GOLDMAN: Here Are 23 Stocks Hedge Funds Are Shorting Like Crazy

Vulture

Even with stock market climbing to record highs, traders continue to target stocks to short.

Especially the traders at Wall Street’s big hedge funds.

Goldman Sachs’ new Hedge Fund Monitor report, which looks at 783 funds with nearly $US2 trillion in gross equity positions, lists the 50 favourite short positions among the world’s largest fund managers.

Near the top of the list are companies that have been around forever like General Electric and Coca-Cola. The big tech companies are among the stocks traders are betting will go down.

We’ve ranked the top 23 by overall dollar value of short interest.

Check it out.

[slideshow]
[slide
permalink=”23-dow-chemical-1″
title=”23. Dow Chemical”
content=”Ticker: DOW

Value of short interest: $US1.5 billion

YTD Return: 8%

Sector: Industrial products

Dan Loeb’s Third Point, which has made Dow its top holding, is recommending the firm spin off commodity chemicals and plastics as a separate company, according to Bloomberg.

Source: Goldman Sachs”
image=”http://static.businessinsider.com/image/53075201ecad0468497100f8″
caption=””
credit_href=”http://www.flickr.com/photos/royluck/7287161712/sizes/k/in/photostream/”
]
[slide
permalink=”22-chevron-2″
title=”22. Chevron”
content=”Ticker: CVX

Value of short interest: $US1.5 billion

YTD Return: -8%

Sector: Energy

Recent Chevron earnings fell more than 30% on lower production, according to WSJ.

Source: Goldman Sachs”
image=”http://static.businessinsider.com/image/5178245a6bb3f7c376000002″
caption=””
credit_href=””
]
[slide
permalink=”21-directv-3″
title=”21. DIRECTV”
content=”Ticker: DTV

Value of short interest: $US1.5 billion

YTD Return: 9%

Sector: TV

U.S. subscriber growth slowed by 10% year-over-year for the most recent quarter, according to Reuters.

Source: Goldman Sachs”
image=”http://static.businessinsider.com/image/525424246bb3f7493a2c9bc0″
caption=””
credit_href=”http://www.flickr.com/photos/cantoni/2265630303/”
]
[slide
permalink=”20-target-4″
title=”20. Target”
content=”Ticker: TGT

Value of short interest: $US1.5 billion

YTD Return: -10%

Sector: Retail

2014 earnings are expected to decline 33% in 2014, according to Businessweek.

Source: Goldman Sachs”
image=”http://static.businessinsider.com/image/530753fbeab8eacf327100eb”
caption=””
credit_href=””
]
[slide
permalink=”19-procter-and-gamble-5″
title=”19. Procter & Gamble”
content=”Ticker: PG

Value of short interest: $US1.5 billion

YTD Return: -3%

Sector: Household goods

P&G sales have stalled in developed markets, according to Reuters.

Source: Goldman Sachs”
image=”http://static.businessinsider.com/image/51155b45eab8ea1e1f000018″
caption=””
credit_href=”http://www.dailyadvance.com/node/362232″
]
[slide
permalink=”18-pfizer-6″
title=”18. Pfizer”
content=”Ticker: PFE

Value of short interest: $US1.5 billion

YTD Return: 4%

Sector: Drugs

Patents on Lipitor and Viagra are expiring, which is likely to pressure growth, according to Forbes.

Source: Goldman Sachs”
image=”http://static.businessinsider.com/image/5307578e69bedd046b10c7ae”
caption=””
credit_href=””
]
[slide
permalink=”17-general-dynamics-7″
title=”17. General Dynamics”
content=”Ticker: GD

Value of short interest: $US1.5 billion

YTD Return: 14%

Sector: Aerospace and defence

Orders from the U.S. army are slowing, according to BizJournals.

Source: Goldman Sachs”
image=”http://static.businessinsider.com/image/51d1cd9269bedd6b22000008″
caption=””
credit_href=””
]
[slide
permalink=”16-fedex-8″
title=”16. FedEx”
content=”Ticker: FDX

Value of short interest: $US1.6 billion

YTD Return: -5%

Sector: Logistics

Sales in express shipping, FedEx’s largest unit, have slowed along as consumers reduce spending, according to Reuters.

