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Sylebra eases off the brakes in Europe

October 14, 2021

While many hedge funds have backed off short positions in Europe over the past 12 months, only Sylebra Capital Management has done so by double digits. In has unwound these to the tune of 10.67 percentage points.

The biggest part of that move was a reduction of short interest in Blue Prism Group, an once-oversold name which rallied at the end of August. Sylebra still has a -3.49% exposure there, but that's dwarfed by October 2020's -11.16%. The fund is also marginally less bearish on Oesterreich Post.

Meantime, D1 Capital Partners has eased its shorts on Unibail-Rodamco-Westfield and Pearson. Carmignac Gestion has taken a scattershot approach to unwinding its short positions.

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