In This Article:
We are still in an overall bull market and many stocks that smart money investors were piling into surged through the end of November. Among them, Facebook and Microsoft ranked among the top 3 picks and these stocks gained 54% and 51% respectively. Hedge funds' top 3 stock picks returned 41.7% this year and beat the S&P 500 ETFs by 14 percentage points. That's a big deal.This is why following the smart money sentiment is a useful tool at identifying the next stock to invest in.
Is Chart Industries, Inc. (NASDAQ:GTLS) a buy here? Money managers are becoming less hopeful. The number of long hedge fund positions decreased by 5 recently. Our calculations also showed that GTLS isn't among the 30 most popular stocks among hedge funds (click for Q3 rankings and see the video below for Q2 rankings). GTLS was in 19 hedge funds' portfolios at the end of September. There were 24 hedge funds in our database with GTLS holdings at the end of the previous quarter.
Video: Click the image to watch our video about the top 5 most popular hedge fund stocks.
In the 21st century investor’s toolkit there are a lot of gauges market participants can use to evaluate their holdings. A couple of the less utilized gauges are hedge fund and insider trading signals. Our experts have shown that, historically, those who follow the best picks of the best investment managers can outclass the broader indices by a very impressive amount (see the details here).
[caption id="attachment_26092" align="aligncenter" width="482"]
Joel Greenblatt of Gotham Asset 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 go over the recent hedge fund action regarding Chart Industries, Inc. (NASDAQ:GTLS).
How have hedgies been trading Chart Industries, Inc. (NASDAQ:GTLS)?
At Q3's end, a total of 19 of the hedge funds tracked by Insider Monkey were long this stock, a change of -21% from the second quarter of 2019. On the other hand, there were a total of 18 hedge funds with a bullish position in GTLS a year ago. So, let's see which hedge funds were among the top holders of the stock and which hedge funds were making big moves.
Among these funds, Citadel Investment Group held the most valuable stake in Chart Industries, Inc. (NASDAQ:GTLS), which was worth $78.2 million at the end of the third quarter. On the second spot was Fisher Asset Management which amassed $62.4 million worth of shares. Millennium Management, SIR Capital Management, and Alyeska Investment Group were also very fond of the stock, becoming one of the largest hedge fund holders of the company. In terms of the portfolio weights assigned to each position SIR Capital Management allocated the biggest weight to Chart Industries, Inc. (NASDAQ:GTLS), around 4.72% of its 13F portfolio. Yaupon Capital is also relatively very bullish on the stock, designating 4.07 percent of its 13F equity portfolio to GTLS.