scion asset management

The total portfolio value may be much higher due to cash By using this site, you are agreeing to security monitoring and auditing. This form was filed on 2023-02-14 for the reporting period 2022-12-31. This value is significant in that it is the last known price at which the security was still held. Michael Burry's hedge fund's other holdings consist of: In general, Michael Burry's investment philosophy is based on fundamental analysis. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Thanks for contacting us. [6] Scion Capital ultimately recorded returns of 489.34% (net of fees and expenses) between its November 1, 2000 inception and June 2008. Michael Burry is head of Scion Asset Management. In his words: All my stock picking is 100% based on the concept of a margin of safety.. Growth has also been smooth for the company due to the recurring nature of its business model. Scion Capital returned 489.34% (net of fees and expenses) between November 1, 2000 and June 2008 compared to 3% total return from S&P 500 during the same time frame. WRITE REVIEW. Questions to ask Questions to ask Most recent portfolio value is calculated to be $ 46,536,925 USD. While this can be seen as "eating your own cooking," there are conflicts that may arise. What does this mean? To see Scion Asset Management's original 13F reports (2022 Q4), please click on the "important" button. Any data inaccuracies, please contact our team. , Hedge Fund Manager. [] , whose value fell approximately 0.1% in the past six months. Burry predicted, "Fed will cut and government will stimulate. The investor's firm, Scion Asset Management, held bearish put options on over 800,000 shares of Elon Musk's . Questions to ask exclusive offers, they cannot pay to alter our recommendations, advice, ratings, or any other content throughout the site. FINRA data last verified February 17, 2023. Ultimately, Burrys analysis proved right. He only looks for their undervalued elements, regardless of their sector and class. It is now the funds fourth-largest holding, accounting for 10.7% of its holdings. The portfolio is made up of a total of 102 facilities, including 82,000 beds. 2015-2023 Fintel Ventures LLC. Does your firm, or anyone associated with the firm, practice as a law firm? CUPERTINO, Calif.--(BUSINESS WIRE)--On August 16 th, Scion Asset Management sent a letter to the Board of Directors of GameStop Corp. urging the Board to direct the full execution of its March 4 . Michael Burry has been on a buying spree lately. There are 3 companies that go by the name of Scion Asset Management, LLC. Founded in 2013, Scion Asset Management is a multi-strategy hedge fund manager based in Saratoga, California. The fund's top five holdings, which we analyze below, account for 72.2% of its total public . He has said, "Fresh, clean water cannot be taken for granted. There are currently 6 companies in Mr. Burrys portfolio. Dr. Burry When operating in this dual capacity, advisors may be incentivized to implement plans as an attorney that could drive higher revenue for themselves as investment advisors. A regulatory agency has previously denied, suspended, or revoked the firms or an advisory affiliates registration or license or otherwise restricted their activities. Will any of my assets be invested in those products? As of 7th November 2022, Scion Asset Managements top holding is 2,019,150 shares of Geo currently worth over $15.5 million and making up 37.6% of the portfolio value. The president and supporters of his plan argue student loan debt forgiveness will provide much-needed relief to million debt-saddled Americans. . [32], Burry was highly critical of the lockdowns during the COVID-19 pandemic in the United States.[33]. However, Dr. Burry has a much broader track record in the investing world. As a result, the company will soon be able to self-fund its growth and overall operations. You wont receive financial advice or any financial planning services as an individual investor, and you can only invest in the available funds that the firm oversees. The fund has around $291.7 million in assets under management (AUM), $41.3 million of which is allocated to the firms public equity portfolio. Musk Made a Mess at Twitter. SCION ASSET MANAGEMENT, LLC ( CRD # 167772/SEC#:801-113529 ) The adviser's REGISTRATION status is listed below. Scion Asset Managements portfolio is diversified across 5 sectors. After more than two years, on February 14, 2019, Scion Asset Management filed another 13F, showing Burry to hold numerous large-cap stocks and $103,528,000 13F assets under management, just above the threshold for filing. Not only did he make a personal profit of $100 million, but