Michael Burry, best known for his work on the subprime mortgage crisis, rebalanced his portfolio last quarter, making Chinese internet stocks one of his top holdings, according to a new regulatory filing released Wednesday. Burry's hedge fund Scion Asset Management increased its bet on Alibaba in the second quarter, making it his largest holding worth more than $11 million. He also increased his bet on Chinese search engine Baidu, valuing it at about $6.5 million. Meanwhile, Chinese e-commerce platform JD.com remains a large, albeit smaller, stake in Burry. Burry rose to prominence by shorting mortgage-backed securities before the 2008 global financial crisis. Barry was portrayed in Michael Lewis' book “The Big Short” and the subsequent Oscar-winning film of the same name. The famous investor bought the Sprott Physical Gold Trust (PHYS) in the first quarter, making it his biggest bet, but exited it entirely at the end of June after owning more than $10 million in the Sprott Physical Gold Trust (PHYS) the position. In the second quarter, Burry made big bets on payment processing company Shift4 Payments, managed care company Molina Healthcare and real estate company Hudson Pacific Properties. He also added small stakes in luxury hair care brand Olaplex and biotech brand BioAtla. Fund managers with more than $100 million in assets must disclose their long positions to the SEC 45 days after the end of the quarter. Active traders like Barry may have changed their stance by the time the documents were released.
Privacy Overview
This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.