Michael Burry Raises Alibaba Stake, Cuts Stock Portfolio in Half

Michael Burry, renowned for his 2008 bet against the US housing market, increased his stake in $Alibaba (BABA.US)$ in the second quarter while significantly reducing his overall equity portfolio. Scion Asset Management, Burry’s firm, reported an $11.2 million position in Alibaba, up from $9 million in the first quarter, adding 30,000 shares.

Additionally, Burry initiated a new position in Shift4 Payments Inc., which became the firm's second-largest holding with a $7.3 million value after acquiring 100,000 shares. This move follows Burry's strategy of doubling down on Chinese tech giants like JD and Alibaba earlier this year.