In the second quarter, Michael Burry liquidated nearly his entire portfolio, including tech giants Alphabet and Meta Platforms.
In the third quarter, the hedge-fund manager at Scion Asset Management who correctly predicted the 2008 financial crisis and was chronicled in “The Big Short” began buying stocks again, according to a Securities and Exchange Commission filing.
He still has an equity portfolio — at least of U.S.-listed securities — more than 50% weighted to the prison sector. Alongside GEO Group
Burry’s one holdover from the second quarter, he now owns CoreCivic
which previously was called the Corrections Corp. of America before adopting a less prison-y name.
But he also now has a few other companies that aren’t directly plays on incarceration, including Qurate Retail
which owns the home shopping channel QVC. Aerojet Rocketdyne Holdings
and Liberty Latin America
round out his portfolio of U.S.-listed securities.
Qurate shares jumped 15% at the open.
Burry also holds companies outside the U.S., including South Korean battery maker Vitrzocell and Hanatour Japan
a tour operator, according to data from FactSet. Those holdings are not reported on 13-F filings from the SEC.
Burry, who has a habit of writing and then deleting his tweets, has made clear that he is not particularly optimistic about the prospects for the U.S. economy and the U.S. stock market more generally. His warning over cryptocurrencies proved prescient as the sector reels from the latest collapse, the exchange FTX.