Michael Burry - Scion Asset Management Portfolio Q3'2025: Top Holdings & Recent Changes

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Michael Burry - Scion Asset Management has once again reshaped his equity book in dramatic fashion. His Q3’2025 portfolio shows a hyper-concentrated $1,381.2M allocation built around a dominant new position in Palantir Technologies Inc., complemented by outsized, active bets in NVIDIA Corporation, Pfizer Inc., and select energy, healthcare, and consumer names—while fully exiting V.F. Corporation.

Explore Michael Burry’s full Q3’2025 holdings on ValueSense and see how his latest 13F filing aligns with your own investment ideas.

Portfolio Overview: A Bold, Ultra-Concentrated Playbook

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%

The latest Scion Asset Management portfolio is a case study in extreme concentration and high turnover. With just 8 positions and the entire 100% of equity capital in the top 10 holdings, Burry is expressing a handful of very strong convictions rather than running a diversified basket of ideas. At the same time, a 250.0% turnover and a 1 quarter average holding period underline how aggressively he has repositioned since the prior filing.

At the center of this reshuffle is a massive new commitment to Palantir Technologies Inc., which alone represents 66.0% of the reported equity portfolio. Around this core, the Scion portfolio adds meaningful but much smaller allocations to NVIDIA Corporation at 13.5%, and a dramatically increased stake in Pfizer Inc. at 11.1%. The remaining capital is spread across energy services, managed care, consumer discretionary, and niche financial and life sciences names.

This structure suggests that Burry is comfortable with idiosyncratic risk and is seeking asymmetric payoffs from a limited set of ideas rather than market-like exposure. For investors following his 13F-reported portfolio, the current configuration is less about sector diversification and more about interpreting where he sees the most mispricing and optionality today.

Top Holdings Overview: From Palantir Dominance to Targeted Satellite Bets

The portfolio is anchored by a towering position in Palantir Technologies Inc. (PLTR), a Buy this quarter at 66.0% of assets, with 5,000,000 shares worth $912.1M. Burry’s decision to devote roughly two-thirds of his equity capital to a single data and analytics platform indicates a very high-conviction view on Palantir’s long-term cash generation and strategic positioning.

Just behind Palantir is NVIDIA Corporation (NVDA), which sits at 13.5% of the portfolio. Burry chose to Add 11.11% to this position, bringing it to 1,000,000 shares with a market value of $186.6M. This incremental increase suggests he remains constructive on NVIDIA’s AI and data-center leadership while fine-tuning the position size relative to his other big ideas.

On the healthcare front, Pfizer Inc. (PFE) is one of the most striking moves of the quarter. Scion Added 610.65% to Pfizer, now holding 6,000,000 shares valued at $152.9M, equal to 11.1% of the portfolio. Such a dramatic increase signals either a strong valuation-driven thesis, a contrarian stance on sentiment, or both.

In energy services, Burry initiated a Buy in Halliburton Company (HAL), taking 2,500,000 shares worth $61.5M and accounting for 4.5% of the portfolio. This adds a cyclical, commodity-linked component to Scion’s Q3’2025 construction while still keeping exposure modest relative to the Palantir core.

Within managed care, Molina Healthcare, Inc. (MOH) saw a significant scale-up: Burry Added 400.00%, now holding 125,000 shares valued at $23.9M (1.7% of the portfolio). This suggests conviction in Molina’s positioning within government-focused health plans and its ability to compound earnings over time.

Consumer discretionary shows up via Lululemon Athletica Inc. (LULU), where Scion Added 100.00% to reach 100,000 shares, totaling $17.8M and 1.3% of the portfolio. Doubling the stake hints at renewed confidence in the brand’s growth trajectory and margin structure amid a challenging retail environment.

Burry also stepped into niche financial and life sciences exposures. He executed a Buy in SLM CORP at 480,054 shares, a position worth $13.3M and representing 1.0% of assets, and a Buy in BRUKER CORP (a life science tools and instrumentation company) with 48,334 shares valued at $13.1M, likewise 1.0% of the portfolio. While both are small in weight, they expand the opportunity set beyond the dominant tech and pharma names.

Finally, on the downside of conviction, Scion chose to Sell 100% of V.F. Corporation (VFC), reducing the position to 0 shares and 0.0% of the portfolio with reported value of $0.0. This full exit frees capital for higher-conviction ideas and underscores Burry’s willingness to reverse course when the thesis or opportunity set changes.

Across these 8 positions, Burry’s Q3’2025 construction blends one massive software and data bet with sizable AI and pharma positions, plus smaller, more diversified exposures in energy services, managed care, consumer discretionary, student lending, and life sciences tools.

What the Portfolio Reveals About Burry’s Current Strategy

Several themes stand out from the Q3’2025 Scion configuration:

• Extreme conviction in data and AI infrastructure
  Concentrating 66.0% of capital in PLTR and another 13.5% in NVDA shows a clear tilt toward companies tied to data analytics, AI workloads, and digital infrastructure. The combination suggests Burry sees durable demand for computational power and mission-critical software.
• Contrarian and valuation-driven healthcare exposure
  A 610.65% addition in PFE and a 400.00% increase in MOH highlight his interest in healthcare names that may be trading below intrinsic value relative to long-term cash flows, despite near-term headwinds or sentiment overhangs.
• Selective cyclicals and consumer bets
  The Buy in HAL adds exposure to energy and capital spending cycles, while doubling down on LULU reflects confidence in a premium consumer brand with secular growth potential.
• High turnover, but not random trading
  Even with 250.0% turnover and a short 1 quarter average holding period, the moves appear deliberate: scaling dramatically into select names (PLTR, PFE, MOH) while pruning or exiting others (VFC). The Scion portfolio remains thematic rather than purely reactive.
• Risk management via position sizing at the tail
  While the top three names dominate, the smaller positions in SLM CORP and BRUKER CORP at 1.0% each provide optionality and diversification without materially changing the overall risk profile. These could be early-stage ideas or opportunistic trades sized accordingly.

