Marshall Wace shorting 6 DAX firms

Marshall Wace shorting 6 DAX firms

TL; DR: An about €287m short in BASF is the latest big short (short >0.5%) by Marshall Wace against DAX stocks. They currently hold about €1.1.6b in their six big DAX shorts. According to our records, since Bridgewater in Q1-2018, no one had so many big DAX shorts.*

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A 0.5% short in BASF on 2019-07-03 is the latest big short by Marshall Wace in Germany. At a market cap of about €57.5b, this 0.5% short translates to an about €287m short.

Short positions above €200m are very rare in our records and this is the first time that Marshall Wace appears with a big short in BASF. We have not seen a big short in BASF since Dalio's Bridgewater shorted it along a number of other DAX stocks in Q1-2018. 

With 27 big shorts Marshall Wace is by far the most active short seller in Germany. This is much higher than 17 German big shorts we noted a year ago for them. With about €1.16b in six DAX shorts Marshall Wace also has the highest number of big bets against stocks from the German main stock index:

  • Daimler AG 0.68% short, about €357m at a market cap of €52.55b,
  • BASF SE 0.50% short, about €288m at a market cap of €57.5b,
  • MERCK KGaA 0.61% short, about €252m at a market cap of €41.3b,
  • Deutsche Bank AG 1.09% short, about €161m at a market cap of €14.8b, 
  • Thyssenkrupp AG 0.86% short, about €65m at a market cap of €7.6b, and
  • Deutsche Lufthansa AG 0.53% short, about €39m at a market cap of  €7.3b.

When it comes to EU Chemicals sector, Marshall Wace holds about €462m in four big shorts, which is higher number of shorts than any other fund in this sector. 

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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 2019-07-05.

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