5 Stocks To Buy According to Michael Burry

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In this article, we discuss the top 5 stock picks of Michael Burry’s Scion Asset Management as of Q2 2023. To read the investment philosophy and details of Michael Burry’s Q2 bets, go directly to Michael Burry Stock Portfolio: 10 Stocks To Buy Now.

5. CVS Health Corporation (NYSE:CVS)

Percentage of Scion Asset Management’s portfolio as of Q2 2023: 0.39%

 In Q2, 2023, Scion Asset Management owned 100,000 shares of CVS Health Corporation (NYSE:CVS), valued at $6.913 million, covering 0.39% of the fund’s portfolio.

ClearBridge Investments made the following comment about CVS Health Corporation (NYSE:CVS) in its first quarter 2023 investor letter:

“At the same time, we exited health insurance company Cigna, whose strong outperformance over the last year has resulted in shares trading at a significant premium relative to competitor CVS Health Corporation (NYSE:CVS). Additionally, we view CVS Health’s underperformance as driven by temporary issues and believe it has a good likelihood of succeeding in its improvement initiatives following upgrades to the management team and its acquisition of Oak Street Health. As a result, we elected to swap our position in Cigna into CVS Health to capitalize on the valuation gap while maintaining similar exposure within the sector.”

Follow Cvs Health Corp (NYSE:CVS)

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