Billionaire George Soros, who warned of a looming financial crisis and an existential threat to the European Union on Tuesday, is shorting stocks from Stockholm to London.

His family office has about US$256 million in disclosed wagers against European companies it believes are destined to lose market value, according to data compiled by Bloomberg. Below are the top five short bets of Soros’s investment firm by market value.

As political turmoil in Italy spread contagion through global markets, Soros counted the planned U.S. termination of the nuclear deal with Iran and what he called the “destruction” of the trans-Atlantic alliance between America and the EU among sources of dislocation.

As Italy approaches another election, concern that strengthened populist parties could take the country out of the euro sparked risk-off moves and a flight to safety worldwide on Tuesday. U.S. stock futures dropped alongside European equities and the euro, while Treasuries advanced with the dollar and yen.

Spokesmen for Boliden AB, CYBG Plc and Domino’s Pizza Group Plc declined to comment, while emails and calls to representatives of Soros, Krones and Aggreko remained unanswered.