his remaining investors earned more than $700 million. Does your firm offer mutual funds that have 12b-1 fees? Michael Burry's hedge fund Scion Asset Management is based in Saratoga, California and manages capital for 5 clients. For instance, research has shown that mutual funds that use incentive fees take on more risk than funds that do not, and tend to double down and increase their risk following a poor performance. Description. Questions to ask The SEC or CFTC has found firm or an advisory affiliate to have been involved in a violation of its rules. [9] His son was diagnosed with Asperger syndrome, and Burry believes he himself has Asperger syndrome after reading about the disorder. Should I Hire a Financial Advisor or DIY It? Ray Dalio's: Bridgewater Associates. Company profile page for Scion Asset Management LLC including stock price, company news, press releases, executives, board members, and contact information It is now the funds third-largest holding, accounting for 12.8% of its holdings. 18951. Keep reading this article to learn more about Scion Asset Management. Following the massive triumph he experienced by successfully predicting the subprime mortgage crisis of 2007-2008, Dr. Michael Burry has grown into a living legend in the world of finance. More than 90% of the beds are located in the US. David Einhorn's: Greenlight Capital. For more information, contact opendata@sec.gov. Scion Asset Management is an investment fund managing more than $41.3 million ran by Michael Burry. "Trusted by investor.com" status is reserved to those financial advisor firms meeting investor.com's strict requirements, beginning with earning no less than a 4.5 to 5 -star rating based on investor.com's independent Trust algorithm analysis. Michael Burry is an American investor, and hedge fund manager. Thanks for supporting the Wall Street Memes). The Software Solutions segment provides software and hosting solutions comprising MSP, a SaaS application platform for mortgages, home equity loans, and lines of credit. In comparison, the S&P 500 returned just under 3%, including dividends, over the same period. 0001567619-21-010281.txt. [9], Despite not practicing, Burry has kept his license as a physician active with the Medical Board of California, including continuing education requirements.[10][11]. Investors following the companys 13F filings over the last 3 years (from mid-February 2020 through mid-February 2023) would have generated annualized total returns of 51.4%. What does this mean? Scion Asset Management General Information. It is now the funds fifth-largest holding, accounting for 10.0% of its holdings. [18][16], In 2013, Burry reopened his hedge fund, this time called Scion Asset Management, filing reports as an exempt reporting adviser (ERA) active in the state of California and approved by the SEC. Written by investor.com. In addition, the fund holds 5,000,000 shares of . By the end of 2004, he was managing $600 million and turning money away. Qurate Retail Inc makes up Scion Asset Management, LLC has disclosed 9 total holdings in their latest 13F filing with the SEC for the portfolio date of 2022-12-31. Does your fim accept soft-dollar benefits? Firm or an advisory affiliate was previously found to have made false statements or omissions by a self-regulatory organization. 12.25% 3-Year Performance. It's not hard.". When I left residency at Stanford to gamble my future on what was to become, I had well into six figures of educational debt. in 2008. Scion Asset Management, the firm of "The Big Short" investor Michael Burry, disclosed this week that during the fourth quarter of 2019, it closed its holding in Bed Bath & Beyond Inc. (NASDAQ:BBBY . See how we calculate 13F filing performance here, Scion Asset Management / Michael Burry holdings now, Scion Asset Managements Fund Manager, Michael Burry, Scion Asset Managements Investment Philosophy & Strategy, Scion Asset Managements Noteworthy Portfolio Changes, Scion Asset Managements Portfolio All 9 Public Equity Investments, 20 Highest Yielding Monthly Dividend Stocks, Liberty Latin America Ltd Class C (LILAK). Why has Burry, who is bearish on the . The Scion Asset Management founder studied at UCLA and earned his medical degree at Vanderbilt University before starting and eventually abandoning a residency at Stanford University . Average metrics of all companies in portfolio . Does your firm recommend securities that it or its affiliates underwrite, or in which it serves as general or managing partner? A domestic or foreign court has previously found firm or an advisory affiliate was involved in a violation of investment-related statutes or regulations. Based on his analysis