Scion Asset Management portfolio
Michael Burry's investment firm, Saratoga · 13F holdings for the quarter ended September 30, 2025
Filed with the SEC November 3, 2025 · Next filing due by February 14, 2026
Reported value
$68.1M
up from $56.3M in Q2 2025
Positions
4
6 last quarter
Top 10 holdings
100.0%
of the portfolio
This quarter
3 new · 5 sold
1 added to, 0 trimmed
What Burry did in Q3 2025
Scion Asset Management opened new positions in Molina Healthcare, Slm and Bruker. It raised its stake in lululemon athletica by 100%. It sold out of 5 positions, among them Estee Lauder Companies, Bruker and Regeneron Pharmaceuticals. Molina Healthcare is now the largest holding, at 35.1% of the portfolio.
Biggest buys
- Molina Healthcare MOHNew
- Slm SLMNew
- Bruker BRKRPNew
- lululemon athletica LULU+100%
Biggest sells
- Estee Lauder Companies ELSold out
- Bruker BRKRSold out
- Regeneron Pharmaceuticals REGNSold out
- Mercadolibre MELISold out
- Unitedhealth Group UNHSold out
Top 4 holdings
Values as reported in the 13F, not today’s prices| # | Company | Share of portfolio | Reported value | Change vs Q2 2025 | Held since |
|---|---|---|---|---|---|
| 1 | Molina HealthcareMOH | 35.1% | $23.9M | New | Q3 2024 or earlier |
| 2 | lululemon athleticaLULU | 26.1% | $17.8M | +100% | Q2 2025 |
| 3 | SlmSLM | 19.5% | $13.3M | New | Q3 2025 |
| 4 | BrukerBRKRP | 19.3% | $13.1M | New | Q3 2025 |
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About this data
- What is a 13F?
- A quarterly report to the SEC in which an investment manager with over $100 million in US-listed stocks lists what it holds.
- How current is it?
- Managers file up to 45 days after each quarter ends, so the holdings may have changed since.
- Whose figures are these?
- The values are as the manager reported them in the filing, not today's prices. The SEC lets a manager keep some positions confidential for a time, and those are not in the filing.
- What does it leave out?
- Short positions, cash, bonds and most holdings outside US markets. Options are left out here too.