Michael Burry’s Scion fund exits BioAtla, boosts Alibaba stake, adds puts: top Q3 trades

Michael Burry’s hedge fund, Scion Asset Management, exited its stakes in BioAtla (NASDAQ:BCAB) and Hudson Pacific Properties (NYSE:HPP), and increased his holdings in Alibaba Group (NYSE:BABA), Baidu (NASDAQ:BIDU), and JD.com (NASDAQ:JD) during Q3 2024, according to its most recent 13F filing.

Burry, of “The Big Short” fame, increased stakes in Alibaba (NYSE:BABA) to 200,000 ADSs from 155,000 in the prior quarter, but added puts for 168,900 ADSs. Its stake in Baidu (NASDAQ:BIDU) increased to 125,000 ADRs from 75,000 and added 83,800 puts. For JD.com (NASDAQ:JD), Scion increased its stake to 500,000 ADSs from 250,000 and holds puts for 500,000 shares.

The company reduced its stakes in American Coastal Insurance (NASDAQ:ACIC) to 100,000 shares from 251,892 and The RealReal (NASDAQ:REAL) to 500,000 shares from 1M shares.