Great investors · Michael Burry
Michael Burry portfolio · Q3 2025
Michael Burry, founder of Scion Asset Management. This is the stock portfolio Scion Asset Management reported to the SEC (Form 13F) as of Sep 30, 2025, filed on Nov 3, 2025.
The 13F is filed by the firm, not the person: when this page says what Michael Burry “owned” or “bought”, it means the positions of Scion Asset Management as a whole.
Scion Asset Management has not filed any 13F with holdings after Sep 30, 2025 (the latest was filed on Nov 3, 2025): this is its latest portfolio reported to the SEC. Its registration as an investment adviser with the SEC is shown as terminated since Nov 10, 2025 (record at adviserinfo.sec.gov). If it files again, this page updates automatically.
Not counted as a concentrated manager: its portfolio is not within 5 to 100 positions; it reports less than $250M; it turns over more than 50% of the portfolio per quarter; more than 20% is options. Its portfolio is shown all the same, but it is left out of manager counts, the consensus and the ranking. How this is decided
What stocks did Michael Burry own in the latest 13F?
The largest positions of Scion Asset Management in Q3 2025 were MOH, LULU, SLM, Bruker.
- 1Molina HealthcareMOHNew35.1%
- 2lululemon athleticaLULUIncreased26.1%
- 3SLMSLMNew19.5%
- 4BrukerClass change19.3%
What did Michael Burry buy in Q3 2025?
- NewMolina HealthcareMOH35.1% of portfolio
- NewSLMSLM19.5% of portfolio
- Increasedlululemon athleticaLULU+100% shares · 26.1% of portfolio
What did Michael Burry sell in Q3 2025?
- Sold outEstée LauderELwas 21.5%
- Sold outRegeneron PharmaceuticalsREGNwas 14.0%
- Sold outMercadoLibreMELIwas 13.9%
- Sold outUnitedHealth GroupUNHwas 11.1%
3 positions opened or added to and 4 trimmed or closed, against the previous quarter's 13F. Each is measured the same way across the page: how much the share count changed and its weight in that portfolio (share classes of the same company added together). The 13F has 7 positions with a change, 7 of them material (0.5 points of the portfolio or more). All full exits are listed, even those that moved less than 0.5 points of the portfolio.
Declared options (4)
Besides stocks, Scion Asset Management declared 2 puts (they gain if the stock falls) and 2 calls (they gain if it rises) with a notional of $1.3 bn. The 13F reports the value of the underlying shares, not the premium paid, so these figures look large and are not added to the portfolio. Nor does it say whether the option is bought or written, or its strike or expiry: it may be a hedge.
- PUTPalantir TechnologiesPLTRnew this quarter$912M
- PUTNVIDIANVDAnew this quarter$187M
- CALLPfizerPFEnew this quarter$153M
- CALLHalliburtonHALnew this quarter$61.5M
Source: SEC 13F filings show the portfolio at quarter end and are filed up to 45 days later: positions may have changed. They only cover U.S.-listed stocks and some others; no short positions or cash. Not investment advice.