Archive · no longer filing 13F portfolio / Archive · contrarian value
Scion Asset Management
Michael Burry (founder)
Scion Asset Management was founded by Michael Burry, the investor and physician whose bet against US housing before 2008 was chronicled in The Big Short. In November 2025 he announced he was shutting the firm down.
Its last 13F covers September 30, 2025. We keep this page as an archive of the final reported portfolios.
- Reported 13F value
- $68M
- Positions
- 4
- Est. 1-yearEstimate
- —SPY +15.7%
- Est. 3-year, annualizedEstimate
- —SPY +22.8%
As of Sep 30, 2025 · filed Nov 3, 2025
Holdings
3 new · 1 added · 0 trimmed · 0 unchanged · 5 sold out
| 1 | MOH on Yahoo Finance (opens in a new tab) | Molina Healthcare IncCOM | 35.1% | $24M | 125,000 | New | $184.06 | $207.21 | +12.6% |
| 2 | LULU on Yahoo Finance (opens in a new tab) | Lululemon Athletica IncCOM | 26.1% | $18M | 100,000 | Added +100.0% | $237.92 | $96.89 | -59.3% |
| 3 | SLM on Yahoo Finance (opens in a new tab) | SLM CorpCOM | 19.5% | $13M | 480,054 | New | $30.44 | $21.84 | -28.2% |
| 4 | — | Bruker Corp6.375 PREF SER A | 19.3% | $13M | 48,334 | New | — | — | — |
Sold out since Q2 2025
- EL on Yahoo Finance (opens in a new tab)Lauder Estee Cos Inc$12M at Q2 2025
- BRKR on Yahoo Finance (opens in a new tab)Bruker Corp$10M at Q2 2025
- REGN on Yahoo Finance (opens in a new tab)Regeneron Pharmaceuticals$8M at Q2 2025
- MELI on Yahoo Finance (opens in a new tab)Mercadolibre Inc$8M at Q2 2025
- UNH on Yahoo Finance (opens in a new tab)Unitedhealth Group Inc$6M at Q2 2025
Estimated, from reported holdings
Quarter by quarter
High-conviction buys (new positions at 3% or more of the portfolio) since Q3 2023: 35. Of 31 with six months of history, 35.5% beat the S&P 500 from the filing date.
Source: SEC Form 13F-HR 0001649339-25-000007, compared with the Q2 2025 report. 4 option rows are excluded from weights. Tickers map from CUSIP via OpenFIGI. Estimated returns weight each position’s next-quarter total return (Yahoo Finance adjusted closes) by its quarter-end value and assume no trades. Estimated cost averages daily adjusted closes in each quarter the share count rose, from Q3 2023 onward (* = held at the start of our data). Price is the latest close.
Important information
Form 13F data is delayed. Managers have up to 45 days after each calendar quarter to file, so holdings shown may have changed materially since the report date. 13F reports cover long positions in US-listed equities and certain other securities only; they exclude short positions, most non-US holdings, cash, bonds and private investments, and managers may request confidential treatment for some positions. Options rows are listed in filings but are not counted in the holdings and weights shown here.
Estimated holdings returns, estimated cost and high-conviction results are hypothetical calculations from quarter-end holdings and public prices, assuming no trades between reports. They are not the actual returns or costs of any fund or manager and do not reflect fees, trading, leverage, shorts or cash. Biographies are drawn from cited public sources. This page is for information only and is not individualized investment advice or a recommendation to buy or sell any security. Gulfstream Capital and its clients may hold positions in securities shown.