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


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.


This investment blog (the “Blog”) is created and authored by Mark W. Gaffney (the “Content Creator”) and is published and provided for informational and entertainment purposes only (collectively, the “Blog Service”). The information in the Blog constitutes the Content Creator’s own opinions. None of the information contained in the Blog constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. You understand that the Content Creator is not advising, and will not advise you personally concerning the nature, potential, value or suitability of any particular security, portfolio of securities, transaction, investment strategy or other matter. To the extent any of the information contained in the Blog may be deemed to be investment advice, such information is impersonal and not tailored to the investment needs of any specific person.

From time to time, the Content Creator or its affiliates may hold positions or other interests in securities mentioned in the Blog and may trade for their own account(s) based on the information presented. The Content Creator may also take positions inconsistent with the views expressed in its messages on the Blog.

The Content Creator may hold licenses with FINRA, the SEC or states securities authorities and these licenses may or may not be disclosed by the Content Creator in the Blog.

Investing in the investments discussed in the Blog may be risky and speculative. The companies may have limited operating histories, little available public information, and the stocks they issue may be volatile and illiquid. Trading in such securities can result in immediate and substantial losses of the capital invested. You should use invest risk capital, and not capital required for other purposes, such as retirement savings, student loans, mortgages or education.

Full Disclaimer.