European Short Observer January 2017

Using the daily filings from the European Short Disclosure Regulation (ESMA), we track over thirty billion Euros in short investments across more than two hundred managers. The charts show changes in sector exposures and the best short picks from the past month. Also ranked are the most shorted securities, the most covered securities, and the top new shorts of the month.

This January, the greatest decrease in aggregate shorted value was in the energy sector—mostly due to the merger of Technip and FMC Technologies.

The best short was CGG–Veritas, with five managers shorting around twenty million Euros at the end of the month. The most crowded stock—also among the best shorts—was Pearson, shorted by five managers with an aggregate short exposure of more than 190 million Euros.

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