Others say the plan is too costly and burdensome on taxpayers. Primary Business Name: SCION ASSET MANAGEMENT, LLC CRD Number: 167772 Other-Than-Annual Amendment - All Sections Rev. "[6] Burry was able to achieve these returns partly by shorting overvalued tech stocks at the peak of the internet bubble. in 2008. I was damned sure I was going to pay it off.. By using this site, you are agreeing to security monitoring and auditing. Yes or 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. Bloomberg via Getty Images. Scion Asset Management Holdings Heatmap . Justice Brett Kavanaugh suggested it was problematic that Biden took executive action even though Congress has not passed legislation related to student debt. The company has been growing rapidly over the past few years while retaining compelling profitability levels. 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. 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. $41.4 million and $41.2 million respectively. He has said, "Fresh, clean water cannot be taken for granted. For further detail, see our articles on different types of advisors and financial advisor services. On this Wikipedia the language links are at the top of the page across from the article title. GameStop Corp. 625 Westport Parkway. EXHIBIT C. July 28, 2019. Scion Asset Management, registered in 2018, serves 2 state (s) with a licensed staff of 4 advisors. The company is currently facing heavy challenges, including all major banks cutting ties with private prisons and President. Geo dropped approximately 0.1% in the past year. 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. How does your firm approach insurance sales? Also, the article may contain affiliate links. The Scion Asset Management manager revealed the purchase of seven new stocks in the last quarter. He then left to start his own hedge fund. Michael Burry's Scion Asset Management jettisoned 11 US equities in the second quarter and ended the period with just one. The following positions are based on the last Q1 2021 13F filing as of 3-31-2021, with his top 10 holdings making up 91.57% of his portfolio. Will any of my assets be invested in those products? In addition, the fund holds 5,000,000 shares of . To file a complaint or dispute with this firm, please fill out the SEC Investor Complaint Form. The conservative-majority Supreme Court appeared skeptical of Bidens plan during hearings this week, raising doubts about the likelihood it will receive final approval. [6], According to his website, Burry liquidated his credit default swap short positions by April 2008 and did not benefit from the bailouts of 2008 and 2009. Sure Dividend compiles the following stock market databases and updates them monthly: Thanks for reading this article. 2023 Reink Media Group LLC. While Scion Asset Management advises clients across a variety of portfolio sizes, the average client balance is currently $72.9 million. 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. 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). 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. Maintain the physical condition of the property according to The Scion Group's Standard Operating Procedures, OSHA and Industry standards. Finally, the Loss Mitigation segment develops solutions that support retention and liquidation workouts. While partners may pay to provide offers or be featured, e.g. His solemn investing philosophy has resulted in outsized market returns over the past few years, beating the S&P 500 by a wide margin. 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. 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. I cover the recent 13F filings and the logic behind Michael Burry's po. What percentage of income does your firm receive from fees versus commissions? [17] He subsequently liquidated his company to focus on his personal investments. ", "Why Is Michael Burry Investing In Water? Our system has identified the following conflict alerts. He previously owned shares earlier this year but sold out in the second quarter per his latest 13F filing as of June 30th. Scion Asset Management has become increasingly popular due to Dr. Burrys ability to identify undervalued investment opportunities around the world. Strategies arent specified: There isnt a lot of specificity provided . What does this mean and why is it important? Scion Asset Management's Portfolio - All 9 Public Equity Investments. Questions to ask ; Text is available under the Creative Commons Attribution-ShareAlike License 3.0; additional terms may . The impact to a portfolio due to this purchase was 0.65%. What does this mean? 1001 and 1030). The Scion Asset Management office and employees reside in Saratoga, California. Mailing Address 20665 4TH STREET SUITE 201 SARATOGA CA 95070. Business Address 20665 4TH STREET SUITE 201 SARATOGA CA 95070 408-441-8400. By visiting these sites, you are subject to their terms of use (IAPD, BrokerCheck). 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%. Grapevine, TX 76051. Scion Asset Management is a small firm focused on serving institutional investors, and pooled investment vehicles in particular. and The largest investments include Geo and Qurate Retail Inc, together worth $25.6 million. Note: 13F filing performance is different than fund performance. Scion Asset Management is an investment fund managing more than $41.3 million ran by Michael Burry. What does this mean and why is it important? Scion Asset Management, LLC has disclosed 9 total holdings in their latest SEC filings. 