Michael Burry Boosts Bets on China Big Tech as Stocks Rebound
- JD.com overtakes Alibaba as Scion’s top holding as of March 31
- Firm’s new disclosure includes Baidu with 40,000 shares added
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Michael Burry’s investment firm doubled down on its bets on JD.com Inc and Alibaba Group Holding Ltd. in the first quarter as Chinese equities bottomed out.
JD.com was Scion Asset Management’s top holding after the firm boosted its stake in the e-commerce operator by 80% during the period, according to the most recent 13F filing. Alibaba was its second-biggest position with total value at around $9 million, after the firm added a further 50,000 shares.