The 50 Stocks Hedge Funds Are Shorting Like Crazy

Melting short dark ice sculpturesREUTERS/Tobias SchwarzA woman takes pictures of ice sculptures in the shape of humans that have been placed on the steps of the music hall in Gendarmenmarkt public square in Berlin September 2, 2009.

Goldman Sachs’ ‘Hedge Fund Trend Monitor’ report is out, and as usual it includes a list of the 50 stocks most shorted by hedge funds.

The stocks listed are “not based on 13-F holdings”, nor is this a “basket of stocks most held short”, according to the report.

When compared with the median S&P 500 company, the median stock has a higher value of short interest. However, it has “similar” short interest as a per cent of float-adjusted shares.

The top five stocks are AT&T, IBM, Intel, Exxon Mobil, and Caterpillar.

AT&T

Sector: Integrated Telecommunication Services

Value of short interest (in billions): $7.0

Short interest as a % of Float cap: 4%

Number of funds with stock as Top 10 holding: 4

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

Recent news: AT&T is planning on offering the HTC One M8 for Windows soon, although prices are undisclosed.

Source: Goldman Sachs

IBM

Sector: IT Consulting & Other services

Value of short interest (in billions): $US5.2

Short interest as a % of Float cap: 3%

Number of funds with stock as Top 10 holding: 6

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

Recent news: IBM and Apple recently announced a partnership.

Source: Goldman Sachs

Intel Corp.

Sector: Semiconductors

Value of short interest (in billions): $4.6

Short interest as a % of Float cap: 3%

Number of funds with stock as Top 10 holding: 13

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

Recent news: Intel recently acquired Avago's network chip group.

Source: Goldman Sachs

Exxon Mobil Corp.

Sector: Integrated Oil & Gas

Value of short interest (in billions): $4.6

Short interest as a % of Float cap: 1%

Number of funds with stock as Top 10 holding: 4

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

Recent news: Exxon Mobil has 'canceled its exploration plans of the South Sudan', and did not 'renew its joint exploration plans with French integrated oil and gas company TOTAL S.A.'.

Source: Goldman Sachs

Caterpillar Inc.

A man looks at a Caterpillar truck at the China Coal and Mining Expo 2013 in Beijing October 22, 2013. Picture taken October 22, 2013. Picture taken October 22, 2013.

Sector: Construction Machinery & Heavy Trucks

Value of short interest (in billions): $3.8

Short interest as a % of Float cap: 6%

Number of funds with stock as Top 10 holding: 0

Average portfolio weight when stock ranks among Top 10 holdings: NM

Recent news: Caterpillar sales are falling; total machine retail sales were down 12% in May, 10% in June, and 9% in July, when comparing to 2013.

Source: Goldman Sachs

Walt Disney

Sector: Movies & Entertainment

Value of short interest (in billions): $3.3

Short interest as a % of Float cap: 2%

Number of funds with stock as Top 10 holding: 9

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

Recent news: Disney stocks were higher following the company's first attempts at promoting Star Wars episode VII.

Source: Goldman Sachs

Exelon Corp.

A car drives past the nuclear power plant in the Swiss town of Leibstadt some 50 kilometres (31 miles) north-west of Zurich March 14, 2011.

Sector: Electric utilities

Value of short interest (in billions): $2.7

Short interest as a % of Float cap: 10%

Number of funds with stock as Top 10 holding: 5

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

Recent news: Exelon and Pepco Holdings Inc. filed an application seeking approval of merger with Maryland Public Service Commission.

Source: Goldman Sachs

Wal-Mart Stores

Sector: Hypermarkets & Super Centres

Value of short interest (in billions): $2.6

Short interest as a % of Float cap: 2%

Number of funds with stock as Top 10 holding: 5

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

Recent news: Wal-Mart dropped prices of the 5S and 5C iPhones, anticipating the iPhone 6 announcement.

Source: Goldman Sachs

Chevron Corp.

Sector: Integrated Oil & Gas

Value of short interest (in billions): $2.6

Short interest as a % of Float cap: 1%

Number of funds with stock as Top 10 holding: 9

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

Recent news: Chevron's renewable energy (solar) project in Hawaii was indefinitely 'put on hold'.

