Most crowded longs and shorts going into earnings season
AndreyKrav/iStock via Getty Images
The ratio of long equity positions to short positions is at its lowest level in five years, according to Goldman Sachs.
"After heavy selling in August that was driven almost entirely by hedge funds pressing shorts, the aggregate US equity long/short ratio is currently near 5-year lows, which ranks in the 2nd percentile," Michael Nocerino, VP of multi-asset platform sales wrote in a note. "Last Friday cumulative short flow reached a YTD high, and we only started to see covers mainly via macro products."
"With EPS kicking off this week, our traders/specialists put together a quick take on positioning & crowding across sectors."
Tech, Media and Telecom (XLK) (XLC)
Crowded Longs

Microsoft (MSFT)
Meta (META)
Amazon (AMZN)
Nvidia (NVDA)
Adobe (ADBE)

Crowded Shorts

Verizon (VZ)
IBM (IBM)
Paypal (PYPL)
Palantir (PLTR)
DocuSign (DOCU)

Consumer (XLY) (XLP)
Crowded Longs

Procter & Gamble (PG)
O'Reilly Automotive (ORLY)
McDonald's (MCD)
Walmart (WMT)
Target (TGT)
Abercrombie & Fitch (ANF)
PVH (PVH)
Ollie's (OLLI)

Crowded Shorts 

Tractor Supply (TSCO)
V.F. Corp (VFC)
Floor & Decor (FND)
B.J.'s Wholesale (BJ)
Nike (NKE)
General Mills (GIS)

Healthcare (XLV)
Crowded Longs

UnitedHealth (UNH)
Boston Scientific (BSX)
AbbVie (ABBV)
McKesson (MCK)
Eli Lilly (LLY)

Crowded Shorts

Walgreens (WBA)
DexCom (DXCM)
Pfizer (PFE)
Insulet (PODD)
Illumina (ILMN)

Industrials (XLI)
Crowded Longs

GE (GE)
Sherwin-Williams (SHW)
Vertiv Holdings (VRT)
XPO (XPO)
FedEx (FDX)

Crowded Shorts

RTX (RTX)
3M (MMM)
Carrier (CARR)
UPS (UPS)
Stanley Black & Decker (SWK)

Energy (XLE)
Crowded Longs

Exxon Mobil (XOM)
Marathon Petroleum (MPC)
Noble (NE)
Occidental Petroleum (OXY)

Crowded Shorts

Valero (VLO)
TechnipFMC (FTI)
Comstock Resources (CRK)
Coterra Energy (CTRA)
Delek (DK)

Financials (XLF)
Crowded Longs

Progressive (PGR)
Everest (EG)
ReaissanceRe (RNR)
Apollo Global (APO)
CBOE (CBOE)

Crowded Shorts

Comerica (CMA)
Synchrony Financial (SYF)
Citizens Financial (CFG)
Bank of America (BAC)
U.S. Bancorp (USB)

Utilities (XLU)
Crowded Longs

PG&E (PCG)
NextEra Energy (NEE)
Sempra (SRE)

Crowded Shorts

Consolidated Edison (ED)
OGE Energy (OGE)

Real Estate (XLRE)
Crowded Longs

EastGroup Properties (EGP)
Equinix (EQIX)
Public Storage (PSA)
Equity Residential (EQR)
Omega Healthcare (OHI)

Crowded Shorts

S.L. Green Realty (SLG)
Digital Realty (DLR)
Kimco Realthy (KIM)
Hudson Pacific (HPP)
Park Hotels (PK)
Healthcare Realty (HR)


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