Scan says short the board: 6m -12.4% to -9.8%, median conf 92. Not sure people appreciate: all 10 are univ 0-2%. Dominant driver is earnings yield vs bonds in 6/10. Rates/valuation drag, not a sector

Trimble Inc. ($TRMB) and Realty Income Corporation ($O) lead the book. $TRMB: earnings yield vs bonds -0.0670, illiquidity +0.0267, short interest -0.0263. $O: short interest -0.0504, illiquidity -0.0314, earnings yield -0.0241. Top ranks, different plumbing. Dow Inc. ($DOW) and Molson Coors Beverage Company ($TAP): same rate tax. $DOW earnings yield -0.0670 + short interest -0.0539 + fwd/trail P/E -0.0207. $TAP short interest -0.0775 + earnings yield -0.0670, but illiquidity +0.0262. Chemicals and staples both crowded. Pfizer Inc. ($PFE) and Bio-Techne Corporation ($TECH) are the healthcare shorts. $PFE: earnings yield -0.0331, illiquidity -0.0269, 60d vol -0.0246. $TECH: earnings yield -0.0539, short interest -0.0508, illiquidity -0.0292. Low vol is not a shield here. The Mosaic Company ($MOS) and Wynn Resorts, Limited ($WYNN) show the cross-sector pattern. $MOS: short interest -0.0775, earnings yield -0.0670, illiquidity +0.0322. $WYNN: short interest -0.0571, vol instability -0.023

Trimble Inc. ($TRMB) and Realty Income Corporation ($O) lead the book. $TRMB: earnings yield vs bonds -0.0670, illiquidity +0.0267, short interest -0.0263. $O: short interest -0.0504, illiquidity -0.0