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He has 25 years of experience as a finance and accounting executive, having served major private and public real estate firms as chief accounting officer, chief financial officer and senior vice president of strategic initiatives. Note: 13F filing performance is different than fund performance. : DE | Fiscal Year End: 1231. 2023 NYP Holdings, Inc. All Rights Reserved, King of debt Joe Biden absurdly labels himself a deficit hawk, Teacher Randi Weingartens ignorant, anti-democratic rant, Bidens Ohio failure: Letters to the Editor March 2, 2023, Randi Weingarten has maniacal meltdown at student debt relief rally. Actual Assets Under Management (AUM) is this value plus cash (which is not disclosed). , Data is sourced from 13D/13G, 13F, and N-Q filings. The holding were 650,000 shares as of 2021-03-31. Charlie Munger - Daily Journal Corp. The funds top five holdings, which we analyze below, account for 72.2% of its total public equity exposure. Chase Coleman's: Tiger Global Management. : 000000000 | State of Incorp. [6] Scion Capital ultimately recorded returns of 489.34% (net of fees and expenses) between its November 1, 2000 inception and June 2008. , whose value fell approximately 0.1% in the past six months. Growth has also been smooth for the company due to the recurring nature of its business model. Particularly, in 2005, Dr. Burry started to concentrate on the subprime market. 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? In that case, interest rates would pivot and rates would be cut while the government would announce a stimulus package to help households suffering from a failing economy. Strategies arent specified: There isnt a lot of specificity provided . Fintel makes no representations or warranties in relation to this website or the information and materials provided on this website. 2023 Reink Media Group LLC. Hedge Fund and Insider Trading News: Michael Burry, Bridgewater , What does this mean and why is it important? What percentage of income does your firm receive from fees versus commissions? Sciens launched the Sciens Water Opportunities Fund in 2018 to make investments in the U.S. water sector. * Reported Price is the price of the security as of the portfolio date. 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. Please send any feedback, corrections, or questions to support@suredividend.com. SCION ASSET MANAGEMENT, LLC | 2,358 followers on LinkedIn. Current guidelines limit users to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests. This video discusses the update to Michael Burry's portfolio (Scion Asset Management). JD.com, Inc. (US:JD) Furthermore, our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data. [28] In October 2021, after a 100% rise in Tesla's stock value, he revealed he was no longer shorting it. 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. Note: We do not offer technical support for developing or debugging scripted downloading processes. [29] During the second quarter of 2021, he has reported to hold puts on almost 31 million dollars on the ARKK ETF innovation index managed by Ark Invest. What does this mean? SCION ASSET MANAGEMENT, LLC | LinkedIn $48.3 Million Total portoflio value. Based in Saratoga, Calif., Scion has just six employees, two of whom . So is Burry less bearish on the U.S. economy than he was last year? A domestic or foreign court has previously found firm or an advisory affiliate was involved in a violation of investment-related statutes or regulations. 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. Burry may have missed out on a big windfall by selling his stock, but he also avoided a dramatic decline. Point72 Asset Management . Scion Asset Management, LLC (Filer) CIK: 0001649339 (see all company filings) IRS No. Firm performs side-by-side management with accounts that have differing fee structures. | 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. Maintenance Technician Job in Minneota, MN at The Scion Group Scion Asset Management, LLC's new positions include The average market cap of the portfolio companies is close to $2.02 billion. I cover the recent 13F filings and the logic behind Michael Burry's po. Furthermore, Burry has predicted a vicious cycle in which the Fed raises interest rates to a level not seen since the 2008 crisis. . 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: Here you can find the latest trades based on Burry's 13F filings and insider trades. Michael Burry of Scion Asset Management. compensation-related conflicts of interest, Types of Financial Advisors and How to Choose, What's a Fiduciary (and Why It Matters So Much). 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. has disclosed 9 total holdings in their latest SEC filings. 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 . Monte Huber is responsible for leading Scion's financial planning, reporting and risk management. The Scion Asset Management manager revealed the purchase of seven new Verition Fund Management LLC Acquires 57,650 Shares of ScION Tech What does this mean and why is this important? The SEC or CFTC has found firm or an advisory affiliate to have been involved in a violation of its rules. [23], Burry initiated short position(s) on Tesla before or around early December 2020, according to a now-deleted tweet[24][25] and likely added to his short positions[26][27] after the market cap of Tesla surpassed that of Facebook. 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. Alibaba is down 71% from its October 2020 peak. The portfolio numbers only nine equities, with The GEO Group accounting for 20.4% of its holdings. , 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. We use the change in the portfolio allocation because this is the most meaningful metric. Cassandra B.C. (@michaeljburry) / Twitter decreased its share price by approximately 0.1%, Geo total 2,019,150 shares worth $15.5 million. What does this mean and why is it important? Scion Asset Management, LLC is a private investment firm founded and led by Dr. Michael J. Burry In January, Burry made predictions for an economic downturn in 2023. 