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. Here's what investors need to know about Michael Burry's long positions. Sensitive information sent over an HTTP connection can easily be eavesdropped on by third-parties. 10/2021 4/18/2022 5:06:55 PM SCION ASSET MANAGEMENT, LLC SCION ASSET MANAGEMENT, LLC (2) If you are using this Form ADV to register more than one investment adviser under an umbrella registration , check this box . 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. Here's what investors need to know about Michael Burry's long positions. 18951. Quickly find out what the most recently closed or increased positions are. 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. Firm or an advisory affiliate has previously had an investment-related civil action dismissed against them following a cash settlement in court. He has said more than once that his investment style is built upon Benjamin Graham and David Dodds 1934 book Security Analysis: "All my stock picking is 100% based on the concept of a margin of safety. Description. Scion Asset Management Review. Relative to the number of outstanding shares of Geo, Scion Asset Management owns more than approximately 0.1% of the company. These positions were updated on November 14th based on the funds latest 13F filing. Investment adviser firms registered with the SEC may be required to provide to state securities authorities a copy of their Form ADV and any accompanying amendments filed with the SEC. The funds top five holdings, which we analyze below, account for 72.2% of its total public equity exposure. All rights reserved. There are 3 companies that go by the name of Scion Asset Management, LLC. Why has Burry, who is bearish on the . Private prison giants The GEO Group accounts for 20.4% of Scion Assets management public equity holdings. After attending medical school, Dr. Burry left to start his own hedge fund in 2000. When he was younger, he noticed that it took him a lot of energy to look people in the eye, and said, "If I am looking at you, that's the one time I know I won't be listening to you". 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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 and why is it important? 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. This page shows a list of all the recent 13F filings made by Scion Asset Management, LLC. Portfolio manager(s) are listed as Michael Burry. What does this mean and why is it important? John Rogers - Ariel Appreciation Fund Updated 11 Jan 2023. . While StockBrokers.com has all data verified by industry participants, it can vary from time to time. Michael Burry's hedge fund Scion Asset Management is based in Saratoga, California and manages capital for 5 clients. approximately 0.1% of the total holdings value. How does your firm mitigate them? Scion's required disclosure did not include any "short" position it held in the third quarter, nor does it show . Steven Cohen's: Point72 Asset Management. What does this mean? 0001567619-21-010281.txt. <style> body { -ms-overflow-style: scrollbar; overflow-y: scroll; overscroll-behavior-y: none; } .errorContainer { background-color: #FFF; color: #0F1419; max-width . , Since 1999, Scion Advisory Services has been the sector's most trusted adviser, collaborating with clients on over 250 campuses and counting. Bill Ackman's: Pershing Square Capital Management. documented the history and events leading up to his contrarian but hugely successful bet against the real estate market Currently, their heaviest sector is Real Estate making up 53.2% of This means they effectively own 0.6% of the company. Firm can legally elect to accept commissions for their investment advisory services. Changes can be due to trades or changes in share prices. The GEO Group Inc (US:GEO) assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents. What does this mean? [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. Michael James Burry (/bri/; born June 19, 1971)[2] is an American investor, hedge fund manager, and physician. Last year, the nonpartisan Committee for a Responsible Federal Budget found the plan will likely cost an astronomical $400-$600 billion over time. Questions to ask What does this mean and why is this important? As a Certified B Corporation, our focus is simple: people before profits. 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. 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. At the age of two he lost his left eye to retinoblastoma[3] and has had a prosthetic eye ever since. Burry has a strictly traditional understanding of value. Terms of Use | Disclaimers | Privacy Policy. Questions to ask 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. 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. The current portfolio value is calculated to be $47.00 Mil. Most recent portfolio value is calculated to be $ 46,536,925 USD. What does this mean? How does your firm mitigate conflicts that arise from managing accounts with differing fee structures? 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. Saratoga, CA 95070, 30 Burton Hills Blvd Suite 315, Nashville, Tennessee 37215. Charles Bobrinskoy - Ariel Focus Fund Updated 11 Jan 2023. 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. Checks take place monthly. Shares of Chinese e-commerce behemoth Alibaba have remained under pressure despite the company generating rather robust revenues given the ongoing trading environment. What does this mean? He only looks for their undervalued elements, regardless of their sector and class. To see the historical data of Scion Asset Management's portfolio holdings please click on the "2022 Q4" dropdown menu and select the date. *SEC data last verified February 17, 2023. 