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That would put the U.S. in a recession under "any definition.". documented the history and events leading up to his contrarian but hugely successful bet against the real estate market 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. Scion Asset Management Review. What does this mean? When? Michael Burry is an American investor, and hedge fund manager. [19] He has focused much of his attention on investing in water, gold, and farm land. What does this mean? The president and supporters of his plan argue student loan debt forgiveness will provide much-needed relief to million debt-saddled Americans. Ultimately, Burrys analysis proved right. 408-441-8400 0001567619-21-015632. Firm can legally elect to accept commissions for their investment advisory services. What does this mean? And JD.com is in a similar situation, being 57% below its peak in February 2021. Unlike HTTPS connections, HTTP connections are not encrypted. See how we calculate 13F filing performance here. In the past 10 years, a domestic or foreign court has issued an injunction against the firm or an advisory affiliate in connection with an investment-related activity. With headquarters in New York and offices in London and Guernsey, Sciens has been investing in real assets strategies since 2007. Dr. Burry The firm prefers to employ long/short, market neutral, and activist strategies. As a financial advisory firm, Scion Asset Management can provide a variety of financial planning services for Americans. Scion Asset Managements portfolio is diversified across 5 sectors. Fintel is a registered trademark. 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. Black Knight Inc (US:BKI) Common Stock (US:US19247G1076) 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. 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. 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. 0001567619-21-010281.txt. The firm owned 95,150 shares of the company's stock after purchasing an additional 57,650 shares during the period. $41.4 million and $41.2 million respectively. Should I Hire a Financial Advisor or DIY It? 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. 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. 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While this may seem like an attractive compensation structure to ensure your advisor is making your money work for you, often, the managers of those products are incentivized to take inappropriate risks to beat their performance benchmark. 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. , whose value fell approximately 0.1% in the past six months. 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. SkyWest, Inc. (US:SKYW) His research on the values of residential real estate convinced him that subprime mortgages, especially those with "teaser" rates, and the bonds based on these mortgages, would begin losing value when the original rates were replaced by much higher rates, often in as little as two years after initiation. Green rows indicate new positions. 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. 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. It is now the funds third-largest holding, accounting for 12.8% of its holdings. 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. How does your firm mitigate them? They contribute around 66%, 13%, 11 and 9% of total revenues, respectively. The GEO Group Inc (US:GEO) Bidens orders, which directed the attorney general not to renew Justice Department contracts with privately operated criminal detention facilities. Scion Asset Management has become increasingly popular due to Dr. Burrys ability to identify undervalued investment opportunities around the world. For comparison, the S&P 500 ETF (SPY) generated annualized total returns of 7.5% over the same time period. Burry was born and grew up in San Jose, California. 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). However, Dr. Burry has a much broader track record in the investing world. As a result, we do not support personal reviews on the site. The fund's top five holdings, which we analyze below, account for 72.2% of its total public . [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. All rights reserved. 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. The Servicing Digital segment offers web and mobile solutions for consumers that deliver easy access to customized, timely information about their mortgages. Founded in 2013, Scion Asset Management is a multi-strategy hedge fund manager based in Saratoga, California. Updated 05 Jan 2023. 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. 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. 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. 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. Follow Tweet. He has warned a severe recession on several occasions over the last year. [22] In 2020, the fund's largest investments were Alphabet Inc. ($121 million value) and Facebook ($24.4 million value). Relative to the number of outstanding shares of Geo, Scion Asset Management owns more than approximately 0.1% of the company. On the other hand, small-cap stocks make up only approximately 0.1% of the portfolio. 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. , These filings are called "notice filings". How many times did it occur? Charles Bobrinskoy - Ariel Focus Fund Updated 11 Jan 2023. This means they effectively own 0.6% of the company. Scion Asset Management, LLC's new positions include With GME then traded around $4, Burry disclosed he'd previously sent GME's board several letters recommending an aggressive share buyback. The company is currently facing heavy challenges, including all major banks cutting ties with private prisons and President. 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. Does your firm, or anyone associated with the firm, practice as a law firm? SEC Form 13F Filing History. Relative to the number of outstanding shares of Geo, Scion Asset Management owns more than approximately 0.1% of the company. Does your firm offer mutual funds that have 12b-1 fees? 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. What does this mean? "[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. Saratoga, CA 95070, 30 Burton Hills Blvd Suite 315, Nashville, Tennessee 37215. What does this mean? Performance. 