Here Are 50 Stocks Hedge Funds Are Shorting Like Crazy

It’s been tough being short in this stock market that only seems to be going up.

However, the big hedge funds nevertheless see plenty of stock with more downside than upside.

In its latest quarterly Hedge Fund Trend Monitor report, Goldman Sachs analysts identify the 50 stocks that make up their “Very Important Short Positions” for hedge funds list.

These are the most heavily shorted stocks based on the dollar value of the short interest as of Oct. 31, 2014.

The top five stocks are AT&T, Intel, Gilead Sciences, Disney, and ExxonMobil.

Consolidated Edison

Ticker: ED

Sector: Multi-utilities

Value of short interest: $US1.2 billion

Short interest as a % of Float: 6%

No. of funds with stock as Top 10 holding: 1

Avg. portfolio weight when stock ranks among Top 10 holdings: 4%

Recent news: Consolidated Edison director Kevin Burke sold 160,000 shares of the company's stock November 14.

Source: Goldman Sachs

McDonald's Corp.

Ticker: MCD

Sector: Restaurants

Value of short interest: $US1.2 billion

Short interest as a % of Float: 1%

No. of funds with stock as Top 10 holding: 6

Avg. portfolio weight when stock ranks among Top 10 holdings: 6%

Recent news: Amid declining sales, McDonald's announced changes to its restaurants beginning in January, including 'build-your-burger' kiosks that will be launched in Australia.

Source: Goldman Sachs

CVS Health Corp.

Ticker: CVS

Sector: Drug Retail

Value of short interest: $US1.2 billion

Short interest as a % of Float: 1%

No. of funds with stock as Top 10 holding: 5

Avg. portfolio weight when stock ranks among Top 10 holdings: 5%

Recent news: A Morgan Stanley analyst said CVS' retail earnings could rise as much as 6% from its plan to charge extra on prescriptions that come in through its new network of pharmacies that sell tobacco.

Source: Goldman Sachs

United Parcel Service

Ticker: UPS

Sector: Air Freight & Logistics

Value of short interest: $US1.3 billion

Short interest as a % of Float: 2%

No. of funds with stock as Top 10 holding: 3

Avg. portfolio weight when stock ranks among Top 10 holdings: 4%

Recent news: UPS CEO David Abney said the company would increase shipping costs for customers this holiday season if there's an unexpected surge in packages.

Source: Goldman Sachs

Whole Foods Market

Ticker: WFM

Sector: Food Retail

Value of short interest: $US1.3 billion

Short interest as a % of Float: 9%

No. of funds with stock as Top 10 holding: 6

Avg. portfolio weight when stock ranks among Top 10 holdings: 7%

Recent news: Whole Foods saw record sales in the fourth quarter and fiscal 2014, as well as mid to upper single-digit earnings per share growth.

Source: Goldman Sachs

Home Depot Inc.

Ticker: HD

Sector: Home Improvement Retail

Value of short interest: $US1.3 billion

Short interest as a % of Float: 1%

No. of funds with stock as Top 10 holding: 7

Avg. portfolio weight when stock ranks among Top 10 holdings: 5%

Recent news: Home Depot's earnings were strong in the third quarter despite a data breach that could cost the retailer up to $US34 million.

Source: Goldman Sachs

Accenture

Ticker: ACN

Sector: IT Consulting & Other Services

Value of short interest: $US1.3 billion

Short interest as a % of Float: 3%

No. of funds with stock as Top 10 holding: 2

Avg. portfolio weight when stock ranks among Top 10 holdings: 9%

Recent news: Accenture and SAP announced an application to manage upstream operations for oil and gas companies.

Source: Goldman Sachs

Merck & Co. Inc.

Ticker: MRK

Sector: Pharmaceuticals

Value of short interest: $US1.3 billion

Short interest as a % of Float: 1%

No. of funds with stock as Top 10 holding: 8

Avg. portfolio weight when stock ranks among Top 10 holdings: 4%

Recent news: Merck is in talks with a smaller company to possibly produce an Ebola vaccine.

Source: Goldman Sachs

Schlumberger

Ticker: SLB

Sector: Oil & Gas Equipment & Services

Value of short interest: $US1.4 billion

Short interest as a % of Float: 1%

No. of funds with stock as Top 10 holding: 6

Avg. portfolio weight when stock ranks among Top 10 holdings: 4%

Recent news: The proposed merger between Halliburton and Baker Hughes threatens Schlumberger's market position in North America and internationally.

Source: Goldman Sachs

Express Scripts Holding

Ticker: ESRX

Sector: Health Care Services

Value of short interest: $US1.4 billion

Short interest as a % of Float: 2%

No. of funds with stock as Top 10 holding: 11

Avg. portfolio weight when stock ranks among Top 10 holdings: 5%

Recent news: Warren Buffett's Berkshire Hathaway recently bought 449,489 shares of Express Scripts.

