Company
Company desk
Consumer Discretionary
Swedish multinational fashion retailer operating H&M and sister brands across physical stores and e-commerce.
Company identity & filings
What printed
Bevispaketet för H&M i 30-dagarsfönstret består uteslutande av kalenderposter från H&M:s IR-finansiella kalender. Tre av posterna avser rapporttillfällen — nio-månadersrapport 2026-09-24, helårsrapport 2027-01-28 och tre-månadersrapport 2027-03-24 — och en avser bolagsstyrning i form av årsstämma 2027-05-05 kl. 15.00 (CEST) i Erling Persson Hall, Aula Medica, Solna (, ). Inga insidertransaktioner i FI:s insiderregister (insider), inga flaggningsanmälningar, inga offentliggjorda blankningspositioner och inga flaggade finansiella dokumentationer ingår i paketet. Endast kalenderevidens finns att tolka.
HM B · daily bars · evidence markers
HISTORICAL BEHAVIOUR
T−60 → T0 → T+30
THIS PRINT · HISTORICAL OUTCOMES · NOT A FORECAST
Karl-Johan Persson · buy · 2026-08-17
+4,1 %
T+1 abs · +4,7 % vs OMX
+6,8 %
T+5 abs · +6,1 % vs OMX
−4,1 %
T+20 abs · −2,6 % vs OMX
—
T+60 abs
—
T+120 abs
Yahoo OHLC (Tier-3 / unofficial) when that is the bar source — not a licensed close.
Event replay uses prepared studies and bars already on the desk — not a forecast.
SAME-CLASS COHORT · NOT A FORECAST
n=721Leadership buys · tracked universe
+0,5 % median T+5 vs OMXS30
+2,4 % median T+20 vs OMXS30
CHART READING
AI-generated, evidence-linkedreadymoderate confidencegenerated 2026-09-18 08:58Fönstret 22 juni – 17 september 2026 gick från 166,8 till 164,3 SEK (−1,5 %) efter en topp på 185,8 och en botten på 159,9. Bilden är tudelad: styrelseordföranden Karl-Johan Persson lade upprepade öppna marknadsköp motsvarande cirka 2,37 mdkr netto enligt FI:s PDMR-register, medan H&M den 5 augusti flaggade försäljning under plan och sänkt helårsambition för rörelsemarginal. Mot den bilden stod Lottie Thams 5%-tröskelpassage nedåt (4,85 %), Qube Research & Technologies 1,45 % blankning och en Dagens Industri-notis om starkt höstkollektionsmottagande som inte lyfte slutpriset över öppningsnivån.
Price and event windows provide context only and do not establish causation.
Market data source: Free OHLC fallback (Yahoo Finance) — unofficial Yahoo OHLC fallback (low credibility).
Three registers · last 30 days
Their own shares, an ownership line, and a disclosed short. Separate. Never added together.
Their own shares
211 tkr
30 days · net reported
Ownership line
—
30 days · notices
Disclosed short
—
Change in the disclosed book · since 2025-04-08
Separate evidence classes — never summed. Blankning is disclosed significant net shorts, not free-float short interest.
Illustrative archive visual — precedent, not a forecast
Yahoo OHLC is unofficial (Tier-3). Historical behaviour, not a forecast.
H&M: 1 reported insider trade in 14 days
1 named in the register
8 earlier clusters at this issuer · Last time this shape printed: 2026-08-17 Open cluster story →
Median T+20 vs OMXS30: +0,8 % (n=3441)
Yahoo OHLC is unofficial (Tier-3). Historical behaviour, not a forecast.
Earlier multi-person PDMR windows on this issuer · not a forecast
Buy cluster · 2 people · 7 prints
Insider buy cluster · 692,8 mkr in
Karl-Johan Persson · Fredrik Malmsten · Diego Teijeiro Ruiz
692,8 mkr
2026-08-03 → 2026-08-17
MARKET DNA · FACTS ONLY
session 2026-09-17RSI 14
34.6
vs 20d SMA
−4,9 %
vs 200d SMA
−4,6 %
Drawdown
−31,8 %
RVOL 20
0.82
PDMR 90d
12 · 1,04 mdkr net
in 1,04 mdkr · out 4,4 mkr
Short book
2 holders · 2.06%
FI Blankning · not free-float short
Flaggning 90d
1
Ownership notices
PDMR studies
120 complete · 3 pending
last 2026-08-17
Indicators from the latest prepared session snapshot. Yahoo OHLC is unofficial (Tier-3) when that is the bar source. DNA is a fact strip — not a forecast.