of mortgage lending practices utilized in 2003 and 2004, he accurately forecasted that the real estate bubble would come tumbling by 2007. What does this mean? Wolverine World Wide, Inc. (US:WWW) What does this mean and why is this important? *SEC data last verified February 17, 2023. If you require advice in relation to any financial matter you should consult an appropriate professional. The current portfolio value is calculated to be $47.00 Mil. Chase Coleman's: Tiger Global Management. Questions to ask Firm or an advisory affiliate was previously found to have made false statements or omissions by the SEC or CFTC. We reserve the right to block IP addresses that submit excessive requests. He also believes that he expects growth in the consumer price index (CPI) to come down and be possibly negative in the second half of 2023. Hedge funds are required to report only their long positions, not their short positions. Strategies arent specified: There isnt a lot of specificity provided . The firm's website is not secure by modern internet standards. Firm or a related person trades securities for themselves that they also recommend to their clients. What does this mean and why is it important? decreased its share price by approximately 0.1%, Geo total 2,019,150 shares worth $15.5 million. John Rogers - Ariel Appreciation Fund Updated 11 Jan 2023. Accordingly, he disregards price-to-earnings ratios to dodge being deceived by a companys stated metrics. Portfolio 9 Options 0 Performance. [17] He subsequently liquidated his company to focus on his personal investments. Firm recommends securities or other investment products to advisory clients in which the firm or a related person has some other proprietary (ownership) interest that isnt related to trading or holding the security or securities themselves personally. Portfolio value: $46M+ Period: 2022 Q4. Dr. Michael J. Burry is a well known investor and hedge fund manager of Scion Asset Management, LLC Holdings. Currently, their heaviest sector is Real Estate making up 53.2% of The portfolio numbers only nine equities, with The GEO Group accounting for 20.4% of its holdings. Burry has a strictly traditional understanding of value. This could be detrimental to a client during down markets. This SEC practice is designed to limit excessive automated searches on SEC.gov and is not intended or expected to impact individuals browsing the SEC.gov website. Regulatory disclosures state that firm sells proprietary investments and products. , Coherent Corp. produces and manufactures, and sells engineered materials, optoelectronic components, and devices internationally. Burry even ended up selling 99% of his positions in 2022, including Alphabet (GOOGL) - Get Free Report, Warner Bros Discovery (WBD) - Get Free Report, and Meta (META) - Get Free Report, leaving only his position in GEO Group. 1001 and 1030). The Scion Asset Management chief's grim prediction may be coming true, as the S&P 500 and Nasdaq indexes tumbled by 19% and 33% respectively in 2022. That would put the U.S. in a recession under "any definition.". Charles Bobrinskoy - Ariel Focus Fund Updated 11 Jan 2023. He has said more than once that his investment style is built upon Benjamin Graham and David Dodds 1934 book Security Analysis: "All my stock picking is 100% based on the concept of a margin of safety. What does this mean? Burry's bearish thesis is that the American economy will go into recession in 2023 regardless of how we define the term. So is Burry less bearish on the U.S. economy than he was last year? [19] He has focused much of his attention on investing in water, gold, and farm land. Investment adviser firms registered with the SEC may be required to provide to state securities authorities a copy of their Form ADV and any accompanying amendments filed with the SEC. "[20], Glimpses were offered into Scion's portfolio with 13Fs filed from the 4th quarter of 2015 through the 3rd quarter of 2016, as required by the SEC when fund holdings top $100 million. It would appear that Burry is betting that China will rebound. Read through our introductory course to financial advisors. The conservative-majority Supreme Court appeared skeptical of Bidens plan during hearings this week, raising doubts about the likelihood it will receive final approval. Scion employs over 1,750 team members and has over $9 billion of assets under . Black Knight Inc (US:BKI) "Here's the story of one of the heroes of 'The Big Short', "The True Story Behind The Big Short - Real Michael Burry", The Greatest Trade Ever: The Behind-the-Scenes Story of How John Paulson Defied Wall Street and Made Financial History, "Mercury News Interview: Hedge fund manager