Source: Goldman Sachs

SanDisk Corp.

Ticker: SNDK

Sector: Technology Hardware Storage & Peripherals

Value of short interest: $US1.4 billion

Short interest as a % of Float: 7%

No. of funds with stock as Top 10 holding: 11

Avg. portfolio weight when stock ranks among Top 10 holdings: 7%

Recent news: SanDisk's earnings per share fell 7.6% in the most recent quarter compared to the previous one.

Source: Goldman Sachs

Celgene Corp.

Ticker: CELG

Sector: Biotechnology

Value of short interest: $US1.4 billion

Short interest as a % of Float: 2%

No. of funds with stock as Top 10 holding: 9

Avg. portfolio weight when stock ranks among Top 10 holdings: 9%

Recent news: The company's third-quarter profit rose 37% following an increase in sales of its flagship drug.

Source: Goldman Sachs

M&T Bank Corp.

Ticker: MTB

Sector: Regional Banks

Value of short interest: $US1.5 billion

Short interest as a % of Float: 9%

No. of funds with stock as Top 10 holding: 0

Avg. portfolio weight when stock ranks among Top 10 holdings: NM

Recent news: The company was ranked 6th nationally in the list of best lenders of federally-guaranteed small business loans.

Source: Goldman Sachs

WellPoint Inc.

Ticker: WLP

Sector: Managed Health Care

Value of short interest: $US1.5 billion

Short interest as a % of Float: 4%

No. of funds with stock as Top 10 holding: 9

Avg. portfolio weight when stock ranks among Top 10 holdings: 8%

Recent news: WellPoint raised its earnings forecast to $US8.75 to $US8.85 a share this year, up from more than $US8.60, as Medicaid enrollment grows.

Source: Goldman Sachs

Texas Instruments

Ticker: TXN

Sector: Semiconductors

Value of short interest: $US1.5 billion

Short interest as a % of Float: 3%

No. of funds with stock as Top 10 holding: 0

Avg. portfolio weight when stock ranks among Top 10 holdings: NM

Recent news: Texas instruments is building a 300mm wafer bumping facility to expand its capacity in Chengdu, China.

Source: Goldman Sachs

Regeneron Pharmaceuticals

Ticker: REGN

Sector: Biotechnology

Value of short interest: $US1.5 billion

Short interest as a % of Float cap: 5%

No. of funds with stock as Top 10 holding: 1

Avg. portfolio weight when stock ranks among Top 10 holdings: 2%

Recent news: The FDA granted Breakthrough Therapy designation to a Regeneron drug that treats adults with moderate-to-severe atopic dermatitis (AD).

Source: Goldman Sachs

NextEra Energy Inc.

Ticker: NEE

Sector: Energy Utilities

Value of short interest: $US1.6 billion

Short interest as a % of Float: 4%

No. of funds with stock as Top 10 holding: 9

Avg. portfolio weight when stock ranks among Top 10 holdings: 7%

Recent news: NextEra's revenue grew 5.9% in the third quarter.

Source: Goldman Sachs

Applied Materials

Ticker: AMAT

Sector: Semiconductor Equipment

Value of short interest: $US1.6 billion

Short interest as a % of Float: 6%

No. of funds with stock as Top 10 holding: 6

Avg. portfolio weight when stock ranks among Top 10 holdings: 5%

Recent news: Its Q4 profits jumped 58% compared to last year.

Source: Goldman Sachs

E. I. du Pont and Co.

Ticker: DD

Sector: Diversified Chemicals

Value of short interest: $US1.7 billion

Short interest as a % of Float: 3%

No. of funds with stock as Top 10 holding: 4

Avg. portfolio weight when stock ranks among Top 10 holdings: 4%

Recent news: DuPont will sell its land management and crop-production assets to Bayer next year.

Source: Goldman Sachs

ConocoPhillips

Ticker: COP

Sector: Oil & Gas Exploration & Production

Value of short interest: $US1.7 billion

Short interest as a % of Float: 2%

No. of funds with stock as Top 10 holding: 4

Avg. portfolio weight when stock ranks among Top 10 holdings: 4%

Recent news: ConocoPhillips and partnering companies recently discovered a second oil deposit in an offshore well near Senegal.

Source: Goldman Sachs

3M Co.

Ticker: COP

Sector: Oil & Gas Exploration & Production

Value of short interest: $US1.7 billion

Short interest as a % of Float: 2%

No. of funds with stock as Top 10 holding: 4

Avg. portfolio weight when stock ranks among Top 10 holdings: 4%

Recent news: 3M's profit rose 5.9% in the third quarter.

