Usually means: Not protected against potential losses.
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We found 7 dictionaries that define the word unhedged:

General (7 matching dictionaries)
  1. unhedged: Merriam-Webster.com
  2. unhedged: Oxford Learner's Dictionaries
  3. unhedged: Collins English Dictionary
  4. unhedged: Wordnik
  5. unhedged: Wiktionary
  6. unhedged: Webster's 1828 Dictionary
  7. unhedged: Free Dictionary

Definitions from Wiktionary (unhedged)

adjective:  Without a hedge.
adjective:  (finance) Not hedged; not offset or counterbalanced.

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