Not long ago, Michael Burry’s “Scion Asset Management” held just one stock — a private prison company called Geo Group. Ever since then, his fund has been rebuilding positions in stocks that he feels are a good value — particularly, in Chinese stocks, and U.S. regional banks.
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BURRY BANKS ON THE BANKS
Last March, following the collapse of Silicon Valley Bank, Michael Burry publicly stated that he saw no serious risk of a banking crisis, and that the current trouble would resolve itself soon. Last quarter, which ended on March 31st, Burry bought a slew of the regional banks — likely in an attempt to buy the dip following SVB followout. Those banks included PacWest Bancorp, Huntington Bancshares, Capital One Financial, Western Alliance, New York Community Bancorp, and First Republic.
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Unfortunately for Burry, on May 1st, First Republic would become the next major bank to collapse — seized by regulators and sold to JPMorgan. First Republic’s collapse was the largest bank failure since 2008. Notably, Burry could have sold his position before the collapse — there’s no way to know. With that said, here are Michael Burry’s top 10 stocks in Q1 as of his most recent filing:
MICHAEL BURRY’S TOP 10 HOLDINGS
- JD.COM ($JD)
- ALIBABA ($BABA)
- SIGNET JEWELERS ($SIG)
- NEW YORK COMMUNITY BANCORP ($NYCB)
- ZOOM VIDEO ($ZM)
- CAPITAL ONE FINANCIAL ($COF)
- SIBANYE STILLWATER ($SBSW)
- LIBERTY LATIN AMERICA ($LILAK)
- CIGNA ($CI)
- COHERENT ($COHR)
