Michael Burry Adds to China Big Tech Wager as Stock Rout Deepens
- Alibaba, JD.com are Scion’s top holdings after stakes boosted
- Firm reopened positions in companies in the third quarter
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Michael Burry, the money manager made famous in the Big Short, added to wagers on Chinese tech giants Alibaba Group Holding Ltd. and JD.com Inc. in recent months even as a rout in the country’s shares deepened.
Alibaba is now Scion Asset Management’s top holding after Burry’s investment company boosted its stake in the e-commerce giant by 50% in the period ended Dec. 31, according to the firm’s most recent 13F filing. While the stake was only $5.81 million, it’s a starkly contrarian bet on China’s largest online retailer. Smaller rival JD.com Inc. was Scion’s second biggest holding at $5.79 million after the firm increased its position by 75,000 shares.