Scion Asset Management, the hedge fund firm led by Michael 'The Big Short' Burry, increased its investment in Chinese e-commerce and retail giant Alibaba during the second quarter of the year, according to the firm's latest 13F filings.

The filings reveal that Scion added 30,000 Alibaba ADRs last quarter, increasing the total value of its holdings from $9m at the end of Q1 to $11.2m.PARA_BREAK_SENTINEL_9f8e7d6cThe move came as the firm significantly reduced the size of its overall stock portfolio cutting the size of its investment position by around 50%.