saw subprime meltdown coming", "These Doctors Mean Business," Whitney, Kathy, Medicine (Vanderbilt School of Medicine), Summer 2014, "Learning From Dr. Michael Burry's Investment Philosophy", "Michael Burry Profiled: Bloomberg Risk Takers", "I Saw the Crisis Coming. Questions to ask As a Certified B Corporation, our focus is simple: people before profits. These conflicts can negatively impact clients via hidden fees and overall higher costs. The following data is gathered from Scion Asset Management's latest 13F filing with the SEC for the reporting period of September 30, 2022. Michael James Burry (/bri/; born June 19, 1971)[2] is an American investor, hedge fund manager, and physician. These sectors generally tend to benefit from periods of economic expansion, lower interest rates, low unemployment, and gross domestic product (GDP) growth. The largest investments include Geo and Qurate Retail Inc, together worth $25.6 million. tips_and_updates Financial Advisor Education. When he was younger, he noticed that it took him a lot of energy to look people in the eye, and said, "If I am looking at you, that's the one time I know I won't be listening to you". ; Text is available under the Creative Commons Attribution-ShareAlike License 3.0; additional terms may . There are currently 6 companies in Mr. Burry's portfolio. What does this mean and why is it important? Does the firm offer products that have performance-based fees, or does it accept performance-based fees? Burry is betting big on the discretionary and industrial sectors, which generally benefit from economic growth. Filing Date. For example, front-running is when a financial professional buys or sell securities ahead of their client. When firms are dual-registered as broker-dealers, they may be subject to compensation-related conflicts of interest, including revenue sharing from mutual funds and the sale of proprietary investment products. Steven Romick - FPA Crescent Fund Updated 12 Jan 2023. The two most similar investment funds to Scion Asset Management are Centurylink Investment Management Co and Secrest Blakey & Associates. . These commissions may be earned from the sale of investment or insurance products and are paid by the companies providing the products being sold. It's worth noting that more than a third of Scion Asset Management's portfolio is now made up of companies in the industrial sector. What does this mean? What does this mean? Greenhaven Associates Updated 10 Jan 2023. And JD.com is in a similar situation, being 57% below its peak in February 2021. Relative to the number of outstanding shares of Geo, Scion Asset Management owns more than approximately 0.1% of the company. This means they effectively own 0.6% of the company. As of 7th November 2022, Scion Asset Management's top holding is 2,019,150 shares of Geo currently worth over $15.5 million and making up 37.6% of the portfolio value. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, This Week in Crypto: Ukraine War, Marathon Digital, FTX. Firm performs side-by-side management with accounts that have differing fee structures. As a result, we do not support personal reviews on the site. Some detractors have suggested that a cancellation of student debt would further fuel inflation that hit its highest level in decades last year. Scion Asset Management, LLC operates as an investment firm. What does this mean? 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The Scion Group announced the addition of 32 high-quality assets and approximately 20,000 beds to its portfolio of student housing communities. His solemn investing philosophy has resulted in outsized market returns over the past few years, beating the S&P 500 by a wide margin. Warren Buffett's: Berkshire Hathaway. Financial plans and investment portfolios are always unique to the client's personal financial situation. Specifically, The GEO Group has suspended its dividends, which has allowed the company to deleverage rapidly. Scion's required disclosure did not include any "short" position it held in the third quarter, nor does it show . I was damned sure I was going to pay it off.. Which securities does your firm trade for itself that it will also be recommending to me? The Servicing Digital segment offers web and mobile solutions for consumers that deliver easy access to customized, timely information about their mortgages. And it is notwater is political, and litigious. Here's how we make money. Michael Burry of Scion Asset Management. Note: 13F filing performance is different than fund performance. Scion Asset Management, LLC's top holdings are EXHIBIT C. July 28, 2019. Burry followed up his warning by detailing his own experience