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Michael Burry, the "Big Short" who made money during the subprime mortgage crisis, made a big move in the second quarter of this year, further increasing his holdings of Alibaba and Baidu stocks during the quarter. As of June 30, Alibaba surpassed JD.com to become his largest holding. While increasing his stake in Chinese Internet giants, the "Big Short" slashed his overall stock portfolio to just half.

Burry became famous during the subprime mortgage crisis in 2007. He rose to fame in the international capital circle by short selling, and his story was even adapted into the movie "The Big Short".

According to Scion's latest 13F filing with the U.S. SEC on Wednesday, Burry's investment firm Scion Asset Management reported that the company increased its holdings of Alibaba by 30,000 shares in the second quarter.The value of the holding increased from $9 million in the first quarter to $11.2 million, making it its largest holding.

Scion also increased its holdings of Baidu shares by more than 30,000 shares in the second quarter, worth $2 million. The filing shows that as of June 30, it held 75,000 shares of Baidu.Valued at $6.5 million.

Last quarter, Scion reduced its stake in JD.com.The second quarter saw a reduction of 110,000 shares, valued at just over $3 million, but JD.com remains one of the top stocks in Scion's portfolio.

In the first quarter of this year, Scion invested heavily in Chinese Internet giants, including increasing its holdings in JD.com and Alibaba, and building a position in Baidu. By the end of the first quarter of this year, JD.com and Alibaba became its first and second largest holdings, with a month-on-month increase of 80% and 66.67%.

In fact, Alibaba and JD.com have been included in Scion's holdings since the fourth quarter of 2022, but the decisive purchase occurred in the first quarter of this year.

Payment technology provider Shift4 Payments is Scion's second largest holding, with a total net value of approximately $7.3 million. During the second quarter, Scion established a new position in Shift4, purchasing 100,000 shares during the quarter.

In the second quarter, Scion established new positions in a variety of industries including financial services, healthcare and commercial real estate. In addition to the above-mentioned Shift4 Payments, Molina Healthcare and real estate investment trust company Hudson Pacific Properties were also new positions, with a single stock holding value of more than $5.5 million.

Scion also increased its stakes in beauty company Olaplex and biotech company BioAtla during the reporting period.

In the second quarter, Scion reduced its stake in luxury goods reseller The RealReal.

Scion exited several holdings during the quarter, including HCA Healthcare, Citigroup, payment services provider Block, health care company Cigna and auto parts retailer Advance Auto Parts.

As of the second quarter, Scion held a total of 10 stocks with a total value of more than $52 million, a staggering decrease of nearly 50% from the previous quarter.

Michael Burry's name once frightened Wall Street. His operation of going long and short at the same time really attracted the attention of the market. It was not the first time this year that he reduced his positions in other positions while increasing his holdings of Chinese concept stocks. The 13F as of the end of the first quarter of this year showed that while going long on Chinese concept stocks, Burry liquidated two companies, Google and Amazon, among the "Seven Most Powerful Sisters of US Stocks".

The bearish sentiment of the "Big Short" on the US market has been "intensifying" since 2019, and he has been constantly reminding people of the high risks of US stocks through social platforms. He even posted in 2022: "That familiar stupidity has not disappeared."

The operations of the "Big Short" this year have been quite directional. What did he smell this time?