Michael Burry’s Scion Asset Management bought 3 shares in the third quarter of 2023 and sold 23 others. He also bought a stake in Chinese eCommerce giant Alibaba.
Burry is an American investor and hedge fund manager who rose to fame for his successful bets against the subprime mortgage market before the 2008 financial crisis.
He was born in San Jose, California, in 1971 and received his Bachelor’s degree in Economics from the University of California, Los Angeles.
He later went on to earn his Doctor of Medicine degree from the Vanderbilt University School of Medicine.
After completing his residency in neurology, Burry began his finance career by managing his personal investments. In 2000, Burry founded Scion Asset Management, a hedge fund focused on value investing.
He gained widespread attention for his successful bets against the subprime mortgage market in the mid-2000s.
It was chronicled in the book ‘The Big Short’ and the subsequent movie adaptation starring Christian Bale, Steve Carell, Ryan Gosling, and Brad Pitt.
Burry’s foresight in recognizing the flaws in the housing market allowed him to make significant profits for his investors.
His investment strategy involves identifying companies that he believes are undervalued by the market and investing in them long-term.
He often takes contrarian positions, investing in companies that are unpopular or out of favour with other investors.
Burry’s approach requires a deep understanding of the companies he invests in and a willingness to hold onto positions for an extended period.
Today, investors and financial analysts closely watch Burry’s stock portfolio.
Scion’s latest Form 13F filings with the United States Securities and Exchange Commission revealed that Burry significantly reduced his holdings in the third quarter of this year.
The Scion portfolio now consists of only 11 companies with a value of $43.90 million.
Scion Asset Management share portfolio
The table below shows Michael Burry’s Scion Asset Management’s share portfolio on 30 September 2023.
|STLA – Stellantis N.V.||17.43%||Add 23.08%||$7,652,000|
|NXST – Nexstar Media Group||15.89%||Add 224.34%||$6,975,000|
|SBLK – Star Bulk Carriers Corp||10.98%||Add 35.33%||$4,820,000|
|BKNG – Booking Holdings Inc.||10.54%||Buy||$4,626,000|
|BABA – Alibaba Group Holdings||9.88%||Buy||$4,337,000|
|EURN – Euronav NV||9.38%||Add 372.59%||$4,108,000|
|JD – JD.com Inc.||8.29%||Buy||$3,641,000|
|HPP – Hudson Pacific Properties Inc.||6.06%||Add 60.00%||$2,660,000|
|CRGY – Crescent Energy Inc A||5.76%||Reduce 18.02%||$2,528,000|
|REAL – RealReal Inc.||3.61%||Reduce 50.00%||$1,583,000|
|SB – Safe Bulkers Inc||2.21%||Add 135.25%||$972,000|