Source: Goldman Sachs

Johnson & Johnson

Sector: Pharmaceuticals

Value of short interest (in billions): $2.6

Short interest as a % of Float cap: 1%

Number of funds with stock as Top 10 holding: 11

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

Recent news: Johnson & Johnson partnered up with equity fundraising platform for startups that make consumer goods, CircleUp Network Inc. in July.

Source: Goldman Sachs

Coca-Cola Co.

Sector: Soft Drinks

Value of short interest (in billions): $2.5

Short interest as a % of Float cap: 2%

Number of funds with stock as Top 10 holding: 6

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

Recent news: Coco-Cola is buying a stake in Monster.

Source: Goldman Sachs

Netflix Inc.

Sector: Internet Retail

Value of short interest (in billions): $2.4

Short interest as a % of Float cap: 10%

Number of funds with stock as Top 10 holding: 11

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

Recent news: Netflix recently partnered up with Time Warner Cable to deliver faster streaming.

Source: Goldman Sachs

Salesforce.com Inc.

Marc R. Benioff, Chairman and Chief Executive Officer of Salesforce.com, speaks during a session at the annual meeting of the World Economic Forum (WEF) in Davos January 22, 2014.

Sector: Application software

Value of short interest (in billions): $2.2

Short interest as a % of Float cap: 7%

Number of funds with stock as Top 10 holding: 5

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

Recent news: Salesforce.com has seen steady growth due to ExactTarget deal.

Source: Goldman Sachs

Target Corp.

Sector: General Merchandise Stores

Value of short interest (in billions): $2.1

Short interest as a % of Float cap: 6%

Number of funds with stock as Top 10 holding: 2

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

Recent news: Target reported a 62% drop in earnings.

Source: Goldman Sachs

Pfizer Inc.

Sector: Pharmaceuticals

Value of short interest (in billions): $2.1

Short interest as a % of Float cap: 1%

Number of funds with stock as Top 10 holding: 12

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

Recent news: Pfizer submitted a marketing application for its oncology candidate palbociclib to the FDA.

Source: Goldman Sachs

Southern Co.

Sector: Electric utilities

Value of short interest (in billions): $2.1

Short interest as a % of Float cap: 5%

Number of funds with stock as Top 10 holding: 0

Average portfolio weight when stock ranks among Top 10 holdings: NM

Recent news: Southern reported strong Q2 earnings, following higher electricity usage.

Source: Goldman Sachs

Verizon Communications

Sector: Integrated Telecommunication Services

Value of short interest (in billions): $2.0

Short interest as a % of Float cap: 1%

Number of funds with stock as Top 10 holding: 7

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

Recent news: Verizon is planning to sell $US13.3 billion of bonds for debt exchange offer to lower borrowing costs.

Source: Goldman Sachs

Procter & Gamble

Sector: Household products

Value of short interest (in billions): $1.9

Short interest as a % of Float cap: 1%

Number of funds with stock as Top 10 holding: 5

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

Recent news: Procter & Gamble is looking to divest underperforming brands, possibly including Duracell and Braun.

Source: Goldman Sachs

Merck & Co. Inc

Sector: Pharmaceuticals

Value of short interest (in billions): $1.9

Short interest as a % of Float cap: 1%

Number of funds with stock as Top 10 holding: 9

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

Recent news: The FDA approved Merck's insomnia drug, Belsomra.

Source: Goldman Sachs

ConocoPhillips

Steam rises from stacks at the Conoco-Phillips refinery in Rodeo, California.

Sector: Oil & Gas Exploration & Production

Value of short interest (in billions): $1.9

Short interest as a % of Float cap: 2%

Number of funds with stock as Top 10 holding: 4

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

Recent news: ConocoPhillips saw higher margins, following increased liquid production.

Source: Goldman Sachs

Boeing Co.

Sector: Aerospace & Defence

Value of short interest (in billions): $1.8

Short interest as a % of Float cap: 2%

Number of funds with stock as Top 10 holding: 7

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

Recent news: Boeing will increase its 737 production by 2017.

