Michael Burry’s Top 5 Stock Picks For Q3

In this piece, we will take a look at Michael Burry’s top five stock picks for Q3. To learn more about the investor and his famous stock market and economic calls, check out Michael Burry’s Top 10 Stock Picks For Q3.

5. CVS Health Corporation (NYSE:CVS)

Michael Burry’s Q2 2023 Investment: $6.9 million

CVS Health Corporation (NYSE:CVS) is an American healthcare benefits provider. The firm’s shares tanked in the third week of August as a Reuters report shared that Blue Shield of California will diversify away from the company in order to save up on costs. Michael Burry’s investment firm bought 100,000 CVS Health Corporation (NYSE:CVS) shares in Q2 2023, for a $6.9 million stake.

During the same time period, 66 of the 910 hedge funds part of Insider Monkey’s database had also invested in CVS Health Corporation (NYSE:CVS). Out of these, the firm’s largest shareholder is John Overdeck and David Siegel’s Two Sigma Advisors with a stake worth $398 million.

4. The Cigna Group (NYSE:CI)

Michael Burry’s Q2 2023 Investment: $7.7 million

The Cigna Group (NYSE:CI) is another healthcare benefits provider. The firm is headquartered in Bloomfield, Connecticut, and it is one of the oldest companies on our list since it was set up in 1792.

As June 2023 ended, Michael Burry’s firm owned a $7.7 million stake in the company, joining the list of 74 hedge fund investors out of the 910 part of Insider Monkey’s research that had invested in The Cigna Group (NYSE:CI). The company’s biggest hedge fund investor is Larry Robbins’ Glenview Capital since it owns two million shares that are worth $579 million.

3. Generac Holdings Inc. (NYSE:GNRC)

Michael Burry’s Q2 2023 Investment: $8.2 million

Generac Holdings Inc. (NYSE:GNRC) is an industrial and power products manufacturer that makes and sells products such as generators and power control systems. Dr. Burry’s Scion Capital bought 55,000 shares of the firm during this year’s second quarter, at a time when there is some uncertainty about industrial stocks.

Along with him, 43 hedge funds out of the 910 polled by Insider Monkey for the same time period had also owned a stake in the company. Out of these, Generac Holdings Inc. (NYSE:GNRC)’s biggest shareholder is John W. Rogers’ Ariel Investments with a $260 million investment.

2. Charter Communications, Inc. (NASDAQ:CHTR)

Michael Burry’s Q2 2023 Investment: $9.1 million

Charter Communications, Inc. (NASDAQ:CHTR) is a telecommunications company that provides voice and broadband products and services as well as security software. The firm beat analyst EPS estimates for its second quarter, reversing a trend that had seen it miss the estimates for the previous three quarters.

As of June 2023, 67 of the 910 hedge funds surveyed by Insider Monkey had bought and owned Charter Communications, Inc. (NASDAQ:CHTR)’s shares. Natixis Global Asset Management’s Harris Associates is the company’s largest hedge funds stakeholder since it owns 5.3 million shares that are worth $1.9 billion.

1. Expedia Group, Inc. (NASDAQ:EXPE)

Michael Burry’s Q2 2023 Investment: $10.9 million

Michael Burry’s largest investment comes in the travel services firm Expedia Group, Inc. (NASDAQ:EXPE) which also beat analyst EPS estimates for its second quarter earnings. The firm is slated to heavily benefit from an uptick in global travel, and its fortunes appear to be positive given that large hospitality companies have also reported strong second quarter earnings.

57 of the 910 hedge funds part of Insider Monkey’s Q2 2023 database had invested in the travel company. Expedia Group, Inc. (NASDAQ:EXPE)’s largest shareholder among these is Paul Reeder and Edward Shapiro’s PAR Capital Management since it has a $371 million investment.

Disclosure: None.  You can also take a look at 15 Big Companies that Stopped Paying Dividends and 12 Best Performing Bank Stocks in 2023.

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