decreased its share price by approximately 0.1%, Geo total 2,019,150 shares worth $15.5 million. Bloomberg's Alix Steel and Paul Sweeney harness the power of Bloomberg Intelligence to provide in-depth research and data on more than 2,000 companies and 130 industries. "[6] Burry was able to achieve these returns partly by shorting overvalued tech stocks at the peak of the internet bubble. The firm doesn't work with individual investors, although individuals may invest in the funds for which it provides investment advisory services. Burry has amassed more than 1.4 million followers on Twitter, where he frequently tweets and then deletes his predictions about the US economy. Scion Asset Management, LLC Portfolio Never miss a trade. 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. This typically occurs when firms manage mutual funds or hedge funds alongside smaller retail accounts. 408-441-8400 Five years later in 2013 Michael Burry reopened his fund with slightly changed name Scion Asset Management. Why doesnt your firm use a secure website? 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). By visiting these sites, you are subject to their terms of use (IAPD, BrokerCheck). He quickly earned extraordinary profits for his investors. Several times last year, Burry predicted a stock market crash by betting that inflation would not give way. 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 . What does this mean? 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. Dr. Burry trimmed Scions position in The GEO Group by 47%, with the fund now owning around 0.85% of the companys outstanding shares. Side-by-side management can create an incentive for the advisor to favor the larger funds, potentially leading to unequal trading costs and unfavorable trade executions for their clients. For more information, please see the SECs Web Site Privacy and Security Policy. What does this mean and why is it important? He founded the hedge fund Scion Capital, which he ran from 2000 until 2008 before closing it to focus on his personal investments. In the past ten years, firm or an advisory affiliate has been convicted of or pled guilty or nolo contendere ("no contest") in a domestic, foreign, or military court to a felony. Published on February 27th, 2023 by Nikolaos Sismanis. 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. See the Top Performing Hedge-Funds > Michael Burry . The conservative-majority Supreme Court appeared skeptical of Bidens plan during hearings this week, raising doubts about the likelihood it will receive final approval. Relative to the number of outstanding shares of Geo, Scion Asset Management owns more than approximately 0.1% of the company. To ensure our website performs well for all users, the SEC monitors the frequency of requests for SEC.gov content to ensure automated searches do not impact the ability of others to access SEC.gov content. There are currently 6 companies in Mr. Burry's portfolio. He has said, "Fresh, clean water cannot be taken for granted. As a consumer advocacy project, investor.com does not charge any licensing fees for earned state accolade badges. 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. Firm or an affiliate actively engages in business as a law firm or lawyer. Will anyone that was involved be involved with my accounts in any capacity? "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. While Scion Asset Management advises clients across a variety of portfolio sizes, the average client balance is currently $72.9 million. BBBY has plummeted by more than 95% from its 2021 peak to below $2 a share today . 66.7% of the portfolio companies Burry followed up his warning by detailing his own experience with student debt. [30], Burry is married, with children, and was living in Saratoga, California in 2010. Limited offerings: Scion Asset Management isnt an advisory firm as much as it is an asset management company. financing, asset management, . Wolverine World Wide, Inc. (US:WWW) Currently, Scion Asset Management's portfolio is worth at least $41.3 million. Each month, the investor.com Trust algorithm downloads the latest regulatory data from the SEC IAPD database. The funds top five holdings, which we analyze below, account for 72.2% of its total public equity exposure. Bruce Berkowitz's: Fairholme Capital Management. In Michael Burry's current portfolio as of 2022-12-31, the top 5 holdings are The GEO Group Inc (GEO), Black Knight Inc . The Board of Directors. Sciens Capital Management Sciens Capital Management LLC is an alternative asset management firm founded in 1994. in 2008. Michael Burry's Scion Asset Management jettisoned 11 US equities in the second quarter and ended the period with just one. 2023 NYP Holdings, Inc. 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. Company profile page for Scion Asset Management LLC including stock price, company news, press releases, executives, board members, and contact information By using this site, you are agreeing to security monitoring and auditing. Portfolio manager(s) are listed as Michael Burry. He is best known for being amongst the first investors to predict and profit from the subprime mortgage crisis that occurred between 2007 and 2010. 1001 and 1030). The current portfolio value is calculated to be $47.00 Mil. Scion Asset Management a Portfolio Activity as reported in the most recent 13F form published on Dec 31, 2022. Charlie Munger - Daily Journal Corp. Additionally, the company has been utilizing loopholes through third parties, which essentially still allows it to deal with federal agencies. What does this mean and why is it important? Portfolio Gain +257.56%. What does this mean and why is it important? [17] He subsequently liquidated his company to focus on his personal investments. There are 3 companies that go by the name of Scion Asset Management, LLC. Specifically, his picks were published on message boards on the stock discussion site Silicon Investor back in 1996, with their returns being outstanding! , Bailing generations out of those bad choices will mean more bad choices, tuition hikes, and terrible consequences for America, he added. Written by investor.com. T. Black Knight offers blended software, data, and analytics solutions all over the globe. Researcher and operations manager at DM Martins Research. 