This website is provided as is without any representations or warranties, express or implied. The total portfolio value may be much higher due to cash To file a complaint or dispute with this firm, please fill out the SEC Investor Complaint Form. I cover the recent 13F filings and the logic behind Michael Burry's po. Bailing generations out of those bad choices will mean more bad choices, tuition hikes, and terrible consequences for America, he added. tips_and_updates Financial Advisor Education. Five years later in 2013 Michael Burry reopened his fund with slightly changed name Scion Asset Management. Scion Asset Management has become increasingly popular due to Dr. Burrys ability to identify undervalued investment opportunities around the world. 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. of the fund's Consumer Discretionary sector allocation and has decreased its share price by approximately 0.1% in the past year. The funds top five holdings, which we analyze below, account for 72.2% of its total public equity exposure. What does this mean? 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 . If you require advice in relation to any financial matter you should consult an appropriate professional. Some detractors have suggested that a cancellation of student debt would further fuel inflation that hit its highest level in decades last year. 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. 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. . Hedge funds are required to report only their long positions, not their short positions. Thus, be mindful and conduct your own research before allocating your hard-earned money to any of these names. Currently tracking portfolios of 77 superinvestors. Wolverine World Wide, Inc. (US:WWW) Changes can be due to trades or changes in share prices. This form was filed on 2023-02-14 for the reporting period 2022-12-31. Relative to the number of outstanding shares of Geo, Scion Asset Management owns more than approximately 0.1% of the company. Researcher and operations manager at DM Martins Research. 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. Founded in 2003, Scion Asset Management, LLC is a private investment firm led by investing guru Dr. Michael J. Burry. 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. What does this mean? Scion Asset Management, LLC Holdings. Eventually Burry closed his fund and retired. Scion Asset Management Review. 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. *SEC data last verified February 17, 2023. Form 13F is required to be filed within 45 days of the end of a calendar quarter. Follow Tweet. [6] Scion Capital ultimately recorded returns of 489.34% (net of fees and expenses) between its November 1, 2000 inception and June 2008. Here's what investors need to know about Michael Burry's long positions. 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 . The next year, the S&P 500 fell again, by 22.1%, and Scion was up again: 16%. 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. Performance. [22] In 2020, the fund's largest investments were Alphabet Inc. ($121 million value) and Facebook ($24.4 million value). Under Bidens plan, the federal government would forgive up to $20,000 in student loans per borrower, depending on their income-based eligibility. 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. Furthermore, our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data. Scion Asset Managements portfolio is diversified across 5 sectors. Scion Asset Management Holdings Heatmap . These conflicts can negatively impact clients via hidden fees and overall higher costs. How do these benefits affect the firms selection of a broker-dealer partner? Firm or one of its employees previously has been subject to a suspension or expulsion or other restriction of activities by a Self-Regulating Organization or commodities exchange. What does this mean and why is it important? Filing Date. He then left to start his own hedge fund. The GEO Group Inc (US:GEO) Scion was up 55%. Sciens Capital Management Sciens Capital Management LLC is an alternative asset management firm founded in 1994. What does this mean? (Disclaimers: this is not investment advice. $48.3 Million Total portoflio value. Last year was a turbulent one for China, marked by strict lockdowns and geopolitical and regulatory turmoil. GameStop Stock: What the SEC Says About Direct Registration, Alibaba Group Holding Limited American Depositary Shares each representing eight. 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. Published on February 27th, 2023 by Nikolaos Sismanis. 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. Lets not forget that the student debt problem is built on a foundation of terrible major choices, Burry, 51, tweeted on Tuesday. Stocks with a size of more than $10 billion in market cap make up What does this mean? Our system found no disciplinary alerts. This means they effectively own 0.6% of the company. Bill Ackman's: Pershing Square Capital Management. Scion Asset Management is an investment fund managing more than $41.3 million ran by Michael Burry. | 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. These commissions may be earned from the sale of investment or insurance products and are paid by the companies providing the products being sold. The portfolio is made up of a total of 102 facilities, including 82,000 beds. All rights reserved. Saratoga, CA 95070. The bottom line has softened lately as a result of inflationary pressures and supply chain inefficiencies, but profits are still substantial. 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. Questions to ask Wolverine World Wide is a new holding for Scion Asset Management, initiated in its most recent quarterly filings. 