The 10 Most Shorted ASX Stocks · Week 7, 2026
9 Feb 2026 — 13 Feb 2026
Shorts stayed concentrated in retail: AX1 remains the most shorted name at 6.78% (+0.15%), while ADH saw the week’s standout jump from 3.37% to 4.42% (+1.06%). Elsewhere, ALQ drew fresh heat to 1.93% (+0.53%), while AOV eased to 1.73% (-0.25%) as some positions came off.
By Shorted AI Research · Published · Sourced from official ASIC short position reports (T+4 delay). Methodology · Not financial advice.
The loudest signal this week wasn’t a slow grind higher — it was ADH. Short interest jumped from 3.37% to 4.42% in a single week (+1.06%), the biggest move on the board and a clear statement that someone wants to lean against discretionary retail risk on the ASX. 1
AX1 still wears the crown as the most shorted stock at 6.78% (+0.15%). 1 That’s happening even with FY25 numbers that don’t scream distress: net profit after tax of $57.7 million, EBITDA of $288.8 million, and total sales of $1.62 billion, plus EPS of 10.12 cents and total dividends of 7.00 cents per share. 2 The market’s basically saying: nice cash generation, but we don’t trust the retail cycle. Behind it, ACL sits at 4.63% (+0.20%) and BMN is steady at 4.48% (+0.00%). 1 ADH is now fourth at 4.42% (+1.06%), and BOQ rounds out the top five at 2.62% (+0.04%). 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.
ADH’s +1.06% move is the kind of weekly change that usually comes with a catalyst — or a crowded view. With a beta of 1.72, it’s a natural hunting ground for traders who want volatility and a clean macro expression. 1 The other eye-catcher is ALQ: short interest lifted from 1.40% to 1.93% (+0.53%). 1 With a P/E of 44.8, it doesn’t take much imagination to see the angle — shorts are challenging valuation. 1 On the cover side, AOV fell from 1.98% to 1.73% (-0.25%), the biggest reduction this week. 1 AIS also saw shorts trimmed from 1.08% to 0.86% (-0.22%), and ALK from 1.17% to 0.96% (-0.20%). 1
The pattern is pretty clean: shorts added to Consumer Discretionary (AX1 up +0.15% to 6.78%; ADH up +1.06% to 4.42%) while also pressing selective “expensive” names (ALQ up +0.53% to 1.93%; ABG up +0.23% to 0.96%). 1 Meanwhile, some Materials shorts were pared back (AIS down -0.22% to 0.86%; ALK down -0.20% to 0.96%; AAI down -0.12% to 0.64%), even as BGL held steady at 1.18% (+0.00%). 1
With 64 stocks shorted and an average short position of 0.67%, the market isn’t broadly leaning bearish — it’s picking spots. 1 Next week, watch whether ADH holds above 4.42% or keeps climbing; if it does, that’s a sign the retail short trade is getting more crowded, not less. 1
AX1 is the most shorted at 6.78%, up from 6.63% (+0.15%) week-on-week. [ref-1]
ADH had the biggest rise: 3.37% to 4.42%, a +1.06% jump. [ref-1]
AOV fell from 1.98% to 1.73%, a -0.25% move. [ref-1]
BOQ is in the top 10 at 2.62% (+0.04%), but ANZ saw shorts ease from 0.63% to 0.53% (-0.10%) this week. [ref-1]
AX1 reported FY25 NPAT of $57.7 million, EBITDA of $288.8 million, total sales of $1.62 billion, EPS of 10.12 cents, and dividends of 7.00 cents per share, yet short interest still rose to 6.78% — suggesting the market is more worried about the discretionary cycle than last year’s numbers. [ref-2] [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.
