The largest investments include Geo and Qurate Retail Inc, together worth $25.6 million. This means they effectively own 0.6% of the company. [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". All requests for updated information should also be reported directly to the SEC and/or FINRA. financing, asset management, . 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. [22] In 2020, the fund's largest investments were Alphabet Inc. ($121 million value) and Facebook ($24.4 million value). . Qurate Retail Inc and bought 5,000,000 shares worth $10.1 million. Why does your firm believe in offering commission-based services to clients? 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. These commissions may be earned from the sale of investment or insurance products and are paid by the companies providing the products being sold. 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. decreased its share price by approximately 0.1%, Geo total 2,019,150 shares worth $15.5 million. In Michael Burry's current portfolio as of 2022-12-31, the top 5 holdings are The GEO Group Inc (GEO), Black Knight Inc . Wolverine World Wide designs, produces, and distributes footwear, apparel, and other accessories globally. 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. 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. 347 Followers. Portfolio manager(s) are listed as Michael Burry. Scion Asset Management manages $291.7 million and provides investment advisory services for 4 clients (1 advisor/client ratio). To allow for equitable access to all users, SEC reserves the right to limit requests originating from undeclared automated tools. How does your firm approach insurance sales? Questions to ask Scion Asset Management, LLC is a private investment firm founded and led by Dr. Michael J. Burry How does your firm mitigate them? Relative to the number of outstanding shares of Geo, Scion Asset Management owns more than approximately 0.1% of the company. 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. Common Stock (US:US19247G1076) Steven Cohen's: Point72 Asset Management. Louis Bacon's: Moore Capital Management. Our searchable database of U.S.-based financial advisors includes more than 17,000 firms across the country. Rather, he pays attention to off-balance sheet metrics and naturaly, free cash flow. By using this site, you are agreeing to security monitoring and auditing. WRITE REVIEW. What conflicts do I need to be made aware of? With headquarters in New York and offices in London and Guernsey, Sciens has been investing in real assets strategies since 2007. The portfolio numbers only nine equities, with The GEO Group accounting for 20.4% of its holdings. Growth has also been smooth for the company due to the recurring nature of its business model. Scion Asset Management Holdings Heatmap . Thank you for your interest in the U.S. Securities and Exchange Commission. 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%. 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 . Execute maintenance objectives and daily assignments with the Facilities Supervisor. A self-regulatory organization or commodities exchange has found firm or an advisory affiliate to have been involved in a violation of its rules. Financial plans and investment portfolios are always unique to the client's personal financial situation. 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). Dr. Michael Burry and his fund Scion Capital were made famous by the movie "The Big Short," which documented the history and events leading up to his contrarian but hugely successful bet against the real estate market in 2008. [28] In October 2021, after a 100% rise in Tesla's stock value, he revealed he was no longer shorting it. * Reported Price is the price of the security as of the portfolio date. Questions to ask Please declare your traffic by updating your user agent to include company specific information. What does this mean? A federal regulatory agency, a state regulatory agency, or a foreign financial regulatory authority other than the SEC or CFTC has found firm or an advisory affiliate to have been involved in a violation of investment-related statutes or regulations. <style> body { -ms-overflow-style: scrollbar; overflow-y: scroll; overscroll-behavior-y: none; } .errorContainer { background-color: #FFF; color: #0F1419; max-width . Stock Company Name % of Portfolio Shares Owned Value Change in Shares Ownership History The latest quarterly filing from Scion Asset ManagementMichael Burry's firmshows no bearish bets against the electric-vehicle giant Tesla The loss of a notable bear appears to be giving . He was so successful with his stock picks that he attracted the interest of companies such as Vanguard, White Mountains Insurance Group and prominent investors such as Joel Greenblatt. The S&P 500, widely regarded as the benchmark for the US market, returned just under 3%, including dividends over the same period. Bruce Berkowitz's: Fairholme Capital Management. 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. Charles Bobrinskoy - Ariel Focus Fund Updated 11 Jan 2023. are based in the United States. Figure 1:What to Know About Michael "Big Short" Burry's Latest Stock Purchase, Read also: GameStop Stock: What the SEC Says About Direct Registration. This typically occurs when firms manage mutual funds or hedge funds alongside smaller retail accounts. As a result, unlike hedge funds, there is no historical performance for any financial advisory firm. 