Michael Burry, the visionary investor behind a legendary bet on the 2008 subprime mortgage crisis, made significant adjustments to his investment portfolio in the last quarter of 2023, according to the latest 13F filings.
Burry’s Scion Asset Management, known for its contrarian and value-oriented investment approach, has notably increased its stakes in Chinese retailers while also entering the AI-driven rally of two U.S. tech giants.
Burry’s Recent Moves
New Holdings
Burry’s portfolio welcomed 18 new stocks in the fourth quarter of 2023. Among the notable new entries are:
- HCA Healthcare IncHCA: 20,000 shares valued at $5.41 million, representing 5.72% of the portfolio.
- Oracle CorpORCL: 50,000 shares worth $5.27 million, accounting for 5.57% of his portfolio.
- Citigroup IncC: 100,000 shares with a total value of $5.14 million, making up 5.44% of the portfolio.
- CVS Health Corp.CVS: 65,000 shares valued at $5.1 million, comprising 5.43% of the portfolio.
- Alphabet Inc.GOOGL GOOG: 35,000 shares worth $4.89 million, 5.17% of the portfolio.
- Amazon.com Inc.AMZN: 30,000 shares valued at $4.56 million, making up 4.8% of the portfolio.
Major Position Increases
Significant increases were made in two major Chinese retail giants:
- JD.com IncJD: Burry added 75,000 shares, bringing his total to 200,000 shares. This 60% increase in share count has a 2.29% impact on his current portfolio, valued at $5.78 million.
- Alibaba Group Holding LtdBABA: Increased by 25,000 shares to a total of 75,000 shares, marking a 50% rise in share count with a valuation of $5.81 million.
These two Chinese retailers have now become the top two holdings in Burry’s portfolio, with weights of 6.17% and 6.1%, respectively, underscoring a strong conviction in the growth potential of China’s e-commerce and retail sectors.
Strategic Divestitures
- Option PUTS on Booking Holdings IncBKNG: All contracts sold.
- Option PUTS on iShares Semiconductor ETF puts SOXX: All contracts sold.
Additionally, Burry liquidated stock holdings in four companies:
- Hudson Pacific PropertiesHPP: Sold 400,000 shares.
- Stellantis NVSTLA: Exited 400,000 shares.
- Euronav NVEURN: Cleared 250,000 shares.
- Crescent Energy CompanyCRGY: Sold off 200,000 shares.
Major Position Reductions
Burry’s portfolio adjustments also include reductions in several holdings, pointing to a strategic shift in investment focus:
- Nexstar Media Group IncNXST: Reduced by 16,151 shares, a 33.2% decrease. This media company traded at an average price of $146.43 during the quarter.
- Star Bulk Carriers Corp.SBLK: Saw a reduction of 16,151 shares, a 11.92% decrease. The stock’s trading price averaged $19.36 during the quarter.
- Booking Holdings IncBKNG: A reduction of 250 shares, a 16.67% decrease, with the stock trading at an average price of $3,118.13 during the quarter.
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Michael Burry illustration created using artificial intelligence.
