Thomas C. Ruffing

BXMT

MANAGING DIRECTOR · BLACKSTONE MORTGAGE TRUST, INC. · CIK 0001371769

FILING MIX · LIFETIME0%/100%

BUYS

SELLS

TOTAL VALUE

$43.8K

COMPANIES

ACTIVE SINCE

Feb 2020

HOLDINGS NOW

28,872

AVG SELL PX

$27.70

Trades · vs SPY

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Performance · forward returns vs SPY

11 backtested trades · 8 horizons

Forward-return performance of every backtestable P/S trade by Thomas C. Ruffing, measured at 8 horizons from 7 days to 2 years. Deduped per economic event so co-filings count once. Excess return = trade return minus SPY return over the same window.

HORIZON	TRADES	WIN RATE	INSIDER RETURN	SPY RETURN	MEAN EXCESS	MEDIAN EXCESS	T-STAT
7d	11	+45.45%	-3.22%	-0.68%	-2.54%	+0.30%	—
14d	11	+45.45%	-5.52%	-1.75%	-3.77%	-0.64%	—
30d	11	+63.64%	-5.09%	-0.20%	-4.88%	-1.06%	—
60d	11	+72.73%	-8.67%	+3.38%	-12.05%	-11.75%	—
90d	11	+36.36%	+2.08%	+7.60%	-5.52%	-3.76%	—
180d	11	+27.27%	+10.33%	+16.11%	-5.78%	+4.08%	—
1y	11	+9.09%	+29.25%	+33.85%	-4.60%	-3.15%	—
2y	11	+18.18%	+25.91%	+28.66%	-2.76%	+6.99%	—

How to read this: Insider Returnis the average raw return of the filer's trades over the horizon. SPY Return is what SPY did over those same windows — reference only, not a comparison. The headline alpha number is Mean Excess = Insider − SPY; green means the filer beat SPY, red means they trailed it. Win rate is the share of individual trades where the filer beat SPY. T-statvalues above 2 mean the alpha is unlikely to be chance given the sample size. "Pending" counts trades where the horizon hasn't elapsed yet; their stats are not included in the row average.

Holdings over time

BXMT · 28,872 shares · as of Dec 8, 2020

Trading cadence · quarterly flow

BUY ● SELL ●

2020

FLOW · 0 buys / 11 sellsCOVERAGE · 4 quarters

Form 4 filings · all activity

COMPANY	TYPE	SHARES	PRICE	VALUE	HELD AFTER	TRADE DATE	FILED
BXMT BLACKSTONE MORTGAGE TRUST, INC.	SALE Managing Director	133	$27.86	$3.7K	28,872	Dec 8, 2020	Dec 8, 2020 ↗
BXMT BLACKSTONE MORTGAGE TRUST, INC.	SALE Managing Director	132	$27.14	$3.6K	29,005	Nov 27, 2020	Dec 1, 2020 ↗
BXMT BLACKSTONE MORTGAGE TRUST, INC.	SALE Managing Director	119	$24.16	$2.9K	29,137	Nov 9, 2020	Nov 12, 2020 ↗
BXMT BLACKSTONE MORTGAGE TRUST, INC.	SALE Managing Director	134	$24.05	$3.2K	29,256	Sep 8, 2020	Sep 10, 2020 ↗
BXMT BLACKSTONE MORTGAGE TRUST, INC.	SALE Managing Director	132	$23.64	$3.1K	29,390	Aug 27, 2020	Aug 31, 2020 ↗
BXMT BLACKSTONE MORTGAGE TRUST, INC.	SALE Managing Director	130	$24.34	$3.2K	29,522	Aug 10, 2020	Aug 12, 2020 ↗
BXMT BLACKSTONE MORTGAGE TRUST, INC.	SALE Managing Director	126	$28.80	$3.6K	29,652	Jun 8, 2020	Jun 10, 2020 ↗
BXMT BLACKSTONE MORTGAGE TRUST, INC.	SALE Managing Director	253	$25.79	$6.5K	29,778	May 27, 2020	May 29, 2020 ↗
BXMT BLACKSTONE MORTGAGE TRUST, INC.	SALE Managing Director	135	$24.32	$3.3K	30,031	May 11, 2020	May 13, 2020 ↗
BXMT BLACKSTONE MORTGAGE TRUST, INC.	SALE Managing Director	137	$35.22	$4.8K	30,166	Mar 9, 2020	Mar 11, 2020 ↗
BXMT BLACKSTONE MORTGAGE TRUST, INC.	SALE Managing Director	152	$38.92	$5.9K	30,303	Feb 10, 2020	Feb 12, 2020 ↗

Other insiders · BXMT

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About this filer

CIK 0001371769

ROLE

Managing Director

PRIMARY

BXMT

COMPANIES

ACTIVE SINCE

Feb 2020

MARKETPEEL · /INSIDER/0001371769DATA · SEC EDGAR · FORM 4 · CONSOLIDATED TAPE

Thomas C. Ruffing

The morning brief, before the bell.