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. [29] During the second quarter of 2021, he has reported to hold puts on almost 31 million dollars on the ARKK ETF innovation index managed by Ark Invest. Michael Burry of Scion Asset Management. He famously bet against the real estate market in 2008 which is documented in the movie "The Big Short", based on the best-selling book by Michael Lewis. Financial advisors help you achieve your life goals, such as saving for retirement, by creating a comprehensive financial plan and managing your investment portfolio (e.g., stocks, ETFs, mutual funds, bonds). Execute maintenance objectives and daily assignments with the Facilities Supervisor. So is Burry less bearish on the U.S. economy than he was last year? The holding were 650,000 shares as of 2021-03-31. '[26] In May 2021, it was reported that he held puts on over 800,000 shares of Tesla. 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. [5][6][7], He studied economics and pre-med at the University of California, Los Angeles, earned an MD degree from the Vanderbilt University School of Medicine,[6] and started but did not finish his residency[8] in pathology at Stanford University Medical Center. We reserve the right to block IP addresses that submit excessive requests. has disclosed 9 total holdings in their latest SEC filings. Michael Burry of Scion Asset Management liquidated his entire investment portfolio in the second-quarter, according to the latest 13F holdings report. Is your firm affiliated with a law firm in any capacity? Scion Asset Management fund manager Michael Burry, who rose to fame with timely bets against housing ahead of the 2008 financial crisis, in the last quarter dumped a dozen bullish positions and . We know that he's recently bought big on Geo Group (), despite its less-than-stellar performance of late.However, his other picks might surprise you. The stocks valuation has been compressed to a very low forward P/E ratio of about 10.4X, primarily because investors have been ditching Chinese equities due to the ongoing geopolitical risks involved. 100.0% According to author Michael Lewis, "in his first full year, 2001, the S&P 500 fell 11.88%. Black Knight Inc (US:BKI) Top 50 Scion Asset Management Holdings . At 06/30/2022: $3,309. 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. Any data inaccuracies, please contact our team. The fund's top five holdings, which we analyze below, account for 72.2% of its total public . Our system has identified the following conflict alerts. Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens. Scion Asset Management's public equity portfolio is heavily concentrated. How does your firm mitigate conflicts that arise from managing accounts with differing fee structures? Burry predicted, "Fed will cut and government will stimulate. However, he has re-established a stake in the company as shares plunged, now owning around 3.05% of the company with approximately 3 million shares. His analysis resulted in him shorting the market by convincing Goldman Sachs and other investment firms to sell him credit default swaps against subprime deals he saw as weak. SCION ASSET MANAGEMENT, LLC is a financial services company based out of 20400 STEVENS CREEK BOULEVARD, CUPERTINO, California, United States. Scion Asset Management is an investment fund managing more than $41.3 million ran by Michael Burry. That said, the company has navigated these challenges quite competently, which, combined with its deep-value characteristics, explained why Dr. Burry has bet heavily on The GEO Group. John Rogers - Ariel Appreciation Fund Updated 11 Jan 2023. Burry, whose successful bet against subprime mortgages were famously chronicled in the 2015 film The Big Short, delivered the dire forecast as the Supreme Court hears arguments this week on whether President Biden has the authority to cancel student debt. Filing Date. Firm or an advisory affiliate was previously found to have made false statements or omissions by the SEC or CFTC. Particularly, in 2005, Dr. Burry started to concentrate on the subprime market. What does this mean? Financial plans and investment portfolios are always unique to the client's personal financial situation. Michael Burry's Scion Asset Management jettisoned 11 US equities in the second quarter and ended the period with just one. Apply for Trusted badge. On the other hand, small-cap stocks make up only approximately 0.1% of the portfolio. Charlie Munger - Daily Journal Corp. [21] In August 2019, Bloomberg News quoted an email from Burry where he said there was a bubble in large US company stocks due to the popularity of passive investing, which "has orphaned smaller value-type securities globally". How do we make money? This form was filed on 2023-02-14 for the reporting period 2022-12-31. Chase Coleman's: Tiger Global Management. 