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. There are 3 companies that go by the name of Scion Asset Management, LLC. These positions were updated on November 14th based on the funds latest 13F filing. Actual Assets Under Management (AUM) is this value plus cash (which is not disclosed). What does this mean and why is it important? The Scion Asset Management office and employees reside in Saratoga, California. 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. How do these benefits affect the firms selection of a broker-dealer partner? [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. 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 . The current portfolio value is calculated to be $47.00 Mil. These commissions may be earned from the sale of investment or insurance products and are paid by the companies providing the products being sold. No. Nevertheless, most stocks in the fund seem to be bearing their fair share of risks. 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. After medical school, Burry worked as a Stanford Hospital neurology resident, then a Stanford Hospital pathology resident. 20665 4th Street, Suite 201. Scion Asset Management a Portfolio Activity as reported in the most recent 13F form published on Dec 31, 2022. This means they effectively own 0.6% of the company. What percentage of income does your firm receive from fees versus commissions? Latest Holdings, Performance, AUM (from 13F, 13D). Not only did he make a personal profit of $100 million, but his remaining investors earned more than $700 million. Thanks for supporting the Wall Street Memes). Sensitive information sent over an HTTP connection can easily be eavesdropped on by third-parties. As a Certified B Corporation, our focus is simple: people before profits. Common Stock (US:US19247G1076) Form 13F is required to be filed within 45 days of the end of a calendar quarter. Why does your firm believe in offering commission-based services to clients? Firm actively engages as insurance brokers or agents, or they are affiliated with an insurance company or agency. Stocks with a size of more than $10 billion in market cap make up Burry even ended up selling 99% of his positions in 2022, including Alphabet (GOOGL) - Get Free Report, Warner Bros Discovery (WBD) - Get Free Report, and Meta (META) - Get Free Report, leaving only his position in GEO Group. Relative to the number of outstanding shares of Geo, Scion Asset Management owns more than approximately 0.1% of the company. 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. You can download an Excel spreadsheet with metrics that matter of Scion Asset Managements current 13F equity holdings below: Click here to instantly download your free spreadsheet of all Scion Asset Management / Michael Burry holdings now, along with important investing metrics. 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. 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. Why has Burry, who is bearish on the . Questions to ask Monte Huber is responsible for leading Scion's financial planning, reporting and risk management. 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. Black Knight Inc (US:BKI) 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. What does this mean and why is it important? He also urged investors to liquidate their stocks. Scion Asset Management: Michael Burry: 22.59%: $46538000: 9: Top Holdings Largest Trades Portfolio Structure Sector Allocation Performance History. February 17, 2023. According to author Michael Lewis, "in his first full year, 2001, the S&P 500 fell 11.88%. What does this mean? Unlike HTTPS connections, HTTP connections are not encrypted. What does this mean and why is it important? Investor.com is your trustworthy guide to the world of personal finance. SkyWest, Inc. (US:SKYW) All requests for updated information should also be reported directly to the SEC and/or FINRA. What does this mean and why is it important? 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. Chase Coleman's: Tiger Global Management. documented the history and events leading up to his contrarian but hugely successful bet against the real estate market For example, front-running is when a financial professional buys or sell securities ahead of their client. SCION ASSET MANAGEMENT, LLC ( CRD # 167772/SEC#:801-113529 ) The adviser's REGISTRATION status is listed below. Lets not forget that the student debt problem is built on a foundation of terrible major choices, Burry, 51, tweeted on Tuesday. Geo dropped approximately 0.1% in the past year. The Scion Group is the largest owner/operator of off-campus student housing communities globally. Most recent portfolio value is calculated to be $ 46,536,925 USD. See how we calculate 13F filing performance here. Grapevine, TX 76051. [28] In October 2021, after a 100% rise in Tesla's stock value, he revealed he was no longer shorting it. The Servicing Digital segment offers web and mobile solutions for consumers that deliver easy access to customized, timely information about their mortgages. He quickly earned extraordinary profits for his investors. Firm or an affiliate actively engages in business as a law firm or lawyer. After more than two years, on February 14, 2019, Scion Asset Management filed another 13F, showing Burry to hold numerous large-cap stocks and $103,528,000 13F assets under management, just above the threshold for filing. [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". [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. , whose value fell approximately 0.1% in the past six months. 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%. 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. The Scion Group announced the addition of 32 high-quality assets and approximately 20,000 beds to its portfolio of student housing communities. Five years later in 2013 Michael Burry reopened his fund with slightly changed name Scion Asset Management. The largest investments include Geo and Qurate Retail Inc, together worth $25.6 million. The GEO Group Inc (US:GEO) Red rows indicate closed positions. 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? The Scion Asset Management manager revealed the purchase of seven new stocks in the last quarter. In early January, he posted to his Twitter account that inflation had "peaked," but that this would not be the last peak of the cycle. This is a low margin business in the first place, and so despite the company posting record revenues last year, it saw a decline in earnings. Thank you for your interest in the U.S. Securities and Exchange Commission. A good way to understand Burry's thinking and Scion Asset Management's . Charlie Munger - Daily Journal Corp. Mailing Address 20665 4TH STREET SUITE 201 SARATOGA CA 95070. Business Address 20665 4TH STREET SUITE 201 SARATOGA CA 95070 408-441-8400. financing, asset management, . 