Assuming he is still holding it, famed ‘Big Short’ investor Michael Burry is sitting on notable losses on his bearish position against the semiconductor sector, unveiled in Q3 2023.
His negative outlook on the chip exchange-traded fund (ETF), SOXX, backfired as the fund recently surged to record highs, undermining Burry’s put options.
Despite these setbacks, Scion Asset Management, under Burry’s leadership, maintains several rewarding positions. In this context, we delve into the hedge fund’s portfolio to pinpoint its top-performing stock holding, according to data retrieved on January 10.
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How much is Burry’s best performer up?
While his recent bets against ETFs haven’t gone as planned, a glance at Burry’s Scion Asset Management’s portfolio reveals several profitable moves.
Notably, the hedge fund’s best-performing stock at the moment is Hudson Pacific Properties (NYSE: HPP), a West Coast real estate investment trust (REIT). Though the stock witnessed some declines in recent days, its performance in the past 6 months remains nothing short of impressive.
During this period, HPP surged by around 85% to $9.20, propelling its market valuation to $1.3 billion, according to Google Finance data.
As a result, Hudson Pacific became the best-performing equity within Burry’s holdings. According to HedgeFollow data, it is up nearly 70% from $5.44 – the average price at which Scion purchased the stock.
Scion owns 400,000 HPP shares, amounting to a total market value of $2.66 million. The stock accounts for 6.06% of the fund’s portfolio. The investment giant first invested in Hudson Pacific in Q2 2023, when it purchased 250,000 shares, before boosting its stake by 60% in the next quarter.
Other profitable positions in Burry’s portfolio
It should be noted that HPP is not the only well-performing stock that Burry invested in.
Notably, Scion’s largest individual stock holding, automaker Stellantis (NYSE: STLA), is up more than 24% from the average buy price, per HedgeFollow. Similarly, shares of Booking Holdings (NASDAQ: BKNG), The RealReal (NASDAQ: REAL), and Crescent Energy Company (NYSE: CRGY) are also well in the green. These three stocks are up 20.6%, 27.6%, and 11.8% from the average price at which Scion bought them, respectively.
Meanwhile, the fund’s bets on Chinese internet giants Alibaba (NYSE: BABA) and JD.com (NYSE: JD) are down 15.3% and 20%, respectively.
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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.
