With Michael Burry’s bearishness over the previous two years, it’s stunning to see him take positions in new inventory positions within the first quarter of 2023 and, surprisingly, financial institution shares amongst his new reported positions. Whereas we don’t know his actual present place in Might 2023, we do know these had been his place going into April 1, 2023.

Prime 7 financial institution shares in Michael Burry’s portfolio:

• NYCB – New York Neighborhood Bancorp 7.19%
• COF – Capital One Monetary 6.74%
• WFC – Wells Fargo 4.37%
• WAL – Western Alliance Bancorp 4.15%
• PACW – PacWest Bancorp 2.28%
• FRCB – First Republic Financial institution 1.96%
• HBAN – Huntington Bancshares 1.94%

Beneath is his full portfolio of all shares he holds this yr as of his final reported 13f.

Chinese language shares are actually his two most important holdings

He additionally spent $37M on the banks, that means he purchased the dip within the first quarter.

Complete new buys: 19
Complete new sells: 6

Present Michael Burry Portfolio 2023 Q1 – Scion Asset Administration
Interval: Q1 2023
Portfolio date: March 31, 2023 (13f submitting)
Variety of shares: 21
Portfolio worth: $106,938,000

Firm/Ticker/Portfolio%

1. JD – JD.com Inc. 10.26%
2. BABA – Alibaba Group Holdings 9.56%
3. SIG – Signet Jewelers Ltd. 9.09%
4. NYCB – New York Neighborhood Bancorp 7.19%
5. ZM – Zoom Video Communications Inc. 6.90%
6. COF – Capital One Monetary 6.74%
7. SBSW – Sibanye Stillwater Ltd ADR 6.22%
8. LILAK – Liberty LiLAC Group C 6.18%
9. CI – Cigna Group 5.97%
10. COHR – Coherent Corp. 4.45%
11. WFC – Wells Fargo 4.37%
12. WAL – Western Alliance Bancorp 4.15%
13. CTRA – Coterra Power Inc. 3.44%
14. GEO – GEO Group Inc. 2.95%
15. NOV – Nov Inc. 2.49%
16. DVN – Devon Power Corp. 2.29%
17. PACW – PacWest Bancorp 2.28%
18. FRCB – First Republic Financial institution 1.96%
19. HBAN – Huntington Bancshares 1.94%
20. REAL – RealReal Inc. 0.81%
21. OVV – Ovintiv Inc. 0.76%[2]

Throughout the international monetary disaster of 2008, Michael Burry grew to become well-known for his wager in opposition to the housing market. Buyers in his fund Scion Capital made greater than $700 million. Burry personally made a $100 million revenue betting in opposition to mortgage-based securities. His story was instructed within the best-selling guide by Michael Lewis, “The Huge Brief,” which was made right into a blockbuster film the place Christian Bale performed his character.

Scion Capital returned 489.34% (web of charges and bills) between November 1, 2000, and June 2008, in comparison with a 3% whole return from S&P 500 throughout the identical time-frame. Ultimately, Burry closed his fund and retired.

5 years later, in 2013, Michael Burry reopened his fund with a barely modified title Scion Asset Administration. Burry’s funding type is finest described as traditional deep-value investing and shorting markets he sees as ridiculously overvalued by basic valuation metrics. Nevertheless, in his opinion, he’s not afraid to brief shares or purchase put choices which can be overvalued. [2]