Multiple consecutive 13-F filings submitted by Michael Burry’s Scion Asset Management unveiled a series of trades that appeared to be unprofitable. While the initial bet against the semiconductor industry in 2023 was abandoned, the underwhelming long position in Alibaba (NYSE: BABA) remained a focal point in the first quarter of 2024. However, the landscape shifted dramatically with the release of the latest filing on May 15, as smaller yet highly successful investments took center stage alongside the dominant Chinese stocks BABA and JD.com (NASDAQ: JD).
One standout stock that experienced a rapid surge following the most recent 13-F filing is First Solar (NASDAQ: FSLR), a solar panel manufacturing company. The exact timing of Burry’s purchase of FSLR stock is unclear, but the company has seen a remarkable 42% increase since the filing and a 58.96% rise since the end of the first quarter of the year. This performance ensures that the renowned investor is profiting from the bet, as the company’s stock price has climbed from the $140-$172 range in Q1 to $274.29 today, marking a 59.32% year-to-date increase.
In addition to FSLR, Burry made several other successful trades in 2024. Safe Bulkers (NYSE: SB), an investment made approximately a year ago, saw an impressive 80% rise over the past 12 months and continued to climb by 3.79% at the start of June. Another holding, GEN Restaurant Group (NASDAQ: GENK), captured attention earlier this year with a rapid ascent of 50% in just 7 days, although Burry exited the position before the end of Q1.
Overall, Burry’s investment choices in 2024 have proven to be lucrative, with a mix of well-known and lesser-known stocks contributing to his success. Please note that the information provided should not be considered investment advice, as investing always carries risks.