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. Founded in 2013, Scion Asset Management is a multi-strategy hedge fund manager based in Saratoga, California. 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. SkyWest, Inc. (US:SKYW) '[26] In May 2021, it was reported that he held puts on over 800,000 shares of Tesla. Black Knight is a new holding for Scion Asset Management, initiated in its most recent quarterly filings. This makes their stake in Geo total 2,019,150 shares worth $15.5 million. They manage Scion Asset Management's public equity portfolio is heavily concentrated. What does this mean? $48.3 Million Total portoflio value. What does this mean? Geo dropped approximately 0.1% in the past year. The companys vast portfolio of products includes optical and electro-optical components and materials, fiber lasers, infrared optical components, and high-precision optical assemblies, amongst others. Which securities does your firm trade for itself that it will also be recommending to me? The firm owned 95,150 shares of the company's stock after purchasing an additional 57,650 shares during the period. "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. Scion Asset Management General Information. What does this mean and why is it important? All Scion Asset Management, LLC holdings are listed in the following tables. 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. Scion's new purchases consist of . Does your fim accept soft-dollar benefits? The Scion Group is the largest owner/operator of off-campus student housing communities globally. 66.7% of the portfolio companies Actual Assets Under Management (AUM) is this value plus cash (which is not disclosed). Firms that earn a 4.5 or 5 star rating are also eligible to receive the "Trusted by investor.com" badge. Michael Burry of Scion Asset Management. Keep reading this article to learn more about Scion Asset Management. 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. U.S Market Open - Market Closes in 49M 55S. Relative to the previous quarter there was a little reshuffling of his holdings. 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. JD.com, Inc. (US:JD) 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 . A self-regulatory organization or commodities exchange has found firm or an advisory affiliate to have been involved in a violation of its rules. Firm's/Financial Professional's investor.com profile pages may contain certain limited information directly provided to investor.com by the Firm/Financial Professional including, by way of example only, the Personal Bio, Certifications, and/or Investment Philosophy portions of the profile page. Firm or an advisory affiliate has previously had their authorization to act as an attorney, accountant, or federal contractor revoked or suspended. It is now the funds fourth-largest holding, accounting for 10.7% of its holdings. As of 09/30/2022, below is a summary of the Scion Asset Management LLC top holdings by largest position size, as . The Board of Directors. Firm or an affiliate actively engages in business as a law firm or lawyer. [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]. Disclaimer: It is our organization's primary mission to provide reviews, commentary, and analysis that are unbiased and objective. However, Burry is also known to take an approach that often contradicts what the broad market dictates. 12.25% 3-Year Performance. Will His AI Plans Be Any Different? Scion Asset Management also says it works to provide clients with a diverse mix of portfolio opportunities it believes will increase their chances of investment success. Scion has $638,901,404 assets under management (AUM). For more information, contact opendata@sec.gov. 1,517,790 additional shares. Interestingly enough, when Dr. Burry had to pay for the credit default swaps, he experienced an investor revolt, as some investors in his fund feared his prophecy was inaccurate, requesting to withdraw their funds. Ray Dalio's: Bridgewater Associates. , What conflicts arise from this relationship? The Servicing Digital segment offers web and mobile solutions for consumers that deliver easy access to customized, timely information about their mortgages. 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. He has warned a severe recession on several occasions over the last year. A quarter of the portfolio is made up of consumer discretionary companies. On February 14, Michael Burry filed his company's holdings report with the SEC. The two most similar investment funds to Scion Asset Management are Centurylink Investment Management Co and Secrest Blakey & Associates. 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. 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. While this can be seen as "eating your own cooking," there are conflicts that may arise. Updated 05 Jan 2023. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Thanks for contacting us. In comparison, the S&P 500 returned just under 3%, including dividends, over the same period. Scion Asset Management 13F annual report. Burry is betting big on the discretionary and industrial sectors, which generally benefit from economic growth. What does this mean? Accordingly, he disregards price-to-earnings ratios to dodge being deceived by a companys stated metrics. | 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. The portfolio numbers only nine equities, with The GEO Group accounting for 20.4% of its holdings. Why Didn't the Fed? 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. SCION ASSET MANAGEMENT LLC Institutional Portfolio | Nasdaq. Written by investor.com.
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