The 700+ hedge funds and money managers tracked by Insider Monkey have already compiled and submitted their 13F filings for the third quarter, which unveil their equity positions as of September 30. We went through these filings, fixed typos and other more significant errors and identified the changes in hedge fund positions. Our extensive review of these public filings is finally over, so this article is set to reveal the smart money sentiment towards Apple Hospitality REIT Inc (NYSE:APLE) .
Apple Hospitality REIT Inc (NYSE:APLE) was in 11 hedge funds’ portfolios at the end of September. APLE shareholders have witnessed an increase in hedge fund sentiment of late. There were 11 hedge funds in our database with APLE holdings at the end of September. At the end of this article we will also compare APLE to other stocks including ONE Gas Inc (NYSE:OGS), Hawaiian Electric Industries, Inc. (NYSE:HE), and Snyder S Lance Inc (NASDAQ:LNCE) to get a better sense of its popularity.
At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 18% gains over the past 12 months, more than doubling the 8% returns enjoyed by the S&P 500 ETFs.
Keeping this in mind, we’re going to go over the fresh action surrounding Apple Hospitality REIT Inc (NYSE:APLE).
What have hedge funds been doing with Apple Hospitality REIT Inc (NYSE:APLE)?
At the end of the third quarter, a total of 11 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 57% from one quarter earlier. The graph below displays the number of hedge funds with bullish position in APLE over the last 5 quarters. So, let’s see which hedge funds were among the top holders of the stock and which hedge funds were making big moves.
According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Millennium Management, one of the 10 largest hedge funds in the world, has the most valuable position in Apple Hospitality REIT Inc (NYSE:APLE), worth close to $12.3 million, corresponding to less than 0.1%% of its total 13F portfolio. On Millennium Management’s heels is D E Shaw, which holds a $4.6 million position; less than 0.1%% of its 13F portfolio is allocated to the stock. Other professional money managers with similar optimism comprise Clinton Group, and Mike Vranos’s Ellington. We should note that none of these hedge funds are among our list of the 100 best performing hedge funds which is based on the performance of their 13F long positions in non-microcap stocks.