Several semiconductor firms remain among most crowded large-cap securities in Americas

Tesla maintained its position as the most crowded security in the Americas, while Boeing joined the ranks as one of the top shorted stocks in June, 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 also found LVMH and Toyota continued their hold as the top shorted large-cap stocks in their respective regions of EMEA and APAC.

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 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 anonymized from the contributing Hazeltree community, which includes approximately 700 asset manager funds.

“It was notable to see Boeing make its debut as one of the most crowded large-cap securities in the Americas in June, according to our data,” said Tim Smith, managing director of data insights at Hazeltree. “Meanwhile, we continue to see multiple semiconductor firms, including Advanced Micro Devices, Microchip Technologies and Synopsys remain among the most heavily shorted large-cap securities in the Americas for the second month in a row.”

Highlights from the June 2024 report include:

Americas

• In the large-cap category, Tesla maintained its position as the most crowded security (99), while Boeing made its debut on the Shortside Crowdedness report with a score of 76. Charter Communications had the highest institutional supply utilization (22.80%).
• In the mid-cap category, software company Confluent retained its top spot for the second consecutive month with a Hazeltree Crowdedness Score of 99. Bloom Energy had the highest institutional supply utilization (84.37%).
• In the small-cap category, Solaredge Technologies was the most crowded security (99). Trupanion had the highest institutional supply utilization (62.68%).

EMEA

• In the large-cap category, luxury goods conglomerate, LVMH, continued to dominate as the most crowded security (99), maintaining this position since the beginning of the year. Aeroports de Paris SA (14.42%) had the highest institutional supply utilization, closely followed by Kuehne und Nagel International AG (14.39%).
• In the mid-cap category, French rail manufacturer Alstom remained the most crowded security (99) for the sixth consecutive month. Nibe Industrier AB had the highest institutional supply utilization (39.96%).
• In the small-cap category, MIPS AB was the most crowded security (99). Basic-Fit NV had the highest institutional supply utilization (94.32%).

APAC

• In the large-cap category, Toyota continued its hold as the most crowded security (99), a position held since February, and Unicharm Corp had the highest institutional supply utilization (14.88%).
• In the mid-cap category, Ibiden Co Ltd and Rohm Co. were the most crowded securities (99) for the second consecutive month. Pilbara Minerals Ltd stood out with the highest institutional supply utilization (52.33%).
• In the small-cap category, Money Forward Inc. was the most crowded security, with a score of 99. Liontown Resources Ltd had the highest institutional supply utilization (88.82%), closely followed by Nomura Micro Science Co. (88.51%).

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

• 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.
• 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.
• 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.

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

Note to editors: If you are a member of the media/press and would like to be included on the distribution list for this report, please contact hazeltree@backbaycommunications.com.

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 and Hong Kong.

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