Source: Goldman Sachs

Coca-Cola Co.

Ticker: KO

Sector: Soft Drinks

Value of short interest: $US1.7 billion

Short interest as a % of Float: 1%

No. of funds with stock as Top 10 holding: 3

Avg. portfolio weight when stock ranks among Top 10 holdings: 4%

Recent news: Coca-Cola will close its recycling division by the end of 2014.

Source: Goldman Sachs

Amgen Inc.

Ticker: AMGN

Sector: Biotechnology

Value of short interest: $US1.8 billion

Short interest as a % of Float: 1%

No. of funds with stock as Top 10 holding: 6

Avg. portfolio weight when stock ranks among Top 10 holdings: 6%

Recent news: Amgen cut 1,100 jobs in October as part of an effort to boost its share price, bringing the total number of cuts this year to about 4,000, or 20% of its workforce.

Source: Goldman Sachs

Cisco Systems Inc.

Ticker: CSCO

Sector: Communications Equipment

Value of short interest: $US1.8 billion

Short interest as a % of Float: 1%

No. of funds with stock as Top 10 holding: 9

Avg. portfolio weight when stock ranks among Top 10 holdings: 4%

Recent news: Cisco announced it expects to pay $US188 million to Rockstar to settle patent lawsuits.

Source: Goldman Sachs

Eli Lilly & Co.

Ticker: LLY

Sector: Pharmaceuticals

Value of short interest: $US1.8 billion

Short interest as a % of Float: 3%

No. of funds with stock as Top 10 holding: 2

Avg. portfolio weight when stock ranks among Top 10 holdings: 5%

Recent news: The company's third quarter revenue fell 16% due to expired US patents for two of its drugs.

Source: Goldman Sachs

Caterpillar Inc.

Ticker: CAT

Sector: Construction Machinery & Heavy Trucks

Value of short interest: $US1.8 billion

Short interest as a % of Float: 3%

No.of funds with stock as Top 10 holding: 2

Avg. portfolio weight when stock ranks among Top 10 holdings: 2%

Recent news: Caterpillar's machine sales worldwide fell 9% during the three-month period ended in October compared to last year.

Source: Goldman Sachs

Pfizer Inc.

Ticker: PFE

Sector: Pharmaceuticals

Value of short interest: $US1.9 billion

Short interest as a % of Float: 1%

No. of funds with stock as Top 10 holding: 15

Avg. portfolio weight when stock ranks among Top 10 holdings: 5%

Recent news: Pfizer announced an $US11 billion-share buyback after ending a deal to acquire AstraZeneca Plc earlier this year.

Source: Goldman Sachs

Wells Fargo & Co.

Ticker: WFC

Sector: Diversified Banks

Value of short interest: $US1.9 billion

Short interest as a % of Float: 1%

No. of funds with stock as Top 10 holding: 15

Avg. portfolio weight when stock ranks among Top 10 holdings: 5%

Recent news: Wells Fargo will cut rates on student loans to as low as 1% for qualified buyers

Source: Goldman Sachs

General Electric

Ticker: GE

Sector: Industrial Conglomerates

Value of short interest: $US1.9 billion

Short interest as a % of Float: 1%

No. of funds with stock as Top 10 holding: 6

Avg. portfolio weight when stock ranks among Top 10 holdings: 5%

Recent news: General Electric appointed four new vice-presidents November 21.

Source: Goldman Sachs

Chevron Corp.

Ticker: CVX

Sector: Integrated Oil & Gas

Value of short interest: $US1.9

Short interest as a % of Float: 1%

No. of funds with stock as Top 10 holding: 3

Avg. portfolio weight when stock ranks among Top 10 holdings: 3%

Recent news: An oil well in the Gulf of Mexico that Chevron started building in 2011 began oil and gas production mid-November.

Source: Goldman Sachs

Boeing Co.

Ticker: BA

Sector: Aerospace & Defence

Value of short interest: $US2.0 billion

Short interest as a % of Float: 2%

No. of funds with stock as Top 10 holding: 5

Avg. portfolio weight when stock ranks among Top 10 holdings: 5%

Recent news: Kuwait Air is buying 10 Boeing jets worth $US3.3 billion

Source: Goldman Sachs

Verizon Communications

Ticker: VZ

Sector: Integrated Telecommunication Services

Value of short interest: $US2.0 billion

Short interest as a % of Float cap: 1%

No. of funds with stock as Top 10 holding: 7

Avg. portfolio weight when stock ranks among Top 10 holdings: 4%

Recent news: Verizon opened its largest store in the country -- a 10,000 square foot-Destination Store in Chicago -- in November.

