Michael Burry Exits Alibaba, JD.com Stakes in Portfolio Overhaul

Chinese tech giants had been his hedge fund’s biggest holdings
Expedia emerges as Scion Asset Management’s top equity pick

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By Hema Parmar and David Marino

August 14, 2023 at 8:10 PM UTC

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Michael Burry’s Scion Asset Management exited its stakes in Alibaba Group Holding Ltd. and JD.com Inc. in the second quarter, ditching the stocks just months after doubling down on them.

That’s a stark turnaround, considering the two Chinese tech giants comprised 20% of the firm’s portfolio and were its top two equity holdings at the end of March.