Star investor was heavily invested in US banks

Dusseldorf Michael Burry is known for being a star investor who likes to go against the mainstream. However, his depot published by the US Securities and Exchange Commission SEC this Monday evening has a special surprise in store: The 51-year-old was heavily invested in bank shares – an industry whose shares have recently been under pressure.

The SEC’s announcement is as of March 31. According to the documents, Burry held shares in six US banks worth a total of $23.4 million at the time through his hedge fund Scion Asset Management. This corresponds to almost 22 percent of the shares held at the time.

At the time, Burry not only owned shares in Huntington Bancshares, New York Community Bancorp, Western Alliance Bancorp, and Wells Fargo, but also in First Republic and Pacwest. The ailing First Republic was taken over by the major bank JP Morgan in an emergency sale, while Pacwest is currently struggling to survive.