Michael Burry Raises Alibaba Stake, Cuts Stock Portfolio in Half
- Alibaba overtakes JD.com as Scion’s top holding as of June 30
- Firm unloaded positions in HCA Healthcare, Cigna, Citigroup
Michael Burry
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Michael Burry, the hedge fund manager famous for his 2008 bet against the US housing market, further increased his stake in Alibaba Group Holding Ltd. while slashing his overall equity portfolio in half in the second quarter.
Scion Asset Management, Burry’s investment firm, reported an $11.2 million position in Alibaba in the quarter, up from $9 million in the first quarter after adding 30,000 shares, according to the firm’s most recent 13F filing Wednesday. Shift4 Payments Inc. was the firm’s second-biggest holding, with total net value of around $7.3 million as the company initiated a new position in the stock, buying 100,000 shares during the quarter, the filing showed.