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. 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. Read through our introductory course to financial advisors. What does this mean? The firm owned 95,150 shares of the company's stock after purchasing an additional 57,650 shares during the period. 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. By using this site, you are agreeing to security monitoring and auditing. The Scion Asset Management manager revealed the purchase of seven new stocks in the last quarter. Form 13F-HR - Quarterly report filed by institutional managers, Holdings: SEC Accession No. Last year was a turbulent one for China, marked by strict lockdowns and geopolitical and regulatory turmoil. Wolverine World Wide, Inc. (US:WWW) A self-regulatory organization or commodities exchange has found firm or an advisory affiliate to have been involved in a violation of its rules. What does this mean? What does this mean and why is it important? 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. The company has been growing rapidly over the past few years while retaining compelling profitability levels. Since 1999, Scion Advisory Services has been the sector's most trusted adviser, collaborating with clients on over 250 campuses and counting. Will His AI Plans Be Any Different? In comparison, the S&P 500 returned just under 3%, including dividends, over the same period. Quickly find out what the most recently closed or increased positions are. [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. [18] He faulted federal regulators for failing to listen to warnings from outside a closed circle of advisors. Greenhaven Associates Updated 10 Jan 2023. Scion was up 55%. The author may be long one or more stocks mentioned in this report. The firm may also use leverage and derivative strategies to increase the rate of client success. What does this mean and why is it important? Participation in the Certification program, including the payment of an annual fee to investor.com, does not guarantee or in any way bias investor.com's decision to award "Trusted by investor.com" status, and "Trusted by investor.com" status shall not constitute or be construed as an endorsement of any firm by 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. If you require advice in relation to any financial matter you should consult an appropriate professional. 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. 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. Scion Asset Management's public equity portfolio is heavily concentrated. The collapse of the real estate market in 2008 was a key event leading to the global financial crisis. This arrangement creates a conflict where the firm and its representatives may be motivated to insure clients with products, including annuities and life insurance, that generate high sales commissions when lower-cost alternatives may exist. And we could be headed for another recession. While Scion Asset Management advises clients across a variety of portfolio sizes, the average client balance is currently $72.9 million. 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. Warren Buffett's: Berkshire Hathaway. The S&P 500, widely regarded as the benchmark for the US market, returned just under 3%, including dividends over the same period. The following data is gathered from Scion Asset Management's latest 13F filing with the SEC for the reporting period of September 30, 2022. David Einhorn's: Greenlight Capital. Perform physically demanding work to maintain the asset, and other property features to minimize liability concerns. 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. CALIFORNIA LIMITED-LIABILITY COMPANY - OUT OF STATE. He then left to start his own hedge fund. Michael Burry does see a recession coming, but that hasn't stopped himrather his hedge fund Scion Asset Managementfrom stocking up on some positions likely to be hit hard by a downturn. Burry has a strictly traditional understanding of value. 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. 0001567619-21-010281.txt. The stock is now traded at around $14.430000. Others say the plan is too costly and burdensome on taxpayers. Under Bidens plan, the federal government would forgive up to $20,000 in student loans per borrower, depending on their income-based eligibility. Justice Brett Kavanaugh suggested it was problematic that Biden took executive action even though Congress has not passed legislation related to student debt. 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. So is Burry less bearish on the U.S. economy than he was last year? Firm or a related person trades securities for themselves that they also recommend to their clients. (Disclaimers: this is not investment advice. . I cover the recent 13F filings and the logic behind Michael Burry's po. 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. How does your firm mitigate conflicts that arise from managing accounts with differing fee structures? With GME then traded around $4, Burry disclosed he'd previously sent GME's board several letters recommending an aggressive share buyback. 66.7% of the portfolio companies 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. Hedge funds are required to report only their long positions, not their short positions. 340.42% 1Y 3Y 5Y 10Y. Dr. Burry does not differentiate between small-caps, mid-caps, tech stocks, or non-tech stocks. 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. Each month, investor.com helps thousands of Americans answer the question, "Can I trust you?". The impact to a portfolio due to this purchase was 0.65%. When? Some detractors have suggested that a cancellation of student debt would further fuel inflation that hit its highest level in decades last year. We use the change in the portfolio allocation because this is the most meaningful metric. . Firm or an advisory affiliate has previously had their authorization to act as an attorney, accountant, or federal contractor revoked or suspended. BBBY has plummeted by more than 95% from its 2021 peak to below $2 a share today . See the Top Performing Hedge-Funds > Michael Burry . While StockBrokers.com has all data verified by industry participants, it can vary from time to time. 2015-2023 Fintel Ventures LLC. We have concerns regarding capital management at . SCION ASSET MANAGEMENT, LLC. Michael Burry is an American investor, and hedge fund manager. SEC Form 13F Filing History. 