5 Stocks Dr Michael Burry Just Bought and Sold

In this piece, we will take a look at 5 stocks Dr Michael Burry just bought and sold. If you want to read our introduction to the institutional investor, then take a look at 15 Stocks Dr Michael Burry Just Bought and Sold.

5. JD.com, Inc. (NASDAQ:JD)

Scion Asset Management’s Equity (New Stake): $3.64 Million
Number of Hedge Fund Holders: 53

A push for value in a battered Chinese internet company also saw Burry acquire stakes in JD.com, Inc. (NASDAQ:JD), which offers supply chain-based technologies and services. It provides computer communication, consumer electronic products, and home appliances. JD.com, Inc. (NASDAQ:JD) also deals in general merchandise products comprising food, beverage, and fresh produce.

JD.com, Inc. (NASDAQ:JD) was a new arrival at Scion Asset Management in Q3 2023. It acquired 125,000 shares worth about $3.64 million, accounting for 3.67% of the portfolio.

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4. CVS Health Corporation (NYSE:CVS)

Scion Asset Management’s Equity stake: 0%
Number of Hedge Fund Holders: 64

CVS Health Corporation (NYSE:CVS) is a healthcare company that offers health services while operating through health Care Benefits, Pharmacy Services, and Retail/LTC segments. CVS Health Corporation (NYSE:CVS) offers traditional, voluntary, and consumer-directed health insurance products and related services. 

Burry took a position in CVS Health Corporation (NYSE:CVS) in the second quarter by acquiring 100,000 shares valued at about $6.9 million. However, by the end of the third quarter, the hedge fund had sold all of its holdings after CVS Health Corporation (NYSE:CVS) had gained 0.4%.

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3. The Cigna Group (NYSE:CI)

Scion Asset Management’s Equity stake: 0%
Number of Hedge Fund Holders: 74

Headquartered in Bloomfield, Connecticut, The Cigna Group (NYSE:CI) was one of Scion Asset’s Management holdings in the first half of the year, offering exposure in the healthcare sector. The Cigna Group (NYSE:CI) provides insurance and related products and services in the US. It also offers pharmacy benefits, home delivery pharmacy, and speciality pharmacy distribution.

Scion Asset Management acquired stakes in The Cigna Group (NYSE:CI) in the first quarter of the year and increased stakes to 27,500 in the second quarter. Nevertheless, it exited the position in the third quarter as the holding started accumulating losses. The Cigna Group (NYSE:CI) is down by 12% for the year.

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2. Booking Holdings Inc. (NASDAQ:BKNG)

Scion Asset Management’s Equity (New Stake): $4.6 Million
Number of Hedge Fund Holders: 81

Michael Burry’s hedge fund, Scion Asset Management, opened a new position in Booking Holdings Inc. (NASDAQ:BKNG) in the third quarter of 2023. The company provides online reservations and related services for travel and restaurants.

Booking Holdings Inc. (NASDAQ:BKNG) has been flying high amid renewed interest in domestic and international travel on the easing of COVID-19 restrictions. Likewise, Booking Holdings Inc. (NASDAQ:BKNG) is up by about 54% for the year. Scion Asset Management bought 1500 shares in the company in Q3 for about $4.6 million, accounting for 4.67% of the portfolio.

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1. Alibaba Group Holding Limited (NYSE:BABA)

Scion Asset Management’s Equity (New Stake): $4.3 Million
Number of Hedge Fund Holders: 110

Michael Burry sought exposure in the Chinese internet landscape by acquiring shares in Alibaba Group Holding Limited (NYSE:BABA) in Q3 2023. Through its subsidiaries, the company provides technology infrastructure and marketing reach to help merchants connect with customers. Alibaba Group Holding Limited (NYSE:BABA) operates one of the largest digital retail and logistics services platforms while providing elastic computing, storage, and network security services.

While Alibaba Group Holding Limited (NYSE:BABA) is down by about 11% year to date, it has seen its fortunes improve with the easing of crackdowns on internet companies by regulators in China. Scion Asset Management bought 50,000 shares in Alibaba Group Holding Limited (NYSE:BABA) for $4.337, accounting for 4.38% of the portfolio in Q3 2023.

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