Michael Burry, the hedge fund manager known for betting – and winning – against the US housing market during the 2008 financial crisis, is back on the market.
Three months ago, the contrarian manager sold nearly his entire portfolio, selling 12 positions.
The only position Burry held was with the GEO Group, a company that invests in private prisons and mental hospitals.
Back in the game
According to one SEC filing his fund, Scion Asset Management, bought shares in five companies and further loaded them into the GEO group.
In the latter tranche, Burry quadrupled his holdings from 500,000 shares to just over 2 million. As of 30 September, the position was valued at more than USD 15.5 million – NOK 155 million.
In addition, Scion Asset Management took over $10 million in Qurate Retail, as well as smaller positions in Aerojet Rocketdyne, Charter Communications, Corecivic and Liberty Latin America.
In total, Barry’s portfolio was valued at $41.3 million (as of Sept. 31). By comparison, it was worth $3.3 million at the end of June this year. Incidentally, that’s just a fraction of the size at the end of March, when the portfolio contained 11 shares worth a total of $165 million.
