Michael Burry - Scion Asset Management Portfolio in 2026: Top Holdings & Recent Changes
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Michael Burry, the legendary investor behind Scion Asset Management and famously portrayed in The Big Short, has once again captured Wall Street's attention with his latest 13F filing. His Q3 2025 portfolio totaling $1,381.2M showcases extreme concentration and high turnover, with a massive new bet on PLTR at 66% of the portfolio signaling his conviction in AI-driven opportunities amid market volatility.
Portfolio Overview: Extreme Concentration with Sky-High Turnover
Portfolio Highlights (Q3’2025): - Market Value: $1,381.2M - Top 10 Holdings: 100.0% - Portfolio Size: 8 -8 - Average Holding Period: 1 quarter - Turnover: 250.0%
Michael Burry's Scion Asset Management portfolio exemplifies his signature high-conviction style, now pushed to extremes with 100% of assets concentrated in just 8 positions—and the top holding alone commanding two-thirds of the fund. The portfolio size shrank dramatically by 8 positions from the prior quarter, paired with an astonishing 250% turnover rate, indicating Burry completely overhauled his exposures in pursuit of what he sees as asymmetric opportunities. This isn't passive indexing; it's a deliberate reset reflecting his contrarian mindset.
The average holding period of just 1 quarter underscores Burry's tactical agility, a far cry from long-term buy-and-hold strategies. With top 10 holdings (effectively the entire portfolio) at 100%, risk is amplified but so is potential reward—classic Burry, betting big when his analysis uncovers mispricings others miss. Track these shifts in real-time via ValueSense's superinvestor tools at Scion's dedicated page.
This setup reveals a portfolio primed for volatility, blending high-growth tech with undervalued cyclicals and healthcare plays, all while maintaining ultra-tight position limits to maximize impact from his best ideas.
Top Holdings: AI Dominance Meets Opportunistic Bets
Burry's portfolio pivots heavily to technology with Palantir Technologies Inc. (PLTR) as the overwhelming anchor at 66.0%, a brand-new "Buy" position of 5,000,000 shares valued at $912.1M—signaling massive conviction in its AI and data analytics platform amid enterprise adoption surges. Doubling down on semiconductors, he added 11.11% to NVIDIA Corporation (NVDA) (13.5%, $186.6M with 1,000,000 shares), reinforcing exposure to AI infrastructure leaders.
Healthcare and value plays round out the conviction names, with a staggering "Add 610.65%" to Pfizer Inc. (PFE) at 11.1% ($152.9M, 6,000,000 shares), likely targeting post-pandemic recovery and pipeline value. New energy services exposure comes via "Buy" in Halliburton Company (HAL) (4.5%, $61.5M, 2,500,000 shares), betting on oilfield recovery. Burry boosted Molina Healthcare, Inc. (MOH) by 400.00% to 1.7% ($23.9M, 125,000 shares), eyeing managed care undervaluation.
Retail and financials get tactical adds: "Add 100.00%" to Lululemon Athletica Inc. (LULU) (1.3%, $17.8M, 100,000 shares) for athleisure rebound potential, a fresh "Buy" in SLM Corporation (SLM) (1.0%, $13.3M, 480,054 shares) for student lending upside, and another new "Buy" in BRUKER CORP (1.0%, $13.1M, 48,334 shares) tapping scientific instruments demand. Notably, he fully exited V.F. Corporation (VFC) with a "Sell 100%" (0.0%, $0.0), pruning apparel weakness to fund these higher-conviction shifts.
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What the Portfolio Reveals
Burry's Q3 moves paint a picture of aggressive positioning for AI secular growth blended with contrarian value hunts in beaten-down sectors:
- Tech/AI overweight: Over 80% in PLTR and NVDA screams belief in artificial intelligence as the next transformative wave, echoing his history of spotting macro inflection points.
- Healthcare value focus: Massive PFE and MOH adds target undervalued fundamentals amid regulatory noise and post-COVID repricing.
- Cyclical opportunism: HAL's entry bets on energy services rebound, while LULU and SLM chase consumer/financial recovery.
