Big Short’s Michael Burry Pours $383,030,000 Into a Bullish Bet on Four Stocks – Including One Major Dow 30 Play

A hedge fund run by legendary investor Michael Burry kicked off a new $383 million bullish bet split between four different stocks.

New U.S. Securities and Exchange Commission (SEC) filings from Burry’s Scion Asset Management indicate the hedge fund has opted for a bullish stance on UnitedHealth, Regeneron Pharmaceuticals, Lululemon and Meta, opening large positions in call options on each firm’s stock.

The firm now owns $109.189 million worth of call options on the controversial multinational health insurance giant UnitedHealth, a Dow 30 company .

Scion Asset Management also owns $105 million worth of call options on the biotech firm Regeneron, $95.032 million worth of call options on the Canadian multinational athletic retailer Lululemon and $73.809 million worth of call options on the social media giant Meta.

Burry is known for predicting the 2008 collapse of the housing market. Earlier this year, Scion took a substantial bearish stance against Nvidia (NVDA), opening a large position in put options against the chipmaker’s stock.

Scion also reversed its previously bullish outlook on Chinese equities, acquiring bearish put options on major Chinese companies, including Alibaba (BABA) and Baidu (BIDU).

In 2023, Burry drastically reduced Scion’s holdings, only to later admit he was wrong while placing new, targeted bets.

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