Michael Burry (Trades, Portfolio), famously portrayed in the movie "The Big Short," has made significant adjustments to his investment portfolio, as revealed in a recent SEC filing. His firm, Scion Asset Management, placed substantial bets using put options on Nvidia (NVDA, Financial) during the first quarter. Put options are financial instruments used to profit from a decline in stock prices.
From January to early April, Nvidia's stock price dropped by 37%, aligning with Burry's strategic move. However, Nvidia's market value rebounded, exceeding $3 trillion this week. It remains uncertain whether Burry continued to short Nvidia in the second quarter or closed his position.
Additionally, Burry's firm acquired put options on some previously held stocks, while maintaining a long position in Estée Lauder. The SEC mandates that institutional investment managers with over $100 million in certain securities disclose their positions through quarterly 13-F filings.