with student debt. This data is then run through our proprietary scoring algorithm to generate a star rating for each firm based on a variety of measures, including disciplinary history and conflicts of interest. "[6] Burry was able to achieve these returns partly by shorting overvalued tech stocks at the peak of the internet bubble. The investing legend was one of the first people to recognize the massive risk in the pre-2007 sub-prime real estate market the then unknown money manager bet over $1 billion that sub-prime would implode. Scion Asset Management Review. Scion Asset Management is a small firm focused on serving institutional investors, and pooled investment vehicles in particular. No. U.S Market Open - Market Closes in 49M 55S. [23], Burry initiated short position(s) on Tesla before or around early December 2020, according to a now-deleted tweet[24][25] and likely added to his short positions[26][27] after the market cap of Tesla surpassed that of Facebook. Portfolio manager(s) are listed as Michael Burry. The next year, 2003, the stock market finally turned around and rose 28.69%, but Burry beat it again, with returns of 50%. With headquarters in New York and offices in London and Guernsey, Sciens has been investing in real assets strategies since 2007. Financial professionals should disclose all positions they hold (or have sold short) that they will also be recommending to their clients. Grapevine, TX 76051. Scion's current portfolio consists of nearly 82,000 beds of student accommodations in 126 communities, serving 76 college and university markets across 33 U.S. states. Sure Dividend compiles the following stock market databases and updates them monthly: Thanks for reading this article. Our system found no disciplinary alerts. He quickly earned extraordinary profits for his investors. What does this mean and why is it important? Yes or Researcher and operations manager at DM Martins Research. When performance-based fees are charged, the financial advisor is paid for outperforming a benchmark, typically an index. Scion Asset Management's Portfolio - All 9 Public Equity Investments. The Company serves clients in the United States. Black Knight is a new holding for Scion Asset Management, initiated in its most recent quarterly filings. The headquarters of Scion Asset Management is 20665 4th Street, Suite 201. Is your firm affiliated with a law firm in any capacity? In addition, the fund holds 5,000,000 shares of Qurate Retail Inc worth $10.1 million, whose value fell approximately 0.1% in the past six months. Our system has identified the following conflict alerts. Follow Tweet. Scion Asset Management Q4 '22 Top Holdings (Author Spreadsheet 13F Data) Largely unrelated to one's personal attitude or opinion of Michael Burry, there are few 13F's in the industry that are more . Please provide me a list of the products and a summary of how much your firm earns from them. Our Methodology. Firm's/Financial Professional's investor.com profile pages may contain certain limited information directly provided to investor.com by the Firm/Financial Professional including, by way of example only, the Personal Bio, Certifications, and/or Investment Philosophy portions of the profile page. Demand for the companys products has remained robust lately, but inflationary pressures on the expenses side of the income statement have suppressed profitability severely. Updated 05 Jan 2023. Eventually Burry closed his fund and retired. Last year, the nonpartisan Committee for a Responsible Federal Budget found the plan will likely cost an astronomical $400-$600 billion over time. This arrangement creates a conflict where the firm and its representatives may be incentivized to insure clients with products, including annuities and life insurance, that generate high sales commissions when lower-cost alternatives may exist. [30], Burry is married, with children, and was living in Saratoga, California in 2010. This could also limit the number and diversity of investment options available and may impact their transferability. Alibaba is down 71% from its October 2020 peak. Upgrade to unlock premium data and export to Excel . How many times did it occur? What does this mean and why is this important? The Scion Asset Management founder studied at UCLA and earned his medical degree at Vanderbilt University before starting and eventually abandoning a residency at Stanford University Medical Center. Through his analysis of mortgage lending practices in 2003 and 2004, he correctly predicted that the real estate bubble would collapse as early as 2007. As a financial advisory firm, Scion Asset Management can provide a variety of financial planning services for Americans. A regulatory agency other than the SEC or CFTC has previously found the firm or an advisory affiliate responsible for having an investment-related business have its authorization to do business denied, suspended, or revoked. However, Burry is also known to take an approach that often contradicts what the broad market dictates. Note that this policy may change as the SEC manages SEC.gov to ensure that the website performs efficiently and remains available to all users. 