The real-life hero from 'The Big Short' dumped Apple and bought Alphabet

Julia La Roche
0
Actor Christian Bale (left) played hedge fund manager Dr. Michael Burry (right) in the movie “The Big Short.”
Actor Christian Bale (left) played hedge fund manager Dr. Michael Burry (right) in the movie “The Big Short.”

The real-life hero from “The Big Short,” Dr. Michael Burry, the founder of hedge fund Scion Asset Management, just filed the stocks he’s been buying and selling.

According to his fund’s 13-F for the second quarter, Burry exited his positions in Apple (AAPL), First Solar (FSLR), Tailored Brands (TLRD), and Gentherm Incorporated (THRM).

During the first quarter, Burry initiated new positions in Alphabet (GOOG) and NeoPhotonics Corporation (NPTN), the filing shows.

His largest holding is NexPoint Residential Trust (NXRT), which he’s held since the fourth quarter of 2015.

Scion started filing 13-Fs with the Securities and Exchange Commission earlier this year.

Burry first garnered attention for his investing acumen during the late 1990s from posts he wrote about stocks on the message board website Silicon Investor. In late 2000, he left the medical profession to launch his hedge fund, Scion Capital.

His story and famed bet against the housing market is chronicled in Michael Lewis’ best-selling book “The Big Short,” which was later adapted into an Oscar-winning movie. Burry was among a handful of Wall Street outsiders who made millions by betting against subprime housing by buying up credit-default swaps on mortgage bonds.

After his successful bet against subprime, Burry closed Scion Capital to focus on his own investments.

Hedge funds of a certain size are required to disclose their long equity holdings in these 13-F filings 45 days after the end of each quarter. They are not required to disclose their short bets.

—
Julia La Roche is a finance reporter at Yahoo Finance.

Read more:

Why hedge fund billionaire Leon Cooperman is warning young people to avoid the fund management industry

Billionaire Rubenstein: These 6 traits will help you succeed on Wall Street

How a $650,100 lunch with Warren Buffett changed one hedge fund manager’s life

Warren Buffett once said these are 2 of the more important decisions you’ll make in life

Dan Loeb: Managing money in the past year has been like ‘Game of Thrones’

Advertisement

Recommended Stories

  • Bitcoin Plunges. Here’s Why and How Far Prices Could Fall.

    Bitcoin sells off alongside stocks amid wider market jitters. But now the technical backdrop for cryptos is even weaker.

  • Are You On Track To Join The Top 1% In Retirement Savings? Here's How Much They Have At Every Age

    While many Americans struggle to save for retirement, the top 1% amass significant nest eggs. This raises the question: How much do they save, and how does it compare to the national average? Don't Miss: The average American couple has saved this much money for retirement — How do you compare? Can you guess how many Americans successfully retire with $1,000,000 saved? The percentage may shock you. Data from DQYDJ, using Federal Reserve statistics, highlights that the average retirement age in th

  • Pfizer Stock Rises as Outlook Raised After Earnings Beat

    Pfizer stock was rising Wednesday after the vaccine maker beat first-quarter earnings expectations and raised its adjusted profit outlook for the year. Pfizer reported first-quarter adjusted earnings of 82 cents a share on revenue of $14.88 billion. “We delivered strong performance in our non-Covid product portfolio in the first quarter of 2024,” Chief Executive Albert Bourla said in a press release.

  • Tesla lays off executives, cuts Supercharger division

    Tesla fired two key executives and trimmed hundreds of staff, gutting its Supercharger program, a leaked email shows.

  • Like Realty Income? This Competitor Has an Even Better Dividend Track Record

    Realty Income is the leader in the net lease REIT industry, but there's an important area where it is not No. 1.

  • Pfizer lifts profit view on cost cuts, smaller drop in demand for COVID products

    Shares of the U.S. drugmaker have lost 11% of their value this year on worries over its growth after the pandemic as billions of dollars in COVID vaccine and treatment sales evaporated. Pfizer reiterated its annual revenue forecast of $8 billion from the sale of COVID-19 shot Comirnaty and anti-viral treatment Paxlovid. Revenue from Comirnaty, for which it partners with Germany's BioNTech, continues to perform consistently with its expectations, Pfizer said.

  • Artificial Intelligence (AI) Isn't Going Anywhere. Here Are 3 Stocks to Buy and Hold for Decades.

    These companies are behind the creation and power of AI models that are changing our world.

  • CVS cuts 2024 profit forecast as insurance unit faces soaring medical costs

    (Reuters) -CVS Health Corp slashed its annual profit forecast and missed Wall Street estimates for first-quarter earnings on Wednesday, as elevated demand for medical procedures fueled higher costs at its Aetna health insurance business. The U.S. healthcare giant cut its per-share adjusted earnings forecast for 2024 to at least $7.00 from at least $8.30, adding it anticipates the surge in procedures to persist. U.S. health insurers have had to contend with rising medical costs over the past few quarters following higher demand for procedures, especially among older adults, that were delayed during the pandemic.

  • SoFi Stock: Time to Abandon Ship or Buy the Dip?

    SoFi's stock is dropping like a rock, which may be an opportunity.

  • 3M Is ‘Resetting’ Its Dividend. Why Its Stock Is Soaring.

    3M’s quarterly earnings topped Wall Street estimates—a positive—but what the company said about its dividend should get most of the attention. Results included numbers for the recently spun off 3M healthcare business, Solventum That spin was completed on April 1. “We’re resetting the dividend post-spin,” 3M CEO Mike Roman told Barron’s. The company will target about 40% of its free cash flow as annual dividends.