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What does this mean? 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. Specifically, The GEO Group has suspended its dividends, which has allowed the company to deleverage rapidly. 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. This could be detrimental to a client during down markets. Scion Asset Management Review. The following data is gathered from Scion Asset Management's latest 13F filing with the SEC for the reporting period of September 30, 2022. Thank you for your interest in the U.S. Securities and Exchange Commission. Founded in 2003, Scion Asset Management, LLC is a private investment firm led by investing guru Dr. Michael J. Burry. Dr. Michael Burry of Scion Asset Management and of The Big Short fame has recently re-surfaced in shares of Gamestop (GME). Bidens orders, which directed the attorney general not to renew Justice Department contracts with privately operated criminal detention facilities. On this Wikipedia the language links are at the top of the page across from the article title. That said, the company has navigated these challenges quite competently, which, combined with its deep-value characteristics, explained why Dr. Burry has bet heavily on The GEO Group. Saratoga, CA 95070. The advisory also believes in using fundamental analysis methods to assess . Scion Asset Management currently serves clients in the following states: CA, TN. Scion Asset Management is headquartered in Saratoga, California. 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. This value is significant in that it is the last known price at which the security was still held. the total portfolio value. Dr. Burry trimmed Scions position in The GEO Group by 47%, with the fund now owning around 0.85% of the companys outstanding shares. Wolverine World Wide designs, produces, and distributes footwear, apparel, and other accessories globally. Scion Asset Management 13F annual report (2023) | wallmine Scion Asset Management General Information. Founded in 2013, Scion Asset Management is a multi-strategy hedge fund manager based in Saratoga, California. Average metrics of all companies in portfolio . Sensitive information sent over an HTTP connection can easily be eavesdropped on by third-parties. The conservative-majority Supreme Court appeared skeptical of Bidens plan during hearings this week, raising doubts about the likelihood it will receive final approval. Firm or a related person recommends the purchase of securities where the firm or a related person serves as an underwriter or general or managing partner. He famously bet against the real estate market in 2008 which is documented in the movie "The Big Short", based on the best-selling book by Michael Lewis. What does this mean and why is it important? Some firms receive these fees as payments, which creates an incentive to promote them. The collapse of the real estate market in 2008 was a key event leading to the global financial crisis. 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. [13], In 2005, Burry started to focus on the subprime market. Limited offerings: Scion Asset Management isnt an advisory firm as much as it is an asset management company. SCION ASSET MANAGEMENT, LLC SC 13D Filing Concerning GME on 2020-04-02 223.17% 10-Year Performance. Fintel is a registered trademark. Current Michael Burry Portfolio 2021 Q1 Update - New Trader U Keep reading this article to learn more about Scion Asset Management. In total, Scion Asset Management manages $291.7 million in assets. Is your firm affiliated with a law firm in any capacity? Scion Asset Management is a small firm focused on serving institutional investors, and pooled investment vehicles in particular. 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. Firms having met these requirements may further elect to participate in the investor.com Certification program for an annual fee paid to investor.com. The Scion Group announced the addition of 32 high-quality assets and approximately 20,000 beds to its portfolio of student housing communities. Financial plans and investment portfolios are always unique to the client's personal financial situation. [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. , The Board of Directors. Charles Bobrinskoy - Ariel Focus Fund Updated 11 Jan 2023. As InvestorPlace's Eddie Pan reported on Aug. 15, Burry's firm Scion Asset Management has sold all of its U.S.-listed positions except for one GEO. IAPD - Investment Adviser Public Disclosure - Homepage 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. The investor's firm, Scion Asset Management, held bearish put options on over 800,000 shares of Elon Musk's . MGM Resorts International (US:MGM) Michael Burry (Scion Asset Management, LLC) Performance - Stockcircle Performance. Each month, the investor.com Trust algorithm downloads the latest regulatory data from the SEC IAPD database. If a user or application submits more than 10 requests per second, further requests from the IP address(es) may be limited for a brief period. The portfolio numbers only nine equities, with The GEO Group accounting for 20.4% of its holdings. SCION ASSET MANAGEMENT, LLC is a financial services company based out of 20400 STEVENS CREEK BOULEVARD, CUPERTINO, California, United States. What does this mean and why is this important? , 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. A regulatory agency has previously denied, suspended, or revoked the firms or an advisory affiliates registration or license or otherwise restricted their activities. The fund has around $291.7 million in assets under management (AUM), $41.3 million of which is allocated to the firms public equity portfolio. After medical school, Burry worked as a Stanford Hospital neurology resident, then a Stanford Hospital pathology resident. The Software Solutions segment provides software and hosting solutions comprising MSP, a SaaS application platform for mortgages, home equity loans, and lines of credit. Scion Asset Management Holdings Heatmap . Why Didn't the Fed? Company metrics from any one time period can be misleading based on the underlying state of the economy and macros that may benefit or harm the company at a given point in time. Scion Asset Management manages $291.7 million and provides investment advisory services for 4 clients (1 advisor/client ratio). What does this mean? Scion Asset Management Review 2023 | investor.com The Scion Group is the largest owner/operator of off-campus student housing communities globally. 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 purchase prices were between $9.72 and $15.36, with an estimated average price of $12.41. At the age of two he lost his left eye to retinoblastoma[3] and has had a prosthetic eye ever since. The two most similar investment funds to Scion Asset Management are Centurylink Investment Management Co and Secrest Blakey & Associates. Stock Company Name % of Portfolio Shares Owned Value Change in Shares Ownership History It is now the funds second-largest holding, accounting for 18.3% of its holdings. It is now the funds third-largest holding, accounting for 12.8% of its holdings. What does this mean? Last year was a turbulent one for China, marked by strict lockdowns and geopolitical and regulatory turmoil. Execute maintenance objectives and daily assignments with the Facilities Supervisor. 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. This SEC practice is designed to limit excessive automated searches on SEC.gov and is not intended or expected to impact individuals browsing the SEC.gov website. Michael Burry - Scion Asset Management, LLC - Portfolio Holdings - Fintel What does this mean and why is it important? Michael Burry's hedge fund Scion Asset Management is based in Saratoga, California and manages capital for 5 clients. 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. . '[26] In May 2021, it was reported that he held puts on over 800,000 shares of Tesla. Michael Burry . Latest Holdings, Performance, AUM (from 13F, 13D). BBBY has plummeted by more than 95% from its 2021 peak to below $2 a share today . Finally, the Loss Mitigation segment develops solutions that support retention and liquidation workouts. Louis Bacon's: Moore Capital Management. [22] In 2020, the fund's largest investments were Alphabet Inc. ($121 million value) and Facebook ($24.4 million value). Questions to ask These commissions may be earned from the sale of investment or insurance products and are paid by the companies providing the products being sold. Scion Asset Management 13F annual report (2023) | wallmine Scion Announces Addition of 20,000 Beds to its Portfolio of Student [18] He faulted federal regulators for failing to listen to warnings from outside a closed circle of advisors. Musk Made a Mess at Twitter. Scion Asset Management, LLC Bu - GuruFocus.com 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. How many times did it occur? 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. David Einhorn's: Greenlight Capital. The Scion Asset Management office and employees reside in Saratoga, California. These partnerships do not influence editorial content. What does this mean? For example, front-running is when a financial professional buys or sell securities ahead of their client. These conflicts can negatively impact clients via hidden fees and overall higher costs. While partners may pay to provide offers or be featured, e.g. 0001567619-21-010281.txt. Scion Asset Management 13F annual report. This conclusion led him to short the market by persuading Goldman Sachs and other investment firms to sell him credit default swaps against subprime deals he saw as vulnerable. 1-Year Performance. 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 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. SCION ASSET MANAGEMENT, LLC ( CRD # 167772/SEC#:801-113529 ) The adviser's REGISTRATION status is listed below. Scion Asset Management, LLC - Dover DE, Madison WI, and Saratoga CA Please see our General Disclaimers for more information. By using this site, you are agreeing to security monitoring and auditing. Ranked #44 out of 483 Hedge Fund Managers. Firm or related person receives soft-dollar benefits in connection with client securities transactions. Geo dropped approximately 0.1% in the past year. Financial planning services can include tax planning, estate planning, retirement planning, or life-based event planning such as saving for college, getting married, purchasing a home, paying down debt, or planning an inheritance. What does this mean and why is it important? "[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. Scion Asset Management | Michael Burry's 6 Stock Portfolio Analyzed Details on the strike price of the puts, their value and whether they were part of a broader trade were not available. 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. Questions to ask How does your firm mitigate conflicts that arise from managing accounts with differing fee structures? 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. The president and supporters of his plan argue student loan debt forgiveness will provide much-needed relief to million debt-saddled Americans. For further detail, see our articles on different types of advisors and financial advisor services. 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. The Scion Asset Management manager revealed the purchase of seven new stocks in the last quarter. 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.