Scion Asset Management’s Q3 2025 13F filing shows a decisive portfolio rotation under Michael Burry, with new long positions in healthcare and energy, increased exposure to consumer discretionary, and sizable downside hedges against AI-linked equities.
The firm initiated new stakes in SLM Corp. (480K shares) and Molina Healthcare (125K shares), added call options on Halliburton and Pfizer, and disclosed large put positions on Nvidia and Palantir. Scion also increased its Lululemon holding to 100K shares from 50K, while exiting positions in Estee Lauder, UnitedHealth, Regeneron, and multiple tech-related calls. The restructuring of Bruker from common to preferred stock further highlights a defensive, value-oriented shift in positioning.
Also see: Michael Burry Portfolio: Investments and Insights
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