On the heels of topping the Americas large-cap list for most shorted stock of 2023, Tesla was the most crowded security in January, with a score of 99, according to the latest Shortside Crowdedness Report from Hazeltree.
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.
In a statement, Tim Smith, Managing Director of Data Insights at Hazeltree, said: “2024 has started the way 2023 ended, with similar concentration of interest in many of the same securities and sectors, with the exception of the APAC region where there appears to be more movement among the top shorted securities.”
Energy companies Chevron (94) and Exxon Mobil (84) closely followed Tesla in the Americas large-cap rankings, alongside Apple (84) and Charter Communications (84). Albemarle Corporation had the highest institutional supply utilisation (23.59%)
In the mid-cap category, semiconductor developer Wolfspeed was the most crowded security (99), while Bloom Energy had the highest institutional supply utilisation (69.14%).
In the small-cap category, solar energy company Sunnova Energy remained the most crowded security (99), while battery manufacturing company Enovix displayed the highest institutional supply utilisation (86.52%).
In the EMEA large-cap category, luxury goods conglomerate LVMH was the most crowded security for the fifth consecutive month (99), and Universal Music Group had the highest institutional supply utilisation (5.99%), while in the mid-cap category, French rail manufacturer Alstom was the most crowded security (99) and had the highest institutional supply utilisation (80.75%).
Irish video game company Keywords Studio (99) was the most crowded security in the EMEA small-cap category for the second consecutive month, while health & fitness club Basic Fit had the highest institutional supply utilisation (77.56%).
In the APAC large-cap category, Takeda Pharmaceutical was the most crowded security (99), with Aeon leading in institutional supply utilisation (21.22%), while computer manufacturing company Daifuku was the most crowded security (99) in the mid-cap category and IHI stood out with the highest institutional supply utilisation (33.46%).
In the APAC small-cap category, Webjet was the most crowded security (99), while Takara Holdings had the highest institutional supply utilisation (26.31%).
The data contained in the report comes from Hazeltree’s proprietary securities finance platform data, which tracks approximately 15,000 global equities across the Americas, EMEA, and APAC. The data is aggregated and anonymised from the contributing Hazeltree community, which includes approximately 700 asset manager funds.
