US stock market update: Which US stocks are legendary investors like Warren Buffett & Michael Burry buying?

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Warren Buffett Portfolio

How will markets open today?

  • Stock futures indicate a negative opening for US stock market amid rate hike fears.
  • AMC Entertainment stock down 33% in pre-market ahead of the debut of its “APE” preferred equity units.
  • Netflix share price fell in pre-market after CFRA downgraded the stock to “Sell” from hold.
  • Palo Alto Networks and Zoom Video to report quarterly earnings today.
  • Ford stock down in pre-market post jury ruling assessing a $1.7 billion verdict against the firm.

Check out what legendary investors bought and sold in the June quarter:

Warren Buffett

  • Buffett's Berkshire Hathaway raised its stakes in Chevron and Occidental Petroleum in the June quarter, with a net outlay of $3.8 billion.
  • That shows that Buffett is bullish on energy prices staying high in the short term atleast.
  • Berkshire also boosted its stake in Apple, Activision Blizzard, Ally Financial, Paramount, Celanese and exited its position in Verizon.

Michael Burry

  • The Big Short fame Michael Burry effectively liquidated his US stock portfolio in the June quarter.
  • Burry sold all his 11 holdings and added a single position in Geo Group.
  • This slashed value of his portfolio from $165 million to $3.3 million.
  • Burry has repeatedly warned of a market crash and he might be anticipating a devastating downturn.

Ray Dalio

  • Ray Dalio's Bridgewater ramped up Big Tech bets in the June quarter.
  • He raised stake in Meta Platforms more than 50-fold, and its Alphabet position by over 25-fold.
  • Dalio also raised bets on Apple, Microsoft, Netflix, and took a new position in Amazon.

George Soros

  • George Soros bought a stake in Tesla worth $20 million in the June quarter.
  • Soros might have seen Tesla in bargain territory, as it dropped by 38% in the period.
  • However, he slashed its bet on Rivian by nearly a third, probably due to its overvaluation, or he is more bullish on Tesla.

Stanley Druckenmiller

  • Stanley Druckenmiller sold their entire stake in Amazon, and slashed their Microsoft holdings by about 25% in the June quarter.
  • Stanley believes bear market is far from over and may have sold in anticipation of a deeper tech sell-off in the coming months.
  • This is quite opposite to Ray Dalio’s view on tech stocks.
  • Which stocks did Warren Buffett buy in June quarter?

  • Which is the only stock held by investor Michael Burry in his portfolio?

  • Which companies will report earnings today?