Source: Goldman Sachs

General Electric

Sector: Industrial Conglomerates

Value of short interest (in billions): $1.7

Short interest as a % of Float cap: 1%

Number of funds with stock as Top 10 holding: 10

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

Recent news: GE is considering selling its appliances business again.

Source: Goldman Sachs

UnitedHealth Group

Sector: Managed Health Care

Value of short interest (in billions): $1.7

Short interest as a % of Float cap: 2%

Number of funds with stock as Top 10 holding: 2

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

Recent news: Following declaration of quarterly dividend, UnitedHealth Group rose on Wednesday.

Source: Goldman Sachs

Mylan Inc.

Sector: Pharmaceuticals

Value of short interest (in billions): $1.6

Short interest as a % of Float cap: 9%

Number of funds with stock as Top 10 holding: 6

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

Recent news: Mylan bidding for Glaxo Mature-Drug portfolio, along with private equity firms and Indian drug makers.

Source: Goldman Sachs

SanDisk Corp.

Sector: Technology Hardware Storage & Peripherals

Value of short interest (in billions): $1.6

Short interest as a % of Float cap: 8%

Number of funds with stock as Top 10 holding: 12

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

Recent news: SanDisk announced new SanDisk Ultra II SSD with enhanced SSD Dashboard.

Source: Goldman Sachs

Bristol-Myers Squibb

Sector: Pharmaceuticals

Value of short interest (in billions): $1.6

Short interest as a % of Float cap: 2%

Number of funds with stock as Top 10 holding: 0

Average portfolio weight when stock ranks among Top 10 holdings: NM

Recent news: Bristol-Myers is working with Celgene on a cancer treatment study.

Source: Goldman Sachs

Applied Materials

Sector: Semiconductor Equipment

Value of short interest (in billions): $1.6

Short interest as a % of Float cap: 6%

Number of funds with stock as Top 10 holding: 4

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

Recent news: Following earnings report, Applied Materials shares rose.

Source: Goldman Sachs

Schlumberger

Sector: Oil & Gas Equipment & Services

Value of short interest (in billions): $1.5

Short interest as a % of Float cap: 1%

Number of funds with stock as Top 10 holding: 12

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

Recent news: Shares went up after Sandra Ward profiled Schlumberger on Barron's.

Source: Goldman Sachs

CenturyLink Inc.

Sector: Integrated Telecommunications Services

Value of short interest (in billions): $1.5

Short interest as a % of Float cap: 7%

Number of funds with stock as Top 10 holding: 0

Average portfolio weight when stock ranks among Top 10 holdings: NM

Recent news: CenturyLink is offering a new globally available private cloud service.

Source: Goldman Sachs

NextEra Energy Inc.

Sector: Electric utilities

Value of short interest (in billions): $1.5

Short interest as a % of Float cap: 4%

Number of funds with stock as Top 10 holding: 7

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

Recent news: NextEra was approved to build a $300 million wind farm in Ontario.

Source: Goldman Sachs

M&T Bank Corp.

Sector: Regional Banks

Value of short interest (in billions): $1.5

Short interest as a % of Float cap: 4%

Number of funds with stock as Top 10 holding: 7

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

Recent news: M&T Bank announced a quarterly cash dividend of $US0.70 per share on common stock.

Source: Goldman Sachs

QUALCOMM Inc.

Qualcomm CEO Paul Jacobs speaks during a keynote address in January.

Sector: Communications Equipment

Value of short interest (in billions): $1.4

Short interest as a % of Float cap: 1%

Number of funds with stock as Top 10 holding: 8

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

Recent news: Chinese subsidy regulations are going to affect Qualcomm.

Source: Goldman Sachs

WellPoint Inc.

Sector: Managed Health Care

Value of short interest (in billions): $1.4

Short interest as a % of Float cap: 5%

Number of funds with stock as Top 10 holding: 13

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

Recent news: WellPoint is changing its corporate name to Anthem, which is its well-known brand name in California and other states.

Source: Goldman Sachs

Oracle Corp.

Oracle president Mark Hurd delivers a keynote address at the company's 2013 conference.

