The Big Short’s Michael Burry Reveals His New Stock Picks

HCA Holdings Inc (NYSE:HCA) stock forms 21.37% of Scion Asset Management’s portfolio at the end of the September quarter. The fund held 100,000 shares of the company with the market value of $7.563 million. The number of funds with long HCA Holdings positions was 62 at the end of the last quarter. The total value of their holdings stood at $3.3 billion, in comparison to $3.5 billion held by 72 funds at the end of previous quarter. The company recently announced the authorization of an additional share buyback program. The latest authorization allows the company to utilize up to $2 billion to repurchase its common stock. The company now has $2.04 billion left under the buyback program as of Nov 14, 2016.

Hostess Brands Inc (NASDAQ:TWNK) stock gained 7.26% this year so far. Scion Asset Management initiated its holding by buying 300,000 shares during the quarter. The market value of the position stands at $3.24 million and corresponds to 9.16% of Scion Asset Management’s 13F portfolio.  Hostess Brands reported 24% increase in its revenue for the third quarter of the year to $196.2 million. Its gross margin also increased 640 basis points to 44.1%. The company reported its adjusted EBITDA at $55.6 million, up 36.7% year over year. Its GAAP net income for the quarter stood at $33.5 million.

Amgen Inc (NASDAQ:AMGN) stock climbed 10.66% this year as it also saw Scion Asset Management liquidating its holding of the stock during the September quarter. The investment firm held 40,000 shares of Amgen. The move was very timely as Amgen lost more than 12% this quarter. Amgen reported positive top-line data from the second pivotal phase III study (STRIVE) on their calcitonin gene-related peptide (CGRP) receptor, AMG 334 (erenumab). The treatment is designed for the prevention of episodic migraine. The company is collaborating with Novartis AG NVS for the development of this drug.

DISCLOSURE – NONE