‘Big Short’ Investor Michael Burry Bets Heavy On Gold, Renewable Energy Stocks, Exits Amazon, Alphabet

May 16, 2024 | blog

'Big Short' Investor Michael Burry Bets Heavy On Gold, Renewable Energy Stocks, Exits Amazon, Alphabet

‘Big Short’ Investor Michael Burry Bets Heavy On Gold, Renewable Energy Stocks, Exits Amazon, Alphabet

Michael Burry, the legendary investor who famously predicted the 2008 monetary disaster, has as soon as once more made headlines together with his newest 13F submitting for his hedge fund Scion Asset Management LLC.

The first quarter of 2024 reveals a strategic recalibration in direction of bodily commodities and renewable vitality, whereas Burry shifted away from some tech giants.

The complete market worth of Scion’s 13F securities elevated from $94.6 million to $103.49 million. The fund’s exercise included 5 new purchases, additions to 11 current positions, and full sell-offs of 14 shares.

Top 5 Buys: A Golden Bet On Gold And Clean Energy

Burry’s high buys for Q1 2024 reveal a transparent pivot in direction of bodily treasured metals and clear vitality, underscoring his anticipation of rising worth in these sectors.

Leading the cost is the Sprott Physical Gold Trust ETV (NYSE:PHYS), with Scion growing its place by $7.62 million, marking a 7.37% change within the portfolio. This substantial funding highlights Burry’s confidence in gold as a hedge towards financial uncertainty. The aforementioned gold fund has delivered a 16% return yr so far, outperforming the broader inventory market, as tracked by the SPDR S&P 500 ETF Trust (NYSE:SPY), which rose by 12%.

Next in line is Cigna Holding Co (NYSE:CL), the place Scion elevated its stake by $7.26 million, representing a 7.02% portfolio change. This transfer displays Burry’s continued perception within the resilience and progress potential of the healthcare sector.

Reflecting confidence within the vitality sector, Burry added $6.59 million value of BP Plc ADR (NYSE:BP), translating to a 6.37% portfolio change. This funding signifies Burry’s recognition of BP’s sturdy place within the world vitality market, particularly amid BP’s transition to cleaner vitality sources.

Last week, the British vitality firm’s electrical automobile charging unit introduced plans to amass Tesla Inc. (NASDAQ:TSLA) supercharging websites within the US as a part of its growth efforts.

Burry’s dedication to renewable vitality is additional emphasised by a $5.06 million improve in First Solar Inc. (NYSE:FSLR), representing a 4.89% change within the portfolio. This transfer aligns with the worldwide shift in direction of sustainable vitality options, showcasing Burry’s foresight in capitalizing on this rising development.

Rounding out the highest 5 buys is Baidu Inc ADR (NASDAQ:BIDU), with a $4.38 million addition, marking a 4.07% portfolio change. This funding underscores Burry’s confidence within the long-term potential of Chinese know-how corporations.

In his This fall 2023 13F submitting, Burry elevated stakes in two main Chinese retail giants, Inc (NASDAQ:JD) and Alibaba Group Holdings (NASDAQ:BABA).

At the top of the primary quarter 2024, Burry additional elevated his stakes in these two giants, buying a further 160,000 shares of and 50,000 shares of Alibaba.

Top 5 Portfolio Divestments: Burry Trims Tech Giants

Burry made notable divestments in a number of high-profile tech shares through the first quart.

Oracle Corp (NASDAQ:ORCL) tops the record, with Scion lowering its holdings by $5.77 million, a 5.57% change within the portfolio.

CVS Health Corp (CVS) adopted intently, with a $5.62 million discount, a 5.43% change within the portfolio. This transfer would possibly replicate considerations over potential challenges within the healthcare sector.

Nexstar Media Group (NASDAQ:NXST) ranked third when it comes to largest gross sales, with Burry decreasing the stake by $5.57 million (5.39% change).

Notably, Burry opted to utterly exit his positions in two main U.S. tech giants, suggesting a reevaluation of their progress prospects following a powerful rally.

Alphabet Inc. (NASDAQ:GOOGL) noticed a full divestment, with Burry promoting $5.35 million value of shares (a 5.17% change).

Similarly, Inc. (AMZN) skilled an entire exit, with a $4.99 million discount, representing a 4.82% portfolio change. This transfer highlights Burry’s cautious stance on the long run efficiency of one of many world’s largest e-commerce platforms.

Portfolio Summary

The high 5 holdings by weight within the Scion Asset Management LLC’s portfolio by the top of the Q1 2024 are:

  1. Inc: 9.53%.

  2. Alibaba Group Holding Ltd: by 8.74%.

  3. HCA Healthcare Inc (NYSE:HCA): 8.06%.

  4. Citigroup Inc (NYSE:C): 7.64%.

  5. Sprott Physical Gold Trust: 7.37%.

Read now: Warren Buffett’s Berkshire Confirms Apple Sale, Dumps This PC Maker, Finally Reveals Mystery Stock: Here Are The Portfolio Changes To Know

Image created utilizing synthetic intelligence by way of Midjourney.

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