Michael Burry, famed for his ‘Big Short,’ is grappling with significant losses stemming from his bearish stance on the semiconductor sector revealed in Q3.
His bet against the chip exchange-traded fund (ETF), SOXX, went awry as the fund soared to a new all-time high last month, undermining his put options.
Despite this setback, Scion Asset Management, led by Burry, still maintains several profitable positions, with the largest individual stock holding of the fund showing a notable 30% return, per data retrieved on January 2.
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Burry’s best-performing investments
Scion Asset Management’s largest individual stock holding is the automaker Stellantis (NYSE: STLA), which captures 17.43% of Scion’s portfolio, amounting to 400,000 shares, according to data from HedgeFollow.
The last time the hedge fund invested in Stellantis was in Q3 2023 when it purchased 75,000 of the company’s shares. At the current market price of $23.18, Scion’s STLA investment is up nearly 30% from the average buy price.
Scion’s best-performing stock is the real estate investment trust Hudson Pacific Properties (NYSE: HPP). With a 113% surge in the past 6 months, Burry secured a 71.1% return on this investment when compared to the average buy price.
Other stocks that delivered noteworthy returns to Burry and Scion include Booking Holdings (NASDAQ: BKNG), The RealReal (NASDAQ: REAL), and Crescent Energy Company (NYSE: CRGY). These three holdings are up 22.7%, 32.2%, and 21.5% from the average price at which Scion bought them.
Among them, BKNG is Scion’s new investment and also its third-biggest, capturing 10.54% of its portfolio.
Meanwhile, positions that are not doing as well include Chinese giants Alibaba Group (NYSE: BABA) and JD.com (NASDAQ: JD), down 8.9% and 8.7% compared with average buy prices, respectively.
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