Short Sellers Zero In On Tech Stocks: Hazeltree’s January 2025 Shortside Crowdedness Report Highlights Apple, Super Micro, MicroStrategy and Synopsys

New Entrants Kering SA in EMEA and Disco Corporation in APAC were the Most Crowded Large Cap Securities

NEW YORK & LONDON--(BUSINESS WIRE)--Tech stocks Apple, Super Micro Computer, MicroStrategy, and Synopsys were among the top 10 most crowded large-cap securities in the U.S. that caught the attention of short-sellers, according to the latest Shortside Crowdedness Report from Hazeltree, a leader in active treasury and intelligent operations technology for the alternative asset industry. The report reveals the most crowded shorted large-cap stocks in EMEA were Kering SA and Disco Corporation in APAC, which did not previously hold these spots.

The report is a monthly listing of the top 10 shorted securities in the Americas, EMEA, and APAC regions in the large-, mid-, and small-cap ranges. The data is compiled from Hazeltree’s proprietary securities finance platform data, which tracks approximately 15,000 global equities across the Americas, EMEA, and APAC. The data - available to select clients - is aggregated and anonymized from the contributing Hazeltree community, which includes approximately 700 asset manager funds representing 20% of hedge fund gross market value. The securities are assigned a Hazeltree Crowdedness Score, a key metric, which grades securities on a scale of 1 to 99, with 99 representing the highest concentration of shorting activity. This scoring highlights securities most targeted by investors and reflects key supply-demand dynamics.

“The tech sector continued to ride a wave of investor enthusiasm from December, which included short-sellers who gravitated to large-cap security names such as Apple and Super Micro,” said Tim Smith, Managing Director of Data Insights at Hazeltree. “We observed the reemergence of past 2024 crowded large caps such as Chevron and Super Micro Computer, which were among January’s most crowded shorted securities with a score of 99. While in EMEA, Kering SA overtook previous crowded consumer lifestyle securities LVMH and H&M, while in APAC, Disco Corporation skirted past previous crowded titans Toyota and Mitsubishi Heavy Industries as the most crowded large cap security.”

Highlights from the January 2025 report include:

Americas

• In the large-cap category, Live Nation Entertainment, Inc. reappeared for the second month, followed by new entrants WEC Energy Group, Inc., Chevron Corporation and Charter Communications, Inc. as the most crowded securities with a score of 99. Super Micro Computer, Inc. and MicroStrategy, Inc. were the second most crowded securities with a score of 96, while Super Micro Computer had the highest institutional supply utilization (51.03%) for the second month in a row.
• In the mid-cap category, Albemarle Corporation topped the list, with a Hazeltree Crowdedness Score of 99. AST SpaceMobile, Inc. held the highest institutional supply utilization figure (77.57%).
• In the small-cap category, Wolfspeed, Inc. continued its hold as the most crowded security for the seventh consecutive month, with a score of 99 and also had the highest institutional supply utilization (60.45%) for the second consecutive month.

EMEA

• In the large-cap category, Kering SA was the most crowded security, with a score of 99, and H&M Hennes & Mauritz AB had the highest institutional supply utilization (65.02%) for the seventh consecutive month.
• In the mid-cap category, Nibe Industrier AB and Adecco Group AG were the most crowded securities (99). Nibe had the highest institutional supply utilization (55.29%).
• In the small-cap category, Alphawave IP Group plc was the most crowded security for the second month in a row, achieving a score of 99. AMG Critical Materials N.V. led in institutional supply utilization (81.76%).

APAC

• In the large-cap category, Kering SA was the most crowded security, with a score of 99, and H&M Hennes & Mauritz AB had the highest institutional supply utilization (65.02%) for the seventh consecutive month.
• In the mid-cap category, Nibe Industrier AB and Adecco Group AG were the most crowded securities (99). Nibe had the highest institutional supply utilization (55.29%).
• In the small-cap category, Alphawave IP Group plc was the most crowded security for the second month in a row, achieving a score of 99. AMG Critical Materials N.V. led in institutional supply utilization (81.76%).

To view Hazeltree’s January 2025 Shortside Crowdedness Report and past reports, click here.

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Hazeltree Shortside Crowdedness Report Methodology

The Shortside Crowdedness Report tracks shorting activity in three different metrics:

1. Hazeltree Crowdedness Score: This score represents securities that are being shorted by the highest percentage of funds in Hazeltree’s community in a pre-defined category. The securities are graded on a scale of 1-99, with 99 representing the security that the highest percentage of funds are shorting.
2. Institutional Supply Utilization: This figure represents the percentage of the institutional investors’ supply of a particular security that is being lent out. The institutional supply utilization rate is an indicator of how “hot” a security is in terms of the supply-demand dynamic. It is possible to see 100% utilization of a security’s availability, making it difficult to establish new short positions.
3. Hazeltree Community Borrow Fee: This figure is the average weighted fee for what funds in the Hazeltree community are paying to borrow a security. The fee is represented as the annualized cost calculated as a percentage of the price of the security.

About Hazeltree

Hazeltree is a leader in active treasury and intelligent operations technology. Purpose-built for the alternative asset management ecosystem, Hazeltree’s modular platform aggregates internal and external data, providing a comprehensive view of operations and counterparty relationships while proactively highlighting opportunities to extract more value from every transaction. Hazeltree is headquartered in New York with offices in London, Bournemouth, and Hong Kong. For more information, please visit www.hazeltree.com.