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Our extensive research has shown that imitating the smart money can generate significant returns for retail investors, which is why we track nearly 750 active prominent money managers and analyze their quarterly 13F filings. The stocks that are heavily bought by hedge funds historically outperformed the market, though there is no shortage of high profile failures like hedge funds' 2018 losses in Facebook and Apple. Let’s take a closer look at what the funds we track think about Camden Property Trust (NYSE:CPT) in this article.
Camden Property Trust (NYSE:CPT) has seen an increase in activity from the world's largest hedge funds of late. CPT was in 20 hedge funds' portfolios at the end of September. There were 19 hedge funds in our database with CPT holdings at the end of the previous quarter. Our calculations also showed that CPT isn't among the 30 most popular stocks among hedge funds (click for Q3 rankings and see the video below for Q2 rankings).
Video: Click the image to watch our video about the top 5 most popular hedge fund stocks.
To the average investor there are a large number of metrics shareholders put to use to size up publicly traded companies. A pair of the most innovative metrics are hedge fund and insider trading moves. Our researchers have shown that, historically, those who follow the top picks of the elite investment managers can outpace the S&P 500 by a healthy margin (see the details here).
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Phill Gross of Adage Capital Management[/caption]
Unlike the largest US hedge funds that are convinced Dow will soar past 40,000 or the world's most bearish hedge fund that's more convinced than ever that a crash is coming, our long-short investment strategy doesn't rely on bull or bear markets to deliver double digit returns. We only rely on the best performing hedge funds' buy/sell signals. We're going to take a peek at the fresh hedge fund action surrounding Camden Property Trust (NYSE:CPT).
How have hedgies been trading Camden Property Trust (NYSE:CPT)?
At Q3's end, a total of 20 of the hedge funds tracked by Insider Monkey were long this stock, a change of 5% from the previous quarter. By comparison, 14 hedge funds held shares or bullish call options in CPT a year ago. So, let's find out which hedge funds were among the top holders of the stock and which hedge funds were making big moves.
The largest stake in Camden Property Trust (NYSE:CPT) was held by Millennium Management, which reported holding $101.6 million worth of stock at the end of September. It was followed by Citadel Investment Group with a $52.3 million position. Other investors bullish on the company included Winton Capital Management, Balyasny Asset Management, and AQR Capital Management. In terms of the portfolio weights assigned to each position Winton Capital Management allocated the biggest weight to Camden Property Trust (NYSE:CPT), around 0.58% of its 13F portfolio. Carlson Capital is also relatively very bullish on the stock, dishing out 0.25 percent of its 13F equity portfolio to CPT.