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 runs a barbell: bearish on the AI trade, long a book of beaten-down value names. This is a running record of the trades he discloses on his Substack, not a live portfolio, and it can change without notice.
Latest disclosure · September 28, 2026
Burry says weekend research leads him to believe 'the bubble in AI may burst sooner than later,' and that he is 'moving timelines up.'
Covered
MUNVDASOXXNBISORCLCRWVCAT
Rolled bigger
QQQPLTR
New short
MET
Added
SFMQXO
From his Sept 28 Trading Post, 'Big Action in Big Shorts.' The post is paywalled, so the trade list comes from a third-party tracker.
| Short / bearish | What he did |
|---|---|
| Invesco QQQ TrustQQQNEW | Nasdaq-100 put options, now his broadest bet against the AI trade. Rolled into a bigger position on Sept 28. |
| PalantirPLTRNEW | Put options plus short stock, first added around $175. Rolled into a bigger position on Sept 28. |
| MetLifeMETNEW | New short on Sept 28, a day after his post on the AI financing web singled out insurers. |
| Long | What he did |
|---|---|
| lululemonLULU | His largest long, 'the trickster in my portfolio.' He kept buying under $100 after the Sept 3 guidance cut, having first warned that things had 'changed for the worse,' and added substantially on Sept 11. |
| MercadoLibreMELI | His second-largest long. Added around $1,850 in August and again on Sept 22. |
| Molina HealthcareMOH | Added near $198 on Aug 11, back to a top-sized position. |
| ZoetisZTS | Bought around $76 and added in the low $70s in early September. A reported Sept 11 sale was never confirmed. |
| Temple & WebsterTPLWF | Australian online furniture retailer (Sydney: TPW), one of his four largest longs. Added on Sept 21. |
| AdobeADBE | Ranked alongside PayPal and Fiserv on his own software valuation screen. |
| JD.comJD | Chinese e-commerce long from his early-September rundown. |
| HCA HealthcareHCA | Hospital operator, part of his healthcare book with Molina. |
| Flutter EntertainmentFLUT | FanDuel and Paddy Power owner. He doubled the position earlier this year at an average cost in the high $90s. A reported sale has not been confirmed. |
| Fannie Mae & Freddie MacFNMA | A bet that conservatorship ends (Freddie trades as FMCC). Added to Freddie in the mid-$5s in late August. |
| Sprouts Farmers MarketSFMNEW | Beaten-down grocery chain. Added on Sept 21, Sept 22 and Sept 28. |
| PayPalPYPL | One of the cheapest quality businesses he owns, he says. Trimmed Aug 28 in the low $50s, with a plan to add in the mid-$40s. |
| Veeva SystemsVEEV | Beaten-down life-sciences software maker. Trimmed Aug 28. |
| BirkenstockBIRK | Contrarian buy in the mid-$30s in late August. Added again on Sept 22. |
| Build-A-Bear WorkshopBBW | Small-cap retailer he wrote up on Aug 29 as a Peter Lynch style buy. Added on Sept 22. |
| Ero CopperERO | Brazil-focused copper miner, new on Sept 21 as part of a copper theme. |
| QXOQXONEW | Brad Jacobs's building-products rollup. New on Sept 21, added on Sept 22 and Sept 28. |
| Samsung Electronics | A former top-three position bought at tangible book value (OTC: SSNLF). Probably the unnamed 'uncommon sell' in his Aug 28 post, though he has not said so. |
| FiservFISV | Bought near $49.50 in June at a 10-year low. Trimmed on Sept 9. |
| Closed | What he did |
|---|---|
| Micron TechnologyMUNEW | Covered Sept 28. He had kept adding as the stock ran toward $1,000. |
| NvidiaNVDANEW | Short stock covered Sept 28. Not yet clear what happened to his longer-dated puts or the Nvidia long he held as a hedge. |
| iShares Semiconductor ETFSOXXNEW | Covered Sept 28. Had been his largest bearish position; he sold the SOXX puts in August. |
| Nebius GroupNBISNEW | Covered Sept 28. Opened near $212 in August ('shooting fish in a barrel'). |
| OracleORCLNEW | Covered Sept 28. Shorted around $152 on the data-center debt buildout. |
| CoreWeaveCRWVNEW | Covered Sept 28. Opened in August, a week after calling it 'the leading candidate for memesville.' |
| CaterpillarCATNEW | Covered Sept 28. Had been his proxy for the data-center construction cycle. |
| TeslaTSLA | Covered for a gain in early September after opening at $416.22 on June 30. |
| Applied MaterialsAMAT | Covered for a gain in early September after opening at $729.40 in late June. |
Sourced from his Cassandra Unchained Substack, tracked live in Burry Watch below. Where a post is paywalled, trade names come from a third-party tracker. Not investment advice.
