The 10 Most Shorted ASX Stocks · Week 3, 2026
12 Jan 2026 — 16 Jan 2026
Treasury Wine Estates (TWE) was the week’s loudest message: short interest surged from 10.33% to 12.96% (+2.62%), pushing it to #4 on the most-shorted list. Boss Energy (BOE) still wears the crown at 18.72% after a -0.51% trim, while Atomic Eagle (AEU) saw a full short exodus from 7.82% to 0.06% (-7.76%).
By Shorted AI Research · Published · Sourced from official ASIC short position reports (T+4 delay). Methodology · Not financial advice.
TWE didn’t drift higher on the short list — it jumped. In one week, short interest went 10.33% → 12.96% (+2.62%), and that’s enough to shove it straight into the ASX top 10 most shorted at #4. Big company. Big move. 1
At the top, the uranium crowd is still crowded. BOE remains #1 at 18.72% (WoW -0.51%), with DMP close behind at 17.42% (WoW -0.22%). GYG holds #3 at 13.79% (WoW -0.02%). 1 The reshuffle is TWE: now #4 at 12.96% after that +2.62% spike. Behind it, IEL sits at 12.25% (+0.05%) and PDN at 12.13% (-0.35%). PNV is 11.57% (+0.05%), TLX 11.10% (-0.11%), FLT 10.90% (+0.48%), and PWH rounds out the list at 10.69% (-1.09%). 1
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.
Start with the hit job: TWE’s short book expanded from 10.33% to 12.96% (+2.62%). That’s happening with FY2025 statutory NPAT of $436.9 million and EBITS of $770.3 million (26.2% margin) already printed — and with guidance calling out an adverse impact to Treasury Americas F26 operating plan NSR of approximately $50m. Shorts aren’t arguing about FY2025. They’re leaning on the bridge to FY2026. 1 2 The next adds were smaller but clean: LYC 6.68% → 7.45% (+0.77%), IPH 9.37% → 10.05% (+0.69%), MSB 6.51% → 7.12% (+0.61%), and CAT 3.65% → 4.25% (+0.59%). 1 Then the air pocket: AEU collapsed from 7.82% to 0.06% (-7.76%). That’s not trimming risk — that’s closing the book. 1 Two more covers worth filing: AMC 1.88% → 0.04% (-1.84%) and PWH 11.78% → 10.69% (-1.09%). In PWH’s case, the covering comes after FY2025 statutory NPAT of $9.8 million (down 60.6%) and revenue of $130.1 million (down 6.7%). When a stock is still top-10 shorted but the position is shrinking, it usually means the easy money’s been made and the next leg needs a fresh catalyst. 1 3 In the big end of town, RIO eased from 7.84% to 7.16% (-0.68%), with H1 FY2025 profit after tax attributable to owners of Rio Tinto of $4,528 million and net cash generated from operating activities of $6,924 million sitting in the background. 1 4
This wasn’t a market-wide lurch. Across 665 stocks, the average short position is 1.27% and the WoW average change is +0.00% — the action is concentrated in a handful of battlegrounds. 1 The tape reads like two separate trades running at once: - Uranium stays heavily shorted but isn’t accelerating: BOE at 18.72% (-0.51%) and PDN at 12.13% (-0.35%). 1 - Consumer-facing names are where shorts are still pressing: TWE at 12.96% (+2.62%) and FLT at 10.90% (+0.48%), while DMP remains pinned high at 17.42% (-0.22%). 1
One thing to watch next week: whether TWE keeps building on 12.96% after a +2.62% weekly surge. If that number rises again, the market is telling you the fight is now about FY2026, not the FY2025 print. 1 2
The top three are BOE at 18.72%, DMP at 17.42%, and GYG at 13.79%. [ref-1]
TWE short interest rose from 10.33% to 12.96% (+2.62%) in a week. In its FY2025 results, TWE also guided to an adverse impact to Treasury Americas F26 operating plan NSR of approximately $50m, which can sharpen the forward-earnings debate. [ref-1] [ref-2]
AEU fell from 7.82% short to 0.06% (-7.76%), the largest decrease in the dataset. [ref-1]
Yes. BOE fell from 19.23% to 18.72% (-0.51%) and PWH fell from 11.78% to 10.69% (-1.09%). [ref-1]
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.
