The 10 Most Shorted ASX Stocks · Week 13, 2026
23 Mar 2026 — 27 Mar 2026
The ASX’s most shorted name is still DMP at 15.18% (down -0.09% WoW), with TLX close behind at 14.52% (down -0.02%). The real action was outside the top 10: SRL ripped from 0.28% to 1.49% short (+1.21%), while shorts backed off ADH (2.20% to 1.70%, -0.50%) and BAP (8.98% to 8.52%, -0.46%).
By Shorted AI Research · Published · Sourced from official ASIC short position reports (T+4 delay). Methodology · Not financial advice.
SRL was the week’s cleanest “what do they know?” move: short interest surged from 0.28% to 1.49% (+1.21%). That’s a big step-up in positioning for a stock that wasn’t on most short-watch lists last week, and it dwarfed the market’s average WoW change of +0.01% across 672 shorted stocks 1.
At the top end, the leaderboard barely budged. DMP remains the most shorted stock on the ASX at 15.18% (down -0.09% WoW) 1. TLX sits at 14.52% (down -0.02%), while PNV is at 14.16% (up +0.09%) and GYG at 13.82% (up +0.14%) 1. The message: shorts are still leaning into expensive growth and consumer-facing execution risk. DMP’s fundamentals explain why it attracts sceptics: FY2025 revenue was $2,303.7 million (down -3.1%) and net profit was a $3.7 million net loss after tax 2.
Key financial metrics from recent company reports for the most shorted stocks.
Stocks with the largest increase in short interest this week.
Stocks with the largest decrease in short interest this week.
Beyond SRL, the other risers were MI6 (0.85% to 1.49%, +0.64%), SUN (1.17% to 1.51%, +0.34%), PMT (1.56% to 1.89%, +0.33%) and DTR (0.65% to 0.95%, +0.30%) 1. Two of those—MI6 (beta 1.94) and DTR (beta 3.77)—screen as high-volatility setups, which is exactly where shorts like to press when liquidity allows 1. On the cover side, ADH fell from 2.20% to 1.70% (-0.50%) and BAP from 8.98% to 8.52% (-0.46%) 1. BAP’s de-risking makes sense against disclosed numbers: FY2025 statutory NPAT was $28.1 million and statutory revenue was $1,975.8 million (down -3.0%) 3. ZIP also saw shorts ease from 9.15% to 8.86% (-0.29%) after reporting $95.4 million of positive cash flows from operations and $23.005 million profit from ordinary activities after tax in H1 FY2025 4.
Sector-wise, uranium remains a crowded trade. BOE is still heavily shorted at 11.98% (up +0.12%), and LOT sits at 11.05% (flat) 1. Yet PDN moved the other way, with short interest down from 8.51% to 8.24% (-0.27%) 1. That divergence suggests shorts are getting more selective within the theme, rather than making a blanket call on uranium. Healthcare growth is also still in the crosshairs: TLX at 14.52%, PNV at 14.16%, and NAN at 11.85% (down -0.07%) 1. NAN’s FY25 numbers were strong—total revenue $198.6 million (up +17%) and profit after income tax $20.7 million—yet the short remains elevated, which tells you valuation and expectations are doing the heavy lifting 5.
Watch whether SRL holds above 1.49% short next week—another leg higher would confirm this isn’t a one-off trade 1. In the top 10, FLT (10.90%, up +0.21%) is the one to monitor for follow-through, because that’s a meaningful weekly push in an already crowded short 1.
DMP is #1 at 15.18% short, with a WoW change of -0.09% [ref-1].
SRL rose from 0.28% to 1.49% short, a +1.21% increase WoW [ref-1].
Within the top 10, PNV rose to 14.16% (+0.09%), GYG to 13.82% (+0.14%), BOE to 11.98% (+0.12%), FLT to 10.90% (+0.21%), and DRO to 10.78% (+0.11%) [ref-1].
ADH fell from 2.20% to 1.70% (-0.50%), BAP from 8.98% to 8.52% (-0.46%), and CCP from 4.49% to 4.08% (-0.42%) [ref-1].
No—short interest is positioning, not a forecast. For example, NAN is still 11.85% short even after reporting FY25 total revenue of $198.6 million (up +17%) and profit after income tax of $20.7 million [ref-1] [ref-5].
Track the live rankings on the most shorted ASX stocks page, watch short squeeze candidates, or see market-wide totals in the ASX short selling statistics.
Data sourced from ASIC short position reports (T+4 delayed). This report is for informational purposes only and does not constitute financial advice. Short selling data may not reflect real-time market conditions.