18951. What does this mean and why is this important? Portfolio manager(s) are listed as Michael Burry. T. Black Knight offers blended software, data, and analytics solutions all over the globe. Stocks with a size of more than $10 billion in market cap make up [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]. Scion Asset Management 13F annual report. What does this mean? The S&P 500, widely regarded as the benchmark for the US market, returned just under 3%, including dividends over the same period. Additionally, the company has been utilizing loopholes through third parties, which essentially still allows it to deal with federal agencies. Last year, the nonpartisan Committee for a Responsible Federal Budget found the plan will likely cost an astronomical $400-$600 billion over time. Common Stock (US:US19247G1076) Black Knight is a new holding for Scion Asset Management, initiated in its most recent quarterly filings. The largest investments include Geo and Qurate Retail Inc, together worth $25.6 million. The company is currently facing heavy challenges, including all major banks cutting ties with private prisons and President. With respect to such information, investor.com cannot and does not independently verify, audit, validate, assess or guarantee the adequacy, accuracy, or completeness of such information; such information is not included or otherwise incorporated within investor.com's Trust Score algorithm or review process. If you require advice in relation to any financial matter you should consult an appropriate professional. Burry has amassed more than 1.4 million followers on Twitter, where he frequently tweets and then deletes his predictions about the US economy. Relative to the number of outstanding shares of Geo, Scion Asset Management owns more than approximately 0.1% of the company. And JD.com is in a similar situation, being 57% below its peak in February 2021. Scion Asset Management manages $291.7 million and provides investment advisory services for 4 clients (1 advisor/client ratio). Founded in 2013, Scion Asset Management is a multi-strategy hedge fund manager based in Saratoga, California. SCION ASSET MANAGEMENT, LLC ( CRD # 167772/SEC#:801-113529 ) The adviser's REGISTRATION status is listed below. Northport Investment Management, Albatross Investment Services, Lynn H. ORR Capital Management Group, Level Partners Management, Allvestments, Was this helpful? This Supreme Court Case Could Redefine Crime, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, No Major Offer Expected on Childcare in UK Budget, Biden Gives Medal of Honor to Trailblazing Special Forces Member, Oils $128 Billion Handout as Doubts Grow About Fossil Fuels, Climate Change Is Launching a MutantSeed Space Race, This Former Factory Is Now New Taipeis Edgiest Project, What Do You Want to See in a Covid Memorial? Note: We do not offer technical support for developing or debugging scripted downloading processes. Burry predicted Tesla stock would collapse like the housing bubble,[27] saying that "my last Big Short got bigger and Bigger and BIGGER" and taunted Tesla bulls to 'enjoy it while it lasts. 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." He quickly earned extraordinary profits for his investors. 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. : 000000000 | State of Incorp. Several times last year, Burry predicted a stock market crash by betting that inflation would not give way. While this can be seen as "eating your own cooking," there are conflicts that may arise. Published on February 27th, 2023 by Nikolaos Sismanis. Under Bidens plan, the federal government would forgive up to $20,000 in student loans per borrower, depending on their income-based eligibility. [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. Here's what investors need to know about Michael Burry's long positions. Terms of Use | Disclaimers | Privacy Policy. As a Certified B Corporation, our focus is simple: people before profits. Firm is affiliated with an insurance company or agent who may be motivated to insure clients with products that generate high sales commissions when lower cost alternatives may exist. Firm or an advisory affiliate has previously had an investment-related civil action dismissed against them following a cash settlement in court. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Thanks for contacting us. of the fund's Consumer Discretionary sector allocation and has decreased its share price by approximately 0.1% in the past year. By using this site, you are agreeing to security monitoring and auditing. Limited offerings: Scion Asset Management isnt an advisory firm as much as it is an asset management company. Perform physically demanding work to maintain the asset, and other property features to minimize liability concerns. Furthermore, Burry has predicted a vicious cycle in which the Fed raises interest rates to a level not seen since the 2008 crisis. 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. [6] Scion Capital ultimately recorded returns of 489.34% (net of fees and expenses) between its November 1, 2000 inception and June 2008. Specifically, The GEO Group has suspended its dividends, which has allowed the company to deleverage rapidly. Verition Fund Management LLC increased its holdings in shares of ScION Tech Growth II (NASDAQ:SCOB - Get Rating) by 153.