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And the faster funds' positions shrank the more shares they had to sell in order to raise cash.
Most fund managers also remain bearish on the overall stock market, with a majority of funds positioned for sharp swings in both directions.
Along with rising stock prices, stock splits and changes in the company weightings in the indexes have altered the funds' positions.
(Many of the hedge funds' positions were reported as of June 30, so some of the data could be out of date).
According to TrimTabs, a funds researcher, hedge funds withdrew $3.5 billion in April and industry consultants say that many funds — positioned in July for a continuum of bad market news — were caught by surprise when the market rallied.
Backers of the site, including J. P. Morgan, Merrill Lynch and Credit Suisse First Boston, have already said they will post updated net asset values for their funds after each trade but will not disclose the funds' positions.
Because he has been unwinding his funds' positions over time, he said that 75percentt of the refund would be in cash and an additional 5percentt in 11 stocks that Tiger still owns.
To accomplish this, the foundation funds positions, which are tenured from the start, at local universities and nonprofit research centers.
In a statement, Glitnir said its funding position had deteriorated in a matter of days.
"Some time shortly thereafter, we will double up on our hedge fund position".
Lord Hollick also warned that the BBC's unique funding position made mergers between other broadcasters inevitable.
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