For investors studying Burry’s 13F moves, the overall picture is of an investor willing to bet big when conviction is highest, while still sprinkling in smaller, more exploratory positions around the edges.

Portfolio Concentration Analysis

The table underscores just how top-heavy the Q3’2025 Scion book is. Palantir, NVIDIA, and Pfizer together account for 90.6% of reported equity assets, leaving less than 10% for the remaining five names. This is far from the typical institutional portfolio that often caps single-name exposure at 5–10%; instead, Burry’s approach here resembles a concentrated hedge fund or family-office style allocation.

Below the top three, the drop-off is steep: Halliburton at 4.5% is the only other position above 2%, with the rest clustered between 1.0%–1.7%. For followers of the Scion 13F portfolio, this means that performance and risk will be overwhelmingly driven by the trajectory of PLTR, NVDA, and PFE, while the smaller holdings have more limited impact unless their sizes change significantly in future filings.

Investment Lessons from Michael Burry’s Q3 2025 Playbook

• Concentrate where conviction is highest
  Burry’s 66% allocation to PLTR and double-digit stakes in NVDA and PFE demonstrate that, in his framework, true edge justifies outsized position sizes—while accepting higher volatility.
• Use position sizing to express thesis strength
  Large increases such as Add 610.65% in Pfizer and Add 400.00% in Molina, versus small 1.0% positions in SLM CORP and BRUKER CORP, show how sizing can convey thesis confidence and time horizon.
• Be willing to change your mind quickly
  A 250.0% turnover rate and the Sell 100% exit from VFC illustrate the importance of intellectual flexibility. When facts or opportunity sets change, Burry is prepared to reallocate decisively.
• Blend secular growth with contrarian value
  Pairing high-growth, AI-aligned names like PLTR and NVDA with more traditional value and cash-flow plays like PFE, MOH, and HAL offers a balanced way to seek upside from different market drivers.
• Accept idiosyncratic risk when edge is strong
  The current Scion portfolio is not designed to track an index; it is designed to exploit perceived mispricings in a small set of securities. For individual investors, this highlights the trade-off between potential outperformance and the psychological/financial stress of concentrated bets.

Looking Ahead: What Comes Next for Scion’s Portfolio?

While future trades will only be visible in upcoming 13F filings, the Q3’2025 snapshot offers several clues:

• Room to adjust around the Palantir core
  With PLTR at 66.0%, any adjustment—up or down—will have a major impact. If the thesis plays out, Burry may hold or even trim to lock in gains; if not, rebalancing into the secondary ideas (NVDA, PFE, MOH) is a possibility.
• Potential scaling of smaller positions
  The 1.0–1.7% allocations to SLM CORP, BRUKER CORP, and MOH could be early-stage ideas. Future filings may reveal whether these graduate into larger core holdings or are exited like VFC.
• Opportunistic responses to macro volatility
  Exposure to energy services via HAL and to healthcare via PFE and MOH positions Scion to react to shifts in commodity cycles, rates, and policy. High turnover suggests Burry will not hesitate to reposition based on changing macro or company-specific data.
• New ideas and sector rotations
  With only 8 positions and a history of rapid change, the next 13F may introduce entirely new names or sectors. Following the Scion page on ValueSense is the most efficient way to monitor these developments.

FAQ about Michael Burry – Scion Asset Management Portfolio

Q: What were the biggest changes in Michael Burry’s Q3’2025 portfolio?

The most significant moves were a Buy of Palantir (PLTR) to 66.0% of the portfolio, an Add 610.65% increase in Pfizer (PFE) to 11.1%, an Add 11.11% in NVIDIA (NVDA) to 13.5%, substantial additions to Molina Healthcare (MOH) and Lululemon (LULU), plus a full Sell 100% exit from V.F. Corporation (VFC).

Q: How concentrated is Michael Burry’s portfolio right now?

Extremely concentrated: the top 10 holdings represent 100.0% of reported equity assets, with just 8 positions overall. Palantir alone is 66.0%, and the top three holdings make up 90.6% of the entire portfolio.

Q: What does the high turnover and short holding period mean for investors following Burry?

A 250.0% turnover and 1 quarter average holding period indicate that Scion trades actively around theses. Because 13F filings are reported with up to a 45-day lag after quarter-end, investors should treat the reported positions as a historical snapshot, not real-time trades, and use them as idea sources rather than signals to copy immediately.

Q: Which sectors or themes does Burry seem to favor in Q3’2025?

Key themes include data and AI infrastructure (PLTR, NVDA), healthcare and pharmaceuticals (PFE, MOH), energy services (HAL), premium consumer brands (LULU), and smaller positions in financial/life sciences names (SLM CORP, BRUKER CORP).

Q: How can I track or follow Michael Burry’s latest positions?

You can follow Michael Burry’s holdings through quarterly 13F filings and via the dedicated Scion tracker on ValueSense. Visit Michael Burry – Scion Asset Management’s portfolio to see updated holdings, historical changes, and visualizations. Remember that 13F data is reported with a 45-day lag, so positions may have changed since the filing date.

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