Despite maintaining a relatively small portfolio and abandoning his controversial bet against the semiconductor industry in 2023, Michael Burry, the investor known for ‘The Big Short’, continues to generate excitement with his various stock market investments. While his trades in Amazon and Alibaba have received the most attention, smaller investments like GEN Restaurant Group have also piqued interest. However, one of Burry’s long-standing but lesser-known stocks, Safe Bulkers, has emerged as a major winner for his Scion Asset Management portfolio by early June 2024.
Safe Bulkers, a company specializing in marine transportation of goods like coal, iron ore, and grain, was first added to Scion’s holdings in the second quarter of 2023. Since then, the stock has experienced a remarkable and sustained rise, currently sitting at an impressive 85% gain. On the date of the initial 13-f filing, Safe Bulkers’ stock was valued at $3.26, but by June 4, 2024, it had surged to $6.06.
While the growth of Safe Bulkers’ shares is substantial, it is worth noting that it remains the smallest holding in Scion’s portfolio, accounting for just 1.9% of the total. Nonetheless, Burry initially purchased 127,525 shares for around $435,000, and as of now, they are valued at just over $760,000. This means that the investor has made approximately $325,000 in the past year. Due to several partial sales and additional acquisitions of Safe Bulkers stock, Burry’s total holding in the company now amounts to 400,000 shares worth over $2 million as of June 4, 2024.
Please note that this content should not be considered as investment advice. Investing carries risks, and your capital is at risk.
