MICHAEL BURRY'S PORTFOLIO

MICHAEL BURRY'S SCION ASSET MANAGEMENT 2023 Q3 PORTFOLIO

Scion Asset Management, a hedge fund managed by Michael Burry, disclosed 11 security holdings in their SEC 13F filing for the third quarter of 2023, with a total portfolio value of $43,902,000

 

Top 10 Holdings

As of September 30, 2023, Burry’s top 10 holdings were:

  1. STELLANTIS NV (STLA) – 17.43%
  2. NEXSTAR MEDIA GROUP INC-CL A (NXST) – 15.89%
  3. STAR BULK CARRIERS CORP (SBLK) – 10.98%
  4. BOOKING HOLDINGS INC (BKNG) – 10.54%
  5. ALIBABA GROUP HOLDING-SP ADR (BABA) – 9.88%
  6. EURONAV NV (EURN) 9.36%
  7. JD.COM INC (JD) – 8.29%
  8. HUDSON PACIFIC PROPERTIES INC (HPP) – 6.06%
  9. CRESCENT ENERGY Inc A (CRGY) – 5.76 %
  10. REALREAL INC (REAL) – 3.61%

Company Analysis

STELLANTIS NV (STLA)

  • Stellantis is a leading automotive manufacturer with a strong presence in Europe and North America. The company is benefiting from the shift to electric vehicles and is expected to see strong growth in the coming years. As the automotive industry shifts towards electric vehicles and more efficient models, Burry’s investment might indicate a belief in Stellantis’ potential to capitalize on these trends.

NEXSTAR MEDIA GROUP INC-CL A (NXST)

  • Nexstar is a leading television broadcasting company with a strong portfolio of local stations. The company is benefiting from the growth of streaming services and is expected to see strong growth in advertising revenue in the coming years. With the ongoing demand for content and digital advertising, an investment here could reflect a forecast of steady revenue streams from broadcasting and digital ads.

STAR BULK CARRIERS CORP (SBLK)

  • Star Bulk Carriers is a leading dry bulk shipping company with a fleet of over 100 vessels. The company is benefiting from the strong demand for dry bulk commodities, such as iron ore and coal. The shipping industry can be volatile, but it’s also crucial for global trade. Investment in this sector may be driven by expectations of growth in international commerce or cyclic recovery in shipping rates.

BOOKING HOLDINGS INC (BKNG)

  • Booking Holdings is a leading online travel agency with a strong portfolio of brands, including Booking.com, Priceline, and Agoda. The company is benefiting from the recovery of the travel industry and is expected to see strong growth in the coming years. Burry might be banking on a surge in travel demand as the world emerges from COVID-19 restrictions.

ALIBABA GROUP HOLDING-SP ADR (BABA)

  • Alibaba is a leading e-commerce company with a strong presence in China. The company is benefiting from the growth of e-commerce in China and is expected to see strong growth in the coming years. Despite regulatory pressures, the company’s significant market share in China and expansion into other markets and sectors could be attractive for long-term growth.

EURONAV NV (EURN)

  • Euronav NV is a leading independent tanker company engaged in the transportation and storage of crude oil worldwide. Investments in this sector might be based on expectations of international oil trade dynamics and tanker rate fluctuations.

JD.COM INC (JD)

  • JD.com is another leading e-commerce company in China. The company is benefiting from the same trends as Alibaba. An investment in JD.com could be a play on the growth of e-commerce in China and globally.

CRESCNET ENERGY Inc-A (CRGY):

  • Crescent Energy is an independent energy company engaged in the acquisition and development of oil and gas properties. Investment in energy companies can be tied to forecasts of energy prices and the expectation of efficient resource management.

HUDSON PACIFIC PROPERTIES INC (HPP)

  • Hudson Pacific Properties is a real estate investment trust (REIT) that specializes in investing in retail and mixed-use properties. The company is benefiting from the recovery of the retail industry and is expected to see strong growth in the coming years. Burry’s investment here could be driven by the potential for long-term growth in commercial real estate, particularly in strategic locations.

REALREAL INC (REAL)

  • RealReal is an online marketplace for luxury goods. The company is benefiting from the growing popularity of online shopping for luxury goods. An investment in this company might reflect a belief in the growth of sustainable consumption trends and the circular economy, particularly in the luxury segment.

