Michael Burry - Scion Asset Management
As of Q3 2025, Michael Burry reported 4 long-equity positions worth $68.14M in aggregate.
It also disclosed $1.1B of put notional and $214.38M of call notional. Notional is the contracts’ face value, not the premium paid, so it is reported separately from the equity above — see the Options section below.
Copy-investor backtest
- Latest quarter
- +5.19%
- 1-year
- +5.19%
- 3-year
- +48.45%
- 5-year
- +92.65%
- 3-year vs S&P 500
- -4.04%
- 5-year vs S&P 500
- +39.76%
- 5-year top 5
- +201.42%
Return from mechanically copying the disclosed 13F equity portfolio after each filing and rebalancing at the next. The vs S&P 500 figures subtract SPY over that manager's own rebalance dates, so both sides cover the same days; both are price return, excluding dividends. Method & limitations.
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Live quotes available for 3 of 25 rows. Rows without a quote are marked unavailable.
| 1 | CVS | CVS HEALTH CORP | 40.68% | - | 200,000 | $16.97M | $84.86 | |
| 2 | LMT | LOCKHEED MARTIN CORP | 24.82% | New | 30,000 | $10.35M | $345.10 | |
| 3 | GEO | GEO GROUP INC NEW | 20.75% | Reduce -53.6% | 1,158,820 | $8.66M | No quote | No quote |
| 4 | CXW | CORECIVIC INC | 8.79% | Reduce -68.3% | 412,126 | $3.67M | No quote | No quote |
| 5 | DNOW | NOW INC | 2.75% | New | 150,000 | $1.15M | $7.65 | |
| 6 | SCYX | SCYNEXIS INC | 2.21% | New | 174,030 | $922K | No quote | No quote |
| 14 | VYGGWS | VY GLOBAL GROWTH | - | Sold | 0 | $0 | No quote | No quote |
| 13 | VYGG | VY GLOBAL GROWTH | - | Sold | 0 | $0 | No quote | No quote |
| 12 | SXC | SUNCOKE ENERGY INC | - | Sold | 0 | $0 | No quote | No quote |
| 11 | STNG | SCORPIO TANKERS INC | - | Sold | 0 | $0 | No quote | No quote |
| 10 | OVV | OVINTIV INC | - | Sold | 0 | $0 | No quote | No quote |
| 9 | MRNS | MARINUS PHARMACEUTICALS INC | - | Sold | 0 | $0 | No quote | No quote |
| 8 | GOGL | GOLDEN OCEAN GROUP LTD | - | Sold | 0 | $0 | No quote | No quote |
| 7 | DISCK | DISCOVERY INC | - | Sold | 0 | $0 | No quote | No quote |
Options positions
Put = right to sell at strike (a bearish bet). Call = right to buy at strike (bullish via leverage). The notional column shows the underlying market value reported to the SEC, not the option premium paid - these don't add to the long-equity % portfolio above.
| 11 | WMT | WALMART INCCOM | CALL | Sold | 0 | $0 |
| 10 | TSLA | TESLA INCCOM | PUT | Sold | 0 | $0 |
| 9 | TBT | PROSHARES TRPSHS ULTSH 20YRS | CALL | Sold | 0 | $0 |
| 8 | MCK | MCKESSON CORPCOM | CALL | Sold | 0 | $0 |
| 7 | KHC | KRAFT HEINZ COCOM | CALL | Sold | 0 | $0 |
| 6 | TLT | ISHARES TR20 YR TR BD ETF | PUT | Sold | 0 | $0 |
| 5 | META | FACEBOOK INCCL A | CALL | Sold | 0 | $0 |
| 4 | CVS | CVS HEALTH CORPCOM | CALL | Sold | 0 | $0 |
| 3 | CAH | CARDINAL HEALTH INCCOM | CALL | Sold | 0 | $0 |
| 2 | ARKK | ARK ETF TRINNOVATION ETF | PUT | Sold | 0 | $0 |
| 1 | GOOG | ALPHABET INCCAP STK CL C | CALL | Sold | 0 | $0 |