Michael Burry’s Hedge Fund Added One Inventory And Dumped All of the Relaxation


(Bloomberg) — Michael Burry’s Scion Asset Administration jettisoned 11 US equities within the second quarter and ended the interval with only one.

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The hedge fund exited positions together with Alphabet Inc. and Fb mother or father Meta Platforms Inc., whereas including private-prison operator Geo Group Inc., which was Scion’s solely lengthy inventory holding as of June 30, in response to a regulatory submitting Monday.

Scion held 501,360 shares of Boca Raton, Florida-based Geo Group, which surged 9.5% to $7.52 at 1:20 p.m. in New York, extending its achieve for the reason that finish of the second quarter to 14%.

Scion held as a lot as $165 million of US shares on the finish of the primary quarter.

Burry, 51, who rose to prominence after a profitable wager towards mortgages within the run-up to the 2008 monetary disaster, has grow to be a cult determine on social media in latest months, with ominous predictions of a looming downturn. In a Might tweet, he raised the specter of a crash just like the one 14 years in the past.

He declined to touch upon the submitting.

Learn extra: Michael Burry Posts Cryptic Tweet Elevating Specter of 2008 Crash

The disclosure, required for all cash managers overseeing greater than $100 million of US equities, solely exhibits holdings in shares that commerce on the nation’s exchanges. It doesn’t reveal non-US traded securities or brief positions. Such filings are additionally historic, offering a snapshot of a fund’s holdings on the finish of 1 / 4, and will not mirror present investments.

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