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. Researcher and operations manager at DM Martins Research. Thus, be mindful and conduct your own research before allocating your hard-earned money to any of these names. 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. 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. documented the history and events leading up to his contrarian but hugely successful bet against the real estate market <style> body { -ms-overflow-style: scrollbar; overflow-y: scroll; overscroll-behavior-y: none; } .errorContainer { background-color: #FFF; color: #0F1419; max-width . Scion Asset Management, registered in 2018, serves 2 state (s) with a licensed staff of 4 advisors. [9][31][6], He is a fan of heavy metal music, including bands such as Obituary, Lamb of God, Amon Amarth, Slipknot, King Diamond and Pantera. 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 . Will anyone that was involved be involved with my accounts in any capacity? Thanks for supporting the Wall Street Memes). 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: What does this mean? Private prison giants The GEO Group accounts for 20.4% of Scion Assets management public equity holdings. The Servicing Digital segment offers web and mobile solutions for consumers that deliver easy access to customized, timely information about their mortgages. The majority of the companies in the funds portfolio are large-cap stocks. How does your firm mitigate conflicts that arise from managing accounts with differing fee structures? Five years later in 2013 Michael Burry reopened his fund with slightly changed name Scion Asset Management. Co-producer of The Street's financial channels: Apple Maven, Amazon Maven and Wall Street Memes. Scion Asset Management a Portfolio Activity as reported in the most recent 13F form published on Dec 31, 2022. Saratoga, CA 95070, 30 Burton Hills Blvd Suite 315, Nashville, Tennessee 37215. BBBY has plummeted by more than 95% from its 2021 peak to below $2 a share today . He looks for investments in undervalued companies with strong long-term prospects. Burry predicted Tesla stock would collapse like the housing bubble,[27] saying that "my last Big Short got bigger and Bigger and BIGGER" and taunted Tesla bulls to 'enjoy it while it lasts. 20665 4th Street, Suite 201. Saratoga, CA 95070. Bloomberg's Alix Steel and Paul Sweeney harness the power of Bloomberg Intelligence to provide in-depth research and data on more than 2,000 companies and 130 industries. 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). Scion Asset Managements portfolio is diversified across 5 sectors. U.S Market Open - Market Closes in 49M 55S. 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. During its latest 13F filing, Scion Asset Management executed the following notable portfolio adjustments: Scion Asset Managements public equity portfolio is heavily concentrated. 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. 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. Each month, the investor.com Trust algorithm downloads the latest regulatory data from the SEC IAPD database. Is your firm a broker-dealer or are you affiliated with one? Read through our introductory course to financial advisors. This could be detrimental to a client during down markets. Relative to the previous quarter there was a little reshuffling of his holdings. Dr. Burry trimmed Scions position in The GEO Group by 47%, with the fund now owning around 0.85% of the companys outstanding shares. 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? Primary Business Name: SCION ASSET MANAGEMENT, LLC CRD Number: 167772 Other-Than-Annual Amendment - All Sections Rev. 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. Portfolio value: $46M+ Period: 2022 Q4. Dr. Burry does not differentiate between small-caps, mid-caps, tech stocks, or non-tech stocks. What does this mean? 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. Heejin Kim and Myungshin Cho (29 August 2019). Here's what investors need to know about Michael Burry's long positions. Firm or an affiliate actively engages in business as a law firm or lawyer. Investor.com relies on regulatory data from the SEC to rate and review financial advisor firms. In Michael Burry's current portfolio as of 2022-12-31, the top 5 holdings are The GEO Group Inc (GEO), Black Knight Inc . Greenhaven Associates Updated 10 Jan 2023. exclusive offers, they cannot pay to alter our recommendations, advice, ratings, or any other content throughout the site. Fintel is a registered trademark. Firms that earn a 4.5 or 5 star rating are also eligible to receive the "Trusted by investor.com" badge. Based in Saratoga, Calif., Scion has just six employees, two of whom . 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. When? The company is currently facing heavy challenges, including all major banks cutting ties with private prisons and President. And JD.com is in a similar situation, being 57% below its peak in February 2021. When I left residency at Stanford to gamble my future on what was to become, I had well into six figures of educational debt. These positions were updated on November 14th based on the funds latest 13F filing. As a result, the company will soon be able to self-fund its growth and overall operations. 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. 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. 2021-08-16. Scion Asset Management, LLC is a private investment firm founded and led by Dr. Michael J. Burry and The Board of Directors. Performance. 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. the total portfolio value. I was damned sure I was going to pay it off. Burry, who is primarily known for his "Big Short" position, has made predictions about 2023, and these may be well expressed in short positions. In addition, the fund holds 5,000,000 shares of . Scion was up 55%. Common Stock (US:US19247G1076) 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'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. Hedge funds are required to report only their long positions, not their short positions. While StockBrokers.com has all data verified by industry participants, it can vary from time to time. Most recent portfolio value is calculated to be $ 46,536,925 USD. Burry predicted, "Fed will cut and government will stimulate. 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. For example, front-running is when a financial professional buys or sell securities ahead of their client. 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. No. 