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. At the age of two he lost his left eye to retinoblastoma[3] and has had a prosthetic eye ever since. Black Knight is a new holding for Scion Asset Management, initiated in its most recent quarterly filings. Why doesnt your firm use a secure website? Burry may have missed out on a big windfall by selling his stock, but he also avoided a dramatic decline. Yes or [9] While off duty at night, he worked on his hobby: financial investing. Scion Asset Management. 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, LLC: CHIEF EXECUTIVE OFFICER: direct: 2013-03-01: CLARKE BENNITT MANAGEMENT, LP: PRINCIPLE OWNER: indirect: 2005-02-01: 2006-01-20: BURRY, ANH-THI: TRUSTEE THE BURRY 2003 REVOCABLE TRUST: 05/01/2003: Indirect Other: Fund Name Position direct/indirect start date end date; SCION ASSET MANAGEMENT, LLC: Stock Company Name % of Portfolio Shares Owned Value Change in Shares Ownership History Some of the largest purchases done by Scion Asset Management are follows: Ace Ltd; The hedge fund owns about 50000 shares of ACE Ltd, which reflects about 7.89% of their portfolio. There are currently 6 companies in Mr. Burry's portfolio. 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. Specifically, his picks were published on message boards on the stock discussion site Silicon Investor back in 1996, with their returns being outstanding! 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. What does this mean and why is it important? Relative to the number of outstanding shares of Geo, Scion Asset Management owns more than approximately 0.1% of the company. At 06/30/2022: $3,309. 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. What does this mean? tips_and_updates Financial Advisor Education. Northport Investment Management, Albatross Investment Services, Lynn H. ORR Capital Management Group, Level Partners Management, Allvestments, Was this helpful? 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. For comparison, the S&P 500 ETF (SPY) generated annualized total returns of 7.5% over the same time period. The headquarters of Scion Asset Management is 20665 4th Street, Suite 201. Please send any feedback, corrections, or questions to support@suredividend.com. A quarter of the portfolio is made up of consumer discretionary companies. Based in Saratoga, Calif., Scion has just six employees, two of whom . For further detail, see our articles on different types of advisors and financial advisor services. Hedge Fund Manager. I was damned sure I was going to pay it off.. SCION ASSET MANAGEMENT, LLC is a financial services company based out of 20400 STEVENS CREEK BOULEVARD, CUPERTINO, California, United States. assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents. What does this mean? Does your firm recommend securities that it or its affiliates underwrite, or in which it serves as general or managing partner? For the most up-to-date information, please view the applicable SEC and FINRA reports above. 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. 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 . 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. subsequently closed the Scion Capital fund and has since launched his latest fund, Scion Asset Management. U.S Market Open - Market Closes in 49M 55S. 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. ; Text is available under the Creative Commons Attribution-ShareAlike License 3.0; additional terms may . Heejin Kim and Myungshin Cho (29 August 2019). Burry, who is primarily known for his "Big Short" position, has made predictions about 2023, and these may be well expressed in short positions. Point72 Asset Management . When I left residency at Stanford to gamble my future on what was to become, I had well into six figures of educational debt. , The portfolio numbers only nine equities, with The GEO Group accounting for 20.4% of its holdings. 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). These partnerships do not influence editorial content. in 2008. Visit Site, Is this your firm? Follow Tweet. Dear Members of the Board, Scion Asset Management, LLC and its affiliates ("Scion") own approximately 2,000,000 shares, or about 2.21%, of GameStop, Inc. ("GameStop") common stock. Here's what investors need to know about Michael Burry's long positions. 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. Saratoga, CA 95070. Portfolio 9 Options 0 Performance. This could be detrimental to a client during down markets. He has said, "Fresh, clean water cannot be taken for granted. Scion Asset Management has become increasingly popular due to Dr. Burrys ability to identify undervalued investment opportunities around the world. "[6] Burry was able to achieve these returns partly by shorting overvalued tech stocks at the peak of the internet bubble. He named it after Terry Brooks' The Scions of Shannara (1990), one of his favorite novels. Note: 13F filing performance is different than fund performance. Researcher and operations manager at DM Martins Research. 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. The concept of Value Investing can sum up Michael Burrys whole investment philosophy. 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. Details on the strike price of the puts, their value and whether they were part of a broader trade were not available. He has warned a severe recession on several occasions over the last year. The two most similar investment funds to Scion Asset Management are Centurylink Investment Management Co and Secrest Blakey & Associates. 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. While Scion Asset Managements portfolio lacks diversification, its holdings come with characteristics that reflect Dr. Burrys principles. [9] His son was diagnosed with Asperger syndrome, and Burry believes he himself has Asperger syndrome after reading about the disorder. Demand for the companys products has remained robust lately, but inflationary pressures on the expenses side of the income statement have suppressed profitability severely. As a consumer advocacy project, investor.com does not charge any licensing fees for earned state accolade badges. Bloomberg via Getty Images. 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. 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. 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? Ranked #44 out of 483 Hedge Fund Managers. It is now the funds fourth-largest holding, accounting for 10.7% of its holdings. 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.