Shares of Geo Group (NYSE:GEO) are at the center of attention after Michael Burry’s Scion Asset Management reported the company as its only second-quarter 13F holding, selling off all other stocks. Monday was the deadline for institutional investors to file their Q2 13F, which provides retail investors with a snapshot of stocks institutions own as of June 30.
During the quarter, Burry dumped his stakes in 12 companies, including Google (NASDAQ:GOOG, NASDAQ:GOOGL), Booking (NASDAQ:BKNG) and Bristol-Myers Squibb (NYSE:BMY). His entire GEO stock stake of 501,630 shares was bought during the second quarter, worth about $3.3 million at the end of Q2. Meanwhile, Scion holds stocks in its 13F portfolio for an average of six quarters.
Geo operates as a real estate investment trust, or REIT, that specializes in prison properties and is the world’s second-largest private “prison company.” Let’s get into the details.
This post originally appeared at InvestorPlace.