Scion Asset Management Portfolio holdings
Scion Asset Management, LLC, founded in 2013 by Dr. Michael J. Burry and headquartered in Saratoga, California, is a private investment firm managing approximately $196 million in discretionary assets across four private investment funds as of early 2024. Led by Burry, famously portrayed in *The Big Short* for predicting the 2008 subprime mortgage crisis, the firm focuses on long-term capital appreciation through a value-oriented, research-driven approach, investing in a diverse range of securities including equities, debt, and derivatives, often with a contrarian bent. Unlike traditional advisory firms, Scion caters exclusively to institutional clients and pooled investment vehicles, such as its Cayman Islands- and Delaware-based funds, requiring minimum investments from $500,000 to $1.5 million, and does not serve individual retail investors directly. With a small team of six, including key figures like COO Zaeed Kalsheker, Scion maintains a low-profile yet influential presence, leveraging Burry’s deep market insights to navigate complex economic landscapes.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Nexstar Media Group
NXST
|
+$5.46M |
| 2 |
Alibaba
BABA
|
+$4.58M |
| 3 |
Booking.com
BKNG
|
+$4.54M |
| 4 |
JD.com
JD
|
+$4.35M |
| 5 |
CMBT
CMB.TECH NV
CMBT
|
+$3.25M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Expedia Group
EXPE
|
+$10.9M |
| 2 |
Charter Communications
CHTR
|
+$9.18M |
| 3 |
Generac Holdings
GNRC
|
+$8.2M |
| 4 |
Cigna
CI
|
+$7.72M |
| 5 |
CVS Health
CVS
|
+$6.91M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 22.06% |
| 2 | Communication Services | 7.05% |
| 3 | Energy | 6.7% |
| 4 | Industrials | 5.85% |
| 5 | Real Estate | 2.69% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
iHeartMedia
IHRT
$602M
| – | – |
-600,000
| Closed | -$2.18M |
|
27
Liberty Latin America Class C
LILAK
$1.67B
| – | – |
-495,000
| Closed | -$3.88M |
|
28
MGM Resorts International
MGM
$11.4B
| – | – |
-150,000
| Closed | -$6.59M |
|
|
PDS
29
Precision Drilling
PDS
$996M
| – | – |
-11,630
| Closed | -$569K |
|
30
PUT
Invesco QQQ Trust
QQQ
$469B
| – | – |
-2,000,000
| Closed | -$739M |
|
31
iShares MSCI Japan Small-Cap ETF
SCJ
$255M
| – | – |
-13,500
| Closed | -$923K |
|
32
Signet Jewelers
SIG
$3.69B
| – | – |
-85,000
| Closed | -$5.55M |
|
33
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$806B
| – | – |
-2,000,000
| Closed | -$887M |
|
|
VTLE
34
DELISTED
Vital Energy
VTLE
| – | – |
-125,000
| Closed | -$5.64M |
|
35
Warner Bros
WBD
$65.4B
| – | – |
-375,000
| Closed | -$4.7M |
|
|
FLG
36
Flagstar Bank National Association
FLG
$5.93B
| – | – |
-66,667
| Closed | -$2.25M |
|
|
QVCGA
37
DELISTED
QVC Group Inc Series A
QVCGA
| – | – |
-30,000
| Closed | -$1.48M |
|
|
NEX
38
DELISTED
NexTier Oilfield Solutions Inc.
NEX
| – | – |
-400,000
| Closed | -$3.58M |
|
Similar funds
Scion Asset Management's Q3 2023 Portfolio in Review
As of Q3 2023, Scion Asset Management held 38 positions worth $99M, down 94% from $1.74B the previous quarter. Its ten largest holdings account for 95% of the portfolio.
Scion Asset Management withdrew a net $1.64B in Q3 2023, closing 25 positions and reducing 2 holdings. Its most notable exit was Expedia Group, an estimated $10.9M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 22% of assets, up from 2% a quarter earlier, followed by Communication Services and Energy.
Against the trend, Scion Asset Management opened a new position in Alibaba worth $4.34M.
- Scion Asset Management's largest Q3 2023 buy was Alibaba: 50,000 shares worth $4.34M.
- Scion Asset Management added most to Nexstar Media Group in Q3 2023, an estimated $5.46M increase.
- Scion Asset Management's biggest Q3 2023 reduction was The RealReal, cutting an estimated $1.83M.
- Scion Asset Management fully exited Expedia Group in Q3 2023, selling an estimated $10.9M.
- Scion Asset Management's ten largest holdings make up 95% of its $99M portfolio in Q3 2023.
- Scion Asset Management opened 5 new positions and closed 25 in Q3 2023.
- Scion Asset Management's portfolio value fell 94% quarter-over-quarter to $99M.
Based on Scion Asset Management's 13F filing for Q3 2023, filed 14 Nov 2023.