Back in February, the filing of the 13-f document for Michael Burry’s Scion Asset Management caused quite a stir as it revealed that ‘The Big Short’ investor had not only given up on his large bet against the semiconductor industry but also tool more than a dozen long positions during the final trimester of 2023.
The same type of document covering the first quarter of 2024, unveiled in mid-May, provided its own string of revelations, including that – despite the company mostly either dropping or stagnating in the stock market for more than half a year – Burry has held on to Alibaba (NYSE: BABA), while significantly cutting the number of stocks held in other areas.
With the new 13-f available for examination, Finbold decided to take a closer look at what the ‘The Big Short’ investor has been trading throughout the initial three months of 2024.
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Burry’s biggest positions
As has been the case in the previous quarter, the Chinese companies Alibaba and JD.com (NASDAQ: JD) remain Michael Burry’s largest individual holdings with the latter overtaking the former to take the top spot.
Furthermore, Burry increased his investments in both companies, adding 50,000 BABA shares and 160,000 JD shares. The former, now totaling 125,000 shares, is worth, at press time, approximately $10 million, while the latter, totaling 360,000, is worth $12 million.
The other two major positions – HCA Healthcare (NYSE: HCA) and Citigroup (NYSE: C) – were also increased, with Burry now holding 25,000 HCA shares worth $8 million and 125,000 C shares worth $8 million.
Burry trims the number of stocks
The first quarter of 2024 also appears to have been one of consolidation given that Burry significantly reduced the number of companies the stock of which he is holding. In total, ‘The Big Short’ investor sold his entire stake in 14 firms.
The biggest and most prominent among these are the e-commerce giant Amazon (NASDAQ: AMZN) and the technology blue-chip Google (NASDAQ: GOOGL). Burry also sold a string of entertainment stocks, such as MGM Resorts (NYSE: MGM) and Warner Bros Discovery (NASDAQ: WBD).
Perhaps the most interesting of the sales is that of the GEN Restaurant Group (NASDAQ: GENK). GENK drew a great deal of attention in the early months of 2024, given that it is both a relatively small and unknown company and has been a particularly strong performer which is, at press time, up as much as 53.91% on the year-to-date (YTD) chart.
Burry’s new positions
Though he acquired nowhere near as many new stocks as in Q4 2023, the 13-f unveiled in mid-May is not bereft of new positions.
The first of the new holdings comes in the form of the Sprott Physical Gold Trust (PHYS), the investment which was, at the time of filing, worth $7.6 million and accounted for 7.4% of the entire portfolio.
The second major new addition, accounting for 7% of the portfolio at the end of Q1, is the healthcare and insurance giant Cigna Group (NYSE: CI).
Burry also bought stocks of two rather different energy companies – BP plc (LON: BP) and First Solar (NASDAQ: FSLR) – the first being an oil and fossil fuels giant and the second a major manufacturer of solar panels and utility-scale power plants.
Finally, Burry also opened a position in yet another Chinese technology giant – Baidu (NASDAQ: BIDU). Unlike his BABA and JD holdings, the position in BIDU is, at the time of publication, relatively small and comes in at 40,000 shares worth $4.4 million.
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