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Just to add the last stage, when closing out their short position its a reversal of below, hence why shorts reducing has no impact on the share price.

That's got the grey cells whirring : )

This can be a difficult concept to understand, knowledge of bid/offer quote system helps, also market making.

In basic terms hedge fund XYZ's London office on account 'A' would buy 100,000 shares in WPP making them net long, their New York office under account 'B' would then arrange to sell 50,000 shares short the counter party being account 'A' - this is done in the auction either all in one go or smaller parcels.

Now because of UK disclosure requirements you would only see the transaction from account 'B' assuming it crosses the 0.5% threshold.

In terms of the different values for WPP, again likely down to disclosure - intel figures are for the US ADR where MW has a long position, it was really just to demonstrate the long/short principal employed.

The trade described above is standard practice for most institutions especially where they have an active trading strategy .

Take a look at Boo, Citadel have both short and long positions declared but no one takes any notice, you would think the media would be all over that story.

Here's the long position for WPP Marshall Wace

On August 14, 2023 - Marshall Wace, Llp filed a 13F-HR form disclosing ownership of 56,521 shares of WPP Plc. - ADR (US:WPP) valued at $2,954,918 USD as of June 30, 2023

https://fintel.io/so/us/wpp/marshall-wace-llp

But you are only seeing one side of the trade, plus the media likes to portray hedge funds in a certain way which feeds into this notion of being short.

MW have a huge portfolio which is long only, covered by one or two sizeable put options

Marshall Wace, Llp Portfolio Holdings

https://fintel.io/i/marshall-wace-llp

Yup, the Crest loan data is encouraging reflecting what we see on the holdings page.

With regard to the FCA short tracker data it is tiny, but more importantly unlikely to be a straightforward short. Its not an easy topic to explain but in essence funds use a long/short position to buy in and out of stocks, we only get to see one side of the trade so it appears they are net short.

Its standard practise but not widely publicised, that said Marshall Wace have said on several occasions they are neutral when asked on this subject.

Usual caveats apply

5.90% Oct-23

6.36% Sep-23

7.56% Aug-23

8.58% Jul-23

8.64% Jun-23

8.97% May-23

10.13% Apr-23

10.31% Mar-23

10.55% Feb-23

10.52% Jan-23

10.60% Dec-22

That's just one of the trade though which is most likely to balance out a long position, i.e trade the volatility.

London is the only exchange which has this lopsided reporting, exchanges like Hong Kong have full disclosure.

..cool as a cucumber money left now..lol

Central banks flatlining, NASDAQ strong finish iShares small cap ETF have moved consumer discretionary to 2nd place, only a small fund though, biggie with $500b is still at 4th place, may change after todays fed decision.

That's the answer I was looking for, even if my question was a little confusing.

Good run recently along with a few other Chinese biotech's.

Central banks along with tracker type institutional funds will be looking at the same data, arriving at the same or similar conclusions = more than likely an inflection point:

- UK housing market declining, loss of tax revenue

- Bonds plummeting, severe, unsustainable pressure on financial markets

- Pensions reporting huge holes due to unexpected bond repricing

- Inflation dropping back, slowing retail sales

My guess is the tracker funds are adjusting their financial models in preparation for easing and subsequent recovery.

Central banks along with tracker type institutional funds will be looking at the same data, arriving at the same or similar conclusions = more than likely an inflection point:

- UK housing market declining, loss of tax revenue

- Bonds plummeting, severe, unsustainable pressure on financial markets

- Pensions reporting huge holes due to unexpected bond repricing

- Inflation dropping back, slowing retail sales

My guess is the tracker funds are adjusting their financial models in preparation for easing and subsequent recovery.

Are there any other recognised combinations Jatw ?

Something to keep in mind with these partnerships, upfront cost for onboarding being heavily weighted in the first year, hence long term contracts and commitment from both sides.

Given most of these links publsihed have been for companies going active during last 12-18 months its reasonable to assume we are at or have passed peak CAPEX (Autostore/fitting out).

All of this is happening when the markets are adverse to expenditure, .

A good question to ask is where are THG on capaciaty thresholds, i.e how full are the distibution centres, this will give some idea of when the high cash flow will diminish.

Market commentators, analysts seem bewildered at this type of investment for long term gain, just when THG are winding down others will be starting out.

Bullish about the Chinese market, Takeda Pharmaceutical Co Ltd is ramping up efforts to cooperate with local partners to help build a more innovative digital-empowered ecosystem in the country, said a Takeda senior executive.

Ramona Sequeira, president of the global portfolio division at the company, said: "We are in a stage of bringing many new innovative products to China. China's growth is strong, and we believe that in the next decade, the market will become our largest after the United States."

https://investinchina.chinaservicesinfo.com/s/202310/25/WS6538c3d5498ed2d7b7e9e565/takeda-ramps-up-efforts-in-china-market-to-enhance-local-ties.html

Brazil summary

https://www.linkedin.com/posts/plant-health-care-inc_agriculture-biologicals-sustenability-activity-7122627823218888705-VOVT/?utm_source=share&utm_medium=member_desktop

Cheers Jatw, will take a look.

Not a bad performance this week all things considered, held gains across the pond too.

Weightings for CNCR ETF as below puts HCM ahead of heavy weights such as Bristol Myers Squibb, could be down to merger I guess if both funds held the same stock.

Nice to meet you, we're Clink..

https://www.clinkspirit.com/explore.list

Green rows indicate new positions

https://fintel.io/so/gb/thg

One more to add to the list, Shiro is the other leading brand owned by Phillip Morris.

Ingenuity also flagged for Shiro, site under construction (scroll to bottom)

https://storeleads.app/reports/thehutgroup/category/Smoking%20&%20Vaping

Nice one Manc, I must admit this one completely passed me by.

Could be our 'Red Bull' moment..

(lol)