Inside Michael Burry’s Updated Portfolio — The Big Short Just Went Long

Michael Burry's portfolio just got a lot bigger. After selling nearly all of his positions, he's now all-in on these six stocks.

Justin Nugent

This article was last updated on 11/15/2022.

Michael Burry has had a few notable wins in his career. Back in 2008, Burry famously made a highly successful bet on the failure of subprime mortgages at the beginning of what would become known as the Global Financial Crisis. 

Years later, Burry bucked the trend of Wall Street once again when he put money on Gamestop two years before the short squeeze. That move would later get Burry subpoenaed by the SEC for his potential involvement in GME’s volatile price action.

Whether you agree or disagree with him, there’s no denying that Michael Burry has a knack for predicting market movement. That’s why many of his followers watch closely whenever he updates his portfolio. 

Michael Burry’s Updated Portfolio: The Big Short Goes Long 6 Stocks

During Burry’s last portfolio update, a 13-F filing revealed that he had sold all of his stock positions except for one: 

GEO Group Inc. (GEO): 

  • 37.65% of portfolio
  • 2,019,150 shares
  • Average Share Price: $7.70

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Founded in 1984, GEO Group is a publicly traded corporation that invests in private prisons and mental health facilities. Since Burry originally purchased it last quarter, shares of GEO are up nearly 20%. 

Now, we know that Burry has doubled down on his private prison bet in a big way — increasing his position by more than 300%. — with another $15.5 million dollar purchase. 

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Qurate Retail Group Inc. (QRTEA)

  • 24.34% of portfolio
  • 5,000,000 shares
  • Average Share Price: $2.01

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Qurate Retail Group is essentially a small-cap video and e-commerce business that functions internationally, from North America, to Europe, to Asia. 

Like Burry’s GEO purchase, shares of QRTEA are trading significantly higher than Burry’s original trade price — higher by nearly 17% at the time of writing. 

CoreCivic Inc. (CXW)

  • 15.52% of portfolio
  • 724,895 shares
  • Average Share Price: $8.84

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What a surprise — It’s another prison stock. According to CoreCivic’s website, CoreCivic is, “the nation’s leading provider of high-quality corrections and detention management.” The website’s mission statement goes on to state that they also deliver real estate services through a subsidiary, CoreCivic Properties. 

Since Burry’s initial purchase, shares of CoreCivic are higher by a whopping 31%!

Aerojet Rocketdyne Holdings (AJRD)

  • 12.84% of portfolio
  • 132,561 shares
  • Average Share Price: $39.99

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We got dirty with the prison stocks — not let’s get even dirtier, with war stocks. Indeed, Aerojet Rocketdyne is an American producer of “rocket, hypersonic, and electronic propulsive systems for space, defense, civil, and commercial applications.”

Since Burry’s initial purchase of AJRD, shares are up more than 24%.

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Charter Communications (CHTR)

  • 7.35% of portfolio
  • 10,000 shares
  • Average Share Price: $303.40

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Likely the most well known name on this list, Charter bills itself as the “leading broadband connectivity company and cable operator” — but you might know this service as Spectrum. For many people, Charter is the only available option in their area for high speed internet. 

Shares of Charter Communications are higher by 29.2% since Michael Burry’s initial purchase.

Liberty LILAC Group (LILAK)

  • 2.32% of portfolio
  • 155,761 shares
  • Average Share Price: $6.15

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Last on the list is Liberty LILAC Group — a “leading telecommunications company operating across Latin America and the Caribbean.” Despite being a little-known small-cap name, shares of LILAK have performed the best for Burry of any of the above trades — currently higher than his average purchase price by more than 34%! 

Why Did Michael Burry Buy Into the Stock Market?

Michael Burry is notoriously bearish on the market, having recently said, 

“​​Net consumer credit balances are rising at record rates as consumers choose violence rather than cut back on spending in the face of inflation. Remember the savings glut problem? No more. COVID helicopter cash taught people to spend again, and it’s addictive. Winter is coming.”

That doesn’t seem like the type of sentiment that would lead a smart investor like Burry to buy-in to the stock market, however, take a look at his picks. Two different prison companies. A proprietor of American-made missiles. And three companies that either provide global connectivity, or operate within the confines of that connectivity. That isn’t by mistake.

If Burry’s anticipating another meltdown, he may also be anticipating that more debt leads to more desperation, turning drastic measures into illegal activity. He may believe that growing global tensions present an opportunity to play on the fear, with a little known missile company. And lastly, whether things go awry or not, everybody needs telecommunication services, like the internet and phone. 

In short: Burry is still bearish, but he isn’t bearish on everything

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