New analysis from GraniteShares ETP a global issuer of Exchange Traded Products (ETPs) with nearly $1.7 billion under management, reveals that on November 30th 2023, Petrofac Limited was the most shorted UK listed company.
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Will Rhind, Founder and CEO at GraniteShares
The international energy services company had 6.98% of its stock held short by seven investment firms, the largest position was Helikon Investments Limited, at 1.76%.
Retailers ASOS and Kingfisher claimed the second and third positions, with 6.83% and 6.75% of their stock held short by eight fund managers each. This was followed by Metro Bank with 6.09% of its stock held short by three investment firms.
Will Rhind, Founder and CEO of GraniteShares:
“Retailers continue to dominate the list of the top five most shorted stocks, however our analysis reflects investors’ concerns regarding a wide range of companies that are facing potential risks amid uncertain market conditions. Shorting isn’t right for all investors, but heightened market volatility is driving an interest in shorting beyond the largest institutions, many sophisticated investors will use short ETPs like ours to protect their portfolio or profit from falling markets.”
The table shows the largest ten short positions in companies that are listed and trading on the London Stock Exchange.
| Company | Percentage of stock held short | Number of funds shorting the stock |
| Petrofac Ltd | 6.98% | 7 |
| ASOS PLC | 6.83% | 8 |
| Kingfisher PLC | 6.75% | 8 |
| Metro Bank Holdings Plc | 6.09% | 3 |
| Boohoo Group | 5.90% | 6 |
| Hargreaves Lansdown PLC | 5.02% | 5 |
| Abrdn plc | 4.60% | 6 |
| ITM Power PLC | 3.80% | 3 |
| Victoria PLC | 3.64% | 3 |
| Primary Health Properties PLC | 3.46% | 5 |
Source: London Stock Exchange, updated on November 30th 2023
The analysis also revealed GLG Partners LP held the highest number of short positions on UK listed companies of any investment firms, with 39 active shorts. This was followed by Marshall Wace LLP and BlackRock Investment Management (UK) Limited, which held 35 and 19 active shorts respectively.
The table shows the 10 fund managers with the highest number of short positions on companies that are listed and trading on the London Stock Exchange.
| Fund Manager | Number of short positions |
| GLG Partners LP | 39 |
| Marshall Wace LLP | 35 |
| BlackRock Investment Management (UK) Limited | 19 |
| Qube Research & Technologies Limited | 13 |
| Millennium International Management LP | 10 |
| Arrowstreet Capital, Limited Partnership | 7 |
| JPMorgan Asset Management (UK) Ltd | 7 |
| Ennismore Fund Management Limited | 6 |
| GSA Capital Partners LLP | 6 |
| Canada Pension Plan Investment Board | 5 |
Source: London Stock Exchange, updated on November 30th 2023
Source: ETFWorld.co.uk
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