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. These companies are located in Dover DE, Madison WI, and Saratoga CA. How does your firm mitigate conflicts that arise from managing accounts with differing fee structures? Why has Burry, who is bearish on the . Northport Investment Management, Albatross Investment Services, Lynn H. ORR Capital Management Group, Level Partners Management, Allvestments, Was this helpful? Dr. Burry does not differentiate between small-caps, mid-caps, tech stocks, or non-tech stocks. 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. [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. [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. of the fund's Consumer Discretionary sector allocation and has decreased its share price by approximately 0.1% in the past year. Advertiser Disclosure: StockBrokers.com helps investors across the globe by spending over 1,000 hours each year testing and researching online brokers. Which securities does your firm trade for itself that it will also be recommending to me? As a Certified B Corporation, our focus is simple: people before profits. As InvestorPlace's Eddie Pan reported on Aug. 15, Burry's firm Scion Asset Management has sold all of its U.S.-listed positions except for one GEO. Questions to ask Particularly, in 2005, Dr. Burry started to concentrate on the subprime market. To allow for equitable access to all users, SEC reserves the right to limit requests originating from undeclared automated tools. A Self-Regulatory Organization 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. Scion Asset Management. The Company serves clients in the United States. So is Burry less bearish on the U.S. economy than he was last year? U.S Market Open - Market Closes in 49M 55S. 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. '[26] In May 2021, it was reported that he held puts on over 800,000 shares of Tesla. Data is sourced from 13D/13G, 13F, and N-Q filings. The next year, 2003, the stock market finally turned around and rose 28.69%, but Burry beat it again, with returns of 50%. While many fund managers and successful investors such as Cathie Wood are talking about their ideas several times a week in the news, Burry is more quiet. Growth has also been smooth for the company due to the recurring nature of its business model. Primary Business Name: SCION ASSET MANAGEMENT, LLC CRD Number: 167772 Other-Than-Annual Amendment - All Sections Rev. Will any of my assets be invested in those products? A domestic or foreign court has previously found firm or an advisory affiliate was involved in a violation of investment-related statutes or regulations. [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]. Firms having met these requirements may further elect to participate in the investor.com Certification program for an annual fee paid to investor.com. The investment fund also strengthened its position in Geo by buying Nevertheless, most stocks in the fund seem to be bearing their fair share of risks. Black Knight is a new holding for Scion Asset Management, initiated in its most recent quarterly filings. In total, Scion Asset Management manages $291.7 million in assets. The fund's top five holdings, which we analyze below, account for 72.2% of its total public . Specifically, the company repurchased nearly $9.7 billion worth of stock last year. Scion Asset Management Review. The Form 13F report requires disclosure of the manager that files the report, the name and class of the security, the CUSIP number, the number of . Wolverine World Wide designs, produces, and distributes footwear, apparel, and other accessories globally. They manage Michael Burry's hedge fund's other holdings consist of: In general, Michael Burry's investment philosophy is based on fundamental analysis. This situation may lead the firm or a related person to recommend proprietary investments and products that could generate larger commissions than other similar non-proprietary products. and Link to 13F filings: SEC filings. 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. He then left to start his own hedge fund. The fund only has four clients. , The investment fund's only holding now is The . Stock Company Name % of Portfolio Shares Owned Value Change in Shares Ownership History , and What does this mean? This means they effectively own 0.6% of the company. For security purposes, and to ensure that the public service remains available to users, this government computer system employs programs to monitor network traffic to identify unauthorized attempts to upload or change information or to otherwise cause damage, including attempts to deny service to users. He only looks for their undervalued elements, regardless of their sector and class. Mailing Address 20665 4TH STREET SUITE 201 SARATOGA CA 95070. Business Address 20665 4TH STREET SUITE 201 SARATOGA CA 95070 408-441-8400. He looks for investments in undervalued companies with strong long-term prospects. Thanks for supporting the Wall Street Memes). The GEO Group Inc (US:GEO) The company has been growing rapidly over the past few years while retaining compelling profitability levels. How do these benefits affect the firms selection of a broker-dealer partner? , Scion Asset Management: Michael Burry: 22.59%: $46538000: 9: Top Holdings Largest Trades Portfolio Structure Sector Allocation Performance History. Scion Asset Management is an investment fund managing more than $41.3 million ran by Michael Burry. What does this mean? And we could be headed for another recession. Thus, be mindful and conduct your own research before allocating your hard-earned money to any of these names. Questions to ask [19] He has focused much of his attention