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The Big Shorts page from the Fintel quant platform discloses the largest short positions by hedge funds disclosed by the SEC as determined by SEC data. The list is compiled from 13F and NPORT filings to determine the value of short positions for each stock.
In this article, Fintel journalists have picked the top 10 stocks with the largest net short positions currently in the market.
To find more about this data and see the full list, click here!
Global asset manager, Arena Investors has dominated the list this month with some of the largest short positions across the market.
Arena Investors LP has a net short position of $1,029,000 in Carvana Co (US:CVNA). Short positions are common in the stock with ~50.3% of the float currently shorted according to Nasdaq data. The company was reportedly discussing debt restructuring this week with several parties according to a bloomberg article.
CVNA screen’s highly on Fintel’s gamma squeeze leaderboard with a score of 95.16, ranking it in 13th spot.
Citigroup Inc holds several positions in Tesla Motors (US:TSLA) but remains predominantly net short with a value of $1,149,292. The net short position consists of $2,052,955 in put options, $394,294 worth of call options and $509,369 worth of long stock. The stock remains down -55% year to date as the premium valuation came crashing down with other growth stocks.
Arena Investors LP has a net short position of $1,309,350 MicroStrategy Inc (US:MSTR) comprised of put options. The stock holds a large amount of Bitcoin as a long-term investment which impacts momentum for the stock depending on the price action of the cryptocurrnecy.
MSTR is heavily shorted with ~39.5% of the float currently short according to Nasdaq data. The stock features near the top of Fintel’s short squeeze score leaderboard in 6th position with a score of 95.76.
Group One Trading LP is net short $1,737,306 in Alphabet Inc (US:GOOG), which is comprised of $1,944,557 of put positions and $207,251 in call positions. The internet conglomerate has outperformed broader technology peers down only -35% over 2022.
Alphabet is one of the least shorted stocks in the market with only ~0.3% of GOOG currently shorted according to Nasdaq data.
Arena Investors LP has a net short position of $2,064,800 in retailer Bed Bath & Beyond Inc (US:BBBY). The stock is quite popular among shorters with around ~31% of the float currently shorted. The stock is trading -79% lower over 2022 but has experienced several short squeezes driven by retail investors.
BBBY ranks in 12th spot on Fintel’s gamma squeeze leaderboard with a score of 95.18.3
Tesla Motors (US:TSLA) has the third largest net short position held by Millennium Management Llc worth $2,418,214. The short position is comprised of $3,905,143 worth of put options, $1,099,249 of call options and $387,770 in long value.
TLSA has a low level of short interest in the stock with only ~2.9% of the float currently shorted.
ProAssurance Corporation (US:PRA) has the second largest disclosed net short position from Simplex Trading, Llc with a value of $3,421,134. The institution is broadly bearish with most options held in the form of ‘puts’ with a small call option value of $17,000.
There are not many short positions for PRA with short interest equating to only 1.85% of the float currently. The insurance stock has traded down with broader equity markets in 2022 with -25% in share prices losses.
Beyond Meat Inc (US:BYND) currently has the largest net short position from Arena Investors LP with a net short value of $4,061,277 from put options held for the stock.
BYND is a heavily shorted stock with around ~42% of the float currently sorted according to Nasdaq data. The stock is currently 55th on the short squeeze leaderboard with a score of 88.99.
BYND is targeting to become cash flow positive in the second half of 2023 and recently announced plans to reduce its workforce by around ~19% in a push for profitability.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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