Michael Burry, who once made Wall Street tremble, what has he sniffed out this time? His investment company Scion reported that it has increased its shareholding in Alibaba by 0.03 million shares in the second quarter, with its holding value increasing from 9 million US dollars in the first quarter to 11.2 million US dollars. Scion also increased its shareholding in Baidu by more than 0.03 million shares in the second quarter, with a shareholding value of 6.5 million US dollars at the end of June. The company reduced its holdings in US stocks dramatically in the second quarter after clearing out popular US stocks in the first quarter.
Michael Burry, the "Big Short" who made money during the subprime crisis, had a big move in the second quarter of this year, further increasing his holdings in Alibaba. As of June 30th, Alibaba has surpassed [some company] to become his largest holding. At the same time, he slashed his entire stock portfolio by half while adding to Chinese internet giants. According to Scion Company's latest 13F filing with the SEC on Wednesday, Burry's investment company Scion Asset Management reported that it had increased its holdings of Alibaba stock by 0.03 million shares in the second quarter, with a position value of $11.16 million, up from $9 million in the first quarter, making it his largest holding. $Alibaba (BABA.US)$Asia Vets and New Energy Fund.$Baidu (BIDU.US)$ Shift4 Payments, a payment technology provider, is Scion's second-largest holding, with a total net holding value of about $7.3 million. In the second quarter, Scion established a new position in Shift4 and purchased 0.1 million shares that quarter. $JD.com (JD.US)$ In the second quarter, Scion also established new positions in multiple industries, including financial services, medical care, and commercial real estate. In addition to Shift4 Payments mentioned above, Scion also established new holdings in medical care company Molina Healthcare and real estate investment trusts company Hudson Pacific Properties, with each stock holding value exceeding $5.5 million.
Burry became famous during the 2007 subprime crisis, and his reputation in the international capital circle soared by shorting stocks. His story was adapted into the movie "The Big Short".
Scion increased its holdings in beauty company Olaplex and biotechnology company BioAtla during the reporting period.
In Q2, Scion also increased its stake in Baidu by more than 0.03 million shares, worth $2 million. As of June 30, it held 0.075 million shares of Baidu, valued at $6.5 million.
Last quarter, Scion reduced its holdings in JD.com. In Q2, the reduction was 0.11 million shares, worth slightly over $3 million, but JD.com remains one of Scion's largest holdings in its portfolio.
In Q1, Scion massively increased its investment in Chinese internet giants, including increased holdings in JD.com and Alibaba, as well as opening a position in Baidu. As of the end of Q1 this year, JD.com and Alibaba were its largest holdings, with a 80% and 66.67% increase in holdings respectively.
In fact, Alibaba and JD.com have been in Scion's portfolio since Q4 2022, but the decisive buying occurred in Q1 this year.
In the second quarter, Scion reduced its stake in luxury goods reseller TheRealReal. $Shift4 Payments (FOUR.US)$ Scion established a new position in Shift4 and purchased 0.1 million shares that quarter.
In the second quarter, Scion also established new positions in multiple industries, including financial services, medical care, and commercial real estate. $Molina Healthcare (MOH.US)$ Hudson Pacific Properties. $Hudson Pacific Properties Inc (HPP.US)$ Their individual shareholding value both exceed $5.5 million.
Beauty company Olaplex. $Olaplex (OLPX.US)$ BioAtla. $BioAtla (BCAB.US)$ During the reporting period, Scion increased its holdings in biotechnology company BioAtla.
TheRealReal. $TheRealReal (REAL.US)$ Luxury goods.
Scion has exited hold positions in multiple symbols this season, including, payment service provider, SQ.US, medical care company, the cigna group, and autos parts retailer, Advance Auto Parts(AAP.US). As of the end of Q2, Scion holds a total of 10 stocks with a total value of over 52 million USD, a shocking decrease of nearly 50% from the previous quarter. $HCA Healthcare (HCA.US)$Please use your Futubull account to access the feature.$Citigroup (C.US)$ Payment service provider. $Block (SQ.US)$ medical care company $The Cigna Group (CI.US)$ autos parts retailer $Advance Auto Parts (AAP.US)$.
As of the end of Q2, Scion holds a total of 10 stocks with a total value of over 52 million USD, a shocking decrease of nearly 50% from the previous quarter.
Michael Burry's name has made Wall Street tremble, attracting market attention with his long and short operations. While increasing his Chinese stock positions, Burry reduced his positions in other US stocks, which is not the first time this year. Form 13f as of the end of Q1 showed that, while adding Chinese stock positions, Burry cleared out Google and holding positions of two other companies in the "seven sisters of the US stock market".$Amazon (AMZN.US)$holding positions of two other companies.
"The big short"'s bearish sentiment on the US market has been "intensifying" since 2019, constantly warning of the high risks of US stocks through social media. He posted in 2022, "That familiar stupidity hasn't disappeared yet."
This year, the "big short"'s operations have been quite targeted. What has he sniffed out this time?
Editor/Somer