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. What does this mean? Bill Ackman's: Pershing Square Capital Management. 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. Primary Business Name: SCION ASSET MANAGEMENT, LLC CRD Number: 167772 Other-Than-Annual Amendment - All Sections Rev. Firm or an advisory affiliate has previously been fined or ordered to cease and desist activity by the SEC or CFTC. Our system has identified the following conflict alerts. The portfolio is made up of a total of 102 facilities, including 82,000 beds. Firm or a related person trades securities for themselves that they also recommend to their clients. How do these benefits affect the firms selection of a broker-dealer partner? In the most recent 13F filing, Scion Asset Management revealed that it had opened a new position in The total portfolio value may be much higher due to cash . 18951. Scion Asset Management a Portfolio Activity as reported in the most recent 13F form published on Dec 31, 2022. Does your firm, or anyone associated with the firm, practice as a law firm? Fintel is a registered trademark. Hedge funds are required to report only their long positions, not their short positions. 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. What does this mean? Dr. Burry 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 . Firms having met these requirements may further elect to participate in the investor.com Certification program for an annual fee paid to investor.com. Firm offers products that have performance-based fees; the managers of those products may be incentivized to take inappropriate risks to beat their performance benchmark. Burry is betting big on the discretionary and industrial sectors, which generally benefit from economic growth. The advisory also believes in using fundamental analysis methods to assess . What does this mean and why is it important? What does this mean? What does this mean? 12.25% 3-Year Performance. For example, front-running is when a financial professional buys or sell securities ahead of their client. To illustrate how successful Dr. Burrys picks were from the origins of Scion Asset Management to the Great Financial Crisis, the hedge fund recorded returns of 489.34% (net of fees and expenses) between its inception in November 2000 to June 2008. The fund only has four clients. EXHIBIT C. July 28, 2019. He has Rusyn ancestry. Follow Tweet. Why doesnt your firm use a secure website? Dr. Michael Burry and his fund Scion Capital were made famous by the movie "The Big Short," which documented the history and events leading up to his contrarian but hugely successful bet against the real estate market Co-producer of The Street's financial channels: Apple Maven, Amazon Maven and Wall Street Memes. GameStop Stock: What the SEC Says About Direct Registration, Alibaba Group Holding Limited American Depositary Shares each representing eight. To file a complaint or dispute with this firm, please fill out the SEC Investor Complaint Form. Portfolio Gain +257.56%. A good way to understand Burry's thinking and Scion Asset Management's . 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. Red rows indicate closed positions. In this episode, we hear how she became a sponge for product design, figured out how to make accessible yet high-end jewelry, and how she even relocated to China for the better part of a year to personally see to her brand's manufacturing. Latest Holdings, Performance, AUM (from 13F, 13D). Bloomberg via Getty Images. 100.0% GameStop Corp. 625 Westport Parkway. All rights reserved. The Servicing Digital segment offers web and mobile solutions for consumers that deliver easy access to customized, timely information about their mortgages. Our partners compensate us through paid advertising. 1-Year Performance. Regulatory disclosures state that firm sells proprietary investments and products. Questions to ask CALIFORNIA LIMITED-LIABILITY COMPANY - OUT OF STATE. 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. 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. Thus, be mindful and conduct your own research before allocating your hard-earned money to any of these names. Burry followed up his warning by detailing his own experience with student debt. Since 1999, Scion Advisory Services has been the sector's most trusted adviser, collaborating with clients on over 250 campuses and counting. 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. Unlike HTTPS connections, HTTP connections are not encrypted. This website is provided as is without any representations or warranties, express or implied. 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. While this can be seen as "eating your own cooking," there are conflicts that may arise. So is Burry less bearish on the U.S. economy than he was last year? Questions to ask This could be detrimental to a client during down markets. Click the link icon to see the full transaction history. , Should I Hire a Financial Advisor or DIY It? Questions to ask The companys operating segments include Active Group, Work Group, and Lifestyle Group, which individually focus anywhere from casual footwear and apparel to industrial work boots and apparel. Charlie Munger - Daily Journal Corp. Scion Asset Management currently serves clients in the following states: CA, TN. Description. [30], Burry is married, with children, and was living in Saratoga, California in 2010. 