on investing in water, gold, and farm land. Last year was a turbulent one for China, marked by strict lockdowns and geopolitical and regulatory turmoil. Ray Dalio's: Bridgewater Associates. Why does your firm believe in offering commission-based services to clients? Firm or an advisory affiliate was previously found to have made false statements or omissions by the SEC or CFTC. While this can be seen as "eating your own cooking," there are conflicts that may arise. [9] While off duty at night, he worked on his hobby: financial investing. "[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. What does this mean? Actual Assets Under Management (AUM) is this value plus cash (which is not disclosed). Reference ID: 0.35841402.1677949840.1dcfc4e. What conflicts do I need to be made aware of? Scion Asset Management General Information. Saratoga, CA 95070. : DE | Fiscal Year End: 1231. What does this mean and why is it important? 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. "[12], After shutting down his website in November 2000, Burry started the hedge fund Scion Capital, funded by an inheritance and loans from his family. Should I Hire a Financial Advisor or DIY It? He became famous when he was played by Christian Bale in the blockbuster movie 'The Big Short' based on the best selling book by author Michael Lewis.Dr. 1,517,790 additional shares. More than 90% of the beds are located in the US. According to the last 13-F report filed with the SEC, Michael Burry serves as the Chief Executive Officer at Scion Asset Management. Sciens launched the Sciens Water Opportunities Fund in 2018 to make investments in the U.S. water sector. Fintel is a registered trademark. 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. compensation-related conflicts of interest, Types of Financial Advisors and How to Choose, What's a Fiduciary (and Why It Matters So Much). 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. It would appear that Burry is betting that China will rebound. The portfolio is made up of a total of 102 facilities, including 82,000 beds. 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. 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. The SEC or CFTC has previously entered an order against this firm or an advisory affiliate in connection with an investment-related activity. When performance-based fees are charged, the financial advisor is paid for outperforming a benchmark, typically an index. SCION ASSET MANAGEMENT LLC Institutional Portfolio | Nasdaq. Changes can be due to trades or changes in share prices. 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. 20665 4th Street, Suite 201. Please send any feedback, corrections, or questions to support@suredividend.com. After attending medical school, Dr. Burry left to start his own hedge fund in 2000. As a result, the company will soon be able to self-fund its growth and overall operations. Scion Asset Management, LLC's top holdings are Visit Site, Is this your firm? Top 50 Scion Asset Management Holdings . 2021-08-16. CALIFORNIA LIMITED-LIABILITY COMPANY - OUT OF STATE. FINRA data last verified February 17, 2023. Scion Asset Management, LLC's new positions include Please declare your traffic by updating your user agent to include company specific information. 223.17% 10-Year Performance. Scion Asset Management feels strongly about Neophotonics Corp and that is the reason they have added about 300000 shares of the firm to their fund. A quarter of the portfolio is made up of consumer discretionary companies. These partnerships do not influence editorial content. The average market cap of the portfolio companies is close to $2.02 billion. This page shows a list of all the recent 13F filings made by Scion Asset Management, LLC. By Steve Burns. While Scion Asset Managements portfolio lacks diversification, its holdings come with characteristics that reflect Dr. Burrys principles. Firm performs side-by-side management with accounts that have differing fee structures. tips_and_updates Financial Advisor Education. 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. 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. This means they effectively own 0.6% of the company. Also, the article may contain affiliate links. 2015-2023 Fintel Ventures LLC. Relative to the previous quarter there was a little reshuffling of his holdings. Filing Date. Michael Burry is head of Scion Asset Management. Private prison giants The GEO Group accounts for 20.4% of Scion Assets management public equity holdings. Michael James Burry (/bri/; born June 19, 1971)[2] is an American investor, hedge fund manager, and physician. These conflicts can negatively impact clients via hidden fees and overall higher costs. the total portfolio value. GameStop Stock: What the SEC Says About Direct Registration, Alibaba Group Holding Limited American Depositary Shares each representing eight. The turnover rate is 70%. , These filings are called "notice filings". Michael Burry shed light on his bet against Tesla in a regulatory filing on Monday. Scion Asset Management manages $291.7 million and provides investment advisory services for 4 clients (1 advisor/client ratio). Stocks and cryptocurrency portfolio tracker. 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. The Servicing Digital segment offers web and mobile solutions for consumers that deliver easy access to customized, timely information about their mortgages. Unlike HTTPS connections, HTTP connections are not encrypted. 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. This makes their stake in Geo total 2,019,150 shares worth $15.5 million. are based in the United States. The SEC or CFTC has found firm or an advisory affiliate to have been involved in a violation of its rules. Sensitive information sent over an HTTP connection can easily be eavesdropped on by third-parties. Firm or a related person recommends the purchase of securities where the firm or a related person serves as an underwriter or general or managing partner. 