EquiLend鈥檚 latest quarterly report reveals a record start to the year
22 April 2026 US
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EquiLend has published its latest quarterly report in a recent issue of The Purple.
Global securities finance revenue reached US$3.84 billion in Q1 2026, up 31 per cent year-over-year (YoY) 鈥� a record start to the year and a continuation of 2025鈥檚 total revenue, which was marked at US$15.3 billion.
According to the report, Asia Pacific led every region, up 48 per cent YoY (US$884 million in lender-to-broker revenue), with Korea being up 724 per cent YoY following the return of short selling, and Hong Kong on-loan balances more than doubled.
Bears wasted no time piling in after the US and Israeli strikes on Iran and the Strait of Hormuz closure, with EquiLend鈥檚 data showing 鈥渕eaningful鈥� short-interest builds across energy, airlines, and utilities 鈥� names in focus include Delta, American, NextEra, Xcel, International Seaways, easyJet, and Lufthansa.
AI crowding evolved from a directional trade into a sorting machine. IT led sector revenue at US$464 million globally, with SEALSQ, Hanmi, and GlobalWafers among the top borrow earners as investors bet against parts of the semiconductor rally.
EquiLend also went live with Predicted Short Interest this quarter, closing the reporting lag on the Financial Industry Regulatory Authority (FINRA) and exchange data.
Predicted Short Interest flagged meaningful changes in positioning well before they became visible to the broader market, notes EquiLend.
From stressed micro-caps to rebounding cyclicals and pressured large-cap software, these examples highlight how the metric has cut through volatility surfacing crowding, conviction, and risk inflection points ahead of traditional disclosures.
Global securities finance revenue reached US$3.84 billion in Q1 2026, up 31 per cent year-over-year (YoY) 鈥� a record start to the year and a continuation of 2025鈥檚 total revenue, which was marked at US$15.3 billion.
According to the report, Asia Pacific led every region, up 48 per cent YoY (US$884 million in lender-to-broker revenue), with Korea being up 724 per cent YoY following the return of short selling, and Hong Kong on-loan balances more than doubled.
Bears wasted no time piling in after the US and Israeli strikes on Iran and the Strait of Hormuz closure, with EquiLend鈥檚 data showing 鈥渕eaningful鈥� short-interest builds across energy, airlines, and utilities 鈥� names in focus include Delta, American, NextEra, Xcel, International Seaways, easyJet, and Lufthansa.
AI crowding evolved from a directional trade into a sorting machine. IT led sector revenue at US$464 million globally, with SEALSQ, Hanmi, and GlobalWafers among the top borrow earners as investors bet against parts of the semiconductor rally.
EquiLend also went live with Predicted Short Interest this quarter, closing the reporting lag on the Financial Industry Regulatory Authority (FINRA) and exchange data.
Predicted Short Interest flagged meaningful changes in positioning well before they became visible to the broader market, notes EquiLend.
From stressed micro-caps to rebounding cyclicals and pressured large-cap software, these examples highlight how the metric has cut through volatility surfacing crowding, conviction, and risk inflection points ahead of traditional disclosures.
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