Michael Burry’s Portfolio: What the ‘Big Short’ Investor Owns Now - Lululemon Athletica
Michael Burry, the Scion Asset Management founder who achieved global recognition for his successful wager against the mid-2000s housing bubble, has revealed several new adjustments to his investment portfolio. According to recent market data and regulatory filings, a consistent theme has emerged across his latest acquisitions. Burry is focusing his capital on specific companies that are aggressively repurchasing their own shares at price levels the investor considers to be significantly below their intrinsic value. This strategy highlights his continued preference for finding value in sectors that the broader market may be currently discounting.
One of the most significant positions in this updated strategy involves the Chinese e-commerce giant JD.com Inc. Burry has not only maintained his interest in the NASDAQ-listed company but has actively increased his holdings. The investor provided a blunt assessment of the firm's current market position, labeling JD.com as the most undervalued stock in my universe. By expanding his stake, Burry is signaling a strong conviction that the market has failed to accurately price the company's assets and future earnings potential, even as other international investors remain hesitant about the region.
Undervalued Stock in My Universe
Burry also directed funds toward Ero Copper Corp, which trades on the New York Stock Exchange. He chose to increase his position in the copper producer during a recent market pullback. This move coincided with a positive shift in the company's credit profile. S&P Global Ratings recently issued an upgrade for the debt of Ero Copper, moving it to a BB- rating. Along with this upgrade, the ratings agency assigned the company a stable outlook. This improvement in credit standing suggests a more robust financial foundation, which likely served as a catalyst for Burry to buy more shares while the price was temporarily depressed.
Debt Upgraded to Bb- Rating
The portfolio update also highlights a smaller but notable position in SMX. This company, which is listed on the NASDAQ, has recently undergone a series of financial maneuvers to strengthen its balance sheet. SMX reported that it has successfully raised new capital, which allowed the firm to reduce its overall debt levels and report higher equity. These structural changes come as the company continues to focus on its core mission of developing specialized technology. The goal of this technology is to provide a reliable system to verify and track materials worldwide, addressing growing global demands for supply chain transparency and material authentication.
Verify and Track Materials Worldwide
While the specific details regarding Lululemon Athletica are part of this broader portfolio narrative, the overarching strategy remains the same. Burry is targeting firms like Lululemon that have the financial capacity to support their own stock through buybacks when valuations appear low. By focusing on companies with improving credit ratings, reduced debt, and aggressive share repurchase programs, the investor is positioning himself to benefit from a potential market correction in the valuation of these specific equities. His recent activity suggests he sees a disconnect between the current trading prices of these firms and their underlying financial health.
Source: benzinga.com · 2026-11-11