Scion Asset Management
Michael Burry · CIK 0001649339 · latest 13F for 2025-09-30 filed 2025-11-03
Estimated from 13F holdings — long US equities only; follow-the-filing returns are net of an assumed 10 bps per unit of turnover.
About the fund
Scion Asset Management is an investment firm founded by Michael Burry, known for his role in the 2008 subprime mortgage crisis. The firm focuses on fundamental, value-oriented research to identify global investment opportunities across various asset classes. As of late 2025, the firm transitioned away from managing outside capital and deregistered as an RIA.
Strategy
Value-oriented, fundamental, and macro-based investing
Investment approach
The firm pursues long-term capital appreciation primarily through fundamental research to identify undervalued or misunderstood investment situations globally. This approach incorporates technical, macroeconomic, and tactical analysis. The firm has the flexibility to take long or short positions and invest in a wide variety of instruments, including equities, debt, and derivatives.
History
Michael Burry originally founded Scion Capital in 2000, which gained fame for its successful bets against the subprime mortgage market before closing in 2008. In 2013, Burry reopened the firm as Scion Asset Management to manage personal investments. In November 2025, it was reported that the firm was deregistered as an RIA and would no longer run a fund for outside investors.
Notable positions & campaigns
- GameStop2019 — Acquired a major stake and urged the company to buy back shares, setting the stage for the short squeeze.
- Tesla2021 — Acquired put options on Tesla shares.
- S&P 500 and Nasdaq-100 ETFs2023 — Acquired put options to bet against ETFs tracking the S&P 500 and Nasdaq-100.
Profile generated 2026-10-09 from public sources; may be incomplete or out of date.
- Founded by
- Michael J. Burry
- Founded
- 2013
- HQ
- Saratoga, United States
- Reported AUM
- $155m (as of March 2025)
- Website
- scionasset.com
Management
- Michael J. BurryChief Executive Officer
Holdings heatmap
Latest 13F (2025-09-30): top 4 positions grouped by sector, sized by weight, coloured by the change in weight since the previous 13F.
Holdings map
Each tile is a position, sized by reported value and coloured by the stock's own price return (red down, green up) — the LiquidRound / finviz-style map.
Copy portfolio vs SPY
Growth of $1 following each filing the trading day after it was filed.
Top holdings
Latest 13F (2025-09-30).
| # | Ticker | Value | Weight |
|---|---|---|---|
| 1 | MOH | $24M | 35.1% |
| 2 | LULU | $18M | 26.1% |
| 3 | SLM | $13M | 19.5% |
| 4 | — | $13M | 19.3% |
Sector mix
Top-25 holdings by weight.
Changes this quarter
| Move | Ticker | Prev wt | Now wt |
|---|---|---|---|
| new | MOH | 0.0% | 35.1% |
| exited | EL | 21.5% | 0.0% |
| new | SLM | 0.0% | 19.5% |
| new | — | 0.0% | 19.3% |
| exited | BRKR | 18.3% | 0.0% |
| exited | REGN | 14.0% | 0.0% |
| exited | MELI | 13.9% | 0.0% |
| exited | UNH | 11.1% | 0.0% |
| added | LULU | 21.1% | 26.1% |
Quarterly copy returns
Each 13F held from the day after filing until the next filing.
| 13F period | Copy | SPY | Alpha | Coverage |
|---|---|---|---|---|
| 2025-09-30 | -3.7% | +1.4% | -5.1% | 81% |
| 2025-06-30 | +1.4% | +5.2% | -3.9% | 89% |
| 2025-03-31 | +40.3% | +8.6% | +31.7% | 100% |
| 2024-12-31 | -6.8% | -2.5% | -4.2% | 100% |
| 2024-09-30 | +22.0% | +4.7% | +17.3% | 97% |
| 2024-06-30 | +7.5% | +6.2% | +1.3% | 95% |
| 2024-03-31 | -7.1% | +4.9% | -12.1% | 79% |
| 2023-12-31 | +12.8% | +5.6% | +7.1% | 81% |
| 2023-09-30 | +4.8% | +12.1% | -7.3% | 60% |
| 2023-06-30 | +0.0% | +1.9% | -1.8% | 66% |
| 2023-03-31 | +13.9% | +8.4% | +5.6% | 72% |
| 2022-12-31 | -16.8% | -0.5% | -16.3% | 66% |
| 2022-09-30 | +3.0% | +4.4% | -1.4% | 61% |
| 2022-06-30 | +16.9% | -6.9% | +23.7% | 100% |
| 2022-03-31 | +2.1% | +5.7% | -3.6% | 83% |
| 2021-12-31 | +6.6% | -8.2% | +14.8% | 87% |
Filing dates
- 2025-11-0313F-HR for 2025-09-30 · $1.4B · 8 rows
- 2025-08-1413F-HR for 2025-06-30 · $578M · 15 rows
- 2025-05-1513F-HR for 2025-03-31 · $199M · 7 rows
- 2025-02-1413F-HR for 2024-12-31 · $77M · 13 rows
- 2024-11-1413F-HR for 2024-09-30 · $130M · 11 rows
- 2024-08-1413F-HR for 2024-06-30 · $52M · 10 rows
- 2024-05-1513F-HR for 2024-03-31 · $103M · 16 rows
- 2024-02-1613F-HR/A for 2023-12-31 · $95M · 25 rows
- 2024-02-1413F-HR for 2023-12-31 · $95M · 25 rows
- 2023-11-1413F-HR for 2023-09-30 · $99M · 13 rows
- 2023-08-1413F-HR for 2023-06-30 · $1.7B · 33 rows
- 2023-05-1513F-HR for 2023-03-31 · $107M · 21 rows
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