Burry has made 170 trades and holds only 3 stocks right now
Michael Burry's disclosed record carries 170 trades against 3 stocks currently held, a ratio of 56.7 to 1. Li Lu and Warren Buffett both sit under 4 to 1 on the same measure. The gap is a second, independent number pointing at the same fast-turnover style already visible in Burry's short median holding period.
Michael Burry's disclosed trading record shows 170 trades. He currently holds 3 stocks. Divide one by the other and the ratio is 56.7 closed or historical trades for every position still open today. That is not a rounding artifact of a small number holding steady, it is 167 trades that no longer show up as a current position against 3 that do.
Li Lu and Warren Buffett both look nothing like this on the same measure. Li Lu has made 14 trades and holds 9 stocks now, a ratio of 1.56 to 1. Warren Buffett has made 140 trades and holds 39 stocks now, a ratio of 3.59 to 1. Burry's ratio is more than 15 times Buffett's and more than 36 times Li Lu's, on the same three tracked investors this site already compares on win rate, expectancy, and holding period.
A second number pointing at the same style
Tenachine's guide on holding period and return skew already found Burry's median holding period the shortest of the three tracked investors, 0.25 years, three months, against Li Lu's 2.625 years and Buffett's 3.125 years. A short median hold and a high trades-to-current-holdings ratio are two different measurements, one about time and one about count, and they agree here. A manager who cycles through positions quickly should, all else equal, carry fewer of them forward into the current snapshot relative to how many were ever opened. Burry's 56.7 to 1 ratio and his 0.25-year median hold are two independent readings of the same underlying pattern, not two versions of the identical number restated.
What the ratio does not establish on its own
A high ratio like Burry's does not by itself mean a more successful or less successful record. Tenachine's guide comparing expectancy across these same three investors found Burry's expectancy the lowest of the three, 6.93 percent per trade, but that came from the size of his typical win against his typical loss, not from how many positions he still holds today. A manager could run this same high a ratio with a strong record or a weak one. Three stocks currently held is also a narrow base on its own: a single position closing next quarter would change Burry's count from 3 to 2, a one third swing, while Buffett's 39 would barely move on the same kind of change, and Li Lu's 9 sits in between, sensitive to a change of one or two positions but nowhere near as volatile a base as Burry's 3. The ratio says something specific about turnover and current concentration. It does not say whether that turnover paid off, and reading the two together, a low current count and a high ratio, without checking the sample size behind each number risks treating a fragile base as a settled fact.
None of this is investment advice, and a 13F discloses long US equity positions at one point in time, not a full trading history. Some of Burry's 170 disclosed trades may be partial adds or trims to positions rather than fully independent opens and closes, a detail this data does not separate out, so 170 is a count of disclosed transactions, not necessarily 170 distinct investment decisions made from scratch. Past performance does not predict future results, and neither does a ratio built from one investor's disclosed record.