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. Will any of my assets be invested in those products? Firm performs side-by-side management with accounts that have differing fee structures. Dr. Burry trimmed Scions position in The GEO Group by 47%, with the fund now owning around 0.85% of the companys outstanding shares. The Scion Group is the largest owner/operator of off-campus student housing communities globally. A domestic or foreign court has previously found firm or an advisory affiliate was involved in a violation of investment-related statutes or regulations. Scion Asset Management is an investment fund managing more than $41.3 million ran by Michael Burry. Dr. Burry does not differentiate between small-caps, mid-caps, tech stocks, or non-tech stocks. 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 Asset Management: Michael Burry: 22.59%: $46538000: 9: Top Holdings Largest Trades Portfolio Structure Sector Allocation Performance History. . Investors profit from puts when the . Does your firm perform side-by-side management? Relative to the number of outstanding shares of Geo, Scion Asset Management owns more than approximately 0.1% of the company. I was damned sure I was going to pay it off. Our searchable database of U.S.-based financial advisors includes more than 17,000 firms across the country. Aside from potential increases to the cost of education, Burry did not elaborate on what terrible consequences he foresees for the country. 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 is currently facing heavy challenges, including all major banks cutting ties with private prisons and President. Questions to ask He has Rusyn ancestry. 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. , 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. Keep reading this article to learn more about Scion Asset Management. Bidens orders, which directed the attorney general not to renew Justice Department contracts with privately operated criminal detention facilities. All rights reserved. Firm or an advisory affiliate was previously found to have made false statements, omissions, or being dishonest and unfair by a regulatory agency other than the SEC or CFTC. Actual Assets Under Management (AUM) is this value plus cash (which is not disclosed). For comparison, the S&P 500 ETF (SPY) generated annualized total returns of 7.5% over the same time period. It's not hard.". 0001567619-21-015632. Portfolio Gain +257.56%. 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. 2022-07-28: Important Note - We have changed the treatment of the, LILAK / Liberty Latin America Ltd Class C. And JD.com is in a similar situation, being 57% below its peak in February 2021. Burry predicted, "Fed will cut and government will stimulate. Please see our General Disclaimers for more information. Alibaba Group Holding Limited ADR (US:BABA) The company has been growing rapidly over the past few years while retaining compelling profitability levels. Unlike HTTPS connections, HTTP connections are not encrypted. These filings are called "notice filings". the total portfolio value. Black Knight Inc (US:BKI) He had already built a reputation as an investor at the time by exhibiting success in value investing. The Software Solutions segment provides software and hosting solutions comprising MSP, a SaaS application platform for mortgages, home equity loans, and lines of credit. There are 3 companies that go by the name of Scion Asset Management, LLC. A good way to understand Burry's thinking and Scion Asset Management's . That would put the U.S. in a recession under "any definition.". [19] He has focused much of his attention on investing in water, gold, and farm land. Description. Portfolio value: $46M+ Period: 2022 Q4. Does your fim accept soft-dollar benefits? in 2008. Scion Asset Management, LLC initiated holding in Lumen Technologies Inc. [28] In October 2021, after a 100% rise in Tesla's stock value, he revealed he was no longer shorting it. 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. [30], Burry is married, with children, and was living in Saratoga, California in 2010. Will anyone that was involved be involved with my accounts in any capacity? approximately 0.1% of the total holdings value. 18951. What does this mean? Which securities does your firm trade for itself that it will also be recommending to me? Scion Asset Management is a small firm focused on serving institutional investors, and pooled investment vehicles in particular. Nevertheless, most stocks in the fund seem to be bearing their fair share of risks. Scion Asset Management a Portfolio Activity as reported in the most recent 13F form published on Dec 31, 2022. ", "Why Is Michael Burry Investing In Water? Additionally, the company has been utilizing loopholes through third parties, which essentially still allows it to deal with federal agencies. [32], Burry was highly critical of the lockdowns during the COVID-19 pandemic in the United States.[33]. Currently, Scion Asset Management's portfolio is worth at least $41.3 million. Primary Business Name: SCION ASSET MANAGEMENT, LLC CRD Number: 167772 Other-Than-Annual Amendment - All Sections Rev. Bruce Berkowitz's: Fairholme Capital Management. 