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Michael Burry's Scion Asset Boosts Stake in Alibaba, JD, Baidu, Buys Put Options
"Smart money" is betting on china becoming a trend: In Q3, the prototype of the "big short" increased shareholding in Alibaba and other Chinese concepts, while the rising fund Keystone established positions in three major etfs.
In the third quarter, the fund under Michael Burry increased its shareholding in Alibaba by 0.045 million shares to nearly 0.2 million shares, doubled its hold positions in jd.com to 0.5 million shares, and increased its shareholding in baidu by 0.05 million shares to 0.125 million shares. At the end of the quarter, it held three Chinese concept stocks valued at 54 million dollars, accounting for 65% of the total fund's stock holdings. Meanwhile, the fund bought corresponding put options for these three Chinese concept stocks to hedge risks.
"Big Short" Michael Burry increases shareholding in alibaba and other Chinese stocks but allocates put options.
The fund manager Michael Burry, famous for the movie "The Big Short," continued to increase his shareholding in alibaba and baidu in the third quarter. He also added to his position in jd.com, where he had previously significantly reduced his holdings, but he allocated corresponding put options. An analysis of Burry's hedge fund Scion Asset Management LLC's form 13f submission found that the firm increased its holdings of jd.com ADR from 0.25 million to 0.5 million, while also holding corresponding put options for 0.5 million ADRs. Shareholding in alibaba rose from 0.045 million to 0.2 million, while also holding corresponding put options for 0.1689 million ADRs.
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