Michael Burry
Scion Asset Management
Scion Asset Management was deregistered in late 2025. Michael Burry now invests personally and discloses his trades on his Substack, not in SEC 13F filings, so there are no new quarterly holdings to report. The Burry Watch feed below is the live source we follow for him.
Recent plays · his current book since he closed Scion, from his Substack
Michael Burry is running a barbell: short the AI-infrastructure complex through put options and short stock, and long a book of beaten-down value names. This is a running record of the trades he has disclosed on his "Cassandra Unchained" Substack since he closed Scion, not a quarterly snapshot. Prices are the levels he cited when he made each trade, not his current holdings. Burry trades actively and can add, trim, sell or cover a position at any time without notice, so some of these may already have changed.
| Short / bearish | What he did |
|---|---|
| Nebius GroupNBISNEW | Opened the short near $212 in early August ('shooting fish in a barrel'), then added into the Aug 12 earnings pop, around $247, as the stock spiked past $250. His headline bet against AI-infrastructure leverage. |
| Micron TechnologyMUNEW | Short the memory maker even as the DRAM and AI boom pushed the stock above $900. |
| NvidiaNVDA | Long-dated put options, the core of his AI-bubble book. |
| PalantirPLTR | Put options plus short stock, added around $175. |
| OracleORCLNEW | Added to the short around $152 on the data-center debt buildout. |
| CaterpillarCAT | Short as a proxy for the AI and data-center construction cycle. |
| iShares Semiconductor ETFSOXXNEW | Semiconductor index puts, paired with Nasdaq-100 (QQQ) puts, rolled forward and added to. |
| Long | What he did |
|---|---|
| MercadoLibreMELINEW | Added to the long around $1,850 on Aug 12, his newest disclosed buy. |
| Molina HealthcareMOHNEW | Added near $198 on Aug 11, back to a top-sized position. Bullish on the managed-care insurer long term. |
| ZoetisZTSNEW | Added around $76 as a full position, betting on the animal-health leader after a long slide. |
| Samsung Electronics | A top-three position. His rule is to buy the memory and electronics giant at tangible book value (Seoul 005930, OTC SSNLF). |
| FiservFISV | Bought near $49.50 in June at a 10-year low, well off its $226 high. |
| PayPalPYPL | A deep-value long he calls one of the cheapest quality businesses he owns. |
| Fannie Mae & Freddie MacFNMA | Long the mortgage giants Fannie Mae and Freddie Mac (FNMA, FMCC) on the bet their conservatorship finally ends. |
| lululemonLULU | A contrarian long after the stock collapsed, his defense of the 800-pound gorilla. |
Sourced from his Cassandra Unchained Substack (tracked live in Burry Watch below) and checked against his posts and established coverage before listing. This is a record of what he has disclosed, not a live portfolio, and is not investment advice.
Burry Watch · live from his "Cassandra Unchained" Substack, polled every 10 min
| Posted | Post |
|---|---|
| Aug 13, 6:12 PM | Trading Post August 13, 2026 Welcome to the Sausage Factories |
| Aug 12, 7:58 PM | Trading Post August 12, 2026 More buys, more shorts |
| Aug 11, 7:54 PM | Trading Post August 11, 2026 Today I added to my three largest shorts |
| Aug 10, 5:52 PM | Trading Post August 10, 2026 Today I executed just a few trades, inclusine of one that I am still trying to make. |
| Aug 7, 7:58 PM | Trading Post August 7, 2026 Today I added to a few long positions, shorted more of one, and bought some more puts. |
