Michael Burry is Shorting Tesla Inc. (NASDAQ: TSLA) and Buying These 5 Stocks Instead

2. Ingles Markets, Incorporated (NASDAQ: IMKTA)

Number of Hedge Fund Holders: 20   

Ingles Markets, Incorporated (NASDAQ: IMKTA) is a North Carolina-based supermarket chain founded in 1963. The company represents 0.68% of the investment portfolio of Burry’s Scion Asset Management, with 150,000 shares worth over $9.2 million. Ingles Markets stock has returned more than 44% to investors over the course of the past twelve months. The firm operates close to 200 supermarkets, mostly in the southern part of the United States. 

On May 5, Ingles Markets, Incorporated (NASDAQ: IMKTA) posted earnings for the second fiscal quarter, reporting a revenue of more than $1.1 billion and earnings per share of $2.58. The revenue number was over 2.5% higher compared to the same period last year. 

Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm GAMCO Investors is a leading shareholder in Ingles Markets, Incorporated (NASDAQ: IMKTA) with 1 million shares worth more than $42 million.