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BofA analysts listed the S&P 500 (SP500) stocks with the highest net relative exposure by hedge funds.
The net exposure of hedge funds, according to a BofA report, is defined as their reported long exposure minus their estimated short exposure.
Analysts estimate that 85% of total short interest in S&P 500 (SP500) stocks come from hedge funds.
These are the top 20 S&P 500 (SP500) stocks by hedge fund net relative exposure, as of February:
- Incyte (INCY) – HF net relative weight: 40.63
- Bath & Body Works Inc. (BBWI) – HF net relative weight: 30.59
- Invesco Ltd. (IVZ) – HF net relative weight: 17.24
- Universal Health Services Inc. (UHS) – HF net relative weight: 16.72
- Western Digital (WDC) – HF net relative weight: 15.95
- Expedia Inc. (EXPE) – HF net relative weight: 15.86
- Lamb Weston Holdings Inc. (LW) – HF net relative weight: 15.17
- Qorvo Inc. (QRVO) – HF net relative weight: 13.98
- NiSource Inc. (NI) – HF net relative weight: 13.76
- TransDigm Group Inc. (TDG) – HF net relative weight: 12.44
- Caesars Entertainment Inc. (CZR) – HF net relative weight: 11.88
- Pioneer Natural Resources (PXD) – HF net relative weight: 10.85
- Hess (HES) – HF net relative weight: 10.55
- Nasdaq Inc. (NDAQ) – HF net relative weight: 10.44
- Dollar Tree Inc. (DLTR) – HF net relative weight: 10.41
- Everest Group (EG) – HF net relative weight: 10.29
- PTC Inc. (PTC) – HF net relative weight: 10.21
- Hilton Worldwide Holdings Inc. (HLT) – HF net relative weight: 9.98
- Bio-Rad Laboratories Inc. (BIO) – HF net relative weight: 9.58
- VeriSign Inc. (VRSN) – HF net relative weight: 9.44
