Hazeltree Reports: Global Short-Selling Intensity Spikes for Consumer Lifestyle and Tech Sectors

Business Wire

10-07-2025

NEW YORK & LONDON--(BUSINESS WIRE)--The hedge fund market saw broad-based gains, continued inflows, and signs of strategic repositioning, as reflected in short-selling activity tracked in the Hazeltree June 2025 Shortside Crowdedness Report. Across all regions, short-sellers targeted consumer lifestyle and technology brands, according to Hazeltree, a leader in active treasury and intelligent operations technology for the alternative asset industry. Frequently shorted consumer discretionary names included Live Nation Entertainment, Inc., JetBlue Airways Corporation, Kering SA, LVMH Moët Hennessy, ANTA Sports Products Ltd., and Oriental Land Co., Ltd. Noteworthy tech targets included Super Micro Computer, Inc., Synopsys, Inc., Koninklijke Philips N.V., Nintendo Co., Ltd., and Hon Hai Precision Industry Co., Ltd.
The report is a monthly listing of the top 10 most crowded shorted securities in the Americas, EMEA, and APAC regions, categorized by large-, mid-, and small-cap ranges. Hazeltree compiles data from its 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 comprises approximately 700 asset management funds. The firm assigns securities a Hazeltree Crowdedness Score, a key metric that 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.
'While consumer lifestyle brands have continued to dominate the top 10 most crowded shorts over the past two months, in June we also saw a renewed focus on technology names across all market caps globally,' said Tim Smith, Managing Director of Data Insights at Hazeltree. 'One notable shift was the disappearance of the SPDR S&P 500 ETF from the Americas large-cap top 10, which may signal a pivot away from broad U.S. equity exposure in favor of international allocations. At the same time, The Goldman Sachs Group, Inc. entered the top 10 for the first time this year—potentially a response to the firm's strong stress test results, its planned dividend hike, and continued cost-control efforts, including layoffs.'
Highlights from the June 2025 report include:
AMERICAS
In the large-cap category, Chevron Corporation is the most crowded security with a score of 99 for a second month and the fourth time this year. Live Nation Entertainment, Inc. became the second most crowded security with a score of 94 dropping from the top spot. Super Micro Computer, Inc. held the highest institutional supply utilization figure (45.81%) for the seventh consecutive month.
In the mid-cap category, EchoStar Corporation is the most crowded security with a Crowdedness Score of 99, while MP Materials Corp. held the highest institutional supply utilization figure (76.75%).
In the small-cap category, Edgewell Personal Care Company was the most crowded security with a score of 99. Applied Optoelectronics, Inc. had the highest institutional supply utilization (55.84%).
EMEA
In the large-cap category, Kering SA and LVMH Moët Hennessy were the most crowded securities for the second consecutive month, joined by BE Semiconductor Industries N.V. with a score of 99. H&M Hennes & Mauritz AB had the highest institutional supply utilization (70.35%) for the fifth time this year.
In the mid-cap category, Melrose Industries PLC was the most crowded security (99). Davide Campari-Milano N.V. had the highest institutional supply utilization (62.62%) for the second month in a row and third time this year.
In the small-cap category, Worldline SA is the most crowded security, with a score of 99. Basic-Fit N.V. also topped institutional supply utilization (81.28%) for the third straight month.
APAC
In the large-cap category, ANTA Sports Products Ltd and Oriental Land Co., Ltd. were tied with a score of 99 for the second time this year. Chow Tai Fook Jewellery Group Ltd had the highest institutional supply utilization (80.23%).
In the mid-cap category, Ibiden Co., Ltd. topped the list as the most crowded security with a score of 99 for the second consecutive month. Nissan Motor Co., Ltd. held the highest institutional supply utilization for the first time (33.00%).
In the small-cap category, Money Forward, Inc. was the most crowded security (99) for the third time this year. Lye Pharma Group Ltd. had the highest institutional supply utilization (77.75%).
To view Hazeltree's June 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:
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.
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.