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'Big Short' investor Michael Burry added these 5 new stocks to his portfolio in the first quarterhttps://www.businessinsider.in/stock-market/news/aposbig-shortapos-investor-michael-burry-added-these-5-new-stocks-to-his-portfolio-in-the-first-quarter/slidelist/75906304.cms2020-05-23T01:51:10+05:30

'Big Short' investor Michael Burry added these 5 new stocks to his portfolio in the first quarter

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Matthew FoxMay 23, 2020, 01:51 IST

'Big Short' investor Michael Burry added these 5 new stocks to his portfolio in the first quarter — Andrew Toth/Getty Images
Michael Burry — the famed investor portrayed by Christian Bale in "The Big Short" — added 5 new stocks to his hedge fund portfolio in the first quarter, according to a 13F filing from last week.
While Burry's largest holding remains Gamestop, he added new stakes in companies that were negatively impacted by the coronavirus pandemic, like Boeing.
Burry's Scion Asset Management has $387 million in assets under management as of March 31.
Read more on Business Insider.
Michael Burry — the famed investor portrayed by Christian Bale in "The Big Short" — added five news stocks to his hedge fund in the first quarter, according to a 13F filed with the SEC last week.
Burry's hedge fund, Scion Asset Management, had $387 million in assets as of March 31, and its biggest investment is Gamestop, which represents nearly 18% of Scion's portfolio.
Amid the coronavirus pandemic and market sell-off, Burry added some new large cap stakes into his portfolio, including Boeing, which sold off more than 50% in the first quarter.
Back in March, Burry revealed in an interview with Bloomberg that he made a significant bearish bet that was paying off amid the market sell off.
Listed below are the five new stocks Michael Burry added to his portfolio in the first quarter.
Read more: GOLDMAN SACHS: Buy these 21 cheap under-the-radar stocks that offer market-beating growth potential right now
Read the original article on Business Insider

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1. Jack in the Box

1. Jack in the Box — David McNew/Getty
Ticker: JACK
Sector: Consumer Discretionary
Position Market Value: $10.5 million
Percent of Scion's Portfolio: 12.21%
Source: SEC 13F filing

2. Facebook

2. Facebook — Toby Melville/Reuters
Ticker: FB
Sector: Communications
Position Market Value: $10.0 million
Percent of Scion's Portfolio: 11.62%
Source: SEC 13F filing
Read more: 'We have a depression on our hands': The CIO of a bearish $150 million fund says the market will grind to new lows after the current bounce is over — and warns 'a lot more pain' is still to come

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3. Boeing

3. Boeing — Jeff Vinnick/Reuters
Ticker:BA
Sector: Industrials
Position Market Value: $8.95 million
Percent of Scion's Portfolio: 10.39%
Source: SEC 13F filing

4. The Michael's Companies

4. The Michael's Companies — Mark Wilson/Getty Images
Ticker: MIK
Sector: Consumer Discretionary
Position Market Value: $5.27 million
Percent of Scion's Portfolio: 6.11%
Source: SEC 13F filing
Read more: Buy these 13 tech stocks that are abnormally disconnected from Wall Street's expectations for profit growth and poised to rocket higher, Credit Suisse says

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5. Discovery

5. Discovery — The Discovery Channel
Ticker: DISCA
Sector: Communications
Position Market Value: $6.8 million
Percent of Scion's Portfolio: 7.90%
Source: SEC 13F filing

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