- Risk via concentration: 100% top-10 exposure means massive drawdown potential but outsized wins if theses play out.
- High turnover discipline: 250% churn shows willingness to cut losers (VFC) and pile into perceived edges quickly.
Geographically U.S.-centric, with no overt dividend chase but clear emphasis on asymmetric risk/reward.
Portfolio Concentration Analysis
| Position | Value | % of Portfolio | Recent Change |
|---|---|---|---|
| Palantir Technologies Inc. | $912.1M | 66.0% | Buy |
| NVIDIA Corporation | $186.6M | 13.5% | Add 11.11% |
| Pfizer Inc. | $152.9M | 11.1% | Add 610.65% |
| Halliburton Company | $61.5M | 4.5% | Buy |
| Molina Healthcare, Inc. | $23.9M | 1.7% | Add 400.00% |
| Lululemon Athletica Inc. | $17.8M | 1.3% | Add 100.00% |
| SLM Corporation | $13.3M | 1.0% | Buy |
| BRUKER CORP | $13.1M | 1.0% | Buy |
| V.F. Corporation | $0.0 | 0.0% | Sell 100% |
This table underscores Burry's extreme conviction, with PLTR alone representing 66%—a bet that could define the portfolio's performance. The top three holdings control nearly 91%, leaving little room for diversification but amplifying returns from core theses. Recent changes reveal dynamic management: massive adds to PFE and MOH show value hunting, while the full VFC exit demonstrates ruthless pruning. At 250% turnover and 1-quarter average hold, this isn't a passive stake; it's active conviction trading.
Investment Lessons from Michael Burry's Scion Strategy
Burry's Q3 portfolio distills timeless principles from the contrarian mastermind:
- Bet big on high-conviction edges: 66% in PLTR shows when analysis screams "asymmetric," size positions accordingly—dilution kills returns.
- Embrace turnover for agility: 250% churn proves holding forever isn't mandatory; cut losers fast (VFC Sell 100%) to fund winners.
- Hunt value in volatility: Explosive adds to PFE 610% and MOH 400% target mispriced fundamentals amid market noise.
- AI and cyclicals as macro plays: NVDA/PLTR overweight plus HAL buy blend growth and recovery themes Burry sees unfolding.
- Concentration demands discipline: With 100% in 8 names, every move (like 11% NVDA add) carries portfolio-defining weight—know your edge cold.
Looking Ahead: What Comes Next?
Burry's fully invested stance (100% top-10) leaves minimal cash for opportunistic strikes, but his 250% turnover history suggests readiness to pivot on new data. AI leaders like PLTR and NVDA position Scion for continued tech rally, while PFE/MOH hedge via healthcare stability and HAL taps energy upside amid geopolitical tensions. Watch for Q4 filings on further PLTR doubling or exits if valuations stretch—Burry thrives in uncertainty, and with average holds at 1 quarter, expect more bold swings. Current setup favors AI tailwinds but risks sharp pullbacks in concentrated tech.
FAQ about Michael Burry Portfolio
Q: What are the biggest changes in Michael Burry's Q3 2025 13F filing?
A: Burry overhauled with a massive new 66% PLTR buy, explosive PFE add 610.65%, and full VFC sellout, shrinking to 8 positions with 250% turnover—classic aggressive repositioning.
Q: Why is Burry's portfolio so concentrated at 100% top-10 holdings?
A: Burry prioritizes high-conviction bets over diversification, as seen in PLTR's dominance; this amplifies returns from his best ideas but heightens volatility, suiting his contrarian style.
Q: What sectors does Burry favor in Q3 2025?
A: Heavy AI/tech (PLTR 66%, NVDA 13.5%), healthcare value (PFE 11.1%, MOH 1.7%), energy (HAL 4.5%), and select consumer/financials (LULU, SLM)—blending growth and recovery plays.
Q: How can I track Michael Burry's Scion portfolio like a pro?
A: Use ValueSense's superinvestor tracker at https://valuesense.io/superinvestors/scion for real-time 13F updates (note 45-day lag), intrinsic values, and alerts—perfect for following Burry's moves without manual SEC digging.
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