A equity fund manager has a portfolio worth $100 million with a beta of 1.27. The current level of S&P 500 index is 2,650. The price of one- month S&P 500 futures contract is 2,680. One contract is on $250 times the index points. If this manager is concerned about the market risk over the next month and plans to use one- month futures contracts on the S&P 500 to hedge the risk. What position should the fund manager take to eliminate all exposure to the market over the next month?