Alibaba, the "Big Short" increased its position to become the top heavy-weighted stock, and Canada's largest pension fund also entered the market.
Scion Asset Management, owned by Michael Burry, increased its holdings of Alibaba by 25,000 shares in the fourth quarter, bringing the total to 75,000 shares, with a market value of $5.81 million. It also increased its holdings of JD by 75,000 shares, bringing the total to 200,000 shares, with a market value of $5.78 million. Alibaba and JD were also newly acquired targets for Canada's largest pension fund, CPPIB, in the fourth quarter of last year.
The 13F report released on Wednesday showed that "The Big Short" Michael Burry's hedge fund, Scion Asset Management LLC, further increased its holdings in Alibaba and JD in the fourth quarter of last year.
In the fourth quarter, Scion Asset Management increased its holdings in Alibaba by 25,000 shares to 75,000 shares, with a market value of $5.81 million; and increased its holdings in JD by 75,000 shares to 200,000 shares, with a market value of $5.78 million. As of the end of the fourth quarter, Alibaba was the largest holding in Scion's disclosed portfolio, accounting for 6.1% of its assets, followed closely by JD.
Scion's top holdings also include HCA Healthcare, Oracle, and Citigroup. In the fourth quarter, Scion initiated long positions in Oracle, Citigroup, and Google's parent company Alphabet; and exited positions in Stellantis, among others; and reduced its holdings in Booking.
Coincidentally, another 13F filing disclosed on the same day showed that Alibaba became a new holding of the Canada Pension Plan Investment Board (CPPIB), the largest pension fund in Canada, in the fourth quarter of last year. CPPIB purchased Alibaba in the fourth quarter, with a holding of 3.6 million shares and a market value of $279 million as of December 31.
In the fourth quarter, CPPIB also purchased 1.7 million shares of Li Auto, with a market value of $63.6 million; 1.33 million shares of JD, with a market value of $38.3 million; and 291,000 shares of NetEase, with a market value of $27.1 million.
In the fourth quarter of last year, Alibaba's stock price fell by approximately 9.6%, while JD's cumulative decline was less than 1%. On Wednesday, Alibaba's stock price rose by 2.5%, and JD's rose by over 4.5%, both outperforming the broader U.S. market.