Scion Asset Management's latest 13F shows Michael Burry made bold moves in Q3 2025. Palantir now dominates the portfolio at 66% despite recent losses. This list breaks down the biggest buys, trims, and exits from the filing.
The Biggest New Position: Palantir Technologies
Palantir Technologies became Burry's largest holding at 66.04% of the portfolio. The new position was revealed in the 13F filed on November 3, 2025. This marks a major shift from the previous portfolio which had no Palantir stake.
The bet comes despite Palantir's high valuation and recent stock price volatility. Scion's move signals confidence in the data analytics company's growth prospects. Investors watch this trade because they follow Burry's contrarian value approach.
A Smaller New Stake in Nvidia
Burry's new Nvidia stake, at 13.5% of his portfolio, ranks as his second-largest holding and signals confidence in further gains. — Photo by Leeloo The First on Pexels
Nvidia Corporation represents 13.5% of Burry's latest 13F portfolio. This new position makes Nvidia the second-largest holding in Scion's portfolio. The investment comes after Nvidia's massive run-up in the AI chip market.
Burry's move may indicate he sees more upside in the semiconductor giant. Scion added the position during Q3 2025 according to the SEC filing. Nvidia's addition shows Burry is willing to own high-momentum tech names.
Taking a Pharmaceutical Position in Pfizer
The new stake in Pfizer offers defensive exposure by capitalizing on a beaten-down pharmaceutical stock. — Photo by Leeloo The First on Pexels
Pfizer Inc accounts for 11.1% of the new 13F portfolio. This new holding suggests Burry sees value in the beaten-down pharma stock. Pfizer's shares have struggled due to declining COVID-19 product sales.
The stake adds defensive exposure to Scion's concentrated portfolio. Burry often buys assets that other investors have abandoned. The position was established sometime during the third quarter of 2025.
The Large Reduction in Lululemon
Burry cut Lululemon by $89 million, the steepest reduction in his latest quarterly portfolio. — Photo by Leeloo The First on Pexels
Burry trimmed Lululemon Athletica Inc by $89,118,000 in reported value. The reduction cut Lululemon's portfolio weight by 17.20 percentage points. This was the largest trim of any position in the latest 13F filing.
Lululemon remains a smaller holding but was clearly a sell candidate. The move shows Burry is reducing exposure to consumer discretionary stocks. Analysts speculate the trim reflects concerns about Lululemon's growth outlook.
Full Exit from UnitedHealth Group
UnitedHealth Group Inc was fully removed from Scion's portfolio in Q3 2025. UnitedHealth had represented 19.96% of the prior portfolio, making it the largest exit. The exit is a notable reversal from what was a major position for Burry.
This selling suggests Burry lost confidence in the health insurance giant. UnitedHealth faced regulatory scrutiny and rising medical costs during 2025. Burry's exit came before the company's recent earnings report.
Exits from Regeneron and Meta Platforms
Regeneron Pharmaceuticals was completely sold out of Scion's portfolio. Meta Platforms Inc was also fully exited during the third quarter of 2025. These exits removed two major holdings from the previous 13F filing.
Regeneron's exit follows a period of mixed clinical trial results. The Meta sale shows Burry is willing to take profits on large tech winners. Both exits freed up capital for the new Palantir and Nvidia positions.
Scion's Four Remaining Positions
The latest 13F shows Scion Asset Management holds exactly four equity positions. Those positions include Palantir, Nvidia, Pfizer, and Halliburton. Halliburton Co represents 4.5% of the new portfolio, down from earlier levels.
Molina Healthcare Inc makes up the smallest stake at 1.7% of the portfolio. This concentrated approach is typical of Burry's high-conviction investing style. With only four positions, each holding carries outsized weight in the fund.
A Small Stake in Molina Healthcare
Molina Healthcare Inc accounts for 1.7% of Burry's latest portfolio. This position may have been carried over from the prior quarter. It is the smallest of the four holdings in the current 13F filing.
The health insurer operates in managed care for government programs. Burry has held healthcare stocks across many quarters, showing a sector interest. The small allocation means the position has limited impact on overall performance.
Scion's Total Assets Under Management
Scion Asset Management has $68,130,000 in assets as of the latest 13F. This is a relatively small fund compared to major institutional investors. Hedgefollow and Stockcircle track these figures from Burry's SEC filings.
The small AUM means Burry can take concentrated positions that larger funds avoid. Despite the size, his moves are widely covered because of his track record. The fund's low asset base amplifies the impact of each individual trade.
Performance During the Third Quarter
Scion Asset Management posted a -6.52% return in Q3 2025. This underperformance came during a mixed quarter for major indices. The losses may have driven Burry's decision to overhaul the portfolio.
Hedgefollow compiles performance data from SEC filings and internal reports. The new Palantir-heavy portfolio will need strong gains to recover. Burry's past performance includes famous wins like the 2008 housing crisis trade.
Why Burry's 13F Filings Matter
Investors track Burry's filings because his contrarian bets often precede market moves. A 13F filing is mandatory for funds with over $100 million in assets under management. Scion's filings are parsed by services like Hedgefollow and Stockcircle.
The filings reflect positions held at the end of the quarter and are subject to revision. Burry's documented moves from 2023 show that he is an adaptive value investor. His decisions can shift sentiment on the stocks he buys or sells.
What This Means for Your Own Investing
Do not copy Burry's trades directly because 13F filings lag the actual end-of-quarter positions. Palantir's high valuation carries real risk despite Burry's large bet. The Lululemon trim suggests caution on consumer stocks overvalued after the pandemic.
Consider your own timeline and risk tolerance before following any 13F ideas. Use the filing as a source of ideas, not a prescriptive blueprint for your portfolio. Scion's small size means its trades happen at prices you cannot replicate exactly.
FAQ
What stocks did Michael Burry buy in Q3 2025?
Burry bought three new stocks in Q3 2025: Palantir Technologies, Nvidia Corporation, and Pfizer Inc. Palantir became his largest holding at 66% of the portfolio, Nvidia took the second spot at 13.5%, and Pfizer made up 11.1%. These moves were disclosed in the 13F filed on November 3, 2025.
Why hasn't Scion Asset Management filed a 13F recently?
Scion's latest available 13F covers positions from the end of Q3 2025. Funds must file within 45 days of the quarter's end, but there is often a delay before aggregators like Hedgefollow update their records. Burry may have also reduced holdings below the $100 million threshold that requires filing.
What is Michael Burry's investment strategy in 2025?
Burry continues a high-conviction, contrarian value strategy in 2025. He bets heavily on Palantir and Nvidia while exiting positions like UnitedHealth and Meta. He trimmed Lululemon after its run-up. His portfolio is concentrated, with four core holdings rather than a wide set of positions.
How much money does Scion Asset Management manage?
Scion manages approximately $68.1 million in assets, according to the latest 13F data compiled by Hedgefollow. This is a small fund by institutional standards. The size lets Burry take concentrated positions that larger funds avoid because of liquidity constraints.
Where can I see Michael Burry's portfolio holdings?
You can see his holdings on the SEC's EDGAR database, where all 13F filings are public. Aggregators like Hedgefollow and Stockcircle also track the portfolio with user-friendly formats. Always check the original filing date, because 13F data reflects positions from the end of the quarter.