Hedge Funds Are Crazy About SL Green Realty Corp (SLG)

With a general bullishness amongst the heavyweights, specific money managers were leading the bulls’ herd. Clinton Group, led by George Hall, created the largest position in SL Green Realty Corp (NYSE:SLG). Clinton Group had $12.5 million invested in the company at the end of the quarter. The following funds were also among the new SLG investors: Emanuel J. Friedman’s EJF Capital, Alec Litowitz and Ross Laser’s Magnetar Capital, and John Overdeck and David Siegel’s Two Sigma Advisors.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as SL Green Realty Corp (NYSE:SLG) but similarly valued. We will take a look at ONEOK, Inc. (NYSE:OKE), Vantiv Inc (NYSE:VNTV), Hologic, Inc. (NASDAQ:HOLX), and Textron Inc. (NYSE:TXT). This group of stocks’ market valuations match SLG’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
OKE 14 73303 -4
VNTV 27 599646 -2
HOLX 33 812836 -2
TXT 17 387650 -10

As you can see these stocks had an average of 23 hedge funds with bullish positions and the average amount invested in these stocks was $468 million. That figure was $201 million in SLG’s case. Hologic, Inc. (NASDAQ:HOLX) is the most popular stock in this table. On the other hand ONEOK, Inc. (NYSE:OKE) is the least popular one with only 14 bullish hedge fund positions. SL Green Realty Corp (NYSE:SLG) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard HOLX might be a better candidate to consider taking a long position in.

Disclosure: None