Michael Burry’s Scion Asset Management exited its positions in Alphabet Inc. and Amazon.com Inc. during the first quarter while buying shares of an exchange-traded fund that invests in physical gold, according to a filing with of the Securities and Exchange Commission released Wednesday.
Burry rose to fame after his bet against mortgage bonds in the run-up to the global financial crisis was chronicled in “The Big Short.”
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In addition to selling his stakes in Alphabet GOOGL GOOG and Amazon AMZN, Burry also sold his entire positions in Big Lots Inc. BIG, Booking Holdings Inc. BKNG, MGM Resorts International MGM, Oracle Corp. ORCL and Warner Bros Discovery Inc. WBD
In addition to purchasing shares of Sprott Physical Gold Trust PHYS, Burry has also increased his stakes in Chinese companies, including Alibaba Group Holding Ltd. BABA and JD.com Inc. JD. Both companies trade in the United States under the name American Depository Receipts, or ADRs.
Chinese stocks have rallied in 2024, reversing some of their losses from recent years. The KraneShares CSI China Internet ETF KWEB, which holds ADRs linked to both Alibaba and JD.com, is up more than 16% year to date through Wednesday’s close, data shows from FactSet.
Gold prices have reached record levels in 2024 as geopolitical concerns and concerns over stubborn inflation have attracted traders to the yellow metal. Gold’s advance has helped push shares of the Sprott ETF up 16% this year, to $18.50 a share as of Wednesday’s close.
The SEC filing released Wednesday offers a snapshot of Burry’s portfolio as of March 31. It does not guarantee that Burry continues to hold these shares and gives no indication of when exactly the changes were made to its portfolio.
The filing also offers no information about his portfolio other than his holdings of U.S. stocks and options.
