Renowned investor Michael Burry recently submitted his 13F report for the second quarter of 2023, which concluded on June 30, 2023. Known for his value investing approach and his uncanny ability to identify mispriced assets, Burry has made a name for himself in the investment world. His investment philosophy is rooted in deep research, rigorous analysis, and a keen understanding of market dynamics.
The latest filing reveals that Burry's portfolio consisted of 33 stocks with a total value of $1.74 billion. The top holdings were EXPE (0.63%), CHTR (0.53%), and GNRC (0.47%). However, these new holdings barely impacted the firm's equity portfolio compared to the firm's top sells.
Top Three Sells of the Quarter
Scion's top three trades of the quarter were all sold out transations:
JD.com Inc (NAS:JD)
Burry completely sold out his 250,000-share investment in JD.com Inc. The shares previously accounted for 10.26% of his portfolio and traded at an average price of $36.5 during the quarter. As of August 14, 2023, JD.com's stock price was $36.73, with a market cap of $57.54 billion. The stock has seen a return of -34.67% over the past year. GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 5 out of 10. JD.com's valuation metrics include a price-earnings ratio of 20.89, a price-book ratio of 1.87, a PEG ratio of 0.43, a EV-to-Ebitda ratio of 12.19, and a price-sales ratio of 0.38.
Alibaba Group Holding Ltd (NYSE:BABA)
Burry also sold out his 100,000-share investment in Alibaba Group Holding Ltd. The shares previously accounted for 9.56% of his portfolio and traded at an average price of $87.76 during the quarter. As of August 14, 2023, Alibaba's stock price was $93.72, with a market cap of $238.68 billion. The stock has seen a return of -1.08% over the past year. GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 9 out of 10. Alibaba's valuation metrics include a price-earnings ratio of 20.29, a price-book ratio of 1.69, a PEG ratio of 18.45, a EV-to-Ebitda ratio of 9.35, and a price-sales ratio of 1.90.
Zoom Video Communications Inc (NAS:ZM)
Lastly, Burry sold out his 100,000-share investment in Zoom Video Communications Inc. The shares previously accounted for 6.91% of his portfolio and traded at an average price of $66.97 during the quarter. As of August 14, 2023, Zoom's stock price was $67.045, with a market cap of $19.95 billion. The stock has seen a return of -38.50% over the past year. GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 6 out of 10. Zoom's valuation metrics include a price-earnings ratio of 9999.00, a price-book ratio of 3.06, a EV-to-Ebitda ratio of 89.70, and a price-sales ratio of 4.63.
In conclusion, Michael Burry (Trades, Portfolio)'s Q2 2023 13F filing provides valuable insights into his investment strategy and portfolio adjustments. His sell-out positions in JD.com, Alibaba, and Zoom reflect his dynamic approach to value investing and his ability to adapt to changing market conditions.
