Both Michael Burry, the famed investor behind "The Big Short," and Estee Lauder Companies, Inc. EL have strategically reduced their exposure to China – and Burry doubled his bet on the global beauty giant. Burry Shorts China, Buys EL According to its most recent SEC filing, Burry's hedge fund Scion Asset Management doubled its stake in Estee Lauder in the first quarter of 2025. The firm purchased an additional 100,000 shares in the world’s second-largest cosmetics company, bringing its total holdings to 200 ...