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). Qurate Retail Inc and bought 5,000,000 shares worth $10.1 million. Our partners compensate us through paid advertising. We use the change in the portfolio allocation because this is the most meaningful metric. 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. In that case, interest rates would pivot and rates would be cut while the government would announce a stimulus package to help households suffering from a failing economy. 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). Since Jun 2013. Michael Burry is likely betting on Wolverine as a distressed equity play, as the companys sales are still more than twice its current market cap. Red rows indicate closed positions. To see the historical data of Scion Asset Management's portfolio holdings please click on the "2022 Q4" dropdown menu and select the date. [22] In 2020, the fund's largest investments were Alphabet Inc. ($121 million value) and Facebook ($24.4 million value). They manage Scion Asset Management, LLC has disclosed 9 total holdings in their latest SEC filings. 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. See the articles below for analysis on other major investment firms/asset managers/gurus: If you are interested in finding more high-quality dividend growth stocks suitable for long-term investment, the following Sure Dividend databases will be useful: The major domestic stock market indices are another solid resource for finding investment ideas. Common Stock (US:US19247G1076) That would put the U.S. in a recession under "any definition.". [] They contribute around 66%, 13%, 11 and 9% of total revenues, respectively. Checks take place monthly. The firm's asset exposure includes equities, derivatives, and fixed income instruments. Unauthorized attempts to upload information and/or change information on any portion of this site are strictly prohibited and are subject to prosecution under the Computer Fraud and Abuse Act of 1986 and the National Information Infrastructure Protection Act of 1996 (see Title 18 U.S.C. 2022-07-28: Important Note - We have changed the treatment of the, LILAK / Liberty Latin America Ltd Class C. He had already built a reputation as an investor at the time by exhibiting success in value investing. Scion Asset Management, LLC's top holdings are Steven Romick - FPA Crescent Fund Updated 12 Jan 2023. 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 . Coherent Corp. produces and manufactures, and sells engineered materials, optoelectronic components, and devices internationally. BBBY has plummeted by more than 95% from its 2021 peak to below $2 a share today . [32], Burry was highly critical of the lockdowns during the COVID-19 pandemic in the United States.[33]. Scion Asset Management, LLC (Filer) CIK: 0001649339 (see all company filings) IRS No. We've received your submission. This page was last edited on 1 February 2023, at 20:47 (UTC). [19] He has focused much of his attention on investing in water, gold, and farm land. 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. [30], Burry is married, with children, and was living in Saratoga, California in 2010. Burry has a strictly traditional understanding of value. Read through our introductory course to financial advisors. A quarter of the portfolio is made up of consumer discretionary companies. As a result, the company will soon be able to self-fund its growth and overall operations. The SEC or CFTC has found firm or an advisory affiliate to have been involved in a violation of its rules. Finally, the Loss Mitigation segment develops solutions that support retention and liquidation workouts. Scion Asset Management, LLC operates as an investment firm. Nothing on this website constitutes, or is meant to constitute, advice of any kind. The Scion Asset Management manager revealed the purchase of seven new stocks in the last quarter. The following data is gathered from Scion Asset Management's latest 13F filing with the SEC for the reporting period of September 30, 2022. , The investor's firm, Scion Asset Management, held bearish put options on over 800,000 shares of Elon Musk's . In his words: All my stock picking is 100% based on the concept of a margin of safety.. A good way to understand Burry's thinking and Scion Asset Management's . Firm or a related person trades securities for themselves that they also recommend to their clients. Relative to the number of outstanding shares of Geo, Scion Asset Management owns more than approximately 0.1% of the company. What does this mean and why is it important? 340.15% 5-Year Performance. 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. 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. What does this mean? By Steve Burns. . According to the latest 13F filing from famed investor Michael J. Burry's Scion Asset Management, the hedge fund has added seven new stocks to its portfolio. While Scion Asset Management advises clients across a variety of portfolio sizes, the average client balance is currently $72.9 million. 