market folly

Continuing our coverage of hedge fund short positions in Europe, next up is Denmark.  New European rules are obliging hedge funds to disclose information about the most carefully guarded part of their business activities: short positions.

Since November 1st when the EU Regulation on short positions came into force, there has been a deluge of information from financial regulators in EU countries giving information on short positions across all market sectors.

Public disclosure is required for net short positions of shares that reach 0.5% of the issued share capital of the company concerned and again at each 0.1% increment above that.  Additionally disclosure is required publicly when the position subsequently falls below 0.5%.  Here are the latest disclosures in Danish markets:


Hedge Fund Short Positions In Denmark Disclosed

Blue Ridge Capital: Short -1.82% Pandora, -4.47% Vestas Wind Systems

Citadel Europe: Short -0.65% FL Smidth & Co

Eton Park Capital: Short -2.14% Vestas Wind Systems

Greenlight Capital: Short -3.34% FL Smidth & Co

Lansdowne Partners: Short -0.88% H Lundbeck


Vestas Wind Systems is the most shorted stock in the Danish market. The total short position disclosed by Danish regulators is 10.35%. As only short positions of greater than 0.5% are disclosed it is likely that the total short interest figure in Vestas is considerably higher given that numerous other hedge funds most likely have short positions below the disclosure limit.

Also, it's worth pointing out Greenlight Capital's short of FL Smidth.  The Danish based company is engaged in the provision of equipment and services to the global cement and minerals industries.  Just recently, we highlighted how David Einhorn said to short iron ore as it seems he's bearish on materials.


To see more hedge fund shorts, head to our other coverage:

 - Hedge fund short positions in the UK

- Hedge fund short positions in Germany

- Hedge fund short positions in France

- Hedge fund short positions in the Netherlands

- Hedge fund short positions in Belgium

- Hedge fund short positions in Finland

- Hedge fund short positions in Sweden