Overall, Burry’s current portfolio suggests that he is bullish on following sectors: Transportation,  E-commerce, Retail and Real Estate

PORTFOLIO HISTORY CHART

MICHAEL BURRY'S SCION ASSET MANAGEMENT 2023 Q2 PORTFOLIO

Scion Asset Management, a hedge fund managed by Michael Burry, disclosed 31 security holdings in their SEC 13F filing for the second quarter of 2023, with a total portfolio value of $111 million

 

Top 10 Holdings

As of June 30, 2023, Burry’s top 10 holdings were:

  1. Expedia Group (EXPE) – 9.82%

  2. Charter Communications (CHTR) – 8.25%

  3. Generac Holdings (GNRC) – 7.37%

  4. Cigna Corporation (CI) – 6.93%

  5. CVS Health Corporation (CVS) – 6.21%

  6. MGM Resorts International (MGM) – 5.53%

  7. Stellantis (STLA) – 5.33%

  8. Vital Energy Inc. (VTLE) – 4.57%

  9. Signature Bank (SBNY) – 4.32%

  10. Liberty Broadband Corporation (LBRDA) – 4.11%

Michael Burry’s current portfolio is focused on a few key themes, including:

Value stocks: Burry is attracted to companies that are trading below their intrinsic value. He believes that these companies are undervalued because the market is underestimating their long-term prospects.

Defensive stocks: Burry also owns a number of defensive stocks, which are companies that are less sensitive to economic downturns. These stocks can provide investors with a cushion during market volatility.

Healthcare stocks: Burry is bullish on the healthcare industry, which he believes is poised to grow in the coming years. He owns a number of healthcare stocks, including insurers, drugmakers, and medical device companies.

Company Analysis

Expedia Group (EXPE)is a travel company that operates online travel agencies such as Expedia, Hotels.com, and Vrbo. Burry may have invested in Expedia because he believes that the travel industry will continue to recover from the COVID-19 pandemic. He may also be attracted to Expedia’s strong brand recognition and its large customer base.

Charter Communications (CHTR) is a cable and internet service provider. Burry may have invested in Charter because he believes that the company is well-positioned to benefit from the growth of streaming services and the increasing demand for high-speed internet. Charter also has a strong track record of profitability and free cash flow generation.

Generac Holdings (GNRC) is a manufacturer of generators and other power products. Burry may have invested in Generac because he believes that the company will benefit from the increasing demand for backup power generation. Generac’s products are also in high demand in areas that are prone to power outages.

Cigna Corporation (CI) is a health insurance company. Burry may have invested in Cigna because he believes that the company is well-positioned to benefit from the aging population and the increasing demand for healthcare services. Cigna also has a strong track record of profitability and dividend growth.

CVS Health Corporation (CVS) is a pharmacy chain and healthcare services provider. Burry may have invested in CVS because he believes that the company is well-positioned to benefit from the aging population and the increasing demand for healthcare services. CVS is also expanding its reach into the telehealth market, which is another area of growth for the company.

MGM Resorts International (MGM) is a casino and resort operator. Burry may have invested in MGM because he believes that the company will benefit from the recovery of the travel and leisure industry. MGM also has a strong track record of profitability and free cash flow generation.

Stellantis (STLA) is an automobile manufacturer. Burry may have invested in Stellantis because he believes that the company is well-positioned to benefit from the shift to electric vehicles. Stellantis also has a strong track record of profitability and free cash flow generation.

Vital Energy Inc. (VTLE) is a renewable energy company. Burry may have invested in VTLE because he believes that the company is well-positioned to benefit from the transition to clean energy. VTLE is also developing new technologies, such as battery storage, which could be in high demand in the future.

Signature Bank (SBNY) is a commercial bank. Burry may have invested in SBNY because he believes that the company is well-capitalized and has a strong track record of profitability. SBNY also has a niche focus on serving technology companies, which is a growing sector.

Liberty Broadband Corporation (LBRDA) is a broadband and wireless communications company. Burry may have invested in LBRDA because he believes that the company is well-positioned to benefit from the growth of the internet and the increasing demand for mobile broadband. LBRDA also has a strong track record of profitability and free cash flow generation.

Overall, Burry’s portfolio suggests that he is bullish on the consumer sector, the healthcare sector, and the technology sector. He is also investing in companies that are benefiting from long-term trends, such as the shift to online shopping, the aging population, and the transition to clean energy.

PORTFOLIO HISTORY CHART

Scion Asset Management, LLC, Q2 2023 SEC FILLINGS

Source: Sec.gov