New York/London/Berlin: Qube Research & Technologies has disclosed a significant short position worth approximately $105 million in Trump Media & Technology Group, the parent company of the Truth Social platform and majority-owned by former President Donald Trump. The disclosure was made through a filing with Germany’s federal gazette, Bundesanzeiger.
According to the filing, Qube’s short position represents 2.53% of Trump Media’s total free float. Trump Media remains 53% owned by Donald Trump. The short position was first reported by the research firm Breakout Point.
Trump Media has not yet responded to a request for comment from Reuters regarding the disclosure. Qube also declined to comment specifically on the trade, but noted in an email that its positions are based on a quantitative model and “do not reflect a specific view on the fundamental of the company.”
Short selling is a common investment strategy where investors profit from a stock’s price decline. It involves borrowing shares, selling them on the market, and then buying them back at a lower price to return to the lender—profiting from the difference.
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Breakout Point highlighted that this marks the first regulatory short position disclosure in Trump Media by any institution. The firm also noted that this ranks as Qube’s largest short position by percentage after its short position in B Riley Financial.
Trump Media shares, a favorite among retail investors, have dropped 44% in 2025, following a sharp rise in 2024. The company currently has a market capitalization of $4.2 billion, with a short interest of 4.9%, according to LSEG data.
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Earlier this month, shares of Trump Media tumbled after the company filed documents that would enable Trump’s trust to sell a large volume of shares. Despite this volatility, Trump Media shares rose 1.6% in Monday trading.
