(Bloomberg) — Michael Burry’s Scion Asset Management 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 Facebook dad or mum Meta Platforms Inc., whereas including private-prison operator Geo Group Inc., which was Scion’s solely lengthy inventory holding as of June 30, in line with 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 successful wager in opposition to mortgages within the run-up to the 2008 monetary disaster, has turn into a cult determine on social media in current months, with ominous predictions of a looming downturn. In a May tweet, he raised the specter of a crash much like the one 14 years in the past.
He declined to touch upon the submitting.
Read extra: Michael Burry Posts Cryptic Tweet Raising 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 should not mirror present investments.
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