Michael Burry gained prominence after profiting from the 2008 financial crisis by betting against mortgage-backed securities. He currently has a short position in Tesla, Inc. worth $534 million. The surge that propelled Tesla, Inc. to its all-time high was unprecedented, with the stock’s price rising by about 700 percent in just over a year. It has dropped over 35% since its peak four months ago. Tesla, Inc. has been one of the most heavily shorted companies on the market since at least 2010. Tesla’s short-sellers lost $52 billion between 2017 and 2021. The figure is closer to $57 billion if we go back to 2010.
Here is Insider Monkey’s list of the top 10 holdings of Michael Burry. SunCoke Energy, Inc. is a raw material processing and handling corporation situated in Illinois. It is ranked tenth among Michael Burry’s top ten holdings. SunCoke stock has returned more than 130 percent to investors in the last year. NOW Inc. is a Texas-based industrial equipment company that specializes in oil drilling equipment distribution. Michael Burry owns 700,000 shares in the company through his wealth management firm. Over the previous year, NOW stock has returned more than 52 percent to investors. Burry’s Scion Asset Management has over 1.1 million Kraft Heinz shares valued at over $46 million. Despite pandemic-related sales delays, Kraft stock has returned more than 43 percent to shareholders in the last year. Facebook, Inc. is a technology company based in California that was created in 2004. On our list of Michael Burry’s top ten holdings, it is ranked 7th. His financial firm, Scion Asset Management, has 550,000 shares in the social media behemoth valued at more than $161 million. Al Alphabet Inc. is a technology company situated in California that was formed in 1998. It is ranked 6th in Michael Burry’s top ten holdings. With the reopening of the economy, the internet behemoth is expecting record revenues this year. For more details, click Michael Burry is Shorting Tesla and Buying These 10 Stocks Instead.
