Michael Burry’s Top 5 Stock Picks For 2024

2. JD.com, Inc. (NASDAQ:JD)

Scion Asset Management’s Stake Value: $5.78 million

Number of Hedge Fund Holders: 56

JD.com, Inc. (NASDAQ:JD) is a company based in China that is involved in supply chain-based technologies and services. Its products include computers, communication and consumer electronics, home appliances, food and beverages, baby and maternity products, furniture and household goods, cosmetics, and personal care items, among others. JD.com, Inc. (NASDAQ:JD) is ranked high among the top Michael Burry stock picks in the fourth quarter of 2023, with a stake of 200,000 shares worth $5.78 million. Burry increased his position in JD by 60% in the December quarter. 

According to Insider Monkey’s fourth quarter database, 56 hedge funds were bullish on JD.com, Inc. (NASDAQ:JD), an increase from 53 funds in the previous quarter. Chase Coleman’s Tiger Global Management held a significant position in the company, with 8.8 million shares valued at $254.35 million.

Baron Emerging Markets Fund made the following comment about JD.com, Inc. (NASDAQ:JD) in its first quarter 2023 investor letter:

“JD.com, Inc. (NASDAQ:JD) is one of the three largest e-commerce platforms in China. Shares declined after the company reported a slowdown in fourth quarter sales and commented that deliberate culling of unprofitable SKUs would also be a drag on headline revenue growth in the first half of 2023. We believe the slowdown was driven by the peak in Chinese COVID lockdowns, which have since ended, and the elimination or reduction of unprofitable business is better for long-term margins and returns on capital. We remain investors.”