The American fund D.E. Shaw & Co. (Desco), led by billionaire David E. Shaw, has increased its short position in Cellnex from 0.8% to 0.9% of the capital, the highest level since records have existed. At the same time, Citadel Advisors has cut its own short bet from 0.58% to 0.49%, the lowest threshold since data has been available, according to the latest communications from both vehicles to the National Securities Market Commission (CNMV), consulted by Europa Press.
Desco's short position amounts to about 6.14 million shares, valued at current market prices at approximately 167.85 million euros. In the case of Citadel, its short bet translates to nearly 3.34 million shares, with an amount close to 91.39 million euros.
In total, the short positions of both funds add up to around 9.49 million shares of Cellnex, with a combined value close to 259.24 million euros.
In the session on this Wednesday, around 11:00 hours, the 'torrera' advanced by 0.96%, placing its quotation around 27.33 euros per share.
Since June 16, when it reported 0.8% of the capital, the fund has raised its short bet by 0.1 percentage points, while Citadel has reduced its short position by 0.09 points from the 0.58% reported on July 30, to the current 0.49%.
Aggregately, Desco and Citadel now hold short positions equivalent to 1.39% of Cellnex's capital, slightly above the previous 1.38%.
A short position reflects an investor's expectation that a company's stock price will fall, as in that scenario they will make profits; if, on the contrary, the stock price rises, the operation will generate losses. The CNMV only makes public short positions equal to or greater than 0.5%.
D.E. Shaw, at historical highs; Citadel, at lows
Since records have existed, D.E. Shaw & Co. has maintained a short position in Cellnex that has fluctuated between 0.5%, a level reported on June 11, 2025, and March 26, 2026, and the current 0.9%, reported on August 10, which represents the maximum of the historical series.
Citadel Advisors, for its part, reached its largest short bet on July 23, 2026, with 0.6% of the capital. Its lowest level corresponds to the 0.49% reported on August 10, marking the minimum since data has been available.