Thin book alert: -6.1% to -4.9%, median conf 78. This scan is shorting ↓6m/12m momentum plus illiquidity, not a macro theme. Sector mix: Industrials 3, Financials 2, Staples 2 — factor dump, not a sec

Wise Group plc ($WISE.L): -6.1%, conf 78, Tech, univ 0%, sec 3%. Not just ↓6m momentum — ↓12m momentum and ↓illiquidity both push down. Serco Group plc ($SRP.L): -5.6%, conf 79, Industrials, univ 0%, sec 1%. Same ↓6m drag, but ↓downside risk + ↓illiquidity are the real tell. Hexagon AB (publ) ($HEXA-B.ST): -5.6%, conf 76, Tech, univ 0%, sec 6%. Different shape: ↓downside risk leads, then ↓12m/6m momentum. Liquidity holes matter. Babcock International Group PLC ($BAB.L): -5.4%, conf 79, Industrials, univ 1%, sec 1%. ↓Illiquidity is top driver, then ↓12m/6m momentum. Imperial Brands PLC ($IMB.L): -5.4%, conf 78, Staples, univ 1%, sec 2%. Classic ↓6m/12m momentum short with ↓illiquidity kicker. Aviva plc ($AV.L): -5.1%, conf 79, Financials, univ 1%, sec 1%. ↓Illiquidity leads, ↓12m momentum second, ↓6m weaker. Financials concentration is real. Whitbread plc ($WTB.L): -5.0%, conf 79, Consumer Cyclical, univ 1%, sec 2%. ↓12m momentum main drag, then ↓illiquidity, then ↓downside risk. BAYERI

Wise Group plc ($WISE.L): -6.1%, conf 78, Tech, univ 0%, sec 3%. Not just ↓6m momentum — ↓12m momentum and ↓illiquidity both push down. Serco Group plc ($SRP.L): -5.6%, conf 79, Industrials, univ 0%,