The "big short" prototype shorted Apple, no longer shorting Tesla.
The archetypal character of the movie "Big short" is shorting Apple stock, according to 13F filings filed Monday by Michael Burley's investment firm Scion Asset Management.
Source: Sina Finance
As of March 31, Mr. Burley held 206000 put options on Apple stock. If executed, the short position is estimated to be worth $36 million, making it the largest position in Burley's portfolio.
Apple shares are down 20% so far this year after rising strongly over the past three years.
Burley used to be bullish on Apple, and in 1999 he pointed out that Apple shares are worth investing in by Warren Buffett. Buffett didn't start investing in Apple until 2016.
As of the end of last year, Burley's investment company held only six stocks. In the first quarter of this year, the company cleared five stocks other than Bristol-Myers Squibb, but included companies such as Alphabet, Meta and Discovery in its portfolio.
By the end of the first quarter, the total value of Burley's holdings of u.s. stocks, excluding options, rose 122% to $165 million. Its largest long position is a $22 million stake in Bristol-Myers Squibb, about $19 million in Booking Holdings and Discovery, and a $18 million stake in Alphabet.
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