Michael Burry - Scion Asset Management Investment Strategy & Portfolio Analysis

As of Mar 31, 2026, Michael Burry's Scion Asset Management portfolio reflects a highly concentrated, high-conviction, thematic, opportunistic approach across 3 reported 13F positions. Portfolio returns are primarily driven by a small set of high-conviction positions such as Molina Healthcare Inc, lululemon athletica inc., and SLM, with the top five holdings accounting for approximately 100% of total exposure and Molina Healthcare Inc alone contributing ~43%. Economic outcomes are highly concentrated in a narrow set of healthcare and consumer cyclical companies names. Exposure to high-growth and technology-oriented segments remains limited relative to peers, with performance instead anchored in durable, cash-generating businesses across healthcare, consumer discretionary, and financials. The portfolio shows elevated turnover, consistent with an actively managed, high-conviction trading approach. Distinctive traits include Active Trader, Highly Concentrated, Economically Concentrated.