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'Big Short' Burry drops all shorts including Tesla, reduces holdings to six


According to an SEC filing from 15 November, Burry, who has been vocal in his belief that Tesla is incorrectly valued and argued that CEO Elon Musk “just wants to sell” stock in the firm, has removed his entire collection of put options against the electric vehicle maker.

Elon Musk committed to offloading Tesla shares weeks before Twitter poll

In the firm’s previous filing dated 16 August, the fund had put options against 1,075,500 Tesla shares, along with shorts against 235,500 shares in Cathie Wood’s ARK ETF and 1,943,000 shares in an iShares 20-year US treasuries ETF, all of which are missing from the latest filing.

Burry’s hedge fund had a total of 22 positions in the summer, which has fallen to just six. Of these, only three remain from his summer portfolio: Corecivic, CVS Health and Geo Group.

The most recent filing revealed the manager added Lockheed Martin, Now and Scynexis to the portfolio.

Alphabet, Facebook, Kraft Heinz and Walmart were some of the biggest names sold by the firm over the past quarter.

The value of shares and options in the fund has fallen from $2.1bn to just $41.7m.

 



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