Source: Goldman Sachs

Southern Co.

Ticker: SO

Sector: Electric Utilities

Value of short interest: $US2.1 billion

Short interest as a % of Float: 5%

No. of funds with stock as Top 10 holding: 0

Avg. portfolio weight when stock ranks among Top 10 holdings: NM

Recent news: Southern Co. posted a 6.4% revenue increase in the third quarter.

Source: Goldman Sachs

Procter & Gamble

Ticker: PG

Sector: Household Products

Value of short interest: $US2.4 billion

Short interest as a % of Float: 1%

No. of funds with stock as Top 10 holding: 1

Avg. portfolio weight when stock ranks among Top 10 holdings: 3%

Recent news: Warren Buffett's Berkshire Hathaway bought P&G's Duracell business for $US4.7 billion of stock.

Source: Goldman Sachs

salesforce.com Inc.

Ticker: CRM

Sector: Application Software

Value of short interest: $US2.4 billion

Short interest as a % of Float: 6%

No. of funds with stock as Top 10 holding: 9

Avg. portfolio weight when stock ranks among Top 10 holdings: 6%

Recent news: The company's third-quarter revenue rose 29%, driven by its push into foreign markets.

Source: Goldman Sachs

Amazon.com Inc.

Ticker: AMZN

Sector: Internet Retail

Value of short interest: $US2.4 billion

Short interest as a % of Float: 2%

No. of funds with stock as Top 10 holding: 10

Avg. portfolio weight when stock ranks among Top 10 holdings: 5%

Recent news: Amazon leased 370,000 square feet in midtown Madhattan for its first brick-and-mortar store.

Source: Goldman Sachs

Johnson & Johnson

Ticker: JNJ

Sector: Pharmaceuticals

Value of short interest: $US2.7 billion

Short interest as a % of Float: 1%

No. of funds with stock as Top 10 holding: 10

Avg. portfolio weight when stock ranks among Top 10 holdings: 6%

Recent news: Johnson & Johnson will start testing an ebola vaccine in January.

Source: Goldman Sachs

IBM

Ticker: IBM

Sector: IT Consulting & Other Services

Value of short interest: $US3.5 billion

Short interest as a % of Float: 3%

No. of funds with stock as Top 10 holding: 2

Avg. portfolio weight when stock ranks among Top 10 holdings: 12%

Recent news: The company recently launched IBM Verse, an email app that integrates social media, geared towards businesses.

Source: Goldman Sachs

Exxon Mobil Corp.

Ticker: XOM

Sector: Integrated Oil & Gas

Value of short interest: $US4.1 billion

Short interest as a % of Float: 1%

No. of funds with stock as Top 10 holding: 2

Avg. portfolio weight when stock ranks among Top 10 holdings: 4%

Recent news: Exxon slipped into third place after Microsoft surpassed it as the largest-cap company in the US.

Source: Goldman Sachs

Walt Disney

Ticker: DIS

Sector: Movies & Entertainment

Value of short interest: $US4.3 billion

Short interest as a % of Float: 3%

No. of funds with stock as Top 10 holding: 10

Avg. portfolio weight when stock ranks among Top 10 holdings: 4%

Recent news: Disney's earnings rose 7.5% in the fourth quarter, boosted by the better performance of its studio entertainment and media networks divisions.

Source: Goldman Sachs

Gilead Sciences

Ticker: GILD

Sector: Biotechnology

Value of short interest: $US5.8 billion

Short interest as a % of Float: 3%

No. of funds with stock as Top 10 holding: 13

Avg. portfolio weight when stock ranks among Top 10 holdings: 6%

Recent news: Gilead recently announced the pricing of senior unsecured notes in an aggregate principal amount of $US4 billion, rated A by Standard & Poor's.

Source: Goldman Sachs

Intel Corp.

Ticker: INTC

Sector: Semiconductors

Value of short interest: $US7.0 billion

Short interest as a % of Float: 4%

No. of funds with stock as Top 10 holding: 7

Avg. portfolio weight when stock ranks among Top 10 holdings: 8%

Recent news: Intel projected more growth in 2015 at its annual analyst meeting amid a rebounding market for PCs.

Source: Goldman Sachs

AT&T Inc.

Ticker: T

Sector: Integrated Telecommunication Services

Value of short interest: $US8.5 billion

Short interest as a % of Float: 5%

No. of funds with stock as Top 10 holding: 5

Avg. portfolio weight when stock ranks among Top 10 holdings: 5%

Recent news: AT&T will acquire Mexican wireless company Lucacell for $US2.5 billion in a bid to expand its business outside the United States.

Source: Goldman Sachs

Hedge funds are long these stocks

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