How to Track Michael Burry Scion Portfolio via 13F Filings

Learn how to find Scion Asset Management on SEC EDGAR, read put options correctly, and adjust your strategy for the 45-day reporting lag.

You can track Michael Burry's Scion Asset Management portfolio by searching for his fund on the SEC EDGAR database and reading its quarterly Form 13F filings. Institutional investment managers with over $100 million in qualifying assets must disclose their U.S. equity holdings every three months. These filings reveal Burry's long stock positions, put options, and call options at the end of each quarter.

However, 13F reports come with a 45-day delay and omit short positions, cash, and foreign stocks. To evaluate Burry's moves, you must learn how to filter out old data and measure his position sizes. This guide shows you how to find Scion's reports, interpret options contracts, and separate high-conviction trades from temporary hedges.

Key takeaways

• Locate Scion Asset Management on SEC EDGAR using its CIK number.
• Understand that 13F reports list put options as share equivalents, which distorts total portfolio value.
• Account for the 45-day delay between the end of a quarter and the filing deadline.
• Use 13F disclosures to study high-conviction ideas rather than copying trades blindly.

Locating Scion Asset Management on SEC EDGAR

To track Michael Burry's trades, search for his firm, Scion Asset Management, LLC, on the SEC EDGAR system or look it up directly on Bourse.

Type "Scion Asset Management" into the EDGAR search bar and check the Central Index Key (CIK). The CIK is a unique ten-digit number the SEC assigns to every reporting entity. Scion Asset Management uses CIK 0001649339. Always verify this number before analyzing the data. Related entities or legacy funds can clutter search results, but the CIK confirms you have the correct legal entity.

Next, filter the filing list for the correct document type:

• Form 13F-HR: The official holdings report filed every quarter.
• Form 13F-HR/A: An amended holdings report filed to correct or update previous disclosures.

Ignore filings marked Form 13F-NT. That suffix means another manager reports those specific positions on behalf of the firm.

Bookmark the fund profile page for fast access. Institutional managers must file Form 13F within 45 days after the end of each calendar quarter. Checking EDGAR right after these quarterly deadlines ensures you review new holdings as soon as the firm submits them. If you want to track other institutional managers, learn how to find the latest 13F filing for any hedge fund using these same search steps.

Reading Stock Holdings vs Options Positions

When you open Scion Asset Management’s Form 13F, you see a table that lists every position that meets the SEC’s reporting thresholds.

For ordinary equity holdings, the Title of Class column shows “COM” (Common Stock). The adjacent columns give the number of shares and the market value of those shares at the end of the reporting quarter.

Options appear with a different label. In the same Title of Class column the SEC requires the manager to add PUT or CALL after the security name. This tells you the position is an option rather than a share.

Read these rows with two points in mind:

• Value reflects the underlying stock, not the option premium. The dollar amount reported is the market value of the underlying shares on the quarter‑end date. It does not represent the cash paid for the option contract. An entry may list a large value for a put, even though the actual outlay for the contract could be much smaller.

• Puts are not short sales. A put gives the holder the right to sell shares at a predetermined price. It signals a bearish view or a hedge, but it is not the same as a short position in the underlying stock, which would be reported separately if applicable.

By matching the class label with the reported value, you can tell whether the filing shows a direct stock purchase or an option position that carries leverage.

Understanding the 45-Day Reporting Lag

Institutional managers must file Form 13F with the SEC within 45 days after the close of each calendar quarter (March 31, June 30, September 30, December 31). The deadline is fixed; it does not shift based on when a trade occurs.

Because of this rule, a 13F shows the portfolio as it stood on the quarter‑end date, not as it looks when the filing becomes public. If a manager sells a stock on April 2, the position will still appear in the March 31 filing that is released later in May. Likewise, a purchase made on May 1 will not show up until the next filing cycle.

When you follow a manager such as Scion Asset Management, pay attention to the market moves that occur between the quarter‑end date and the filing date. Prices can move sharply in that window, and the 13F will not reflect those changes. Use the disclosed holdings as a record of past allocation decisions. They help you see how the manager’s long‑term exposure evolves, but they do not provide a real‑time view of the portfolio.

What Form 13F Hides From Investors

Form 13F provides a quarterly snapshot of a manager’s long equity positions, but it omits several material components of the portfolio.

• Short positions - The filing only requires long‑only holdings. Any short sale of a listed stock never appears, so market‑neutral or bearish bets remain invisible.
• Non‑U.S. listed securities - Stocks that trade on foreign exchanges are excluded. A manager who holds a European‑listed technology firm will not show that position, even if it represents a sizable share of assets.
• Cash and commodities - Cash, money‑market funds, and physical commodities such as gold or oil are not reported. The filing lists only equity tickers, so the fund’s liquidity buffer or commodity exposure is hidden.
• Intraday and same‑quarter trades - Because 13F is filed quarterly, any trade opened and closed within the same reporting period does not appear. Short‑term opportunistic trades therefore escape the filing.
• Confidential‑treatment requests - A manager can ask the SEC for confidential treatment of a specific security. If granted, public disclosure of that holding can be delayed up to 60 days after the filing deadline.

These omissions make the 13F view incomplete. To build a fuller picture of a fund’s exposure, compare the 13F data with Form 4 filings, press releases, and other public disclosures.

How to Analyze Burry's Turnover and Conviction

To analyze Michael Burry's portfolio turnover and conviction, start by calculating the quarter-over-quarter changes in total share count for existing positions. This will show whether he is increasing or reducing his stake in a company. For example, if Burry holds a certain number of shares of Company X in one quarter and a larger number the next, he has increased his investment, indicating confidence in that position.

Next, identify new additions and complete liquidations. New positions suggest a fresh conviction, while liquidations indicate a shift away from certain stocks. If he sells all shares of Company Y and buys into Company Z, this could reflect his current market outlook.

You should also measure position sizing relative to total reported equity assets. If Burry has a significant amount in total assets and a portion in Company A, this position could indicate strong conviction. A larger position often reflects a higher level of confidence.

Finally, cross-reference Burry's public commentary with his quarterly filing changes. If he mentions a positive outlook on a sector and then increases his stake in a related company, it reinforces his conviction. Conversely, if his comments suggest caution but he increases holdings in certain stocks, it may indicate a strategic play.

By closely monitoring these factors, you can gain insights into Burry's investment strategies and confidence levels.

FAQ

Where can I find Michael Burry's latest 13F filing?

You can find Scion Asset Management's 13F filings on the SEC EDGAR database by searching its entity name or CIK number, or by using Bourse fund tracking tools.

Does Michael Burry report short positions on Form 13F?

No. SEC regulations do not require institutional managers to report short positions in equity shares on Form 13F. They only report long stock positions, put options, and call options.

Why do put option values look so high on Scion's 13F?

Form 13F rules require managers to report options positions using the total value of the underlying shares, not the actual premium price paid to purchase the contract.

When does Scion Asset Management file its 13F reports?

13F filings are due 45 days after the end of each calendar quarter: February 14, May 15, August 14, and November 14 (or the next business day).

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