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.

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