Big Short's Burry Liquidates ~$200M in Long Stock Bets, Now Has Just One Stock
- Futures muted as investors eye payrolls data for interest rate clues
- Bernstein's best idea for 2024? Short Tesla stock
- Analysts defend Broadcom as annual guidance falls short after FQ4 earnings beat
- Microsoft (MSFT) dips as UK's CMA seeks views on partnership with OpenAI
- 3 reasons why Morgan Stanley expects continued Apple stock outperformance
The recent bearish views expressed by Michael Burry, the investor made famous by the movie "The Big Short", is apparently not just lip service, according to the latest SEC filing from his Scion Asset Management. The filing, made Monday on form 13F, showed that the hedge fund completely liquidated all of the 12 positions it owned as of the end of the first quarter.
Positions the firm owned at the end of the first quarter included Alphabet (NASDAQ: GOOGL), Apple (NASDAQ: AAPL), Booking Holdings (NASDAQ: BKNG), Bristol-Myers Squibb (NYSE: BMY), and Cigna Corp. (NYSE: CI), among others. As of the end of the second quarter, which the new filing covers, the firm owned just one stock - The GEO Group, Inc. (NYSE: GEO). This was a new position.
The value of the positions liquidated was worth about $200 million at the end of March. As of the end of June, his portfolio of long stocks was worth just over $3 million. Short positions are not required to be disclosed in 13Fs. It is unclear if Burry's firm has any current outstanding short bets.
Burry has expressed his very bearish views about the stock market on Twitter as of late. On August 4th, he said that the 'silliness is back' in markets, and on August 12th he cautioned about rising consumer credit.
“Net consumer credit balances are rising at record rates as consumers choose violence rather than cut back on spending in the face of inflation,” Burry tweeted at that time. “Remember the savings glut problem? No more. COVID helicopter cash taught people to spend again, and it’s addictive. Winter coming," Burry said the recent market rally is just a bear market rally and consistent with prior bear market rallies.
By StreetInsider.com Staff
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- AI sentiment toward Google seen improving rapidly after Gemini launch; Shares gain
- Repligen (RGEN) Announces Private Convertible Transaction of $600 Million Principal Amount of 1.00% Convertible Senior Notes Due 2028
- Edwards Lifesciences (EW) sees FY24 adjusted earnings per share of $2.70 - $2.80
Create E-mail Alert Related CategoriesHedge Funds, Hot List, Trader Talk
Related EntitiesTwitter, Michael Burry
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!