New analysis from GraniteShares reveals that on 1 September 2024, Petrofac was the most shorted UK listed company.
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Will Rhind, Founder and CEO at GraniteShares
The international energy services company had 8.69% of its stocks held short by five investment firms, with Astaris Capital Management LLP holding the largest position at 2.51%.
Diversified Energy Company was the second most shorted company with 7.84% of its stocks held short by eight fund managers. This was followed by Ocado Group and Burberry Group with 6.18% and 6.06% of the retailers’ stock held short by five and four fund managers, respectively.
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 | 8.69% | 5 |
| Diversified Energy Company PLC | 7.84% | 8 |
| Ocado Group PLC | 6.18% | 5 |
| Burberry Group PLC | 6.06% | 4 |
| Kingfisher PLC | 5.55% | 5 |
| abrdn PLC | 5.63% | 6 |
| ASOS PLC | 5.13% | 6 |
| Boohoo Group | 4.86% | 4 |
| Pennon Group PLC | 4.37% | 5 |
| Wizz Air Holdings PLC | 3.99% | 5 |
Source: London Stock Exchange, updated on September 1, 2024
The analysis also revealed GLG Partners LP held the highest number of short positions on UK listed companies of any investment firms, with 40 active shorts. This was followed by Marshall Wace LLP, which held 32 active short positions.
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 | 40 |
| Marshall Wace LLP | 32 |
| Qube Research & Technologies Limited | 25 |
| JPMorgan Asset Management (UK) Ltd | 17 |
| BlackRock Investment Management (UK) Limited | 12 |
| ActusRayPartners Limited | 9 |
| Arrowstreet Capital, Limited Partnership | 8 |
| Canada Pension Plan Investment Board | 8 |
| Millennium International Management LP | 8 |
| AQR Capital Management, LLC | 7 |
Source: London Stock Exchange, updated on September 1, 2024
Will Rhind, Founder and CEO of GraniteShares, said: “Energy and retail firms are seen as areas where share price weakness is creating the chance for investors to bet against firms with Petrofac the most shorted stock in the UK along with Ocado, Burberry and Kingfisher.”
“Shorting has long been a powerful tool in the arsenal of institutional investors, but we have seen a rise in retail traders using short ETPs like ours to explore market opportunities. While some retreat to the sidelines, sophisticated investors see opportunity to increase their exposure and potential returns through leverage, and hedge against long positions.”
Source: ETFWorld.co.uk
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