| Aug 6, 5:04 PM | Trading Post 8/6/2026 Two Shorts, 3 Earnings Reports with 1 Add & 2 Holds This is a bit like shooting fish in a barrel. |
| Aug 5, 7:49 PM | Trading Post August 5, 2026 - One Buy, One Sale, One Reason Flutter (FLUT) reported United States gambling market EBITDA droppped 70% to $119 million, offset by International EBITDA up 10% (4% organic) to $2.3 billion. |
| Aug 4, 7:50 PM | Trading Post August 4, 2026 My Options A good number of trades, and a follow up. |
| Aug 3, 2:02 PM | [Abridged] Foundations: Market Structure, Volatility Targeting, Pod Shops & Other Gremlins For Market Understanding & Air Superiority in Under 1500 Words |
| Jul 31, 9:02 PM | Foundations: Market Structure & What The Heck Just Happened The Type of Read that Grants the Reader not only Understanding but Air Superiority |
| Jul 30, 7:51 PM | Trading Post July 30, 2026 A sizable batch of trades, but only two kinds of charts |
| Jul 25, 12:28 AM | Short Thoughts June 24, 2026 - Offshore Insurers, Meet the Hyperscalers Andrew Granato of the University of Texas and Pranjal Drall in a 65 page academic paper take down the private credit/private equity/insurance shell game |
| Jul 24, 6:22 PM | Trading Post July 24, 2026 No frills update on a busy day, and a word on Palantir |
| Jul 23, 6:46 AM | Trading Post July 23, 2026 - 3 Stock Buys & the BIS Weighs in on AI's Rampant Circular Financing Taking the Momentum Pair Trade challenge by shorting the Pods |
| Jul 17, 6:26 PM | Trading Post July 17, 2026 Plus Netflix & What's Up with the VIX Added to one stock position, cut one put position in half, and added to another put position |
Burry posts his trade commentary on Substack, usually the same day. Most posts are paywalled past what's shown here, so we cover the trade details ourselves once they are confirmed.
Final 13F holdings · his last SEC filing before he deregistered, Nov 3, 2025. Positions have since changed; see recent plays above.
| # | Holding | Value | % of book | Shares |
|---|---|---|---|---|
| 1 | PALANTIR TECHNOLOGIES INCPUT | $912.1M | 66.0% | 5,000,000 |
| 2 | NVIDIA CORPORATIONPUT | $186.6M | 13.5% | 1,000,000 |
| 3 | PFIZER INCCALL | $152.9M | 11.1% | 6,000,000 |
| 4 | HALLIBURTON COCALL | $61.5M | 4.5% | 2,500,000 |
| 5 | MOLINA HEALTHCARE INC | $23.9M | 1.7% | 125,000 |
| 6 | LULULEMON ATHLETICA INC | $17.8M | 1.3% | 100,000 |
| 7 | SLM CORP | $13.3M | 1.0% | 480,054 |
| 8 | BRUKER CORP | $13.1M | 1.0% | 48,334 |
Showing top 8 of 8 reported positions. Put/Call tags mark options positions.
Latest-quarter moves · from the most recent 13F vs. the prior quarter
- PALANTIR TECHNOLOGIES INC (Put)$912.1M
- NVIDIA CORPORATION (Put)$186.6M
- PFIZER INC (Call)$152.9M
- HALLIBURTON CO (Call)$61.5M
- MOLINA HEALTHCARE INC$23.9M
- SLM CORP$13.3M
- BRUKER CORP$13.1M
- LULULEMON ATHLETICA INC$17.8M
- UNITEDHEALTH GROUP INC (Call)$109.2M
- REGENERON PHARMACEUTICALS (Call)$105.0M
- LULULEMON ATHLETICA INC (Call)$95.0M
- META PLATFORMS INC (Call)$73.8M
- LAUDER ESTEE COS INC (Call)$40.4M
- JD.COM INC (Call)$32.6M
- ALIBABA GROUP HLDG LTD (Call)$28.4M
- ASML HOLDING N V (Call)$20.0M
- V F CORP (Call)$17.6M
- LAUDER ESTEE COS INC$12.1M
- BRUKER CORP$10.3M
- REGENERON PHARMACEUTICALS$7.9M
- MERCADOLIBRE INC$7.8M
- UNITEDHEALTH GROUP INC$6.2M
Data from SEC EDGAR filings. 13Fs are quarterly and lag by up to 45 days, cover only US-listed long positions and certain options, and exclude shorts and non-US holdings. Not investment advice.