Michael Burry’s Top 3 Stock Picks

2. Fidelity National Financial, Inc. (NYSE:FNF) 

Scion Asset Management’s Stake Value: $16.9 million

Percentage of Scion Asset Management’s Portfolio: 22.77%

Numbers of Hedge Fund Holders: 41

Fidelity National Financial, Inc. (NYSE:FNF) is also a newcomer in Scion Asset Management’s portfolio. It is a mid-cap Fortune 500 company engaged in providing title insurance and settlement services to the mortgage and real estate industries. Like Burry’s Scion Asset Management, other elite funds were also bullish about the company. As of December, the number of long hedge funds’ positions in Fidelity National was at 41 compared to 32 in the previous quarter. 

In the fourth quarter investor letter, Weitz Investment Management, an investment management firm, mentioned a few stocks including Fidelity National Financial. Here is what Weitz Investment Management stated:

“Another in this category, Fidelity National Information Services, has a very stable, growing, mission-critical software business serving banks. It entered the payments business a few years ago and is now being painted in the same light as other payment stocks. We think that global spending will eventually revert to its trend line. Further, payments companies’ revenues are generally a function of payment volume, so revenues are indexed to inflation while expenses rise more slowly. This is great for profit margins. We expect all three of these companies to be excellent contributors to our results over the next few years.”