Michael Burry – Portfolio Update – Q4 2023
Michael Burry, the renowned hedge fund manager known for inspiring “The Big Short,” disclosed his portfolio holdings for Q4 2023. The disclosure reveals that he closed his remaining short positions, notably those involving put positions, in the SOXX ETF. The ETF that tracks the Semiconductor Index, which comprises the 30 largest companies involved in the design, distribution, manufacture, and sale of semiconductors.
This move follows his earlier decision to exit significant short positions against the S&P 500 and Nasdaq during the third quarter. These actions imply that Burry is stepping back from betting against the market, especially in the context of the S&P 500 hitting record highs and NVIDIA (NVDA) capturing attention with its remarkable performance.
Burry’s recent filings also show that he now maintains 25 active positions across various sectors, with his most significant investments being in Chinese e-commerce giants Alibaba (BABA) and JD.com (JD). This quarter saw Burry expanding both of these positions, adding 25,000 shares to his Alibaba position and 75,000 shares to JD.com, bringing their portfolio allocations to 6.15% and 6.11%, respectively. This investment strategy reflects his positive outlook on the Chinese market, even in the face of a downturn that has brought Chinese stocks close to their lowest levels historically.
Michael Burry’s Top 10 Holdings:
Source: SEC Filings
New Positions:
According to its latest 13-F filing, Burry’s Scion Asset Management initiated 18 new investments. Among these, the most noteworthy new buys are in:
- HCA Healthcare ($HCA), a leading healthcare services provider, with an investment of $5.41 million.
- Oracle ($ORCL), a multinational computer technology corporation, with $5.42 million.
- Citigroup ($C), a global banking and financial services corporation, with $5.14 million.
- CVS Health ($CVS), an American healthcare and retail pharmacy company, with $5.13 million.
- Alphabet ($GOOGL), the parent company of Google, with $4.89 million.
Additionally, Burry expanded his portfolio by opening positions in the following companies:
- Amazon.com ($AMZN)
- MGM Resorts International ($MGM)
- Advance Auto Parts ($AAP)
- Warner Bros Discovery (4WBD)
- Vital Energy ($VTLE)
- Block Inc ($SQ)
- Bruker Corp ($BRKR)
- Toast Inc ($TOST)
- Mettler-Toledo International ($MTD)
- American Coastal Insurance ($ACIC)
- Big Lots ($BIG)
- GEN Restaurant Group ($GENK)
- Qurate Retail ($QRTEA)
Closed Positions:
In the fourth quarter, apart from liquidating his short positions in SOXX and BKNG, Michael Burry also exited long positions in four distinct companies:
- Stellantis NV ($STLA), an automotive conglomerate formed from the merger of Fiat Chrysler Automobiles and PSA Group, worth noting that Stellantis was the portfolio’s largest long position in Q3.
- Euronav NV ($EURN), one of the largest tanker companies in the world specializing in the transportation and storage of crude oil.
- Hudson Pacific Properties Inc ($HPP), a real estate investment trust focusing on office and media properties in the West Coast and Pacific Northwest.
- Crescent Energy Co ($CRGY), an energy company involved in the exploration and production of oil and gas.
Conclusion
Michael Burry’s fourth quarter 2023 portfolio update showcases a significant shift in his investment strategy. By unwinding his short positions in the semiconductor sector and moving away from shorting major indices, Burry indicates a considerable change in his market outlook. His portfolio remains highly dynamic, with a high turnover evident from the fact that, of the 25 positions held at the beginning of 2023, only 3 remain by the end of the fourth quarter.
Burry’s actions continue to attract attention from investors and analysts, providing a window into the strategy of one of the investment community’s most closely observed figures.