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. Northport Investment Management, Albatross Investment Services, Lynn H. ORR Capital Management Group, Level Partners Management, Allvestments, Was this helpful? Last year was a turbulent one for China, marked by strict lockdowns and geopolitical and regulatory turmoil. This page shows a list of all the recent 13F filings made by Scion Asset Management, LLC. Financial planning services can include tax planning, estate planning, retirement planning, or life-based event planning such as saving for college, getting married, purchasing a home, paying down debt, or planning an inheritance. This relationship may introduce bias where a firm or related person recommends certain securities with which they are affiliated, rather than others that may have higher returns. As a consumer advocacy project, investor.com does not charge any licensing fees for earned state accolade badges. At 06/30/2022: $3,309. Justice Brett Kavanaugh suggested it was problematic that Biden took executive action even though Congress has not passed legislation related to student debt. Our Methodology. 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 . Some firms receive these fees as payments, which creates an incentive to promote them. Scion Asset Management, LLC is a private investment firm founded and led by Dr. Michael J. Burry Hedge fund boss Michael Burry is warning of terrible consequences for the US if the Biden administrations student loan debt forgiveness plan is upheld. Firm is a broker-dealer, or is affiliated with one, and may be subject to compensation-related conflicts of interest. 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? On February 14, Michael Burry filed his company's holdings report with the SEC. Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens. What does this mean and why is this important? According to author Michael Lewis, "in his first full year, 2001, the S&P 500 fell 11.88%. Firms that earn a 4.5 or 5 star rating are also eligible to receive the "Trusted by investor.com" badge. The bottom line has softened lately as a result of inflationary pressures and supply chain inefficiencies, but profits are still substantial. 12.25% 3-Year Performance. [17] He subsequently liquidated his company to focus on his personal investments. Bloomberg via Getty Images. His solemn investing philosophy has resulted in outsized market returns over the past few years, beating the S&P 500 by a wide margin. Michael Burry's Scion Asset Management jettisoned 11 US equities in the second quarter and ended the period with just one. Filing Date. For more information, contact opendata@sec.gov. Visit Site, Is this your firm? Grapevine, TX 76051. The stock is now traded at around $14.430000. 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. 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. : DE | Fiscal Year End: 1231. [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. This video discusses the update to Michael Burry's portfolio (Scion Asset Management). 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. The following data is gathered from Scion Asset Management's latest 13F filing with the SEC for the reporting period of September 30, 2022. For example, front-running is when a financial professional buys or sell securities ahead of their client. 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. Co-producer of The Street's financial channels: Apple Maven, Amazon Maven and Wall Street Memes. Firm or related person receives soft-dollar benefits in connection with client securities transactions. What happened? "[6] Burry was able to achieve these returns partly by shorting overvalued tech stocks at the peak of the internet bubble. Scion Asset Management 13F annual report. Follow Tweet. The investment fund's only holding now is The . So is Burry less bearish on the U.S. economy than he was last year? The Scion Asset Management manager revealed the purchase of seven new stocks in the last quarter. 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 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. What percentage of income does your firm receive from fees versus commissions? He has 25 years of experience as a finance and accounting executive, having served major private and public real estate firms as chief accounting officer, chief financial officer and senior vice president of strategic initiatives. Scion Asset Management's public equity portfolio is heavily concentrated. Private prison giants The GEO Group accounts for 20.4% of Scion Assets management public equity holdings. This website is provided as is without any representations or warranties, express or implied. Bruce Berkowitz's: Fairholme Capital Management. (Disclaimers: this is not investment advice. Burry's bearish thesis is that the American economy will go into recession in 2023 regardless of how we define the term. Michael Burry's hedge fund Scion Asset Management is based in Saratoga, California and manages capital for 5 clients. Investor.com relies on regulatory data from the SEC to rate and review financial advisor firms. Saratoga, CA 95070. 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. <style> body { -ms-overflow-style: scrollbar; overflow-y: scroll; overscroll-behavior-y: none; } .errorContainer { background-color: #FFF; color: #0F1419; max-width . Each month, investor.com helps thousands of Americans answer the question, "Can I trust you?". Scion Asset Management, LLC (Filer) CIK: 0001649339 (see all company filings) IRS No. Is your firm a broker-dealer or are you affiliated with one? SCION ASSET MANAGEMENT, LLC ( CRD # 167772/SEC#:801-113529 ) The adviser's REGISTRATION status is listed below. Questions to ask document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Thanks for contacting us. 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. Questions to ask Greenhaven Associates Updated 10 Jan 2023. 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. It is now the funds fifth-largest holding, accounting for 10.0% of its holdings. 