The ARK Innovation ETF is the year’s most successful exchange traded fund. Cathie Wood of ARK Investment Management owns and manages the fund. Burry manages more than $2 billion in assets, with a focus on consumer goods and technology. Scion Asset Management held nearly $31 million in PUT options against the ARK Innovation ETF. In comparison to the first quarter filings, this holding was a new addition to Scion’s portfolio in the second quarter. After peaking seven months ago, the fund has since fallen more than 25%. Cathie Wood took to Twitter to explain her ARK Innovation ETF position. Wood believes Burry lacks an understanding of the fundamentals of innovation. At the end of the second quarter of 2021, Burry’s portfolio included Facebook, Walmart, and Alphabet.
Here is Insider Monkey’s list of the stocks that Michael Burry is betting against and selling. Occidental Petroleum Corporation is ranked tenth on Michael Burry’s list of stocks he is shorting and selling. It is a Texas-based energy company. Burry’s firm has divested itself of its entire stake in the company. NOW Inc. is ranked ninth on Michael Burry’s list of stocks he is shorting and selling. The business is involved in the energy and industrial sectors. Scion Asset Management divested entirely of its holdings in NOW Inc. in the second quarter of 2021. NetApp, Inc. is a technology and software company based in California. It is placed eighth on the list of stocks that Michael Burry is betting against and selling. Scion Asset Management sold its entire stake in NetApp between March and June of this year. According to the most recent data filed with the government by the Burry-led fund, the fund sold its entire stake in Meredith Corporation. Meredith Corporation is ranked seventh on Michael Burry’s list of stocks he is shorting and selling. Ingles Markets, Inc. was founded in 1963 and currently has a market capitalization of more than $1.2 billion. The company owns and operates a chain of supermarkets. The stock’s 52-week price range is $34 to $67. For more details, click Stocks That Michael Burry Is Betting Against And Selling.
