Scion Asset Management Discloses Q2 Holdings: New Buys, Reduced Stake in Estee Lauder.

Scion Asset Management disclosed its Q2 holdings, with new buys in Lululemon, Bruker Corp, Regeneron, MercadoLibre, and UnitedHealth. The firm reduced its stake in Estee Lauder. Scion's top holdings as of June 30 were Estee Lauder, Lululemon, Bruker Corp, Regeneron, and MercadoLibre.

Scion Asset Management, founded by Dr. Michael Burry, disclosed its Q2 2025 holdings, revealing significant new buys and adjustments to existing positions. The firm's top holdings as of June 30 included Estee Lauder, Lululemon, Bruker Corp, Regeneron, and MercadoLibre.

Notable new acquisitions during the quarter include Lululemon (LULU), Bruker Corp (BRKR), Regeneron (REGN), MercadoLibre (MELI), and UnitedHealth (UNH). Scion also reduced its stake in Estee Lauder (EL).

Lululemon, which has faced headwinds with a 50% decline in shares year-to-date, saw Burry increase his investment to $95.03 billion. Despite challenges in the North American market, the company maintains strong international growth and aggressive share repurchases.

Bruker Corp, a medical technology company, saw Burry invest $10.3 billion. The company reported a revenue decline and earnings pressure in Q2 2025, prompting an aggressive cost-cutting initiative to improve financial performance.

Regeneron, with a $105 billion investment from Burry, delivered solid Q2 2025 results, showing 4% revenue growth and significant momentum from key franchises and recent FDA approvals.

MercadoLibre, with a $7.84 billion investment, delivered exceptional Q2 2025 results, with revenue surging 34% YoY and record operating income. The company's dual-engine growth strategy continues to drive expansion in Latin American e-commerce and fintech.

UnitedHealth, with a $109.19 billion investment, demonstrated strong top-line growth but faced significant margin compression and profitability challenges. The company suspended its 2025 guidance in May but reestablished it in Q2, signaling confidence in operational improvements.

Scion's Q2 2025 holdings reflect a diversified approach, with investments spanning healthcare, technology, consumer discretionary, and e-commerce sectors. The firm's strategy of identifying deeply mispriced assets and focusing on overlooked opportunities is evident in these holdings.

References:
[1] https://www.danielscrivner.com/michael-burry-trades-and-holdings-q2-2025/