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Burry goes short regional banks in Q1

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Scion Asset Management, the hedge fund founded by Michael ‘Big Short’ Burry, placed wagers against several US regional banks following the demise of Silicon Valley Bank and Signature bank, according to a report by Reuters, citing securities filings released on Monday.

Scion Asset Management, the hedge fund founded by Michael ‘Big Short’ Burry, placed wagers against several US regional banks following the demise of Silicon Valley Bank and Signature bank, according to a report by Reuters, citing securities filings released on Monday.

The 13-F filings showed that the firm’s positions include 150,000 shares in First Republic Bank, 250,000 shares in PacWest Bancorp, 850,000 shares in New York Community Bancorp, and 125,000 shares of Western Alliance Bancorp.

First Republic collapsed on 1 May, making it the largest bank failure since the 2008 financial crisis, although its not clear whether Scion had sold its positions before then.

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