• Michael Burry of “The Huge Brief” offered just about all of his shares final quarter.
• Burry’s Scion Asset Administration solely held a $3.Three million stake in Geo Group, a brand new submitting reveals.
• Scion owned $165 million of shares on the finish of March, excluding its Apple put choices.

Michael Burry, the investor of “The Huge Brief” fame, slashed his US inventory portfolio to a single holding within the second quarter, a SEC submitting revealed on Monday.

Burry’s Scion Asset Administration disclosed simply over 500,000 shares of Geo Group price $3.Three million. Geo invests in personal prisons and psychological well being services, and instructions a market capitalization of lower than $900 million.

Shut followers of Burry are prone to interpret his choice to successfully liquidate his portfolio as a foul omen. The hedge fund supervisor identified the “biggest speculative bubble of all time in all issues” final summer season, and warned homeowners of meme shares and cryptocurrencies that they had been careening in the direction of the “mom of all crashes.”

Extra just lately, he has cautioned traders to not get too excited concerning the latest rally in shares, as earlier downturns have seen numerous non permanent rebounds earlier than discovering a backside. He additionally warned the “silliness” in markets throughout the peak of the pandemic has returned, and tweeted over the weekend that he “cannot shake that foolish pre-Enron, pre-9/11, pre-WorldCom feeling.”

Scion’s portfolio comprised 11 shares price $165 million on the finish of March, excluding bearish put choices it held in opposition to 206,000 Apple shares.

The Scion chief has taken a knife to his portfolio up to now. He pared it from 20 holdings to 6 within the third quarter of final yr, lowering its worth from $140 million to $42 million within the house of three months.

Burry shot to fame after his billion-dollar wager in opposition to the mid-2000s housing bubble was chronicled within the e-book and the film “The Huge Brief.” He is additionally recognized for betting in opposition to Elon Musk’s Tesla and Cathie Wooden’s Ark Innovation fund final yr, and for investing in GameStop earlier than it grew to become a meme inventory.

Learn extra: A Michael Burry knowledgeable breaks down what makes the ‘Huge Brief’ investor particular. He additionally revisits Burry’s iconic guess in opposition to the housing bubble, and his GameStop, Tesla, and Ark wagers.