insider-activity
Building evidence
0.55 · 90d · 10d ago · Q 95
market-activity
Mixed evidence
-0.03 · 5/20/60d · 10d ago · Q 60
narrative-velocity
Evidence-linked synthesis — every claim cites a source
Den enda verifierbara datapunkten i bevismaterialet för H&M (hm) de senaste 14 dagarna är Finansinspektionens blankningsregister (Blankning). Två betydande innehavare har rapporterat net short-positioner om totalt cirka 2,06 %, där Qube Research & Technologies Limited väger tyngst med 1,45 % per 2026-08-06. Inga flagningar (Flaggning) finns registrerade, och övriga signaler ligger på svaga, 'building-evidence'-nivåer — bevisbilden är med andra ord tunn utanför blankningsspåret.
1 sourcesingle source
Why it may matter:
Den aggregerade blankningsbilden ger en konkret referenspunkt för short-sentiment, men FI-siffrorna avser enbart net short-positioner ovan 0,5 % och säger ingenting om total fri float-shortränta. Avsaknaden av flagningar och PDMR-kluster gör att bilden är begränsad till detta enskilda bevisspår, och andra desk-aggregat bör tolkas med försiktighet.
76 sourced events
EVENT DENSITY · LAST 45 DAYS · ONE LANE PER REGISTER
Density of sourced events by day × category — not a recommendation signal.
Same sector · separate lanes · 30d
PDMR · Flaggning · Blankning stay in separate lanes — not a ranking. Missing series show as —.
Blankning, Flaggning and Swedish funds are not combined.
Net shorts (Blankning)
Σ 2.06%
book since 2025-04-08 · Δ +1.45 pkt
2 position(s) · 2 holder(s) · as of 2026-08-06
Disclosed significant net shorts (≥0.5%), not total free-float short interest.
Ownership (Flaggning)
1 notice
0 buy · 1 sell · 0 other
Swedish funds (FI fondinnehav)
130 funds
18,0 mdr across reporting funds · as of 2026-03-31 · 130 Swedish funds held HENNES & MAURITZ B
FI Flaggning notices as ticks on a date line — not a holding pie, not fundinnehav, not PDMR.
FI Flaggningsmeddelanden. Years with no notice stay blank. The % on a tick is the post-trade figure on that notice — not percent owned.
FI PDMR register · disclosed activity only
PDMR TREND · 14D
Net insider buying · 211 tkr net in
211 tkr
net disclosed
0 sell / 1 buy print(s) from 1 unique PDMR(s) in 14d. Reported sells 0 kr, buys 211 tkr. Share price over the same 14d window: −1,1 % — buys overlap a pullback. Based solely on Finansinspektionen PDMR disclosures.
How similar past prints and catalog setups behaved — not a forecast
HISTORICAL BEHAVIOUR · NOT A FORECAST
n=3441This CFO print · Adam Gustav Karlsson · buy · 2026-07-07 · 796 tkr
−3,9 %
this print T+1
−2,1 % T+5
+8,0 % T+20
vs OMXS30 −0,8 % T+5 · +4,2 % T+20
Leadership buys · tracked universe
+0,8 % median T+5 vs OMXS30
+0,8 % median T+20 vs OMXS30
AI · STUDY JSON H&M CFO Adam Karlsson discloses PDMR buy at neutral momentum
A PDMR buy print dated 2026-07-07 by Adam Gustav Karlsson, flagged as CFO with leadership status.1 Side is buy.1 The event study locates 13 similar prints within a cohort of 3,412 PDMR events.1 At T0 the price sits near the 20-day SMA at 166.95 with vs_sma_20 of -0.24%, vs_sma_50 +0.88%, and vs_sma_200 -2.36%.1 RSI(14) reads 50.6, placing momentum in the mid-range.1 MACD at +0.026 sits just above zero while the MACD histogram is negative at -0.193, and 10-day momentum is +0.01%.1 Bollinger mid aligns with the SMA20 at 166.95, with bands at 163.52 and 170.37.1 Drawdown is shallow at -0.32%; the print is +35.3% off the 52-week low and -12.4% from the 52-week high.1 ATR(14) is 4.13 and relative volume 0.69, indicating below-average turnover into the disclosure.1
Disclosed filings and registers — not inferred
H&M Group June–August sales development below plan; full-year margin outlook revised
Annual report filed (fixture): H & M Hennes & Mauritz AB
REPORT SUMMARY · neutral
The evidence records that H & M Hennes & Mauritz AB filed an annual report for the reporting period ending 31 December 2025. The supplied extract contains Bolagsverket digital annual-report metadata only and does not provide results, outlook, or capital actions.