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. He has warned a severe recession on several occasions over the last year. As a financial advisory firm, Scion Asset Management can provide a variety of financial planning services for Americans. Visit Site, Is this your firm? He only looks for their undervalued elements, regardless of their sector and class. Performance. The company is currently facing heavy challenges, including all major banks cutting ties with private prisons and President. U.S Market Open - Market Closes in 49M 55S. By Steve Burns. The impact to a portfolio due to this purchase was 0.65%. This could also limit the number and diversity of investment options available and may impact their transferability. Terms of Use | Disclaimers | Privacy Policy. On this Wikipedia the language links are at the top of the page across from the article title. And we could be headed for another recession. Burry has amassed more than 1.4 million followers on Twitter, where he frequently tweets and then deletes his predictions about the US economy. Burry has a strictly traditional understanding of value. Others say the plan is too costly and burdensome on taxpayers. What does this mean and why is it important? Qurate Retail Inc makes up He founded the hedge fund Scion Capital, which he ran from 2000 until 2008 before closing it to focus on his personal investments. For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. Scion Asset Management Holdings Heatmap . , whose value fell approximately 0.1% in the past six months. Mailing Address 20665 4TH STREET SUITE 201 SARATOGA CA 95070. Business Address 20665 4TH STREET SUITE 201 SARATOGA CA 95070 408-441-8400. Justice Brett Kavanaugh suggested it was problematic that Biden took executive action even though Congress has not passed legislation related to student debt. 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. Upgrade to unlock premium data and export to Excel . Currently, Scion Asset Management's portfolio is worth at least $41.3 million. SCION ASSET MANAGEMENT, LLC ( CRD # 167772/SEC#:801-113529 ) The adviser's REGISTRATION status is listed below. Thanks for supporting the Wall Street Memes). What happened? 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. His solemn investing philosophy has resulted in outsized market returns over the past few years, beating the S&P 500 by a wide margin. Is your firm a broker-dealer or are you affiliated with one? These conflicts can negatively impact clients via hidden fees and overall higher costs. What percentage of income does your firm receive from fees versus commissions? Relative to the number of outstanding shares of Geo, Scion Asset Management owns more than approximately 0.1% of the company. Portfolio 9 Options 0 Performance. . Common Stock (US:US19247G1076) Furthermore, Burry has predicted a vicious cycle in which the Fed raises interest rates to a level not seen since the 2008 crisis. Not only did he make a personal profit of $100 million, but his remaining investors earned more than $700 million. The largest investments include Geo and Qurate Retail Inc, together worth $25.6 million. Sciens launched the Sciens Water Opportunities Fund in 2018 to make investments in the U.S. water sector. No. 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. FINRA data last verified February 17, 2023. Last year, the nonpartisan Committee for a Responsible Federal Budget found the plan will likely cost an astronomical $400-$600 billion over time. Will any of my assets be invested in those products? "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. Currently, their heaviest sector is Real Estate making up 53.2% of Actual Assets Under Management (AUM) is this value plus cash (which is not disclosed). 1,517,790 additional shares. Our receipt of such compensation shall not be construed as an endorsement or recommendation by StockBrokers.com, nor shall it bias our reviews, analysis, and opinions. Which securities does your firm trade for itself that it will also be recommending to me? Will His AI Plans Be Any Different? 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. At the age of two he lost his left eye to retinoblastoma[3] and has had a prosthetic eye ever since. "[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. 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 . Each month, the investor.com Trust algorithm downloads the latest regulatory data from the SEC IAPD database. , 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. *SEC data last verified February 17, 2023. When? 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. What does this mean and why is this important? Sure Dividend compiles the following stock market databases and updates them monthly: Thanks for reading this article. Additionally, the company has been utilizing loopholes through third parties, which essentially still allows it to deal with federal agencies. Top 50 Scion Asset Management Holdings . [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. As a result, we do not support personal reviews on the site. Firm or an advisory affiliate has previously had an investment-related civil action dismissed against them following a cash settlement in court. Fintel makes no representations or warranties in relation to this website or the information and materials provided on this website. It would appear that Burry is betting that China will rebound. The third-largest holding is CoreCivic Inc worth $6.41 million and the next is Aerojet Rocketdyne Inc worth $5.3 million, with 132,561 shares owned. Quickly find out what the most recently closed or increased positions are. Perform physically demanding