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 . Firm actively engages as insurance brokers or agents, or they are affiliated with an insurance company or agency. [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]. The firm may also use leverage and derivative strategies to increase the rate of client success. Company profile page for Scion Asset Management LLC including stock price, company news, press releases, executives, board members, and contact information Questions to ask Alibaba is down 71% from its October 2020 peak. Burry's bearish thesis is that the American economy will go into recession in 2023 regardless of how we define the term. What does this mean and why is it important? Last year, the nonpartisan Committee for a Responsible Federal Budget found the plan will likely cost an astronomical $400-$600 billion over time. Checks take place monthly. What does this mean? This form was filed on 2023-02-14 for the reporting period 2022-12-31. 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. Questions to ask Firm can legally elect to accept commissions for their investment advisory services. The turnover rate is 70%. Will any of my assets be invested in those products? SCION ASSET MANAGEMENT LLC Institutional Portfolio | Nasdaq. The largest investments include Geo and Qurate Retail Inc, together worth $25.6 million. Wolverine World Wide is a new holding for Scion Asset Management, initiated in its most recent quarterly filings. 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. GameStop Corp. 625 Westport Parkway. [9] While off duty at night, he worked on his hobby: financial investing. The author may be long one or more stocks mentioned in this report. Alibaba is a new holding for Scion Asset Management, initiated in its most recent quarterly filings. Aside from potential increases to the cost of education, Burry did not elaborate on what terrible consequences he foresees for the country. 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. 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. That would put the U.S. in a recession under "any definition.". Charles Bobrinskoy - Ariel Focus Fund Updated 11 Jan 2023. It would appear that Burry is betting that China will rebound. With GME then traded around $4, Burry disclosed he'd previously sent GME's board several letters recommending an aggressive share buyback. In total, Scion Asset Management manages $291.7 million in assets. Geo dropped approximately 0.1% in the past year. 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. "[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. 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. By using this site, you are agreeing to security monitoring and auditing. Musk Made a Mess at Twitter. [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. 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. What does this mean? Regulatory disclosures state that firm sells proprietary investments and products. As of 09/30/2022, below is a summary of the Scion Asset Management LLC top holdings by largest position size, as . Eventually Burry closed his fund and retired. Dr. Michael J. Burry is a well known investor and hedge fund manager of Scion Asset Management, LLC Holdings. What does this mean? Which securities does your firm trade for itself that it will also be recommending to me? Disclaimer: It is our organization's primary mission to provide reviews, commentary, and analysis that are unbiased and objective. Please see our General Disclaimers for more information. In the most recent 13F filing, Scion Asset Management revealed that it had opened a new position in Furthermore, Burry has predicted a vicious cycle in which the Fed raises interest rates to a level not seen since the 2008 crisis. On February 14, Michael Burry filed his company's holdings report with the SEC. , 223.17% 10-Year Performance. [19] He has focused much of his attention on investing in water, gold, and farm land. 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). Steven Romick - FPA Crescent Fund Updated 12 Jan 2023. Steven Cohen's: Point72 Asset Management. Questions to ask Scion Asset Management, LLC operates as an investment firm. They manage After medical school, Burry worked as a Stanford Hospital neurology resident, then a Stanford Hospital pathology resident. Questions to ask Details on the strike price of the puts, their value and whether they were part of a broader trade were not available. How do these benefits affect the firms selection of a broker-dealer partner? Scion Asset Management - Michael Burry assets under management (13F Holdings listing stock ownership and transaction history) provided by Insider Monkey. The funds top five holdings, which we analyze below, account for 72.2% of its total public equity exposure. What happened? [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. approximately 0.1% of the total holdings value. To see the historical data of Scion Asset Management's portfolio holdings please click on the "2022 Q4" dropdown menu and select the date. For more information, contact opendata@sec.gov. To file a complaint or dispute with this firm, please fill out the SEC Investor Complaint Form. 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. Why has Burry, who is bearish on the . I was damned sure I was going to pay it off.. Questions to ask 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. 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 . 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. Operating as an online business, this site may be compensated through third party advertisers. The next year, 2003, the stock market finally turned around and rose 28.69%, but Burry beat it again, with returns of 50%. More than 90% of the beds are located in the US. The companys operating income can be divided into three segments: US Secure Services, Electronic Monitoring and Supervision Services, Reentry Services, and International Services. While this allows for a broader range of investment options and management styles to be offered by a firm, it can create an incentive for the firm to put their financial interests ahead of your own. The current portfolio value is calculated to be $47.00 Mil. Scion Asset Management is a small firm focused on serving institutional investors, and pooled investment vehicles in particular. Scion Asset Management: Michael Burry: 22.59%: $46538000: 9: Top Holdings Largest Trades Portfolio Structure Sector Allocation Performance History. What does this mean? : DE | Fiscal Year End: 1231. Each month, investor.com helps thousands of Americans answer the question, "Can I trust you?". It is now the funds third-largest holding, accounting for 12.8% of its holdings. The president and supporters of his plan argue student loan debt forgiveness will provide much-needed relief to million debt-saddled Americans. Firm or related person receives soft-dollar benefits in connection with client securities transactions. 