allows for the candidate field to be narrowed to only the most aspiring individuals. Also, the program’s targeted approach ensures that students completing the program will be sufficiently prepared to utilize the Smeal network of volunteers.
Bonus Boot Camps
Bonus Boot Camps are sessions, open to all students, presented by Wall Street professionals on a wide range of topics relevant to the financial services industry. Presentations have covered such topics as private equity, venture capital, real estate investing, Fin Tech, fixed income trading, wealth management in a family office, innovation and global currency to name a few. Bonus sessions are advertised on the Smeal College list serves as well as through various student organizations. Ads announcing sessions are also placed on the digital screens located in the Business Building. Reservations are required due to limited seating with instructions on how to RSVP on the ad. Sessions are typically held in the Rogers Family Trading Room.
Corporate Finance Boot Camp
The inaugural year of the Corporate Finance Boot Camp launched with great success, welcoming 24 students selected from a competitive pool of 90 applicants. Designed to provide high-impact, experiential learning opportunities, the program is already seeing significant interest—214 students applied for the 2025–2026 cohort, a 138% increase. Of those applicants, over 77% are second-year students (Class of 2027), and more than one-third have a GPA above 3.9. Based on this growing demand, the program is set to expand to 30–35 students annually moving forward.
Throughout the 2024–2025 academic year, Boot Camp students engaged in a robust speaker series featuring 21 professionals from across the corporate finance landscape. These sessions included senior finance leaders discussing technical topics such as value creation, investor relations, capital budgeting, liquidity management, and M&A. In addition, the series incorporated hands-on career readiness workshops—covering resume development, LinkedIn optimization, behavioral interview prep, and case analysis—led by an HR lead at Vanguard and the Director of the Business Career Center at Smeal.
Students also had the opportunity to apply their skills in real-world scenarios. In the Johnson & Johnson 2025 University Case Competition, Boot Camp teams were tasked with analyzing multiple acquisition targets under a tight nine-day deadline. They performed in-depth financial analyses, conducted SWOT assessments, and developed thoughtful sensitivity analyses. One Boot Camp team took first place and a $2,000 prize, with two other Boot Camp teams finishing second and third, respectively.
In April, students participated in a corporate site visit to Marriott International headquarters in Bethesda, MD. The visit included discussions with senior leaders from FP&A, Treasury, Investor Relations, and M&A, as well as a tour of a Marriott property. The Director of Finance walked students through the property's income statement and capital budgeting processes, providing a rare behind-the-scenes perspective.
The year concluded with an Alumni Insights Panel, where students heard from recent Smeal graduates Alyssa Cotillo (Grant Thornton, Class of 2020) and Nate Reagle (ESPN, Class of 2019). The panel focused on navigating the early stages of a finance career, offering practical guidance on interviews, networking, and career growth.