Three Big Shorts in Hargreaves Lansdown

Three Big Shorts in Hargreaves Lansdown

Three hedge funds hold big shorts (shorts > 0.5%) in Hargreaves Lansdown. All three increased their shorts last week.

A total of 2.33% short interest (about £211 million short at a market cap of £9.07 billion), is split among: Lansdowne Partners (0.62% short, about £56 million), Marshall Wace (0.61% short, about £55 million) and AQR (1.1% short, about £100 million).

The big short of Lansdowne Partners was initiated last week on Thursday and this is the first time that they appear in our records with a big short in Hargreaves Lansdown. Masrhall Wace and AQR both increased their big shorts last week.

Last week a potential withdrawal halt in Hargreaves Lansdown was speculated, in relation to Woodford suspension (ref. The Telegraph).

We estimated, last week, about £1 billion in big shorts in stocks that are among reported holdings of Woodford funds. Following redemption requests, Woodford Investment Management has been reducing a number of their investments (ref. ZeroHedge). Simultaneously, we noted that short positions in a number of related stocks have been added and/or increased last week. A few examples: 

  • a first ever big short in Burford Capiital was disclosed, a 0.5% short (about £17 million short at a market cap of £3.93 billion) by Gladstone Capital Management LLP, while
  • Odey and Blackrock emerged with big shorts in Newriver REIT, pushing the overall short interest to new all time highs in our records. 

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* Note: Presented short selling data is based on European net short position data which is disclosed to the public when short positions at least equal to 0.5% of company issued share capital. Presented data and analytics is as of available on 2019-06-10.

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