Michael Burry has been known to take large positions against companies he thinks are overvalued. Over the years, "The Big Short" investor has actively shorted Tesla Inc (NASDAQ:TSLA) with a belief the stock was overvalued. Burry also shorted shares of the Ark Innovation ETF (NYSE:ARKK).
What Happened: Burry revealed his latest investments in a new 13F filing.
Among the latest purchases by Burry and Scion Asset Management were Alphabet Inc (NASDAQ:GOOG)(NASDAQ:GOOGL), Meta Platforms (NASDAQ:FB) and Discovery, which now trades as Warner Bros. Discovery (NASDAQ:WBD).
Among the positions revealed in the 13F was a bearish bet on Apple Inc (NASDAQ:AAPL). Burry holds a put position worth 206,000 shares as of March 31.
The bearish position is estimated at $36 million if exercised, which would be the largest position in the portfolio.
Related Link: Michael Burry Loses Blue Check Mark On Twitter, Is Former Rival Elon Musk Stepping In To Help?
Why It’s Important: After a strong run for Apple shares over the last three years, the stock is now down 20% year-to-date.
Burry has been bullish on Apple in the past, noting in 1999 that the stock was worthy of Warren Buffett. Years later, Buffett bought shares of Apple for Berkshire Hathaway Inc (NYSE: BRK-A)(NYSE: BRK-B).
Scion Asset Management held positions in 12 stocks including the put position in Apple. At the end of December, Scion had positions in only six stocks.
Scion’s position in Bristol-Myers Squibb (NYSE:BMY) was increased in the first quarter and sat at $21.9 million at the end of the first quarter.
A recent tweet from Burry could have signaled a belief that more pain is ahead for stocks. Burry has not made comments on the Apple position as of the time of writing.
