In a significant portfolio overhaul during Q1, Michael ‘Big Short’ Burry’s Scion Asset Management almost liquidated its entire listed equity holdings while simultaneously increasing bearish wagers on Nvidia and key Chinese technology stocks, according a report by Bloomberg.
The report cites newly released 13F filings as showing that Burry, famed for his prescient 2008 short on the US housing market, purchased put options on Nvidia – bets that profit from a decline in the chipmaker’s stock price. The filings suggest these puts may serve as hedges against unreported long positions outside the 13F’s disclosure requirements.
This strategic shift came amid a strong rally in Chinese tech stocks fuelled by DeepSeek’s advancements in AI, contrasting with growing market concerns triggered by DeepSeek’s cost-effective AI model and the escalating US-China trade tensions under former President Trump’s tariff policies.
Prior to this, Burry had begun reducing his exposure to Chinese tech giants JD.com and Alibaba in late 2024. The latest filings reveal he also bought puts on Alibaba, Baidu, JD.com, and PDD Holdings – stocks that were previously core positions for Scion.
Notably, Nvidia’s shares slipped slightly in after-hours trading, while Estee Lauder—Scion’s sole remaining equity holding—rose 3.6% after the fund reportedly doubled its stake.
Scion Asset Management has yet to comment on the developments.