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 . Scion Asset Management, LLC has disclosed 9 total holdings in their latest 13F filing with the SEC for the portfolio date of 2022-12-31. SEC Form 13F Filing History. Questions to ask For the most up-to-date information, please view the applicable SEC and FINRA reports above. , SCION ASSET MANAGEMENT, LLC | 2,358 followers on LinkedIn. The Scion Group is the largest owner/operator of off-campus student housing communities globally. What does this mean? Charlie Munger - Daily Journal Corp. Michael Burry's hedge fund Scion Asset Management is based in Saratoga, California and manages capital for 5 clients. This value is significant in that it is the last known price at which the security was still held. *SEC data last verified February 17, 2023. The bottom line has softened lately as a result of inflationary pressures and supply chain inefficiencies, but profits are still substantial. For comparison, the S&P 500 ETF (SPY) generated annualized total returns of 7.5% over the same time period. What does this mean and why is it important? [32], Burry was highly critical of the lockdowns during the COVID-19 pandemic in the United States.[33]. Burry was born and grew up in San Jose, California. 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. Louis Bacon's: Moore Capital Management. 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 . To see Scion Asset Management's original 13F reports (2022 Q4), please click on the "important" button. He has stated more than once that his investment style is based on Benjamin Graham and David Dodds 1934 book Security Analysis. Bloomberg via Getty Images. As a consumer advocacy project, investor.com does not charge any licensing fees for earned state accolade badges. He only looks for their undervalued elements, regardless of their sector and class. 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. Ultimately, Burrys analysis proved right. 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. What does this mean? Point72 Asset Management . '[26] In May 2021, it was reported that he held puts on over 800,000 shares of Tesla. Michael Burry is likely betting on the stocks valuation levels normalizing as we advance, which sounds like a reasonable investment case given Alibabas excellent financials. ", "Why Is Michael Burry Investing In Water? He quickly earned extraordinary profits for his investors. Scion Asset Management manages $291.7 million and provides investment advisory services for 4 clients (1 advisor/client ratio). 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. Lets not forget that the student debt problem is built on a foundation of terrible major choices, Burry, 51, tweeted on Tuesday. Financial professionals should disclose all positions they hold (or have sold short) that they will also be recommending to their clients. Firm offers mutual funds that carry 12b-1 fees, which increases the total annual cost of owning the fund (with no guarantee of higher returns). 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. Since Jun 2013. 66.7% of the portfolio companies "[6] Burry was able to achieve these returns partly by shorting overvalued tech stocks at the peak of the internet bubble. Black Knight Inc (US:BKI) The portfolio numbers only nine equities, with The GEO Group accounting for 20.4% of its holdings. He had already built a reputation as an investor at the time by exhibiting success in value investing. 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. What does this mean and why is this important? How does your firm approach insurance sales? Scion Capital returned 489.34% (net of fees and expenses) between November 1, 2000 and June 2008 compared to 3% total return from S&P 500 during the same time frame. 100.0% This page was last edited on 1 February 2023, at 20:47 (UTC). MGM Resorts International (US:MGM) Justice Brett Kavanaugh suggested it was problematic that Biden took executive action even though Congress has not passed legislation related to student debt. Bill Ackman's: Pershing Square Capital Management. On the other hand, small-cap stocks make up only approximately 0.1% of the portfolio. See how we calculate 13F filing performance here. The average market cap of the portfolio companies is close to $2.02 billion. 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. FINRA data last verified February 17, 2023. Form 13F is required to be filed within 45 days of the end of a calendar quarter. Sciens Capital Management Sciens Capital Management LLC is an alternative asset management firm founded in 1994. Here you can find the latest trades based on Burry's 13F filings and insider trades. They contribute around 66%, 13%, 11 and 9% of total revenues, respectively. The impact to a portfolio due to this purchase was 0.65%. Rather, he pays attention to off-balance sheet metrics and naturaly, free cash flow. 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. Firms having met these requirements may further elect to participate in the investor.com Certification program for an annual fee paid to investor.com. As a result, we do not support personal reviews on the site. Demand for the companys products has remained robust lately, but inflationary pressures on the expenses side of the income statement have suppressed profitability severely. CALIFORNIA LIMITED-LIABILITY COMPANY - OUT OF STATE. The largest investments include Geo and Qurate Retail Inc, together worth $25.6 million. In response, Alibaba has been repurchasing stock in bulk. What does this mean and why is it important? What conflicts do I need to be made aware of? 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. Top 50 Scion Asset Management Holdings . To illustrate how successful Dr. Burrys picks were from the origins of Scion Asset Management to the Great Financial Crisis, the hedge fund recorded returns of 489.34% (net of fees and expenses) between its inception in November 2000 to June 2008. Additionally, the company has been utilizing loopholes through third parties, which essentially still allows it to deal with federal agencies. He became famous when he was played by Christian Bale in the blockbuster movie 'The Big Short' based on the best selling book by author Michael Lewis.Dr. 0001567619-21-015632. 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. Published on February 27th, 2023 by Nikolaos Sismanis.