It's been three weeks since the S&P 500 closed at its all-time high of 1,709.
Some think this is just a mild pullback in an ongoing bull market.
Others think this is the beginning of a big sell-off.
In Goldman Sachs' new "Hedge Fund Trend Monitor" report, Amanda Schneider lists out the 50 favorite short positions of the 708 hedged funds that the firm follows.
"The [Very Important Short Position] returned 17% YTD in 2013, providing a better return than shorting S&P 500 (19.5%)," said Schneider.
We ranked the top 24 stocks on the list based on the dollar value of short interest.
24. Target
Ticker: TGT
Value of short interest: $1.3 billion
YTD Return: 18%
Sector: General Merchandise Stores
Comment: Target's Q2 earnings dropped 13% from a year ago.
Source: Goldman Sachs
23. Ford
Ticker: F
Value of short interest: $1.3 billion
YTD Return: 30%
Sector: Automobile Manufacturers
Comment: In 2008, Ford lost $14.7 billion. Its dramatic rise since then has been impressive, but investors are wondering if the magic can continue.
Source: Goldman Sachs
22. Deere & Co.
Ticker: DE
Value of short interest: $1.3 billion
YTD Return: -1%
Sector: Construction & Farm Machinery & Heavy Trucks
Comment: Deere beat earnings recently, with revenue jumping 12% to $10.01 billion from $8.93 billion a year ago.
Source: Goldman Sachs
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