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. Top 50 Scion Asset Management Holdings . Michael Burry . The Scion Group announced the addition of 32 high-quality assets and approximately 20,000 beds to its portfolio of student housing communities. This could be detrimental to a client during down markets. Particularly, in 2005, Dr. Burry started to concentrate on the subprime market. Common Stock (US:US19247G1076) The largest investments include Geo and Qurate Retail Inc, together worth $25.6 million. For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. The president and supporters of his plan argue student loan debt forgiveness will provide much-needed relief to million debt-saddled Americans. Michael Burry of Scion Asset Management. The firm owned 95,150 shares of the company's stock after purchasing an additional 57,650 shares during the period. Is your firm affiliated with a law firm in any capacity? He quickly earned extraordinary profits for his investors. Burry has amassed more than 1.4 million followers on Twitter, where he frequently tweets and then deletes his predictions about the US economy. As a result, unlike hedge funds, there is no historical performance for any financial advisory firm. 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. Chase Coleman's: Tiger Global Management. Black Knight is a new holding for Scion Asset Management, initiated in its most recent quarterly filings. , JD.com, Inc. (US:JD) Qurate Retail Inc and bought 5,000,000 shares worth $10.1 million. Does your firm offer mutual funds that have 12b-1 fees? Will any of my assets be invested in those products? 12.25% 3-Year Performance. He named it after Terry Brooks' The Scions of Shannara (1990), one of his favorite novels. In January, Burry made predictions for an economic downturn in 2023. 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 . Financial professionals should disclose all positions they hold (or have sold short) that they will also be recommending to their clients. 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. Charles Bobrinskoy - Ariel Focus Fund Updated 11 Jan 2023. How does your firm mitigate conflicts that arise from managing accounts with differing fee structures? Charlie Munger - Daily Journal Corp. assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents. 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. 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 . Why doesnt your firm use a secure website? "[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, LLC is a financial services company based out of 20400 STEVENS CREEK BOULEVARD, CUPERTINO, California, United States. Dr. Michael Burry's Scion Asset Management disclosed holdings on Feb. 15 for the first time in over two years. Common Stock (US:US19247G1076) 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. "[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. Each month, the investor.com Trust algorithm downloads the latest regulatory data from the SEC IAPD database. 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. 1,", "A Primer on Scion Capitals Subprime Mortgage Short", "Scion Asset Management - Quarterly Holdings Reports", https://en.wikipedia.org/w/index.php?title=Michael_Burry&oldid=1136913298, University of California, Los Angeles alumni, Vanderbilt University School of Medicine alumni, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 1 February 2023, at 20:47. Sensitive information sent over an HTTP connection can easily be eavesdropped on by third-parties. For more information, please see the SECs Web Site Privacy and Security Policy. What does this mean? 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, Burry tweeted Wednesday. 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. Eventually, Burry's analysis proved correct: He made a personal profit of $100 million and a profit for his remaining investors of more than $700 million. 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. [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. Written by investor.com. The fund's top five holdings, which we analyze below, account for 72.2% of its total public . Updated 05 Jan 2023. Since Jun 2013. While partners may pay to provide offers or be featured, e.g. They contribute around 66%, 13%, 11 and 9% of total revenues, respectively. Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens. This makes their stake in Geo total 2,019,150 shares worth $15.5 million. What conflicts arise from this relationship? 1-Year Performance. Heejin Kim and Myungshin Cho (29 August 2019). Coherent Corp. produces and manufactures, and sells engineered materials, optoelectronic components, and devices internationally. The firm prefers to employ long/short, market neutral, and activist strategies. Burry was born and grew up in San Jose, California. No. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. The headquarters of Scion Asset Management is 20665 4th Street, Suite 201. The Scion Asset Management manager revealed the purchase of seven new stocks in the last quarter. The portfolio numbers only nine equities, with The GEO Group accounting for 20.4% of its holdings. Any data inaccuracies, please contact our team. The investment fund's only holding now is The . 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. He also urged investors to liquidate their stocks. Scion Asset Management - Michael Burry assets under management (13F Holdings listing stock ownership and transaction history) provided by Insider Monkey. Firm or an advisory affiliate has previously been fined or ordered to cease and desist activity by the SEC or CFTC. The conservative-majority Supreme Court appeared skeptical of Bidens plan during hearings this week, raising doubts about the likelihood it will receive final approval. There are currently 6 companies in Mr. Burry's portfolio. We reserve the right to block IP addresses that submit excessive requests. "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. The average market cap of the portfolio companies is close to $2.02 billion. , whose value fell approximately 0.1% in the past six months. ; Text is available under the Creative Commons Attribution-ShareAlike License 3.0; additional terms may . , What conflicts do I need to be made aware of? 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.