Michael Burry is Loading Up on These 4 Stocks

2. Alphabet Inc. (NASDAQ: GOOG) CALL

Number of Hedge Fund Holders: 155   

Percentage Increase in Stake During Q2: 15%

Alphabet Inc. (NASDAQ: GOOG) is a California-based technology company. It is ranked second on our list of 9 stocks Michael Burry is loading up on. Latest data shows that Scion Asset Management owned CALL options on 91,900 shares in the company at the end of the second quarter of 2021 worth over $230 million, representing 11.06% of the portfolio. 

On July 28, investment advisory Wedbush reiterated an Outperform rating on Alphabet Inc. (NASDAQ: GOOG) stock and raised the price target to $3,424 from $3,127, noting that the company had posted “another stellar quarter” with strong earnings beats. 

Out of the hedge funds being tracked by Insider Monkey, London-based investment firm TCI Fund Management is a leading shareholder in the firm with 2.9 million shares worth more than $7.3 billion. 

In its Q1 2021 investor letter, Artisan Partners, an asset management firm, highlighted a few stocks and Alphabet Inc. (NASDAQ: GOOG) was one of them. Here is what the fund said:

“Large-cap tech companies have been resilient through the pandemic—Alphabet among them. A top contributor, Alphabet’s Play Store and Google Cloud are in demand as businesses accelerate online activity which, along with strong YouTube user growth, is helping stabilize temporarily weaker search ad revenue trends. Through the lens of our disciplined bottom-up research process, we view Alphabet as one of the best businesses in the world, capable of expanding revenues at a rapid rate for years to come, with a bullet proof balance sheet and an average asking price. It’s a name we’ve owned since 2012 and for which we continue to have high hopes regarding future prospects.”