Michael Burry’s Portfolio — Scion Asset Management, LLC

Michael Burry is the physician-turned-investor who famously shorted the U.S. housing bubble ahead of the 2008 crisis — the trade chronicled in The Big Short. His fund, Scion Asset Management, runs a small, high-conviction book that can turn over dramatically from quarter to quarter, making his 13Fs among the most scrutinized (and most argued-about) filings each season.

Burry's disclosures are unusual in how often they show outright contrarian positioning: deep-value small caps, out-of-favor sectors, and occasional index put positions that headlines read as market-crash bets. Because Scion's reportable book is compact, a single new position can be a meaningful signal of where he sees mispricing.

Scion Asset Management, LLC reported $1.4B in U.S.-listed holdings across 8 positions for Q3 2025.

Its largest position, MOH, represents 1.7% of the portfolio.

Compared with Q2 2025, the fund opened 7 new positions and exited 10.