GEO - 56% of Michael Burry's $47 Million Portfolio Is Invested in Just 3 Stocks
Michael Burry developed quite a reputation in the investing world after being one of the few investors to essentially short the housing market. Despite pushback from his own investors at the time, Burry purchased credit default swaps on mortgage bonds and ended up making $800 million for himself and his investors.
Today, Burry still regularly invests through his fund Scion Asset Management, although he's pretty choosy. At the end of 2022, Scion only held nine stocks, and 56% of his portfolio was invested in just three stocks. Let's take a look.
With a market cap of around $1.2 billion, the government service provider Geo Group (NYSE: GEO) isn't exactly the stock one might think would make up a quarter of Scion's portfolio. But it looks like Burry has done OK on it, with Scion purchasing the bulk of its shares when the stock traded around $6.30 and $7.38. Scion sold about 47% of its position in the fourth quarter for an estimated average cost of $9.70, and the stock currently trades around $9.50.
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56% of Michael Burry's $47 Million Portfolio Is Invested in Just 3 Stocks