Tracking Michael Burry’s Scion Asset Management Portfolio - Q2 2016 Update

• Michael Burry’s 13F decreased from $51M to $46M this quarter.
• Scion Asset Management added Alphabet Inc. and Neophotonics Corp. while dropping Apple, First Solar, and Tailored Brands.  
• The largest three individual stock positions are Nexpoint Residential Trus, Alphabet Inc.,  and HCA Holdings and they add up to ~64% of the portfolio.

Michael Burry’s 13F portfolio decreased ~1% from $51M to $46M this quarter. The portfolio is heavily concentrated with recent 13F reports showing just a handful of individual stock positions. The current stakes are Alphabet Inc. (GOOG), Amgen Inc. (AMGN), HCA Holdings (HCA), Neophotonics Corp. (NPTN), Nexpoint Residential (NXRT), and Theravance Biohpharma (TBPH).

Below is a look at the significant moves this quarter:

Alphabet Inc. (GOOG): GOOG is currently the second-largest position at 22.82% of the portfolio. It was established this quarter at prices between $668 and $767 and the stock is now at $777. The huge stake establishment indicates a clear bullish bias.

Neophotonics Corp. (NPTN): NPTN is a 6.28% portfolio stake purchased this quarter at prices between $8.53 and $14.49 and the stock currently trades at $17.05.

Apple Inc. (AAPL), First Solar Inc. (FSLR), and Tailored Brands (TLRD): These fairly large stakes were sold out this quarter. All three stocks were present in Scion’s first 13F filing in Q4 2015.

Gentherm Inc. (THRM), a very small position established last quarter was disposed of this quarter. The only other activity during the quarter was a ~20% increase in the large ~16% portfolio stake in Theravance Biopharma (TBPH). To know more about Dr. Michael Burry, check out the book The Big Short: Inside the Doomsday Machine by Michael Lewis.

Below is a spreadsheet that shows the changes to Michael Burry's Scion Asset Management US long portfolio holdings as of Q2 2016. For a look at how the portfolio has progressed, see our previous update:

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