Source: Goldman Sachs”
image=”http://static.businessinsider.com/image/53075a56ecad046a65710102″
caption=””
credit_href=”http://www.youtube.com/watch?v=-P2SaxyMrKA”
]
[slide
permalink=”15-wells-fargo-9″
title=”15. Wells Fargo”
content=”Ticker: WFC

Value of short interest: $US1.7 billion

YTD Return: 1%

Sector: Finance

Loan growth has slowed as interest rates have creeped up, according to the New York Times.

Source: Goldman Sachs”
image=”http://static.businessinsider.com/image/53075b586bb3f75b4a14771c”
caption=””
credit_href=””
]
[slide
permalink=”14-coca-cola-co-10″
title=”14. Coca-Cola Co.”
content=”Ticker: KO

Value of short interest: $US1.7 billion

YTD Return: -8%

Sector: Food and drink

Revenues have slipped as soda sales have stopped growing, according to the Motley Fool.

Source: Goldman Sachs”
image=”http://static.businessinsider.com/image/53075c2decad048e6c7100fd”
caption=””
credit_href=””
]
[slide
permalink=”13-general-electric-11″
title=”13. General Electric”
content=”Ticker: GE

Value of short interest: $US1.8 billion

YTD Return: -9%

Sector: Conglomerate

GE has failed to reach its goal of improving operating profit margins in its industrial businesses, according to WSJ.

Source: Goldman Sachs”
image=”http://static.businessinsider.com/image/52d42648ecad04a74dbd2f1e”
caption=”GE Chairman and CEO Jeffrey Immelt delivers opening remarks for an event in D.C.”
credit_href=””
]
[slide
permalink=”12-wal-mart-12″
title=”12. Wal-Mart”
content=”Ticker: WMT

Value of short interest: $US1.9 billion

YTD Return: -7%

Sector: Retail

Wal-mart is reevaluating its China strategy after it was forced to close several underperforming stores, according to Reuters.

Source: Goldman Sachs”
image=”http://static.businessinsider.com/image/53075dd3eab8eafd477100f8″
caption=””
credit_href=”http://www.flickr.com/photos/koonisutra/3457022135/”
]
[slide
permalink=”11-netflix-13″
title=”11. Netflix”
content=”Ticker: NFLX

Value of short interest: $US2.1 billion

YTD Return: 20%

Sector: Entertainment

The company remains ‘somewhat thinly capitalised’ according to Forbes. There’s also concern they’re losing market share to competitors like Amazon Prime.

Source: Goldman Sachs”
image=”http://static.businessinsider.com/image/53075e36ecad042f7e7100f8″
caption=””
credit_href=””
]
[slide
permalink=”10-johnson-and-johnson-14″
title=”10. Johnson & Johnson”
content=”Ticker: JNJ

Value of short interest: $US2.2 billion

YTD Return: 1%

Sector: Consumer goods

Sales among traditional products have ground to a halt, and the company is looking to acquire its way out of the problem, according to Zacks.

Source: Goldman Sachs”
image=”http://static.businessinsider.com/image/53075fa569bedd690e10c7a5″
caption=””
credit_href=”http://commons.wikimedia.org/wiki/File:BandAid.jpg”
]
[slide
permalink=”9-walt-disney-15″
title=”9. Walt Disney”
content=”Ticker: DIS

Value of short interest: $US2.5 billion

YTD Return: 4%

Sector: Entertainment

Television revenue has declined, according to the New York Times.

Source: Goldman Sachs”
image=”http://static.businessinsider.com/image/53079507eab8eaa8167100ee”
caption=””
credit_href=”http://www.flickr.com/photos/[email protected]/12112160424/”
]
[slide
permalink=”8-salesforcecom-16″
title=”8. salesforce.com”
content=”Ticker: CRM

Value of short interest: $US2.9 billion

YTD Return: 15%

Sector: Customer relationship management

Revenue has flagged in core operations, according to WSJ.