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 . Your request has been identified as part of a network of automated tools outside of the acceptable policy and will be managed until action is taken to declare your traffic. ; Text is available under the Creative Commons Attribution-ShareAlike License 3.0; additional terms may . The largest investments include Geo and Qurate Retail Inc, together worth $25.6 million. However, Burry is also known to take an approach that often contradicts what the broad market dictates. 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. Stock Company Name % of Portfolio Shares Owned Value Change in Shares Ownership History 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. [28] In October 2021, after a 100% rise in Tesla's stock value, he revealed he was no longer shorting it. Firm or an advisory affiliate was previously found to have made false statements or omissions by the SEC or CFTC. The firm may also use leverage and derivative strategies to increase the rate of client success. Firm or an advisory affiliate was previously found to have made false statements or omissions by a self-regulatory organization. Also, the article may contain affiliate links. Since 1999, Scion Advisory Services has been the sector's most trusted adviser, collaborating with clients on over 250 campuses and counting. To see the historical data of Scion Asset Management's portfolio holdings please click on the "2022 Q4" dropdown menu and select the date. Scion Asset Management, LLC Here's what investors need to know about Michael Burry's long positions. Firm actively engages as insurance brokers or agents, or they are affiliated with an insurance company or agency. 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. Aside from potential increases to the cost of education, Burry did not elaborate on what terrible consequences he foresees for the country. All requests for updated information should also be reported directly to the SEC and/or FINRA. The majority of the companies in the funds portfolio are large-cap stocks. A self-regulatory organization or commodities exchange has found firm or an advisory affiliate to have been involved in a violation of its rules. 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, 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 . [32], Burry was highly critical of the lockdowns during the COVID-19 pandemic in the United States.[33]. Lets not forget that the student debt problem is built on a foundation of terrible major choices, Burry, 51, tweeted on Tuesday. Link to 13F filings: SEC filings. What does this mean and why is it important? 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. decreased its share price by approximately 0.1%, Geo total 2,019,150 shares worth $15.5 million. 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. Fintel makes no representations or warranties in relation to this website or the information and materials provided on this website. 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. What does this mean and why is it important? Scion Asset Management, LLC's top holdings are Which securities does your firm trade for itself that it will also be recommending to me? , Stocks with a size of more than $10 billion in market cap make up And it is notwater is political, and litigious. The firm's website is not secure by modern internet standards. 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). , There are 3 companies that go by the name of Scion Asset Management, LLC. Scion Asset Management, registered in 2018, serves 2 state (s) with a licensed staff of 4 advisors. Coherent Corp. produces and manufactures, and sells engineered materials, optoelectronic components, and devices internationally. What does this mean? How does your firm approach insurance sales? For more information, please see the SECs Web Site Privacy and Security Policy. By Steve Burns. 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. Checks take place monthly. 347 Followers. Currently tracking portfolios of 77 superinvestors. What does this mean and why is it important? Hedge Fund Manager. David Einhorn's: Greenlight Capital. 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 it important? The fund only has four clients. Company metrics from any one time period can be misleading based on the underlying state of the economy and macros that may benefit or harm the company at a given point in time. Scion Asset Management, LLC has disclosed 9 total holdings in their latest SEC filings. [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. The investor's firm, Scion Asset Management, held bearish put options on over 800,000 shares of Elon Musk's . What does this mean? Portfolio manager(s) are listed as Michael Burry. But critics have aired various concerns about Bidens plan, such as whether his executive order oversteps the presidents authority. JD.com, Inc. (US:JD) Questions to ask Specifically, The GEO Group has suspended its dividends, which has allowed the company to deleverage rapidly. While this can be seen as "eating your own cooking," there are conflicts that may arise. Any data inaccuracies, please contact our team. 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. $48.3 Million Total portoflio value. He has stated more than once that his investment style is based on Benjamin Graham and David Dodds 1934 book Security Analysis. 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. After attending medical school, Dr. Burry left to start his own hedge fund in 2000. Additionally, the company has been utilizing loopholes through third parties, which essentially still allows it to deal with federal agencies. The firm doesn't work with individual investors, although individuals may invest in the funds for which it provides investment advisory services. 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. Michael Burry is head of Scion Asset Management. has disclosed 9 total holdings in their latest SEC filings. Questions to ask When I left residency at Stanford to gamble my future on what was to become, I had well into six figures of educational debt. What does this mean? 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. You can also sign up for email updates on the SEC open data program, including best practices that make it more efficient to download data, and SEC.gov enhancements that may impact scripted downloading processes. 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 . 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. What does this mean? 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.