'Big Short' Michael Burry is long on China's Alibaba and — these stocks are now a fifth of his portfolio

Dr. Michael Burry
"Big Short" investor Michael Burry is invested in China's big tech companies Alibaba and Stawiarz/Getty Images
  • "Big Short" investor Michael Burry has been accumulating Alibaba and shares.

  • The two China tech shares now make up about 20% of his Scion Asset Management portfolio.

  • Scion held $10.2 million worth of Alibaba shares and $11 million worth of shares as of March 31.

"Big Short" investor Michael Burry is long on China's Alibaba and

The two online retail giants are now the top two stock holdings under Burry's Scion Asset Management.

They collectively made up 20% of the hedge fund's $107 million allocation as of March 31, according to Scion's Form 13F regulatory filing that was made public on Monday.

Scion Asset Management held 100,000 Alibaba shares worth $10.2 million and 250,000 shares worth nearly $11 million as of March 31.

The hedge fund's holdings in both Chinese tech companies increased from December 31, when it held 50,000 Alibaba shares and 75,000 shares, according to the regulatory filing.

Burry's bet on Alibaba and stands in contrast to those of other hedge funds that collectively sold 4 million shares in the first quarter of 2023, Bloomberg reported, citing multiple 13F filings.

But Burry is known for being a contrarian as much as he is known for his dire market warnings. In January, he spooked the market by simply tweeting the word "Sell." At the time, it was read as a signal to investors that they shouldn't be fooled by a rebound in stocks and should not buy into the market gains.

Burry walked that statement back in March, tweeting that he "was wrong to say sell." Both tweets have since been deleted.

Monday's 13F disclosure also revealed Burry snapped up shares of smaller banks including First Republic and Pacific Western in the first quarter of 2023 amid the banking crisis.

The investor first came into the limelight after he correctly predicted and profited from the US housing market crash of 2008. His massive bet against the housing bubble at the time was featured in the book and movie "The Big Short."

Alibaba shares closed 3.5% higher at $88.34 apiece on the New York Stock Exchange on Monday, while Nasdaq-listed ended almost 7% higher at $37.67 apiece. Both stocks were flat in after-hours trade.

Scion Asset Management did not immediately respond to Insider's request for comment sent outside regular business hours.

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