Source: Goldman Sachs”
image=”http://static.businessinsider.com/image/52f2ccdc69bedd01554c8cde”
caption=””
credit_href=”http://www.flickr.com/photos/dellphotos/6243635473/in/photolist-avJgit-avLVn3-d9W77e-avSRm7-avFDqB-awQK5x-awQJWn-9sLAc9-9sHzU4-9sLAb5-9sHzUP-9sHzZ2-9sLAbA-9sLA3h-9sLA8Y-9sHzXr-9sLA8m-9sHA3e-9sLAab-9sLAd9-9sHzXX-9sLAcA-9sLA5b-9sLA5G-9sHzT8-9sLA9L-77fcxz-avSLFC-avQaX8-awne65-awjANn-awjsVc-gdmCvs-awTsdJ-83huAF-7eJKcT-avLWLs-d9UZ4c-d9UZnb-d9UZu1-d9UZ2k-d9UZzw-d9UZi3-d9UZ6V-d9Vr39-d9UZyq-d9UZj7-fND4Ug-fNUpYo-fNBPya-fNBRfM/”
]
[slide
permalink=”7-emc-17″
title=”7. EMC”
content=”Ticker: EMC

Value of short interest: $US3.4 billion

YTD Return: 2%

Sector: Computer storage

EMC plans a restructuring at some point in 2014, according to ZDNet. The firm employs 60,000 people.

Source: Goldman Sachs”
image=”http://static.businessinsider.com/image/53076277ecad0430067100fc”
caption=””
credit_href=””
]
[slide
permalink=”6-caterpillar-18″
title=”6. Caterpillar”
content=”Ticker: CAT

Value of short interest: $US3.6 billion

YTD Return: 8%

Sector: Construction equipment

Sales in Asia have slowed, according to the Motley Fool.

Source: Goldman Sachs”
image=”http://static.businessinsider.com/image/51d4831169bedddb7c000005″
caption=””
credit_href=””
]
[slide
permalink=”5-ibm-19″
title=”5. IBM”
content=”Ticker: IBM

Value of short interest: $US4.7 billion

YTD Return: -1%

Sector: Tech

IBM recently announced it is is taking a $US1 billion restructuring charge, and plans to lay off workers, according to Barron’s.

Source: Goldman Sachs”
image=”http://static.businessinsider.com/image/51ad0b6f6bb3f7946a000013″
caption=””
credit_href=”http://commons.wikimedia.org/wiki/File:IBM_TypeWriter.JPG”
]
[slide
permalink=”4-exxon-mobil-20″
title=”4. Exxon Mobil”
content=”Ticker: XOM

Value of short interest: $US4.7 billion

YTD Return: -4%

Sector: Energy

Exxon’s recent earnings declined on lower oil prices, declining production and soaring expenses, according to the New York Times.

Source: Goldman Sachs”
image=”http://static.businessinsider.com/image/530794f0eab8ea661a7100f0″
caption=””
credit_href=””
]
[slide
permalink=”3-verizon-21″
title=”3. Verizon”
content=”Ticker: VZ

Value of short interest: $US4.9 billion

YTD Return: -2%

Sector: Telecom

Verizon’s Fios sales are slowing in the face of big cable deals, according to the Motley Fool.

Source: Goldman Sachs”
image=”http://static.businessinsider.com/image/51b6716c69bedd4c3400000c”
caption=””
credit_href=””
]
[slide
permalink=”2-att-22″
title=”2. AT&T”
content=”Ticker: T

Value of short interest: $US5 billion

YTD Return: -5%

Sector: Telecom

Subscriber growth in the most recent quarter missed estimates.

Source: Goldman Sachs”
image=”http://static.businessinsider.com/image/52a0763b6da8114e32734dbd”
caption=””
credit_href=””
]
[slide
permalink=”1-intel-23″
title=”1. Intel”
content=”Ticker: INTC

Value of short interest: $US5.1 billion

YTD Return: -4%

Sector: Computers

PC chip demand has flatlined, according to USA Today

Source: Goldman Sachs”
image=”http://static.businessinsider.com/image/51e6fb8eecad048266000021″
caption=””
credit_href=””
]
[slide
permalink=”now-check-out-the-us-20-24″
title=”Now check out the US 20…”
content=”

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credit_href=”http://www.flickr.com/photos/usinterior/9133311959/sizes/o/in/photostream/”
]
[/slideshow]