Market bears are circling an Italian yacht builder as investors look at the wider impacts of sanction against Russian oligarchs.

London-based money manager Marble Bar Asset Management disclosed to regulators that it holds a 0.5% short in Sanlorenzo, according to analysis by Breakout Point, a data analytics firm. Sanlorenzo, based in Ameglia on the Italian coast, is a shipbuilding firm that specialises in yachts and superyachts.