SRL short interest jumps +1.21% as DMP stays #1 at 15.18%
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.
This Week's Analysis
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.
Top Shorted Stocks This Week
Financial Snapshot
Key financial metrics from recent company reports for the most shorted stocks.
Biggest Risers
Stocks with the largest increase in short interest this week.
Biggest Fallers
Stocks with the largest decrease in short interest this week.
Movers Analysis
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.
Industry Trends
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.
Outlook
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.
Frequently Asked Questions
Which ASX stock is the most shorted this week?
DMP is #1 at 15.18% short, with a WoW change of -0.09% [ref-1].
What was the biggest jump in short interest?
SRL rose from 0.28% to 1.49% short, a +1.21% increase WoW [ref-1].
Which heavily shorted names saw shorts add this week?
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].
Which stocks saw the biggest short covering?
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].
Does high short interest always mean a stock will fall?
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].
Sources
- ASIC short position data via Shorted.com.au weekly report (Week: 2026-W13, Report Date: 2026-03-23, Previous Date: 2026-03-20)(2026-03-23) [asic data]
- Domino's Pizza Enterprises (DMP) FY25 Appendix 4E / Annual Report(2025-08-27) [financial report]
- Bapcor (BAP) FY25 Appendix 4E and Financial Report(2025-08-29) [financial report]
- Zip Co (ZIP) Half Yearly Report and Accounts(2025-02-25) [financial report]
- Nanosonics (NAN) 2025 Full Year Financial Results(2025-08-26) [financial report]
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.