market folly

Alex Klabin and Doug Silverman's hedge fund Senator Investment Group has filed a 13G with the SEC regarding shares of Realogy (RLGY).  Senator now owns 5.12% of the company with 7.5 million shares.

This is a sizable increase from the 4 million shares they owned at the end of the second quarter.  The filing was made due to activity on August 27th.

As of the end of Q2, some of the largest holders of RLGY shares included other prominent hedge funds such as Lone Pine Capital, Paulson & Co, Glenview Capital, Pennant Capital, and Valinor Management, among others.

For more from this fund, be sure to check out Alex Klabin on the intangibles of building a great hedge fund.

Per Google Finance, Realogy is "a franchisor of residential real estate brokerages and a provider of outsourced employee relocation, and title and settlement services in the United States. The Company has four operating segments: Real Estate Franchise Services (RFG), Company Owned Real Estate Brokerage Services (NRT), Relocation Services (Cartus), and Title and Settlement Services (TRG). The RFG segment is a franchisor of residential real estate brokerage services. The NRT segment owns and operates a residential real estate brokerage business in the United States. The Cartus segment provides outsourced employee relocation services. The TRG segment provides full-service title and settlement services to its clients. The Company's portfolio of brokerage brands includes Century 21, Coldwell Banker, Coldwell Banker Commercial, ERA, Sotheby's International Realty, Better Homes and Gardens Real Estate, The Corcoran Group, ZipRealty and Citi Habitats."