Michael Bur's Bold Investment Moves: A Deep Dive
The Q1 Reset
Michael Bur made a significant move in the first quarter of 2025. He completely sold out of 12 different companies, including major names across various sectors such as Chinese tech giants (Alibaba, JD.com, BU), big health care names (Molina, HCA), consumer brands (Canada Goose, VF Corporation), and fintech and insurance players (Oscar Health, American Coastal Insurance). This was not a random act. Bur has always been one to act when the crowd gets too comfortable. At that time, many of these stocks were riding momentum or relying on recovery hopes, but they didn't offer the protection, predictability, and price that Bur values. By clearing his portfolio, he freed up cash and gained the flexibility to wait for the right opportunities.
The Q2 Buys
In the second quarter of 2025, Bur returned to the market with a focused portfolio of five core holdings.
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Lululemon: This was his biggest buy, with 50,000 shares worth close to $11.9 million, making up over 21% of his portfolio. Despite not being a traditional value stock, its price has dropped nearly in half from its 2023 highs, and its price-to-earnings ratio has crashed below historical norms. Lululemon still has healthy margins and loyal customers worldwide, and Bur sees this as temporary fear rather than long-term decline.
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Brooker Corporation: A return play. Bur sold it in Q1 and bought it back in Q2 with 250,000 shares worth over $10 million, making up around 18% of his portfolio. Brooker builds essential scientific instruments for biotech and research. Although its Q2 results were a bit soft, the underlying business remains solid, and the stock is trading well below fair value estimates.
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Regeneron Pharmaceuticals: He picked up 15,000 shares, representing about 14% of his portfolio. Regeneron is a solid pharma powerhouse, reporting $3.68 billion in revenue in Q2, up 4% from the previous year, with a free cash flow of roughly $3.8 billion over the trailing 12 months. It's trading at a price-to-earnings ratio of around 14, well below its 10-year average of 26.
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Mercado Libre: Latin America's version of Amazon. He bought 3,000 shares worth $7.8 million, putting nearly 14% of his capital into it. Unlike the other stocks, it isn't cheap by traditional metrics, with a price-to-earnings ratio above 58. However, it posted strong growth in Q2, with revenue up 34% year-over-year and a booming fintech division. This seems to be a bet on future dominance.
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United Health Group: He bought 20,000 shares, giving it about 11% of the portfolio. United Health is a large, stable, cash-rich healthcare leader that has been temporarily knocked down due to concerns about tightening margins and rising costs. Despite bringing in $111.6 billion in revenue in Q2, up 12.8% year-over-year, it's trading at a price-to-earnings ratio around 13, far below its average.
The One Sale: Estee Lauder
There was one small sale in Q2, a 25% reduction in his Estee Lauder stake. Since he had doubled the position in Q1, this seems more like trimming to lock in gains or make room for higher conviction picks.
The Pattern in Bur's Moves
When looking at all of Bur's Q2 moves together, a pattern emerges. Despite being in different industries, each company is a leader in its space. They all face short-term skepticism, such as a dip in growth, margin concerns, or fear of consumer pullback, but they are not broken. They are durable cash generators with pricing power. Bur is buying proven performance when the market is distracted by short-term noise.
Lesson for Investors
The key takeaway from Bur's approach is not to copy his exact portfolio but to adopt his mindset. Don't chase popularity or buy the dip just because prices are lower. Focus on strong, durable, and misunderstood businesses. Be patient enough to wait for the right entry point, even if it means clearing your portfolio first. Do your own thinking, trust your analysis, and be willing to go against the grain when the math makes sense. The biggest opportunities often become clear when you take a long-term view.
Buffett's Contrasting Moves
While Bur is buying, Buffett has sold over $6 billion worth of stocks. To find out what he's letting go and why, click the video on screen.