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Hedge funds up short positions on European banks

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A number of hedge fund firms, including Bridgewater Associates, Millennium Management and Marshall Wace, have upped their short bets against European banking shares following the collapse of Silicon Valley Bank and Signature Bank, according to a report by Reuters, citing data from Breakout Point.

The data provider also revealed that as of 15 February, Citadel, Wellington Management, Capital Fund Management and Odey Asset Management already had short positions, some long-standing.

Breakout Point’s analysis of public filings from Austria, Italy, Sweden, Britain, Spain and Poland, identified Marshall Wace as the holder of the largest number of disclosed short positions against European banks – BAWAG, FinecoBank, Handelsbanken, CaixaBank, NatWest Group, and PKO Bank Polski. 

By Tuesday, the value of bets by short sellers against European banks had reached $15.7 billion, according to data from S&P Global Market Intelligence.

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