Here are 5 Stocks Michael Burry is selling

Investor Michael Burry has made a name for himself in the investment circle since the days of the dot com bubble to date. His investment choices have partly influenced the investment choices of his followers. A recent example was his investment in GameStop Corp. in 2019 which contributed to laying the foundation of the stock frenzy earlier this year.

Before entering the second quarter Burry sold off his entire stake in the listed stocks but retained his holding on Tesla stock (NASDAQ: TSLA).

HollyFrontier Corporation (NYSE: HFC)

HollyFrontier Corporation is a petroleum refining company headquartered in Texas. In the past twelve months, the company’s investors have received over 19% returns on their investment. Earlier this year, Burry sold his entire stake in the company. In the first quarter of the year, HollyFrontier reported mixed earnings results on May 5. Its earnings per share was $0.53, down $0.07 from market estimates. However, its revenue of $3.5 billion beat market estimates by $680 million. 

The company has 20 hedge fund holders in its portfolio with Arrowstreet Capital leading the list with 1.6 million shares worth more than $57 million.

Kimball International, Inc. (NASDAQ: KBAL)

Kimball International, Inc. is a furniture-making company with a worldwide reach. Over the past twelve months, the company has returned 15% to its investors. Kimball is a healthy option for investors who want to retire early because of its reasonable dividend payments. On April 26, the firm announced a quarterly dividend of $0.09 per share.

Kimball International has 16 hedge funds in its holdings with a total stake worth $478 million, down from 18 worth $627 million in the preceding quarter.

The Allstate Corporation (NYSE: ALL)

The Allstate Corporation is an insurance products marketing company with markets in the United States and Canada. In the last 12 months, the company has returned 41% to investors. On July 1, JPMorgan selected the stock as one of the top choices in the insurance sector ahead of its expected earnings results for the second quarter.

 Allstate currently has 41 hedge funds in its portfolio, according to Insider Monkey. The hedge funds hold a total stake worth $893 million, up from $838 million in the preceding quarter.

Discovery Inc. (NASDAQ: DISCA)

Discovery Inc. is a top media firm that operates worldwide. It offers entertainment and education services in 50 languages. In the last year, the company has returned 49% to its investors. On May 17, the company announced a merger with WarnerMedia in a $43 billion deal, making its shares jump 16% after the deal was sealed.

Discovery Inc. has 48 hedge funds in its holdings with Renaissance Technologies topping the list, according to Insider Monkey.

Ares Capital Corporation (NASDAQ: ARCC)

Ares Capital Corporation is a New York-based business development company. It is regarded as one of the best options in the market when it comes to dividend payment. In the last 12 months, Ares Capital returned 37% to investors. The company reportedly priced an underwritten public offering worth $850 million unsecured notes expected to mature in 2028. The net proceeds will be used to settle all outstanding debt.

According to Insider Monkey, Ares Capital has 15 hedge funds in its holding with Two Sigma Advisors topping the list with 1.4 million shares worth $26 million.