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One recent development in the investment world is the reshuffling of Michael Burry’s portfolio. Known for his prediction of the subprime mortgage crisis, Burry has made some interesting moves in his investments in Chinese internet stocks. According to a regulatory filing, Burry’s hedge fund, Scion Asset Management, increased its position in Alibaba, making it his largest holding at over $11 million. He also increased his bet on Baidu to a position worth around $6.5 million. JD.com, another Chinese ecommerce platform, remained a significant stake for Burry, though a bit smaller than before.
Burry gained fame by betting against mortgage-backed securities ahead of the 2008 financial crisis and was famously depicted in Michael Lewis’ book “The Big Short.” In the first quarter, he had a significant investment in a physical gold trust, but he completely exited that position by the end of June. In the second quarter, Burry made substantial bets on companies like Shift4 Payments, Molina Healthcare, and Hudson Pacific Properties. He also added smaller stakes in Olaplex and BioAtla.
It’s important to note that money managers with over $100 million in assets are required to disclose their long positions with the Securities and Exchange Commission 45 days after the end of a quarter. However, active traders like Burry may have already made changes to their positions by the time these filings are released.
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