Stocks hedge funds are exiting most
The securities that the most tracked managers closed out of entirely last quarter, ranked by the number of funds that fully exited — a read on where institutional conviction is breaking down, often around mergers, buyouts and broken theses. The dollar figure is the total last-reported value of those exited stakes.
Count of distinct managers who held the stock in their prior 13F but report no position in their latest, keyed on CUSIP; dollar figure is the aggregate last-reported value of those exited stakes. Long U.S.-listed equity, up to a 45-day reporting lag; filing periods can differ by manager.
About this ranking
What counts as an “exit”?
A security present in a manager’s prior 13F but absent from their latest one — i.e. they fully closed the position. We count how many distinct tracked managers did this in each stock last quarter.
Why do acquired companies appear here?
When a company is acquired or taken private, every manager holding it is cashed out and the stock drops off their next 13F — so it shows up as a mass exit across many funds in the same quarter.
Is a wave of exits bearish?
It can signal deteriorating conviction, but exits also happen for benign reasons — mergers, index changes, fund rebalancing or profit-taking. 13F data lags up to 45 days, so it is a directional read, not a real-time alarm.