1-Year Performance. Nevertheless, it is Dr. Burrys legendary plays prior to the Great Financial Crisis, and the massive returns that followed that pushed his name into the international spotlight. Scion Asset Management: Michael Burry: 22.59%: $46538000: 9: Top Holdings Largest Trades Portfolio Structure Sector Allocation Performance History. At the age of two he lost his left eye to retinoblastoma[3] and has had a prosthetic eye ever since. Charlie Munger - Daily Journal Corp. 100.0% So while Michael Burry's hedge fund has about $46.5 million in long positions reported in its 13F, it is likely that behind this may be another "big short." The majority of the companies in the funds portfolio are large-cap stocks. GameStop Stock: What the SEC Says About Direct Registration, Alibaba Group Holding Limited American Depositary Shares each representing eight. Precisely because he doesnt focus on a specific industry and because the essence of financial metrics shifts by industry and each companys place in the economic cycle, Dr. Burry utilizes the ratio of enterprise value (EV) to EBITDA when researching investment ideas. Stocks and cryptocurrency portfolio tracker. The company has been growing rapidly over the past few years while retaining compelling profitability levels. [17], In an April 3, 2010 op-ed for The New York Times, Burry argued that anyone who studied the financial markets carefully in 2003, 2004 and 2005 could have recognized the growing risk in the subprime markets. Details on the strike price of the puts, their value and whether they were part of a broader trade were not available. Relative to the previous quarter there was a little reshuffling of his holdings. : DE | Fiscal Year End: 1231. What does this mean and why is this important? By visiting these sites, you are subject to their terms of use (IAPD, BrokerCheck). Will anyone that was involved be involved with my accounts in any capacity? Common Stock (US:US19247G1076) financing, asset management, . Disclaimer: It is our organization's primary mission to provide reviews, commentary, and analysis that are unbiased and objective. Ranked #44 out of 483 Hedge Fund Managers. It is now the funds second-largest holding, accounting for 18.3% of its holdings. Michael J. Burry is known by most as the Big Short investor due to the eponymous movie revolving around himself and his story during the days of the Great Financial Crisis, a role played by Christian Bale. Current guidelines limit users to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests. Qualified participating firms must abide by investor.com Certification program's terms and conditions when utilizing an awarded "Trusted by investor.com" badge, as well as in connection with permitted enhancements to the firm's investor.com profile page. This typically occurs when firms manage mutual funds or hedge funds alongside smaller retail accounts. A good way to understand Burry's thinking and Scion Asset Management's . The bottom line has softened lately as a result of inflationary pressures and supply chain inefficiencies, but profits are still substantial. Founded in 2018 as an unbiased resource empowering consumers to research and compare financial advisory firms, investor.com today gives consumers the tools to make smart money decisions about credit, retirement planning, and more. JD.com, Inc. (US:JD) The GEO Group Inc (US:GEO) The investment fund also strengthened its position in Geo by buying SCION ASSET MANAGEMENT, LLC | 2,358 followers on LinkedIn. Eventually, Burry's analysis proved correct: He made a personal profit of $100 million and a profit for his remaining investors of more than $700 million. The holding were 650,000 shares as of 2021-03-31. [6], According to his website, Burry liquidated his credit default swap short positions by April 2008 and did not benefit from the bailouts of 2008 and 2009. Nothing on this website constitutes, or is meant to constitute, advice of any kind. Will His AI Plans Be Any Different? '[26] In May 2021, it was reported that he held puts on over 800,000 shares of Tesla. But critics have aired various concerns about Bidens plan, such as whether his executive order oversteps the presidents authority.