Michael Burry Is Selling These 3 Stocks in 2022

In this article, we discuss the 3 stocks that Michael Burry is selling. If you want to read about Burry’s history, investment philosophy, and hedge fund performance, go directly to Michael Burry is Shorting Apple and Selling These 5 Stocks in 2022.

3. Fidelity National Financial, Inc. (NYSE:FNF)

Number of Hedge Fund Holders as of December 31: 40

Fidelity National Financial, Inc. (NYSE:FNF) is a Jacksonville, Florida-based provider of title insurance and settlement services to the real estate and mortgage industries. Scion Asset Management initiated a position in Fidelity National Financial, Inc. (NYSE:FNF) in Q4 2021 through 325,000 shares bought at an average quarterly price of $49.7 per share. The holding was entirely sold off in Q1 2022.

Fidelity National Financial, Inc. (NYSE:FNF) has been a deeply cyclical stock and is expected to remain so in the future. In April, Mark DeVries at Barclays reduced the price target on Fidelity National Financial, Inc. (NYSE:FNF) from $74 to $73. The analyst shared that the long refinance wave is likely to come to an abrupt end due to the rising mortgage rates. This would adversely impact the profitability and valuations of companies like Fidelity National Financial, Inc. (NYSE:FNF).

Overall, 40 hedge funds reported owning a stake in Fidelity National Financial, Inc. (NYSE:FNF), up from 32 in the previous quarter.