“Big Short” Bury opened a position on QXO (QXO.US), betting on the integration and undervaluation of construction products, and the stock price rose more than 7%

The Zhitong Finance App learned that investor Michael Berry revealed that he had bought common shares and preferred shares of construction products company QXO (QXO.US) due to its consolidation strategy and currently sluggish stock prices. The stock jumped 7.2% on Monday. As of press release, it had risen 2.5% after the market.

Burry became famous for shorting the US housing market before the 2008 financial crisis, and became one of the prototype characters in the movie “The Big Short.” He disclosed the investment through a Substack post.

“QXO is a rolling merger and acquisition integration platform for the construction products sector. In this industry, the effect of scale is a reality.” Barry wrote.

He said that as QXO expands through acquisitions, its economic benefits should improve. Burry also pointed out that the company's CEO Brad Jacobs has a good track record in building the company through integration.

“The stock price has dropped drastically, and I think this is an opportunity to enter the market.” Barry wrote.

QXO pursues an aggressive acquisition strategy in a highly fragmented construction products distribution market. The company completed the acquisition of Beacon Roofing Supply in 2025, thereby gaining a large distribution network to serve the roofing materials and other construction markets.

For investors, Bury's purchase has added a well-known value investor to the QXO shareholder camp, but its investment logic depends to a certain extent on whether management can successfully push forward more acquisitions and reap the benefits from the expansion of scale. Meanwhile, QXO is still affected by construction and renovation demand, so any pace of recovery in the housing market is critical to its performance.