Michael Burry's Portfolio

MICHAEL BURRY'S SCION ASSET MANAGEMENT Q4 2024 PORTFOLIO

Scion Asset Management, a hedge fund managed by Michael Burry, disclosed 13 security holdings in their SEC 13F filing for the fourth quarter of 2024, with a total portfolio value of $77,435,131

Scion Asset Management Portfolio Analysis

Based on 13F filing for reporting period: Q4, 2024

Portfolio Manager

Michael J. Burry

Filing Date

February 14, 2025

Total Value

$77,435,131

Number of Positions

Portfolio Allocation

Holdings Breakdown

Rank	Company Name	% of Portfolio	Ticker	Shares	Market Value ($)

Michael Burry's Portfolio

Q4 2024 Holdings and Strategic Analysis

As of Q4 2024, Michael Burry's portfolio reveals a strategic recalibration, with both reductions in key Chinese tech holdings and new bets in the healthcare and consumer sectors. Below is a detailed overview of his latest positions and notable changes since the previous quarter.

Top Holdings

BABA

Alibaba Group Holdings

Reduced 25%

Portfolio: 16.43%

Shares: 150,000

Reported Price: $84.79

Value: $12,719,000

Once again a prominent holding, Alibaba has been trimmed by 25%. Despite the reduction, Burry still maintains a sizable stake in this Chinese e-commerce powerhouse, suggesting ongoing optimism about its long-term prospects.

BIDU

Baidu Inc.

No Change

Portfolio: 13.61%

Shares: 125,000

Reported Price: $84.31

Value: $10,539,000

Baidu remains a core position, reflecting Burry's steady confidence in the company's AI capabilities and its potential for continued innovation in autonomous driving and smart city solutions.

JD.com Inc.

Reduced 40%

Portfolio: 13.43%

Shares: 300,000

Reported Price: $34.67

Value: $10,401,000

Burry significantly reduced his stake in JD.com, another major Chinese e-commerce platform. This cut may indicate a more conservative stance toward China's online retail market amid competitive pressures.

Estee Lauder Cos.

New Buy

Portfolio: 9.68%

Shares: 100,000

Reported Price: $74.98

Value: $7,498,000

A new addition to the portfolio, Estee Lauder reflects a pivot toward consumer-facing companies with strong brand equity. This gives Burry exposure to the global beauty and skincare markets.

MOH

Molina Healthcare Inc.

Reduced 16.67%

Portfolio: 9.40%

Shares: 25,000

Reported Price: $291.04

Value: $7,276,000

Molina Healthcare remains a significant holding, albeit reduced this quarter. Its focus on government-sponsored health plans provides defensive qualities—an attractive feature when balancing risk.

PDD

Pinduoduo Inc.

New Buy

Portfolio: 9.39%

Shares: 75,000

Reported Price: $96.99

Value: $7,274,000

Burry's addition of Pinduoduo underscores continued interest in Chinese e-commerce, specifically in platforms known for innovative, value-oriented shopping experiences.

HCA

HCA Healthcare Inc.

New Buy

Portfolio: 5.81%

Shares: 15,000

Reported Price: $300.13

Value: $4,502,000

Another healthcare purchase, HCA strengthens the portfolio's defensive characteristics. As a leading hospital operator, HCA provides relatively stable cash flows and could benefit from ongoing healthcare demand.

BRKR

Bruker Corp.

New Buy

Portfolio: 5.68%

Shares: 75,000

Reported Price: $58.63

Value: $4,397,000

Bruker's inclusion highlights Burry's interest in the life sciences and diagnostic equipment space. With rising global R&D spending, Bruker could capitalize on growing demand for advanced analytical technologies.

VFC

V.F. Corp.

New Buy

Portfolio: 5.54%

Shares: 200,000

Reported Price: $21.46

Value: $4,292,000

V.F. Corp., known for iconic brands like The North Face and Vans, marks a deeper foray into consumer discretionary. This purchase suggests optimism about brand loyalty and retail demand recovery.

MAGN

Magnera Corp.

New Buy

Portfolio: 4.69%

Shares: 200,000

Reported Price: $18.17

Value: $3,634,000

A newly added position, Magnera Corp. signals Burry's willingness to explore opportunities beyond established mega-caps. This purchase indicates his search for emerging or undervalued prospects.

Additional Holdings

OSCR

Oscar Health Inc.

New Buy

Portfolio: 3.47%

Shares: 200,000

Reported Price: $13.44

Value: $2,688,000

Oscar Health broadens the portfolio's exposure to health insurance, specifically focusing on technology-driven solutions. This bet aligns with modernizing healthcare services.

ACIC

American Coastal Insurance Co.

Added 46.10%

Portfolio: 2.54%

Shares: 146,100

Reported Price: $13.46

Value: $1,967,000

Despite past caution toward insurance plays, Burry substantially increased his stake in American Coastal Insurance, possibly reflecting renewed confidence in property and casualty insurers.

GOOS

Canada Goose Holdings Inc.

New Buy

Portfolio: 0.32%

Shares: 24,838

Reported Price: $10.02

Value: $249,000

A modest purchase in Canada Goose suggests a small but strategic bet on luxury outerwear and premium lifestyle branding. This smaller holding hints at Burry's interest in selective consumer names.

Portfolio Strategy Analysis

Reduced Exposure to Chinese E-Commerce Leaders

Alibaba and JD.com—previously among the largest holdings—were notably trimmed. This pivot indicates a desire to lock in gains or reduce risk exposure amid regulatory headwinds and economic uncertainties in China. Still, both remain top holdings, and Burry offset these cuts by initiating a new position in Pinduoduo.

New Emphasis on Healthcare and Defensive Plays

The portfolio features significant activity in healthcare, with Molina Healthcare partially reduced but HCA Healthcare newly added. Oscar Health further diversifies Burry's bets in the sector. This move suggests a preference for stable, demand-driven businesses to balance out more volatile tech positions.

Expansion into Consumer and Specialty Stocks

New positions in Estee Lauder, V.F. Corp., and Canada Goose highlight a tilt toward consumer discretionary and luxury brands. Bruker and Magnera represent specialized bets, possibly capitalizing on niche growth opportunities in diagnostics, scientific research, or emerging markets.

Selective Increase in Insurance

After previously cutting insurance exposure, Burry significantly increased his stake in American Coastal Insurance. This addition could reflect an opportunistic move based on pricing or a reevaluation of risk within the property and casualty segment, potentially taking advantage of market inefficiencies in this sector.

Conclusion

Michael Burry's Q4 2024 portfolio underscores a blend of caution and conviction. While reducing stakes in top Chinese e-commerce names, he has diversified within the tech sector (Baidu, Pinduoduo) and reinforced his defensive positioning through healthcare investments (Molina, HCA, Oscar).

New consumer plays (Estee Lauder, V.F. Corp., Canada Goose) and expanded insurance exposure (American Coastal) reflect opportunistic moves to capture value in sectors poised for recovery or stable returns.

These shifts suggest Burry is balancing risk management—by trimming oversized stakes and emphasizing defensive healthcare—with targeted growth opportunities in consumer, specialty, and Chinese tech segments. As markets evolve, his portfolio positioning highlights a continued willingness to pivot quickly and capitalize on changing market dynamics, all while maintaining core convictions in both tech and healthcare.