Michael Burry Is Selling These 3 Stocks in 2022

2. General Dynamics Corporation (NYSE:GD)

Number of Hedge Fund Holders as of December 31: 48

General Dynamics Corporation (NYSE:GD) is a Reston, Virginia-based aerospace and defense company. Scion Asset Management first bought a stake in General Dynamics Corporation (NYSE:GD) through 80,000 shares at an average quarterly price of $201.93 per share. The holding was completely sold off in Q1 2022.

Although the companies operating in the defense sector have been in the limelight since the start of the Russia-Ukraine conflict, the highly profitable jet business of General Dynamics Corporation (NYSE:GD) is expected to face a headwind due to the sanctions placed on Russia. Gulfstream, General Dynamics Corporation’s (NYSE:GD) subsidiary, was the preferred choice of the premier jet brand amongst the wealthy Russians, and the sanctions are expected to hamper General Dynamics Corporation’s (NYSE:GD) growth momentum. Gulfstream is responsible for generating around 35% of the company’s operating profit.

Overall, 48 hedge funds held a stake in General Dynamics Corporation (NYSE:GD) at the end of Q4 2021, up from 36 in the preceding quarter.