Sector: Systems Software

Value of short interest (in billions): $1.4

Short interest as a % of Float cap: 1%

Number of funds with stock as Top 10 holding: 8

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

Recent news: Oracle introduced 'Social Station' -- a new workspace without its platform -- on Wednesday.

Source: Goldman Sachs

Eli Lilly and Co.

Sector: Pharmaceuticals

Value of short interest (in billions): $1.4

Short interest as a % of Float cap: 2%

Number of funds with stock as Top 10 holding: 4

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

Recent news: Eli Lilly's insulin drug gets 'tentative nod' from FDA.

Source: Goldman Sachs

Regeneron Pharmaceuticals

Sector: Biotechnology

Value of short interest (in billions): $1.4

Short interest as a % of Float cap: 5%

Number of funds with stock as Top 10 holding: 5

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

Recent news: Regeneron's eye drug, Eylea, has been approved in the EU.

Source: Goldman Sachs

Accenture Plc

Sector: IT Consulting & Other services

Value of short interest (in billions): $1.3

Short interest as a % of Float cap: 3%

Number of funds with stock as Top 10 holding: 2

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

Recent news: Accenture got a 1-year contract to help Belgium create a strategic information plan and improve government IT systems.

Source: Goldman Sachs

Ford Motor Co.

Sector: Automobile Manufacturers

Value of short interest (in billions): $1.3

Short interest as a % of Float cap: 2%

Number of funds with stock as Top 10 holding: 5

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

Recent news: Ford told its U.S. based dealers to stop selling and test-driving C-Max and Focus models on Thursday.

Source: Goldman Sachs

Chesapeake Energy

Sector: Oil & Gas Exploration & Production

Value of short interest (in billions): $1.3

Short interest as a % of Float cap: 9%

Number of funds with stock as Top 10 holding: 7

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

Recent news: Chesapeake was downgraded from buy to hold recently.

Source: Goldman Sachs

National Oilwell Varco

Sector: Oil & Gas Equipment & Services

Value of short interest (in billions): $1.3

Short interest as a % of Float cap: 4%

Number of funds with stock as Top 10 holding: 6

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

Recent news: The EVP announced retirement plans effective October 1, 2014; Craig L. Weinstock will be the successor.

Source: Goldman Sachs

Amgen Inc.

Amgen cafeteria

Sector: Biotechnology

Value of short interest (in billions): $1.2

Short interest as a % of Float cap: 1%

Number of funds with stock as Top 10 holding: 6

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

Recent news: Amgen's experimental thyroid drug 'met the main goal in the late-stage trial.'

Source: Goldman Sachs

Simon Property Group

Sector: Retail REITs

Value of short interest (in billions): $1.2

Short interest as a % of Float cap: 2%

Number of funds with stock as Top 10 holding: 1

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

Recent news: Simon Property Group shares increased after they announced the opening of Twin Cities Premium Outlets.

Source: Goldman Sachs

E. I. du Pont and Co.

E.I. Du Pont de Nemours circa 1950

Sector: Diversified chemicals

Value of short interest (in billions): $1.2

Short interest as a % of Float cap: 2%

Number of funds with stock as Top 10 holding: 3

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

Recent news: The company elected Ulf M. 'Mark' Schneider, President and CEO of Fresenius SE & Co. KGaA to its board of directors, starting October 22, 2014.

Source: Goldman Sachs

Celgene Corp.

Sector: Biotechnology

Value of short interest (in billions): $1.2

Short interest as a % of Float cap: 2%

Number of funds with stock as Top 10 holding: 6

Average portfolio weight when stock ranks among Top 10 holdings: 11%

Recent news: Celgene is partnering with Bristol-Myers to study cancer treatments.

Source: Goldman Sachs

Keurig Green Mountain

Sector: Packaged Foods & Meats

Value of short interest (in billions): $1.2

Short interest as a % of Float cap: 8%

Number of funds with stock as Top 10 holding: 4

Average portfolio weight when stock ranks among Top 10 holdings: 10%

Recent news: Keurig Green Mountain announced price increases up to 9% on portion packs effective November 3, 2014.

Source: Goldman Sachs

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