'Big Short' Fame Michael Burry Bets Big On China, Reveals Alibaba As Top Holding — JD.com And Baidu Also Feature On Scion's Portfolio

Author: Kaustubh Bagalkote | August 15, 2024 01:19am

Famed investor Michael Burry, known for his prescient bet against the housing market before the 2008 financial crisis, has made significant changes to his hedge fund’s portfolio in the second quarter of 2024.

What Happened: Scion Asset Management, based in Saratoga and run by Burry, filed its latest 13F report with the U.S. Securities and Exchange Commission on Wednesday, revealing a notable shift in investment strategy.

Key Highlights:

1. Alibaba Group Holding Ltd (NYSE:BABA) Takes Top Spot: Chinese e-commerce giant Alibaba has become Scion’s largest holding, with a position valued at approximately $11.16 million, consisting of 155,000 shares.
2. Tech Focus: The portfolio shows a continued interest in Chinese tech companies, with significant positions in Baidu Inc (NASDAQ:BIDU) with 75,000 shares valued at $6.49 million, and JD.com Inc (NASDAQ:JD) with 250,000 shares valued at $6.46 million.
3. Healthcare and Fintech: Molina Healthcare Inc (NYSE:MOH) and Shift4 Payments Inc (NYSE:FOUR) represent substantial investments, valued at $7.29 million and $7.34 million respectively.
4. Real Estate Exposure: Hudson Pacific Properties Inc (NYSE:HPP) stands out as a significant real estate play, with over 1.1 million shares valued at $5.50 million.
5. Emerging Biotech: BioAtla Inc (NASDAQ:BCAB), a clinical-stage biopharmaceutical company, represents a smaller but noteworthy position in the portfolio.

Other notable holdings include The RealReal Inc (NASDAQ:REAL), Olaplex Holdings Inc (NASDAQ:OLPX), and American Coastal Insurance Corp (NASDAQ:ACIC).

See Also: Cathie Wood Seizing Low-Valuation Opportunity Among Magnificent 7? Ark Invest Snaps Up $2.4M In Alphabet Shares

Why It Matters: This latest filing offers insight into Burry’s current market outlook, suggesting a diverse approach with significant bets on Chinese technology firms, U.S. healthcare, fintech, and select real estate opportunities.

In May, Burry made headlines for his substantial investments in gold and renewable energy, while exiting positions in major tech companies like Amazon.com Inc (NASDAQ:AMZN) and Alphabet Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG). This pivot indicated a focus on physical commodities and sustainable energy sources.

In a related development, a recent poll highlighted how investors seek advice from top figures like Elon Musk, Warren Buffett, and Burry himself, underscoring his influence in the investment community.

Read Next:

• Warren Buffett Declares Shift: Selling Apple Stock To Invest In This ‘Magnificent’ Megacap – Here’s Why

Michael Burry illustration by Gonzalo Lanzilotta for

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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