American investor and hedge fund manager Michael Burry is buying shares again after selling most of his portfolio earlier this year.
Burry, who predicted the subprime mortgage crisis and was made famous by the 2015 film The Big Short, warned of a huge stock market crash.
Last year, he warned of the “greatest speculative bubble of all time in all things” and warned investors that the “mother of all crashes” was on the cards.
He doubled down this year, saying the S&P 500 could drop by more than 50% over the next few years.
He backed it up by selling all the shares in his portfolio. His previous Securities and Exchange Commission (SEC) filing revealed he only held one share – private prison operator Geo Group.
Shares he sold included Alphabet, Facebook parent Meta, Bristol-Myers Squibb, Booking Holdings, and Ovintiv.
Burry’s latest SEC filing for his Scion Asset Management firm showed that he is buying shares again. He quadrupled his stake in Geo Group and invested in five other companies.
- Qurate Retail – An American media conglomerate which specialises in video commerce, including video-driven shopping across linear TV, eCommerce sites, digital streaming, and social media.
- Aerojet Rocketdyne – An American manufacturer of rocket, hypersonic, and electric propulsive systems for space, defence, civil, and commercial applications.
- Charter Communications – An American telecommunications and mass media company which offers broadband connectivity and cable services under the Spectrum brand.
- CoreCivic Safety – An American company that owns and manages private prisons and detention centres.
- Liberty Latin America – A telecommunications company operating in over 20 countries across Latin America and the Caribbean.
With these latest additions, Scion Asset Management grew its portfolio to $41.3 million from only $3.3 million three months earlier.
However, it is still significantly smaller than the firm’s $165 million portfolio at the beginning of the year.
The table below shows Scion Asset Management’s latest holdings.
|Company||Holding ($ 1000)|
|Liberty Latin America||958|