A fund manager has allocated a $50M portfolio to stocks for their potential alpha return. She wants to remove the beta risk from the portfolio to make it a market neutral portfolio. The current beta of the portfolio is 1.2. The portfolio is domestics stocks, and the relevant benchmark is the S&P 500. An e-mini futures contract for the S&P 500 represents 50 shares of the index, and the current value of the S&P index is 3,000. How many contracts does the manager need to short in order to hedge the risk?