Off Market, page-74

I hope I can clarify. ASIC short position reporting includes obligation to return under a stock borrowing agreement, so yes to position. If it is borrowed but not traded, it will not show up in the ASX Gross Short Sales report because that is for executions tagged as short.

It is quite possible and common to borrow stock to hold as inventory to facilitate other activities such as market making, or for speculators to ensure they keep their foot on stock so that they can trade in and out on the short side.