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Professional money managers have been earning some deserved criticism in 2013. While this year has been a blockbuster year for stocks, fund managers weren't convinced at the beginning of the year -- and far too many jumped back out of stocks after the temporary dip in the middle of the summer. That means that most funds are missing their benchmarks right now.
And with year-end just two and a half months away, they're reaching for performance in the final quarter of the year.
In my view, that means that a lot of the names they're throwing away are quality that they know won't close the gap on the market. But with hundreds of billions of dollars coming out of quality to chase higher-risk stocks this quarter, it could mean that there are some bargains in the names the pros hate.
>>5 Stocks Hedge Funds Hate This Fall
Luckily for us, we can get a glimpse at exactly
which stocks top hedge funds' hate lists by looking at 13F statements. Institutional investors with more than $100 million in assets are required to file a 13F, a form that breaks down their stock positions for public consumption.
From hedge funds to mutual funds to insurance companies, any professional investors who manage more than that $100 million watermark are required to file a 13F. So far, just 130 funds filed the form for the most recent quarter, so by comparing one period's filing to another, we can get a sneak peek at how early filers are moving their portfolios around.
>>5 Stocks Ready to Break Out
Without further ado, here's a look at
five stocks fund managers hate.