Michael Burry Sells All But One Asset

Michael Burry’s Scion Asset Management Takes Bearish Stance

• Scion Asset Management initiated a major portfolio shakeup.
• The firm opened a large position in put options against Nvidia (NVDA).
• Scion reversed its bullish outlook on Chinese equities, acquiring put options on Alibaba (BABA) and Baidu (BIDU).
• The only remaining long position is in Estee Lauder (EL).
• This marks the second recent overhaul of Scion’s portfolio by Burry.

Michael Burry’s Scion Asset Management has taken a significant bearish stance with new put options against Nvidia and major Chinese companies, while maintaining a single long position in Estee Lauder.