Hedge funds are betting shares in some of the market's hottest sectors will fall amid concerns that the boom in electric vehicles, luxury goods and artificial intelligence may not last.

Data compiled by Hazeltree, which provides treasury services to institutional investors such as hedge funds, showed electric carmaker Tesla, Gucci owner Kering and Japanese chipmaker Advantest were the most bearish large-cap stocks in their regions shorted by hedge funds last month.

The New York-based firm calculates short-selling crowding on a scale of 1-99 based on the percentage of funds of each shorted stock. Tesla, Kering, and Advantest all scored 99 points on crowding.