Burry Watch · live from his "Cassandra Unchained" Substack, polled every 10 min
| Posted | Post |
|---|---|
| Sep 28, 6:00 PM | Trading Post September 28, 2026 Big Action in Big Shorts As My Research Progresses, plus a few new Buys |
| Sep 28, 2:20 AM | Short Thoughts: A Wall Street Titan Hands Us Part V.5 of Our Heretic’s Guide to AI’s Stars. Researching for Heretic’s Guide Part VI, I Stumble Upon Can’t-Wait Info That is Must Know Now |
| Sep 26, 11:20 PM | Abridged - Capital Cycle IQ & Forensic Files on the Big 5 Hyperscalers (MSFT, AMZN, ORCL, META, GOOG) The Heretic’s Guide to AI’s Stars Part V, with CU Universe Stock Rankings & the All Map |
| Sep 24, 6:28 PM | Capital Cycle IQ & the Forensic Files of the Big 5 Hyperscalers The Heretic’s Guide to AI’s Stars Part V, with CU Universe Rankings, the All Map |
| Sep 23, 6:40 PM | The Next Big Deadly Fire Nightmare is Being Incubated Right Now by the State of California The City’s Own Report Demonstrates People Could Die. |
| Sep 22, 5:06 PM | Trading Post September 22, 2026 Running the Table Today, Processing Newsflow, and Putting out a Quick Update |
| Sep 21, 5:50 PM | Trading Post September 21, 2026 A Number of Value Buys, Including Two New to the CU Universe |
| Sep 19, 4:22 AM | The Heretic’s Guide to AI’s Stars Part IV: The Big 5 Hyperscalers & the Missing $3 Trillion A study of overlooked footnotes to the 10-K and 10-Q filings from Amazon, Meta, Alphabet, Microsoft & Oracle |
| Sep 16, 6:45 PM | The Sickle Cell Development Fund Cassandra Unchained Charity of the Month September 2026 |
| Sep 11, 7:52 PM | Trading Post Friday September 11, 2026 Selling out of one to pile into another |
| Sep 11, 2:14 PM | Shorting the Dollar by Drinking Free First Growth Bordeaux For Life Or, How a Lifetime Free supply of First Growth Bordeaux Requires Shorting the Dollar |
| Sep 10, 8:03 PM | Shorting the Dollar by Drinking Free First Growth Bordeaux Or, How a Lifetime Free supply of First Growth Bordeaux Requires Shorting the Dollar |
| Sep 9, 2:23 PM | Trading Post September 9, 2026 Another Quick One |
| Sep 4, 9:12 AM | Trading Post 9/4/2026 Cock-a-doodle-doooooooo. Rise and shine and consider this important message. |
| Sep 3, 11:34 PM | Short Thoughts - Cassandra in Flames? In Flames Like a Phoenix; She who has fallen shall rise again. |
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
New buys (7)
- 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
Added to (1)
- LULULEMON ATHLETICA INC$17.8M
Trimmed (0)
None
Exited (14)
- 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
Questions people ask
Does Scion Asset Management still file a 13F?
No. Scion Asset Management deregistered as an investment adviser and stopped filing 13Fs. This page keeps its final 13F for the record, filed Nov 3, 2025, and follows Michael Burry's own published trades instead.
Why are Substack posts on a 13F tracker?
Michael Burry publishes trades and market notes on Substack the same day, while a 13F would lag by up to 45 days. For a fund that no longer files, that feed is the only current record.
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.