Great investors · Michael Burry · Q3 2025
What Michael Burry bought and sold in Q3 2025
Scion Asset Management 13F portfolio as of Sep 30, 2025: 4 positions worth $68.1M. Largest: MOH, LULU, SLM, Bruker. Filed with the SEC on Nov 3, 2025.
The 13F is filed by Scion Asset Management, not by Michael Burry personally: these are the whole firm's positions. A “position” is a distinct security in the filing (by CUSIP); share classes of the same company are shown added together.
Buys in Q3 2025
- NewMolina HealthcareMOH+35.1 pp
- NewSLMSLM+19.5 pp
- Increasedlululemon athleticaLULU+13.1 pp
Sells in Q3 2025
- Sold outEstée LauderEL−17.8 pp
- Sold outRegeneron PharmaceuticalsREGN−11.6 pp
- Sold outMercadoLibreMELI−11.5 pp
- Sold outUnitedHealth GroupUNH−9.2 pp
7 companies with material moves, out of 7 positions with a change. Only moves of 0.5 points of the portfolio or more are listed, measured as “traded weight” (what was bought or sold, excluding price effects). Smaller changes exist and are not listed: a position may have gone up or down without appearing above.
The full 13F, line by line
Scion Asset Management's Q3 2025 13F lists 4 lines of US-listed securities worth $68.1M; the largest is MOH at 35.1% of the portfolio. It was accepted by the SEC on Nov 3, 2025 at 11:33 AM ET.
Against the previous quarter, it opened 3 positions (MOH, SLM and Bruker), closed 5 (EL, BRKR, REGN and MELI and 1 more), added to 1 (LULU) and trimmed none.
| # | Company | Shares | Value | Weight | Change in shares |
|---|---|---|---|---|---|
| 1 | Molina Healthcare MOH | 125,000 | $23.9M | 35.1% | new |
| 2 | lululemon athletica LULU | 100,000 | $17.8M | 26.1% | +100% |
| 3 | SLM SLM | 480,054 | $13.3M | 19.5% | new |
| 4 | Bruker | 48,334 | $13.1M | 19.3% | new |
Positions it closed (5)
- Estée Lauder ELwas 21.5% · 150,000 shares
- Bruker BRKRwas 18.3% · 250,000 shares
- Regeneron Pharmaceuticals REGNwas 14.0% · 15,000 shares
- MercadoLibre MELIwas 13.9% · 3,000 shares
- UnitedHealth Group UNHwas 11.1% · 20,000 shares
One row per line of the filing (by CUSIP): share classes of the same company are listed separately here. “Change in shares” compares the count with the previous quarter, split-adjusted; the value is the one reported in the 13F at quarter end, not today's price.
Original documents: Scion Asset Management's 13F filings on EDGAR (SEC) ↗
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Source: 13F filings with the SEC. A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions. Not investment advice.