Michael Burry of ‘The Big Short' increases Alibaba stake, halves stock portfolio

Investing.com - Michael Burry, the hedge fund manager famous for his 2008 bet against the US housing market depicted in "The Big Short," has further increased his stake in Alibaba Group Holdings Ltd ADR (NYSE: BABA) while significantly cutting his overall equity portfolio in half during the second quarter.

Scion Asset Management, Burry’s investment firm, reported an $11.2 million position in Alibaba for the quarter, up from $9 million in the first quarter, adding 30,000 shares, according to the firm’s most recent 13F filing on Wednesday.

Shift4 Payments Inc (NYSE: FOUR) emerged as the firm’s second-biggest holding, with a total net value of around $7.3 million, as Scion initiated a new position by purchasing 100,000 shares during the quarter.

As part of its portfolio restructuring, Scion built new positions across various industries, including financial services, healthcare, and commercial real estate. New stakes in Shift4 Payments, Molina Healthcare Inc (NYSE: MOH)., and Hudson Pacific Properties Inc (NYSE: HPP) were each valued at over $5.5 million. Scion also added positions in Olaplex Holdings Inc (NASDAQ: OLPX) and Bioatla Inc (NASDAQ: BCAB).

Conversely, the firm exited several positions, including HCA Holdings Inc (NYSE: HCA), Citigroup Inc (NYSE: C), Block Inc (NYSE: SQ), Cigna Corp (NYSE: CI), and Advance Auto Parts Inc (NYSE: AAP). It also reduced its holdings in JD.com Inc (NASDAQ: JD) and luxury reseller TheRealReal Inc (NASDAQ: REAL).

Overall, Scion holds positions in 10 stocks with a total value exceeding $52 million, which is nearly 50% less than the previous quarter.

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