Key points

  • Michael Burry added to BYD in an October 6th, 2026, portfolio update on his Substack and continues to hold JD.com, Tencent, Meituan and Haidilao.
  • On October 11th, 2026, he said he had rolled most of his US options into puts on the Nasdaq-100 and the VanEck Semiconductor ETF, and sees a market top within nine months.
  • Form 4 filings show no open-market purchase by a JD.com (JD) insider in 2026, while Alibaba's co-founder and chief executive bought $25.7 million of stock in August.

Michael Burry is adding to Chinese shares and betting against the Nasdaq at the same time. In a portfolio update published on his Substack, Cassandra Unchained, on October 6th, 2026, the Scion Asset Management founder said he had added shares of BYD after a pullback, calling the automaker "potentially the lowest-cost producer of vehicles in the world thanks to its vertically integrated model at scale." He continues to hold JD.com (JD), Tencent, Meituan and Haidilao, and has described Hong Kong-listed shares as undervalued.

Alibaba (BABA) is the name he will not own. Burry sold his position in August and moved the money into JD.com before Alibaba's HK$80 billion share placement at HK$112.70, Fortune reported. "I cannot bless share issuances," he wrote on August 23rd, 2026, adding that the stock would have to "fall by half" for him to get interested again.

The short side

The other half of the trade is a bet against the US AI leaders. In a post titled "Consolidating the Big Short" on October 11th, 2026, Burry wrote that he had "rolled most of my options positions into two index short" positions: "puts on the NDX and puts on the Van Eck Semiconductor ETF (SMH)." The puts run to June 2027, and he noted that Nvidia is 19.6% of SMH, Taiwan Semiconductor 9.3% and AMD 5.6%. He also keeps puts on Oracle, Palantir, MetLife and Caterpillar, and said the final months of this bull market could be "wild."

Scion deregistered as an investment adviser in late 2025, so there is no 13F to check these positions against; they are self-disclosed.

The insider angle

Form 4 filings reviewed by InsiderBuying.com show the two US-listed names in Burry's China basket moving in opposite directions. JD.com has 17 filings in 2026 and not one open-market purchase: every row is an option exercise or a tax withholding, including chief executive Xu Ran's on July 2nd, 2026. At Alibaba, the stock Burry sold, co-founder Joseph Tsai bought 1,440,000 ordinary shares for $20,707,200 on August 24th and 25th, 2026, and chief executive Wu Yongming bought 350,000 for $4,984,000 on August 24th, 2026, at $14.24 to $14.47 per ordinary share. Four Alibaba officers then sold $13.6 million of stock on September 25th and 30th, 2026.

Market reaction

JD closed at $26.68 on October 14th, 2026, down 7.0% year to date and 19.5% lower over the past year; 20 analyst targets in our record average $37.50. BABA closed at $111.17, down 24.2% year to date, inside a 52-week range of $94.81 to $179.97. BYD's US-listed shares are valued at about $84 billion against roughly $1.45 trillion for Tesla, and Seeking Alpha reported the BYD purchase on October 12th, 2026.

What to watch

Burry's next Substack update, the June 2027 expiry of his puts, and whether Alibaba issues more stock for its AI build-out are the markers he has set. Insider Access members follow the Form 4 tape at JD.com and Alibaba as it is filed. Track real-time insider activity at JD.com (JD) and 9,000+ companies → insiderbuying.com/companies/JD

Informational only, not investment advice.