Michael Burry’s Scion Capital added Jack In The Box in a volatile Q1. JACK was #2 holding, GOOG closed.

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Dr. Michael Burry’s Scion Capital added Jack In The Box (JACK) to its portfolio in Q1 of 2020. According to a 13F filed today, the manager, famous as the focus of the book and movie The Big Short, made the fast-food company his #2 position. It’s impossible to calculate Scion Capital’s exact cost basis on the 300,000 share stake — JACK’s price ranged from a high of $89.59 on Feb. 21 to a low of $16.81 on March 18. But Burry, a renowned value investor, most likely became interested as the stock crashed.

While restaurants have been hurt badly by the coronavirus lockdown, those offering drive-up service have fared relatively better. Since Scion Capital added JACK in Q1, the shares have rebounded 300%.

In Q1, Burry expanded Scion’s portfolio from 13 to 18 positions. Scion Capital added JACK, Facebook (FB), Boeing (BA), Discovery Inc. (DISCA), and Michaels Companies (MIK). He also added call option positions on Las Vegas Sands (LVS), Foot Locker (FL), Qourvo (QRVO), Cracker Barrel (CBRL) and Wynn Resorts (WYNN).

Burry closed out five positions, including Alphabet Inc. (GOOG), the fund’s #3 position at Q4’s end.

Scion Capital Q1 2020 13F Positions

StockSymbolTypeShares Held% ChangeRankingMarket Value% of PortfolioQtr first ownedsource_typesource dateEst Avg Price
Gamestop corp.  class aGME 2,801,929(17.59%)115,354,57117.82% 13D05/04/2020 
Jack in the box  incJACK 300,000 new210,515,00012.21%Q1 202013F03/31/202035.05
Qorvo incQRVO 125,00066.67%310,079,00011.70%Q4 201913F03/31/2020101.99
Facebook incFB 60,000 new410,008,00011.62%Q1 202013F03/31/2020166.80
Maxar technologies ltdMAXR 900,00038.46%59,612,00011.16%Q4 201913F03/31/202014.28
Boeing companyBA 60,000 new68,948,00010.39%Q1 202013F03/31/2020149.14
Discovery inc series aDISCA 350,000 new76,804,0007.90%Q1 202013F03/31/202019.44
Michaels companies inc. (the)MIK 3,250,000 new85,265,0006.11%Q1 202013F03/31/20201.62
Las vegas sands corpLVSCALL68,500 new92,909,0003.38%Q1 202013F03/31/2020 
Tailored brands incTLRD 1,700,000(57.50%)102,380,0002.76% 13D05/05/2020 
Foot locker inc. (f. w. woolworth)FLCALL100,000 new112,205,0002.56%Q1 202013F03/31/2020 
Qorvo incQRVOCALL13,000 new121,048,0001.22%Q1 202013F03/31/2020 
Cracker barrel old country store  inc.CBRLCALL6,700 new13558,0000.65%Q1 202013F03/31/2020 
Wynn resorts ltdWYNNCALL7,700 new14463,0000.54%Q1 202013F03/31/2020 
Blackberry ltdBB 0(100.00%)1500.00%Q4 201913F03/31/20206.42
Cenovus Energy
CVE 0(100.00%)1600.00%Q4 201913F03/31/202010.15
Alphabet inc. class cGOOG 0(100.00%)1700.00%Q2 201913F03/31/20201080.91
Sportsmans warehouse holdings incSPWH 0(100.00%)1800.00%Q4 201813F03/31/20204.27
Covetrus incCVET 0(100.00%)1900.00%Q4 201913F03/31/202013.20

GME remains Burry’s top holding despite recent selling

Scion Asset Management’s top position remains Gamestop (GME). Burry first filed a 13D on the gaming retailer in August of last year, and increased his stake to 5.30% position on April 2. However, in a 13/D/A filing submitted on May 6 Burry disclosed the sale of 598,000 shares dropping his stake below 5%. One day later Burry disclosed selling 2.3 million shares of Tailored Brands (TLRD), another retailer that has been a loser to date for Scion Capital.

Remember that the 13F Filing only discloses Scion Capital’s long positions. It’s a sure bet that the “Big Short” manager also had some short market bets during Q1.

You can follow insider buying and other SEC filings at the SEC’s Edgar website or at sites like WhaleWisdom.com.

Contact Mark about investing based on SEC filings and smart money disclosures.

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