By Sam Boughedda
'Big Short' fund manager Michael Burry's Scion Asset Management filed its 13F for the quarter on Monday, revealing he has added five new companies to his portfolio.
Burry, best known for his short position against the housing market ahead of the financial crash in 2008, added new stakes in Aerojet Rocketdyne Holdings Inc (NYSE:AJRD), Charter Communications (NASDAQ:CHTR), CoreCivic (NYSE:CXW), Liberty Latin America Ltd (NASDAQ:LILAK), and Qurate Retail Group, Inc. (NASDAQ:QRTEA).
The filing revealed Burry acquired 724,895 shares in prison operator CoreCivic, worth approximately $7.8 million, while adding around 1.5M shares to his position in another prison company, Geo Group (NYSE:GEO). Burry's Geo Group stake is currently worth around $17.3M, the largest in his portfolio. The company's shares are up over 11% in 2022.
CoreCivic is up around 10% this year, while Aerojet has gained 5% in 2022. On the other hand, liberty Latin America is down about 28% this year, with Qurate falling over 76% and Charter Communications declining almost 40%
Burry has previously tweeted out a number of warnings to investors regarding a further decline in the stock market. In the second quarter, he ditched his entire portfolio, which included a stake in Facebook (NASDAQ:META) parent Meta Platforms, replacing them with a position in Geo Group.