4 sources · latest 27d agomultiple sourcesstale evidence
Pris och insynsprint som sammanfaller på kalenderdag är överlapp, inte orsakssamband – desk-fakta visar sammanträffande, inte kausalitet. Prisserien är inofficiell (Yahoo OHLC-fallback, unofficialBars=true); tolka rörelser som ungefärliga. FI Blankning visar endast rapporterade net short-positioner ≥0,5 % och är inte hela free-float-korta intresset. PDMR-aggregatet bygger enbart på FI:s register: 13 köp mot 2 sälj, netto 2,37 mdkr. Dagens Industri-notisen är publicerad 2026-08-06 men refererar framåt till september-resultat – tajmingen är inte entydig mot priset.
Sell cluster · 2 people · 2 prints
Leadership sell cluster · 4,4 mkr out
Fredrik Malmsten · Cecilia Vinterhed
Buy cluster · 2 people · 7 prints
Insider buy cluster · 1,68 mdkr in
Karl-Johan Persson · Adam Gustav Karlsson
Buy cluster · 2 people · 4 prints
Insider buy cluster · 1,39 mdkr in
Karl-Johan Persson · Daniel Ervér
Buy cluster · 2 people · 8 prints
Insider buy cluster · 1,01 mdkr in
Karl-Johan Persson · David von Heijne
Buy cluster · 2 people · 5 prints
Insider buy cluster · 779,9 mkr in
Karl-Johan Persson · David von Heijne
Buy cluster · 2 people · 5 prints
Insider buy cluster · 359,9 mkr in
Karl-Johan Persson · Mehmet Arisoy
Buy cluster · 3 people · 8 prints
Insider buy cluster · 668,4 mkr in
Karl-Johan Persson · Henrik Kroon · John Ehrnst
Built from FI PDMR prints with the same cluster thresholds as Today. Overlapping windows are collapsed. Research tools only — not investment advice.
Insufficient data
0.00 · 72h · 10d ago · Q 0
corporate-events
Building evidence
0.61 · 30d · 10d ago · Q 48
composite
Building evidence
0.33 · multi-window · 10d ago · Q 82
Confidence rationale: Bevisunderlaget består av en enda datapost (FI Blankning-aggregat). Inga flagningar, PDMR-kluster, insider-aggregat eller andra capital-/macro-/insider-poster finns i evidence-pack — detta drar kraftigt ned tilltron till en sammanhängande berättelse.
supporting
Finansinspektionens blankningsregister visar att H&M har två betydande net short-positioner, summerade till cirka 2,06 % av aktiekapitalet.
1 sourcesingle source
supporting
Den största positionen innehas av Qube Research & Technologies Limited med 1,45 %, rapporterad per 2026-08-06.
1 sourcesingle source
caveat
BlackRock Investment Management (UK) Limited har en rapporterad position om 0,61 % daterad 2026-03-26, det vill säga nästan fem månader äldre än Qubes.
H&M IR calendar — 2027-05-05. Date taken from the issuer page, not invented.
H&M IR calendar — 2027-03-24. Date taken from the issuer page, not invented.
Weight is share of that fund’s AUM, not of H&M. Not a flaggningsmeddelande.
DISCLOSED SHORT · HISTORICAL BEHAVIOUR · NOT FREE-FLOAT SI
Qube Research & Technologies Limited · 2026-08-06 · 1.45%
Qube Research discloses 1.45% short in underlying; price sits in upper Bollinger band zone
Disclosed significant short prints only (n=2 on this issuer). Not total free-float short interest. Historical behaviour, not a forecast.
FLAGGNING · HISTORICAL BEHAVIOUR · NOT FUND BOOK
Lottie Tham · sell · 2026-08-03 · 4.8%
H&M: Lottie Tham files 4.8% sell flaggning; price extended above MAs, no comparable prints in cohort
FI Flaggning threshold notices only — not fund book (n=1 on this issuer). Universe sample is small; medians need n≥10.
Universe Flaggning sample is small (issuer complete n=1) — no cohort median.
unresolved evidenceunresolved evidence
Similar prints · T0 features only
Yahoo OHLC is unofficial (Tier-3). Figures are historical behaviour after similar prints — not a forecast.
