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Well-known investor Michael Burry has opened a new position in luxury parka maker Canada Goose (GOOS).
The latest 13-F disclosure filed with the U.S. Securities and Exchange Commission (SEC) shows that Burry purchased 24,838 shares of Canada Goose in the fourth quarter of 2024.
According to the regulatory filing, Burry paid an average of $10.38 U.S. for the stock that is traded in both New York and Toronto, bringing his total investment to $257,818.44 U.S.
The position is relatively small for Burry’s hedge fund, Scion Asset Management, which had assets under management (AUM) of $196.20 million U.S. at the end of last year.
However, the purchase of Canada Goose shares is notable as it was one of only a handful of new stocks Burry bought during the final months of last year.
Burry is known for running a concentrated portfolio and only owned 13 stocks as of Dec. 31, 2024.
The purchase of Canada Goose also comes as the Toronto-based company has struggled with declining sales and poor share performance in recent years.
Over the past 12 months, Canada Goose stock has fallen 27%, bringing its five-year decline to 67%.
Burry is known for shorting the U.S. sub-prime mortgage market ahead of the 2008-09 financial crisis, an event that was chronicled in the book and film called “The Big Short.”
Since making a fortune when the U.S. real estate market imploded in 2008, Burry has styled himself as a value investor and someone who favors contrarian stock picks.
In addition to Canada Goose, Burry opened new positions in cosmetics company Estee Lauder (EL) and VF Corp. (VFC), the apparel company behind brands such as “The North Face” and “Timberland.”
Burry sold his entire positions in the stocks of Shift4 Payments (FOUR) and The RealReal (REAL) during the final months of 2024.
Canada Goose stock is currently trading at $10.09 U.S. per share, having risen 2% so far this year.
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