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All Rights Reserved, King of debt Joe Biden absurdly labels himself a deficit hawk, Teacher Randi Weingartens ignorant, anti-democratic rant, Bidens Ohio failure: Letters to the Editor March 2, 2023, Randi Weingarten has maniacal meltdown at student debt relief rally. Scion Asset Management LLC holdings changes, total fund size, and other information presented on HoldingsChannel.com was derived from Scion Asset Management LLC 13F filings. and Currently, their heaviest sector is Real Estate making up 53.2% of Back on April 10, 2020, Michael Burry, who gained fame as a major character in the book and movie The Big Short, filed a 13D on Gamestop Inc. (GME) disclosing that his fund Scion Asset Management, LLC owned 5.3% of GME's outstanding shares. Scion Asset Management General Information. Scion Asset Management Holdings Heatmap . Michael Burry . Why does your firm believe in offering commission-based services to clients? And we could be headed for another recession. Questions to ask [18] He faulted federal regulators for failing to listen to warnings from outside a closed circle of advisors. The firm prefers to employ long/short, market neutral, and activist strategies. Firm or an advisory affiliate was previously found to have made false statements, omissions, or being dishonest and unfair by a regulatory agency other than the SEC or CFTC. Currently tracking portfolios of 77 superinvestors. He has warned a severe recession on several occasions over the last year. Lets not forget that the student debt problem is built on a foundation of terrible major choices.Bailing generations out of those bad choices will mean more bad choices, tuition hikes, and terrible consequences for America. [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. Geo dropped approximately 0.1% in the past year. In fact, Dr. Burry had showcased such great stock-picking skills that he drew the interest of companies such as Vanguard, White Mountains Insurance Group, and renowned investors such as Joel Greenblatt. The total portfolio value may be much higher due to cash For more information, contact opendata@sec.gov. What does this mean? 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. Black Knight is a new holding for Scion Asset Management, initiated in its most recent quarterly filings. Disclaimer: It is our organization's primary mission to provide reviews, commentary, and analysis that are unbiased and objective. Firm can legally elect to accept commissions for their investment advisory services. Burry's Scion Asset Management bought 2,355 put contracts against the red-hot tech ETF during the second quarter and held them through the end of the period. , When I left residency at Stanford to gamble my future on what was to become, I had well into six figures of educational debt. The average market cap of the portfolio companies is close to $2.02 billion. After attending medical school, Dr. Burry left to start his own hedge fund in 2000. By the end of 2004, he was managing $600 million and turning money away. For further detail, see our articles on different types of advisors and financial advisor services. Bill Ackman's: Pershing Square Capital Management. Portfolio Gain +257.56%. He looks for investments in undervalued companies with strong long-term prospects. To file a complaint or dispute with this firm, please fill out the SEC Investor Complaint Form. What does this mean? It charges an asset-based management fee that can be as high as 2% per year, while it may also take up to 20% of the value of the appreciation from each clients account. The GEO Group is a specialty REIT that owns, operates, and manages correctional, detention, and reentry facilities in the US, UK, South Africa, and Australia. Here's how we make money. If a user or application submits more than 10 requests per second, further requests from the IP address(es) may be limited for a brief period. Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. Designer and entrepreneur Melody Ehsani takes us on a journey from her early days working retail, to designing her first shoes and jewelry lines, to collaborating with Red Hot Chili Peppers and Jordan brand before taking on a bespoke role at Foot Locker. For comparison, the S&P 500 ETF (SPY) generated annualized total returns of 7.5% over the same time period. Actual Assets Under Management (AUM) is this value plus cash (which is not disclosed). Burry is betting big on the discretionary and industrial sectors, which generally benefit from economic growth. Scion Asset Management manages $291.7 million and provides investment advisory services for 4 clients (1 advisor/client ratio). Michael James Burry (/bri/; born June 19, 1971)[2] is an American investor, hedge fund manager, and physician. In the past ten years, a regulatory agency other than the SEC or CFTC has previously entered an order against this firm or an advisory affiliate in connection with an investment-related activity. Hedge funds are required to report only their long positions, not their short positions. What does this mean? Firm is a broker-dealer, or is affiliated with one, and may be subject to compensation-related conflicts of interest. Firm offers mutual funds that carry 12b-1 fees, which increases the total annual cost of owning the fund (with no guarantee of higher returns). The investment fund's only holding now is The . Scion Asset Managements portfolio is diversified across 5 sectors. Bailing generations out of those bad choices will mean more bad choices, tuition hikes, and terrible consequences for America, he added. GameStop Corp. 625 Westport Parkway. Scion Asset Management, LLC is a private investment firm founded and led by Dr. Michael J. Burry Portfolio 9 Options 0 Performance. Does your firm offer mutual funds that have 12b-1 fees? 