Crowded Stocks: What the Quant Data Says, Volume 2

UBS, in collaboration with its Quantitative research team, analyzes crowding across 10 US Theme Parks, Toys and Fitness stocks using prime brokerage data, stock loan data, 13F findings and UBS proprietary data. Crowding scores indicate risk from concentrated positioning, with high positive/negative scores posing downside/upside risk of a stock being sold/bought. As of early October 2026, the most crowded longs are PTON, PLNT and HAS, while the most crowded shorts are MTN, XPOF and PRKS. The largest positive 3-month crowding score changes are PRKS and PLNT, and the largest negative are FUN, PTON and HAS. Using the proprietary Three-Factor Crowding Momentum (crowding, change in crowding, 1-month momentum), CALY and PLNT showed positive momentum in September while all other names were neutral. On short interest, XPOF rose 1,326bps over the last year to 29.4% (largest increase) while CALY fell 610bps to 3.7% (largest decrease).