The investing world saw only a few names gain as much notoriety as Michael Burry.
Since his remarkable foresight in predicting the catastrophic collapse of the housing market in 2008, he has ascended to a level of prominence that a handful of investors in the world can claim. With a global following, his every word and investment move is scrutinized by the investing community.
In August 2023, Burry once again sent shockwaves through the market when he unveiled a major bearish bet against the US stock market.
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This revelation was also accompanied by other significant adjustments to his portfolio. That said, today, on November 1, Finbold explores the performance of Burry’s rich stock portfolio to identify the biggest winners, but also the worst-performing names.
Burry’s biggest winners
Although many of his controversial decisions and predictions in recent years have been scrutinized by investors and analysts, Burry’s capabilities to identify potential winners in the stock market are still very much alive.
One of the names that has been doing particularly well is the telecom giant Charter Communications (NASDAQ: CHTR). Burry’s hedge fund Scion Asset Management acquired 25,000 CHTR shares at an average price of $341.23, according to Stockcircle data.
Since then, the stock gained around 18% and currently trades at $402.80 apiece. Assuming he is still holding the stock, that represents a noteworthy profit for Burry.
Another stock that stands out in terms of performance is the less-known Geo Group (NYSE: GEO), a US corporation that invests in private prisons and mental health facilities. Although Burry already owned GEO since 2022, he hiked his stake in the company this summer by buying 200,000 more shares, taking his total holdings to 600,000.
At the time of writing, shares of Geo Group were standing at $8.87, around 22% higher than $7.25 – the average price at which Scion Asset acquired the stock.
Among others, stocks that turned into the biggest winners for Burry’s hedge fund also include the carmaker Stellantis (NYSE: STLA), Precision Drilling Corp (NYSE: PDS), and Cigna Group (NYSE: CI). The current prices of these three stocks are currently 11.4%, 21.6%, and 7.2% higher than Burry’s average buying prices, respectively.
Worst performing stocks
Meanwhile, there are several names in Burry’s portfolio that haven’t been doing particularly well.
Most notably these include, MGM Resorts (NYSE: MGM), Generac Holdings (NYSE: GNRC), and Warner Bros. Discovery (NASDAQ: WBD), which are currently 18.3%, 26.3%, and 23.4% in the red compared to the average buying price at which Scion acquired them.
Other stocks that fall into this category are Nexstar Media Group (NASDAQ: NXST) and iHeartMedia (NASDAQ: IHRT), which plummeted 15.5% and 29.3%.
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Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