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. Primary Business Name: SCION ASSET MANAGEMENT, LLC CRD Number: 167772 Other-Than-Annual Amendment - All Sections Rev. 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. Each month, investor.com helps thousands of Americans answer the question, "Can I trust you?". | Investormint", "EDGAR Filing Documents for 0001567619-19-004198", The Big Shorts Michael Burry Sees a Bubble in Passive Investing, "Michael Burry Portfolio / Scion Asset Management, LLC Holdings", "Michael Burry tweet, Dec. 1, 2020 (Internet Archive)", "Michael Burry of 'The Big Short' reveals a $530 million bet against Tesla", "Michael Burry of 'Big Short' Bets Against Cathie Wood's ARKK", "Author Michael Lewis on Wall Street's Delusion", "Legendary Investor Leaves Twitter, Lists 8 Metal Bands in Bio", "Where 'The Big Short's Michael Burry Is Today", "Michael Burry: Subprime Short-Seller No. What conflicts arise from this relationship? Firms having met these requirements may further elect to participate in the investor.com Certification program for an annual fee paid to investor.com. Based in Saratoga, Calif., Scion has just six employees, two of whom . Scion Asset Management is a small firm focused on serving institutional investors, and pooled investment vehicles in particular. As a result, unlike hedge funds, there is no historical performance for any financial advisory firm. [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. Please see our General Disclaimers for more information. He had already developed a reputation as an investor by demonstrating success in value investing, which he wrote about on message boards on the stock discussion site Silicon Investor beginning in 1996. To see Scion Asset Management's original 13F reports (2022 Q4), please click on the "important" button. Should I Hire a Financial Advisor or DIY It? What does this mean and why is this important? Point72 Asset Management . Saratoga, CA 95070, 30 Burton Hills Blvd Suite 315, Nashville, Tennessee 37215. What does this mean and why is it important? Questions to ask The firm owned 95,150 shares of the company's stock after purchasing an additional 57,650 shares during the period. [9] While off duty at night, he worked on his hobby: financial investing. What does this mean? 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. Ray Dalio's: Bridgewater Associates. See how we calculate 13F filing performance here. The companys operating income can be divided into three segments: US Secure Services, Electronic Monitoring and Supervision Services, Reentry Services, and International Services. [9] His son was diagnosed with Asperger syndrome, and Burry believes he himself has Asperger syndrome after reading about the disorder. Our searchable database of U.S.-based financial advisors includes more than 17,000 firms across the country. Link to 13F filings: SEC filings. Why Didn't the Fed? The advisory also believes in using fundamental analysis methods to assess . Sensitive information sent over an HTTP connection can easily be eavesdropped on by third-parties. I cover the recent 13F filings and the logic behind Michael Burry's po. See the Top Performing Hedge-Funds > Michael Burry . MGM Resorts International (US:MGM) These conflicts can negatively impact clients via hidden fees and overall higher costs. FINRA data last verified February 17, 2023. Burry followed up his warning by detailing his own experience with student debt. Our system found no disciplinary alerts. In January, Burry made predictions for an economic downturn in 2023. Co-producer of The Street's financial channels: Apple Maven, Amazon Maven and Wall Street Memes. Dr. Michael Burry of Scion Asset Management and of The Big Short fame has recently re-surfaced in shares of Gamestop (GME). Scion Asset Management, LLC Holdings. Scion Asset Management Holdings Heatmap . Firms that receive soft-dollar benefits could be incentivized to push trades through broker-dealers that provide advantages to the firm instead of through broker-dealers that could provide the best execution for their clients. Burry's Scion Asset Management said in a regulatory filing in mid-May it had put options on 800,100 Tesla shares as of the end of the first quarter. In early January, he posted to his Twitter account that inflation had "peaked," but that this would not be the last peak of the cycle.