work to maintain the asset, and other property features to minimize liability concerns. Lets not forget that the student debt problem is built on a foundation of terrible major choices, Burry, 51, tweeted on Tuesday. JD.com, Inc. (US:JD) T. Black Knight offers blended software, data, and analytics solutions all over the globe. Scion Asset Management, LLC's top holdings are Several times last year, Burry predicted a stock market crash by betting that inflation would not give way. 0001567619-21-015632. Does your firm recommend securities that it or its affiliates underwrite, or in which it serves as general or managing partner? Black Knight is a new holding for Scion Asset Management, initiated in its most recent quarterly filings. Accordingly, he disregards price-to-earnings ratios to dodge being deceived by a companys stated metrics. Any data inaccuracies, please contact our team. 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. Scion's new purchases consist of . How does your firm mitigate conflicts that arise from managing accounts with differing fee structures? He previously owned shares earlier this year but sold out in the second quarter per his latest 13F filing as of June 30th. What does this mean and why is this important? The Software Solutions segment provides software and hosting solutions comprising MSP, a SaaS application platform for mortgages, home equity loans, and lines of credit. Firm performs side-by-side management with accounts that have differing fee structures. SkyWest, Inc. (US:SKYW) What does this mean and why is it important? Profitability has also been weak. Scion Asset Management manages $291.7 million and provides investment advisory services for 4 clients (1 advisor/client ratio). The bottom line has softened lately as a result of inflationary pressures and supply chain inefficiencies, but profits are still substantial. Green rows indicate new positions. Warren Buffett's: Berkshire Hathaway. Investor.com relies on regulatory data from the SEC to rate and review financial advisor firms. As a consumer advocacy project, investor.com does not charge any licensing fees for earned state accolade badges. Specifically, his picks were published on message boards on the stock discussion site Silicon Investor back in 1996, with their returns being outstanding! Michael Burry's hedge fund's other holdings consist of: In general, Michael Burry's investment philosophy is based on fundamental analysis. BBBY has plummeted by more than 95% from its 2021 peak to below $2 a share today . 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. The collapse of the real estate market in 2008 was a key event leading to the global financial crisis. Specifically, The GEO Group has suspended its dividends, which has allowed the company to deleverage rapidly. And we will have another inflation spike. This form was filed on 2023-02-14 for the reporting period 2022-12-31. As of 09/30/2022, below is a summary of the Scion Asset Management LLC top holdings by largest position size, as . This value is significant in that it is the last known price at which the security was still held. What conflicts arise from this relationship? Portfolio manager(s) are listed as Michael Burry. What does this mean? Stock Company Name % of Portfolio Shares Owned Value Change in Shares Ownership History When I left residency at Stanford to gamble my future on what was to become, I had well into six figures of educational debt, Burry tweeted Wednesday. 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. Hedge Fund Manager. and However, Burry is also known to take an approach that often contradicts what the broad market dictates. Keep reading this article to learn more about Scion Asset Management. MGM Resorts International (US:MGM) Competition has been eating the companys lunch for years, with Wolverine having a hard time sustaining its sales over the past decade, let alone growing them. 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. What does this mean and why is it important? Founded in 2013, Scion Asset Management is a multi-strategy hedge fund manager based in Saratoga, California. While Scion Asset Management advises clients across a variety of portfolio sizes, the average client balance is currently $72.9 million. 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. [6] Scion Capital ultimately recorded returns of 489.34% (net of fees and expenses) between its November 1, 2000 inception and June 2008. 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. The two most similar investment funds to Scion Asset Management are Centurylink Investment Management Co and Secrest Blakey & Associates. 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. 408-441-8400 Updated 05 Jan 2023. [14][15][16], During his payments toward the credit default swaps, Burry suffered an investor revolt, where some investors in his fund worried his predictions were inaccurate and demanded to withdraw their capital. Firm actively engages as insurance brokers or agents, or they are affiliated with an insurance company or agency. What does this mean? After attending medical school, Dr. Burry left to start his own hedge fund in 2000. Point72 Asset Management . 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. Written by investor.com. Scion Asset Management - Michael Burry assets under management (13F Holdings listing stock ownership and transaction history) provided by Insider Monkey. 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. Scion Asset Management, LLC Holdings.