In this article, we will look at Michael Burry’s top portfolio holdings.
Michael Burry’s name is synonymous with contrarian investing strategies, being one of the few investors who bet against the housing market and profiting from the subprime mortgage crisis between 2007 and 2010. His stance on the real estate market in 2008 made the American investor and hedge fund manager famous enough to make it in the 2015 film “The Big Short,” where he was portrayed by Christian Bale.
Over the years, Burry, who established a renowned and well-regarded California-based hedge fund Scion Asset Management, LLC in 2013, often made headlines for his recession warnings and market crash “predictions”. However, with warnings about economic downturns fizzling out, Burry’s reputation as both an expert and hedge fund manager was often at stake.
But even though some of his recession warnings have not played out as predicted, Burry remains one of the market geniuses whose moves investors value and follow as explained in our recent survey of Michael Burry’s portfolio in 2024.
His firm has achieved a return of over 160% over the past decade, outperforming the S&P 500 during that time, according to Ticker Nerd.
READ ALSO: Michael Burry Stock Portfolio: Top 8 Stock Picks and 10 Cheapest Stocks Insiders Are Buying Recently
Scion Asset Management manages hedge funds with discretionary assets under management of $196,206,549 (as of March 2024). In its fourth quarter SEC 13F filing on February 14, Burry’s firm disclosed a total of 13 security holdings with a portfolio value of $77,435,131 and a top 10 holdings concentration of 93.62%.
Burry wrapped up 2024 being cautiously optimistic regarding long-term prospects in terms of China’s online retail market, given ongoing regulatory and macroeconomic uncertainties in the Asian country. In the quarter ending December 31, he cut the stake in two of his top three investments in Chinese technology before the January release of DeepSeek’s latest AI models which turned tech space on its head starting a massive rally in the country’s stock market. Apart from that, it appears Burry is looking to capitalize on the growing demand for healthcare services and advanced analytical technologies, while also focusing on consumer discretionary taking positions in apparel, cosmetics, and luxury goods industries.
Michael Burry of Scion Asset Management
Our Methodology
To make the list of Michael Burry’s top portfolio holdings we reviewed Scion Asset Management’s fourth-quarter 2024 portfolio and ranked the list according to the hedge fund’s stake value in each firm. If there was an overlap, we prioritized the holding that was worth more money. We have also assessed the number of shares acquired by Scion Asset and hedge fund sentiment toward each stock from Insider Monkey’s database of hedge investor letters.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373% since May 2014, beating its benchmark by 218 percentage points (see more details here).
That said, please see if there are overlaps between our compilation of famous investor’s top 10 stock picks heading into 2025 wrapped up in October and a new list of Michael Burry’s top 10 portfolio holdings.
10. Magnera Corp
Portion of portfolio: 4.69%
Value of holdings: $3,634,000
Magnera Corp (NYSE: MAGN) is a spinoff and merger of Berry Global’s Health & Hygiene and Nonwovens & Films business and the former Glatfelter Corporation, formerly GLT, completed in November 2024. The company manufactures and supplies papers and engineered materials. Serving customers globally, the combined business offers a range of products such as components for absorbent hygiene products, protective apparel, wipes, specialty building and construction products, and products serving the food and beverage industry.
Burry opened a position in Magnera in the fourth quarter buying 200,000 of the company’s shares.
Magnera’s first quarter 2025 inaugural earnings report, published in February, showed net sales of $702 million, representing a 2% year-over-year, including revenue from the merger. Revenue growth is one of the indicators of the company’s ability to expand its customer base and increase sales. Adjusted EBITDA came in positive at $84 million, up 8% over the same period. The company, with a market cap of $702.33 million reported net debt to adjusted EBITDA of 4x and net debt of $1.78 billion, in line with expectations, according to Seeking Alpha.
Kristopher Rymer from Safe Harbor Stocks who also purchased a position in Magnera said in his analysis of the company’s financial report that the management anticipates robust organic growth in its infrastructure and hard surface disinfecting categories. To mitigate cost inflation, management is carrying out pricing adjustments.
Magnera Corp’s stock price stood at $19.84 at the market close on March 11. Year-to-date, the company’s stock gained 9.19% in value.
9. VF Corp
Portion of portfolio: 5.54%
Value of holdings: $4,292,000
VF Corp (NYSE: VFC) is an apparel, footwear and accessories company. The company boasts the Active, Outdoor and Work sectors, offering its products primarily through mass merchants, department stores, independently operated partner stores, national retailers, specialty shops and direct-to-consumer channels. Additionally, 15% of its products are sourced from China. Its brands include The North Face, Vans, JanSport, Timberland and Kipling, to name a few.
Burry initiated its investment in the Denver, Colorado-headquartered VF Corp in the fourth quarter purchasing 200,000 of its shares.
The company’s revenue in the third quarter of fiscal 2025 increased by 2% over the previous year’s quarter to $2.8 billion, beating analyst estimates of $2.75 billion, according to data compiled by LSEG. The third quarter marked the firm’s fourth consecutive quarter of growth. VF Corp bounced back from the demand challenges and losses that impacted the company until early 2024. Part of V.F. Corporation’s strategy is prioritization of its Vans brand as well as reduction of costs by $300 million by the end of fiscal 2025 alongside the sale of non-core assets such as Supreme brand.
In its fourth quarter 2024 investor letter Curreen Capital said V.F. Corp is trading at an attractive upside-to-downside ratio, suggesting potential for significant future growth, given its strong brands, improved management, and solid business fundamentals.
As part of its broader financial strategy, VF Corp announced the redemption of all its outstanding 2.400% Senior Notes due in 2025.
With a market capitalization of $6.751 billion, VFC traded at $17.33 after the market close on March 11, according to Yahoo Finance. Year-to-date, the stock lost 19.25% in value, earning a place on the list of Michael Burry’s top portfolio holdings.