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. Here's how we make money. What does this mean? Burry's trade that made him a legend was when he used derivatives to bet on a real estate market crash in 2008 which made him . Is your firm a broker-dealer or are you affiliated with one? Black Knight Inc (US:BKI) 1,", "A Primer on Scion Capitals Subprime Mortgage Short", "Scion Asset Management - Quarterly Holdings Reports", https://en.wikipedia.org/w/index.php?title=Michael_Burry&oldid=1136913298, University of California, Los Angeles alumni, Vanderbilt University School of Medicine alumni, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 1 February 2023, at 20:47. With headquarters in New York and offices in London and Guernsey, Sciens has been investing in real assets strategies since 2007. I was damned sure I was going to pay it off. 340.42% 1Y 3Y 5Y 10Y. 100.0% Dr. Michael Burry of Scion Asset Management and of The Big Short fame has recently re-surfaced in shares of Gamestop (GME). Firm or one of its employees previously has been subject to a suspension or expulsion or other restriction of activities by a Self-Regulating Organization or commodities exchange. Lets not forget that the student debt problem is built on a foundation of terrible major choices, Burry, 51, tweeted on Tuesday. Form 13F is required to be filed within 45 days of the end of a calendar quarter. Our system found no disciplinary alerts. The Scion Group announced the addition of 32 high-quality assets and approximately 20,000 beds to its portfolio of student housing communities. What does this mean? Steven Cohen's: Point72 Asset Management. Accordingly, he disregards price-to-earnings ratios to dodge being deceived by a companys stated metrics. Thank you for your interest in the U.S. Securities and Exchange Commission. Our team combines decades of experience in all aspects of campus housing: residential life administration, real estate finance, program and asset management, plus practical knowledge from the ownership . 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. I cover the recent 13F filings and the logic behind Michael Burry's po. According to author Michael Lewis, "in his first full year, 2001, the S&P 500 fell 11.88%. All Scion Asset Management, LLC holdings are listed in the following tables. 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. He named it after Terry Brooks' The Scions of Shannara (1990), one of his favorite novels. After medical school, Burry worked as a Stanford Hospital neurology resident, then a Stanford Hospital pathology resident. Ultimately, Burrys analysis proved right. Michael Burry recently added seven new stocks to his hedge fund, Scion Asset Management, including Chinese e-commerce companies Alibaba and JD.com and technology firm Black Knight. Dr. Burry 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%. Scion Asset Management, LLC initiated holding in Lumen Technologies Inc. JD.com, Inc. (US:JD) Any data inaccuracies, please contact our team. Top 50 Scion Asset Management Holdings . These sectors generally tend to benefit from periods of economic expansion, lower interest rates, low unemployment, and gross domestic product (GDP) growth. The two most similar investment funds to Scion Asset Management are Centurylink Investment Management Co and Secrest Blakey & Associates. Operating as an online business, this site may be compensated through third party advertisers. In the past ten years, firm or an advisory affiliate has been convicted of or pled guilty or nolo contendere ("no contest") in a domestic, foreign, or military court to a misdemeanor involving: investments or an investment-related business, or any fraud, false statements, or omissions, wrongful taking of property, bribery, perjury, forgery, counterfeiting, extortion, or a conspiracy to commit any of these offenses. , Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. The next year, the S&P 500 fell again, by 22.1%, and Scion was up again: 16%. Scion has $638,901,404 assets under management (AUM). The Scion Asset Management office and employees reside in Saratoga, California. We use the change in the portfolio allocation because this is the most meaningful metric. In the most recent 13F filing, Scion Asset Management revealed that it had opened a new position in 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. Scion Asset Management Holdings Heatmap . And we will have another inflation spike. Scion Asset Management, registered in 2018, serves 2 state(s) with a licensed staff of 4 advisors. 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. Scion's new purchases consist of . Details on the strike price of the puts, their value and whether they were part of a broader trade were not available. [22] In 2020, the fund's largest investments were Alphabet Inc. ($121 million value) and Facebook ($24.4 million value). Scion Asset Management is a small firm focused on serving institutional investors, and pooled investment vehicles in particular. What happened? 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. While this allows for a broader range of investment options and management styles to be offered by a firm, it can create an incentive for the firm to put their financial interests ahead of your own. He previously owned shares earlier this year but sold out in the second quarter per his latest 13F filing as of June 30th. <style> body { -ms-overflow-style: scrollbar; overflow-y: scroll; overscroll-behavior-y: none; } .errorContainer { background-color: #FFF; color: #0F1419; max-width . Follow Tweet. He has warned a severe recession on several occasions over the last year. [18] He faulted federal regulators for failing to listen to warnings from outside a closed circle of advisors. . This value is significant in that it is the last known price at which the security was still held. Checks take place monthly. Last year, the nonpartisan Committee for a Responsible Federal Budget found the plan will likely cost an astronomical $400-$600 billion over time.