According to a filing with the Securities and Exchange Commission made public on Wednesday, Michael Burry’s Scion Asset Management sold shares in Alphabet Inc. and Amazon.com Inc. during the first quarter and bought shares in an exchange-traded fund that invests in physical gold.
People became aware of Burry after reading about his bet against mortgage bonds before the global financial crisis in the book “The Big Short.”
Burry sold all of his shares in Big Lots Inc. BIG, -16.56%, Booking Holdings Inc. BKNG, +0.52%, MGM Resorts International MGM, +0.63%, Oracle Corp. ORCL, +0.63%, and Warner Bros Discovery Inc. WBD, -4.21%. He also sold all of his shares in Alphabet GOOGL, +1.27% GOOG, +1.13% and Amazon AMZN, -0.58%.
Burry bought more shares of Chinese companies like Alibaba Group Holding Ltd. (BABA, +1.86%) and JD.com Inc. (JD, +0.81%) in addition to Sprott Physical Gold Trust PHYS. They are both known as American Depository Receipts (ADRs) in the United States.
In 2024, Chinese stocks have gone up, making up for some of the losses they had over the past few years. As of Wednesday night’s close, the KraneShares CSI China Internet ETF KWEB had gained more than 16% since the beginning of the year. This is because it holds ADRs that are linked to both Alibaba and JD.com.
In 2024, gold prices have reached all-time highs. Traders are interested in the yellow metal because of worries about inflation and situations in other countries. Gold’s rise has helped the Sprott ETF’s share price rise 16% this year, to $18.50 a share at the end of the day on Wednesday.
The SEC filing that came out on Wednesday shows what Burry’s portfolio looked like on March 31. Not only does it not promise that Burry will keep these stocks, but it also doesn’t say when exactly changes were made to his portfolio.
The filing also doesn’t say anything else about his portfolio besides the fact that he owns U.S. stocks and options.
