What do Hedge Funds Think of Blackstone Mortgage Trust Inc (BXMT)?

We at Insider Monkey have gone over 700 13F filings that hedge funds and prominent investors are required to file by the government. The 13F filings show the funds’ and investors’ portfolio positions as of September 30. In this article, we look at what those funds think of Blackstone Mortgage Trust Inc (NYSE:BXMT) based on that data.

Blackstone Mortgage Trust Inc (NYSE:BXMT) was in 24 hedge funds’ portfolios at the end of the third quarter of 2015. BXMT investors should be aware of a decrease in enthusiasm from smart money lately. There were 30 hedge funds in our database with BXMT holdings at the end of the previous quarter. At the end of this article we will also compare BXMT to other stocks including Portfolio Recovery Associates, Inc. (NASDAQ:PRAA), Helen of Troy Limited (NASDAQ:HELE), and HomeAway, Inc. (NASDAQ:AWAY) to get a better sense of its popularity.

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According to most stock holders, hedge funds are perceived as worthless, old investment vehicles of yesteryear. While there are greater than an  8,000 funds with their doors open at the moment, We look at the aristocrats of this club, around 700 funds. These investment experts handle the lion’s share of all hedge funds’ total asset base, and by keeping track of their first-class stock picks, Insider Monkey has figured out a number of investment strategies that have historically outrun Mr. Market. Insider Monkey’s small-cap hedge fund strategy outrun the S&P 500 index by 12 percentage points annually for a decade in their back tests.

With all of this in mind, we’re going to take a look at the fresh action regarding Blackstone Mortgage Trust Inc (NYSE:BXMT).

How have hedgies been trading Blackstone Mortgage Trust Inc (NYSE:BXMT)?

At the end of the third quarter, a total of 24 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of -20% from one quarter earlier. With the smart money’s sentiment swirling, there exists a few notable hedge fund managers who were upping their holdings considerably (or already accumulated large positions).

According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Long Pond Capital, managed by John Khoury, holds the number one position in Blackstone Mortgage Trust Inc (NYSE:BXMT). Long Pond Capital has a $164.6 million position in the stock, comprising 7.1% of its 13F portfolio. The second largest stake is held by John Armitage of Egerton Capital Limited, with a $49.8 million position; the fund has 0.6% of its 13F portfolio invested in the stock. Other members of the smart money that hold long positions comprise Lee Munder’s Lee Munder Capital Group, Ken Griffin’s Citadel Investment Group and Arthur Wrubel’s Wesley Capital Management.