- Michael Burry’s Scion Asset Management placed a bearish wager against Apple stock last quarter.
- “The Big Short” investor bought a bunch of stocks including Alphabet, Meta Platforms, and Discovery.
- The purchases helped to more than double the value of Scion’s US stock portfolio to $165 million.
Michael Burry, the investor of “The Big Short” fame, placed a bet against Apple and loaded up on other stocks last quarter, a Securities and Exchange Commission filing revealed on Monday.
Burry’s Scion Asset Management held bearish put options against 206,000 Apple shares as of March 31. The iPhone maker’s stock price has roughly quadrupled since the start of 2019, but has slumped by 16% this quarter alone.
Scion held only six stocks at the end of December. The hedge fund exited all of those holdings except Bristol-Myers Squibb last quarter, but added the likes of Alphabet, Meta Platforms, and Discovery to its portfolio.
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