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Tuesday, November 29, 2022

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“Big Short” Michael Burry Is Back In The Market: Here Are The Stocks He Bought

Three months ago, Michael Burry, who will forever be memorialized in the annals of market history as the “Big Short”, shocked  markets when after a series of extremely bearish statements…

… he put, or rather pulled, his money where his mouth was and liquidated virtually his entire portfolio, selling 12 positions and only holding on to one name, prison operator GEO Group.

So fast forward to today when just before noon, Michael Burry’s Scion Asset Management filed its latest 13F filing for the quarter ended Sept 30, and in which we find that the notorious bear is once again back in stocks, adding 5 new positions in addition to adding to his GEO stake (which he quadrupled from 500K share to just over 2MM shares), and also opening a new $10MM position in Quarate (QRTEA), a micro-cap company (market cap just $750MM) which engages in engages in the video and digital commerce via television networks and e-commerce sites, as well as smaller positions in Corecivic, Aerojet Rocketdyne, Charter Communications and Liberty Latin America.

His new portfolio is summarized below (new positions are shaded in green).

Of the above, while GEO has seen a sizable boost both today and YTD, readers may find QRTEA to be the biggest bang for the buck if looking for a quick flip thanks to its small capitalization, relative illiquidity, 5% short interest and the fact that it is trading just shy of its 52 week low.

Source: SEC

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