Board · management · open first, ended tagged. PDMR related parties omitted.
Management
.jpg?width=256){kind=small}
Detected via 2 evidence records
Detected via 3 evidence records
Detected via 3 evidence records
Detected via 3 evidence records
1 sourcesingle source
caveat
Den rapporterade siffran avser enbart FI-disclosed net short-positioner (≥0,5 %) och representerar inte total fri float-shortränta.
1 sourcesingle source
supporting
Den aggregerade blankningsexponeringen om 2,06 % speglar en aktuell blankningsbild mot H&M.
1 sourcesingle source
contradicting
Den ena av de två positionerna (BlackRock, 0,61 %) är daterad 2026-03-26, medan den andra (Qube, 1,45 %) är från 2026-08-06 — summan blandar en ~5 månader gammal siffra med en färsk, vilket gör att aggregeringen kan överdriva dagens exponering.
1 sourcesingle source
supporting
Två oberoende blankare indikerar diversifierat short-sentiment.
1 sourcesingle source
contradicting
Qubes 1,45 % utgör cirka 70 % av den summerade exponeringen, så bilden är mer koncentrerad än diversifierad trots att positionCount = 2.
1 sourcesingle source
H&M IR calendar — 2027-01-28. Date taken from the issuer page, not invented.
H&M IR calendar — 2026-09-24. Date taken from the issuer page, not invented.
Reported to FI: buy of 1300 Quantity Hennes & Mauritz AB, H & M ser. B at 162,3 kr. Nature: open-market.
Reported to FI: buy of 1440 Quantity Hennes & Mauritz AB, H & M ser. B at 175,5285 kr. Nature: open-market.
Reported to FI: buy of 8000 Quantity Hennes & Mauritz AB, H & M ser. B at 174,86 kr. Nature: open-market.
Reported to FI: buy of 850000 Quantity Hennes & Mauritz AB, H & M ser. B at 173,5294 kr. Nature: open-market.
Reported to FI: buy of 650000 Quantity Hennes & Mauritz AB, H & M ser. B at 175,3828 kr. Nature: open-market.
Reported to FI: buy of 800000 Quantity Hennes & Mauritz AB, H & M ser. B at 175,7172 kr. Nature: open-market.
Reported to FI: buy of 1650000 Quantity Hennes & Mauritz AB, H & M ser. B at 175,1875 kr. Nature: open-market.
Reported to FI: sell of 18000 Quantity H & M Hennes & Mauritz AB share at 158,4 kr. Nature: open-market.
Qube Research & Technologies Limited reports net short 1.45% in H & M Hennes & Mauritz AB.
Net sales in local currencies decreased 3 percent in the period June–August 2026. The group revises its full-year operating margin ambition and will present measures with the Q3 report.
Threshold 5 %; holding 4.85%
Chief Financial Officer (CFO)
Chief Operating Officer
Board
Styrelseledamot
Member of the Board of Directors
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Named by the issuer or a sourced headline — never invented.
28 JanEarnings
Full-year report (1 Dec 2025 – 30 Nov 2026)
Issuer IR financial calendars
Open source →24 MarEarnings
Three-month report (1 Dec 2026 – 28 Feb 2027)
Issuer IR financial calendars
Open source →5 MayBolagsstämma
Annual general meeting at 15.00 (CEST), Erling Persson Hall, Aula Medica, Solna
Issuer IR financial calendars
Open source →Evidence-linked synthesis — every claim cites a source
Devil’s-advocate readings produced with this brief — disclosed activity only, not a recommendation.
Disclosed activity
Den aggregerade blankningsexponeringen om 2,06 % speglar en aktuell blankningsbild mot H&M.
1 sourcesingle source
Disclosed activity in tension
Den ena av de två positionerna (BlackRock, 0,61 %) är daterad 2026-03-26, medan den andra (Qube, 1,45 %) är från 2026-08-06 — summan blandar en ~5 månader gammal siffra med en färsk, vilket gör att aggregeringen kan överdriva dagens exponering.
1 sourcesingle source
Disclosed activity
Två oberoende blankare indikerar diversifierat short-sentiment.
1 sourcesingle source
Disclosed activity in tension
Qubes 1,45 % utgör cirka 70 % av den summerade exponeringen, så bilden är mer koncentrerad än diversifierad trots att positionCount = 2.
1 sourcesingle source
