AQR and Capital Fund Management are among hedge funds making big bets against the German steel conglomerate Thyssenkrupp, according to a short-selling research firm. In what may be a worrying sign for companies at the heart of Germany's economy, bets against German steel have been ticking up this year. Marshall Wace, based in London, has been building up bets against German companies, racking up 25 short bets on the country's benchmark Dax index.