Investor Michael Burry is best known for his short bet against the US housing market. The trading strategy brought him millions in profit after the real estate bubble burst in 2007 and was worked on in the Hollywood film “The Big Short”. In the second quarter of 2023, the market expert turned his depot upside down again.
Form 13F requires institutional investors with more than $100 million in assets under management to file their holdings with the US Securities and Exchange Commission (SEC) on a quarterly basis. This also applies to Michael Burry.
Hedge fund Scion Asset Management completely converted again
After the star investor had already fundamentally restructured its hedge fund Scion Asset Management in the first quarter of 2023, the stock market expert, who became known for his short bet against the US real estate market, also made a tabula rasa in the second quarter of the year. The “The Big Short” investor threw out some positions completely from the portfolio and added shares from some companies to the portfolio from scratch. He only held six existing holdings in the portfolio, although these were also subject to adjustments. These are New York Community Bancorp, The RealReal, Liberty Latin America (Class C), The GEO Group, Signet Jewelers and Cigna.
Focus on put options
Overall, the exchange giant’s portfolio was worth $1.737 billion at the end of the quarter. This also includes put options on trusts, which make up the majority of the portfolio value: In the past quarter, Burry acquired 2,000,000 new put options for the Invesco QQQ Trust and the SPDR S&P 500 ETF TRUST in the hedge fund. The option packages were worth $738.840 million and $886.560 million, respectively, at the end of June, accounting for 42.54 percent and 51.05 percent, respectively, of all Grandmaster holdings. Only the remaining 6.41 percent were equities.
Accordingly, the following ranking only includes pure shareholdings. These were the top 10 stocks in the Burry portfolio in the second quarter of 2023, weighted by percentage. The data is current as of June 30, 2023.
Editorial office finanzen.net
11th place: The ranking
“The Big Short” investor Michael Burry made fundamental changes to his hedge fund Scion Asset Management again in the second quarter of 2023. The portfolio, which is now worth $1.737 billion – had a market value of $106.94 million in the first quarter – was repositioned through numerous new additions and sales. The ranking shows the ten stock holdings that accounted for the largest share in the portfolio of Michael Burry’s hedge fund Scion Asset Management last quarter. The values are weighted as a percentage according to the share in the portfolio. The data is current as of June 30, 2023.
Source: sec.gov, Image: Jim Spellman/WireImage/Getty Images
10th place: Warner Bros. Discovery
The tenth largest shareholding in the Burry depot: 375,000 shares in the media group Warner Bros. Discovery. The stake first made its way into Scion Asset Management’s hedge fund in the second quarter and was valued at $4.702 million as of the reporting date. This corresponds to 0.27 percent of the entire portfolio.
Source: sec.gov, Image: Jimmy Tudeschi / Shutterstock.com
9th place: Signet Jewelers
One of the few companies already in Burry’s portfolio in the previous quarter is jewelry retailer Signet Jewelers. However, the “big short” investor reduced its stake in the world’s largest jewelry chain by 40,000 shares in the second quarter and now holds 85,000 shares. On the market, these were worth $5.547 million as of the reporting date – 0.32 percent of all positions.
Source: sec.gov, Image: Pavel Kapysh / Shutterstock.com
8th place: Vital Energy
Canadian energy company Vital Energy was also on Burry’s shopping list for the first time. Between April and June 2023, 125,000 shares in the group known as Laredo Petroleum until the beginning of 2023 ended up in the star investor’s hedge fund. On the stock exchange, these were still valued at 5.644 million US dollars, which corresponds to 0.33 percent of the entire portfolio.
Source: sec.gov, Image: Chones / Shutterstock.com
7th place: Stellantis
Burry also grabbed the Stellantis car company for the first time. 325,000 shares of the Open parent found their way into the Scion Asset Management portfolio, which had a market value of 5.700 million US dollars on June 30, 2023. Compared to all of Burry’s holdings, the titles corresponded to 0.33 percent.
Source: sec.gov, Image: MikeDotta / Shutterstock.com
6th place: MGM Resorts International
Hotel and casino operator MGM Resorts International is also a recent addition to the hedge fund. Here Burry pushed 150,000 shares into the portfolio, which at the end of June 2023 were worth 6.588 million US dollars. The participation corresponded to 0.38 percent of the entire portfolio.
Source: sec.gov, Image: Jonathan Weiss / Shutterstock.com
5th place: CVS Health
The 100,000 shares of the fresh participation in the pharmacy chain CVS Health landed in fifth place. At the end of the quarter, the shares were worth $6.913 million in the stock market – 0.40 percent of the entire Burry portfolio.
Source: sec.gov, Image: Jonathan Weiss / Shutterstock.com
4th place: Cigna
Fourth is another of the few positions spared by Burry in the second quarter of 2023. The legendary investor has now added 2,500 shares to his stake in the insurer Cigna, which he had built up in the previous quarter, for a total of 27,500 shares. As of the reporting date, these had a market value of 7.716 million US dollars and thus accounted for 0.44 percent of the entire portfolio.
Source: sec.gov, Image: askarim / Shutterstock.com
3rd place: Generac
From zero to third place in the Burry ranking, the 55,000 shares of the US manufacturer of emergency power generation products Generac made it in the second quarter of 2023. At the end of the quarter, the shares on the exchange had a total value of $8.202 million, accounting for 0.47 percent of all positions.
Source: sec.gov, Image: Yingna Cai / Shutterstock.com
2nd place: Charter Communications
The cable network operator Charter Communications is also one of Burry’s newcomers and entered second place in the second quarter of 2023. The “The Big Short” investor grabbed 25,000 charter shares that were worth a total of $9.184 million in the stock market as of June 30, 2023 — 0.53 percent of Burry’s entire portfolio.
Source: sec.gov, Image: Charter Communications
1st place: Expedia
The new number one in the Burry depot: shares in the travel agency Expedia. The star investor also rebuilt this position and took 100,000 shares into the portfolio, which were worth 10.939 million US dollars on the reporting date. That made up only a relatively small 0.63 percent of the entire Burry depot.
Source: sec.gov, Image: expedia
Selected Leverage Products on Charter Inc (A) (Charter Communications)
With knock-outs, speculative investors can participate disproportionately in price movements. Simply select the desired leverage and we will show you suitable open-end products on Charter Inc (A) (Charter Communications)
Leverage must be between 2 and 20