According to a Securities and Exchange Commission document released on Monday, Michael Burry slashed his investment portfolio in the third quarter, reducing it from more than 20 holdings to only six as of September 30. The transactions support his long-held belief that the stock market is in a bubble and on the verge of a historic collapse. Burry’s Scion Asset Management disclosed fresh investments in aerospace and defense behemoth Lockheed Martin, oil-drilling equipment provider Now, and biotech firm Scynexis. It also cut its CoreCivic share by 68 percent and its Geo Group investment by 54 percent, leaving only a minor stake in CVS Health. At the end of June, Scion liquidated all of its other positions, including options contracts on Alphabet and Facebook shares, as well as bearish put options on Tesla stock and Cathie Wood’s flagship Ark Innovation ETF.
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