Hedge Fund Short Positions In Spain and Austria

Hedge Fund Short Positions In Spain and Austria

In our coverage of short positions across Europe, we have missed Spain so far, where Mediaset Espana Comunicacion SA (MCE:TL5) is a short position of Highbridge Capital, Saemor Capital and Millennium Capital.  A shorting favorite is Indra Sistemas SA (MCE:IDR), which is a bet of Hoplite Capital, Meditor Capital, Adelphi Capital, Morton Holdings, and Antipodean Advisors. Bankinter SA (MCE:BKT) is a short bet of Discovery Capital, Wellington Management, and Marshall Wace. Wellington is shorting 3.48 percent of Bankinter SA (MCE:BKT).

In Austria CQS UK and Castle Creek Arbitrage are shorting 1.43 and 1.24 percent of conwert Immobilien Invest SE’s shares outstanding. GLG Partners also has a small position, amounting to 0.34 percent, which has been reduced from a previous holding of 0.5 percent. Jabre Capital Partners SA is shorting 3.41 A-TEC Industries AG. Wellington Management is shorting 0.54 percent RAIFFEISEN BANK INTL (PINK:RAIFF), while Axial Capital is shorting 0.5 percent of Österreichische Post Aktiengesellschaf.

In Germany, Enismore Fund Management has started a 0.55 percent short in Delticom AG (ETR:DEX) (FRA:DEX). Highbridge Capital Management disclosed a short in KUKA Aktiengesellschaft.

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Lets take a look at the most shorted stocks in the UK on the basis of the number of funds shorting them. Ocado Group PLC (LON:OCDO) is a short position of 11 hedge funds, the list includes famous names like, Jim Chanos’ Kynikos Associates, Steve Cohen’s S.A.C Capital Advsiors, GMT Capital, and Blue Ridge Capital. The summed position of all 11 hedge funds equals 16 percent of the outstanding shares of Ocado Group PLC (LON:OCDO). Kynikos Associates has the largest single position, with a 4.22 percent stake.

Lonmin Plc (LON:LMI) (PINK:LNMIY) comes second. The company is a short bet of 9 hedge funds, with Nomura International being the latest contender with a 0.54 percent position. The combined short position in Lonmin plc is 7.26 percent of the outstanding shares. The short sellers include, Odey Asset Management, BlackRock, Inc. (NYSE:BLK), AQR Capital, among others. Investec Management exited their 0.54 percent short position on November 14.

 In Netherlands, the latest is that Third Point has initiated a short in 0.8 percent of ROYAL IMTECH N.V. EO -,80 (FRA:IR3A), as of Nov 29. The same company is also a short position of Morton Holdings and Naya Master Fund. Moreover, Egerton Capital disclosed a short in 0.6 percent of Fugro N.V (AMS:FUR) on November 21. AQR Capital Management is also shorting the same stock.


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