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Scion Asset Management General Information. "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. 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. Sciens launched the Sciens Water Opportunities Fund in 2018 to make investments in the U.S. water sector. Why doesnt your firm use a secure website? Questions to ask However, Burry is also known to take an approach that often contradicts what the broad market dictates. and Firm actively engages as insurance brokers or agents, or they are affiliated with an insurance company or agency. This website is provided as is without any representations or warranties, express or implied. Finally, the Loss Mitigation segment develops solutions that support retention and liquidation workouts. Firm or an affiliate actively engages in business as a law firm or lawyer. After attending medical school, Dr. Burry left to start his own hedge fund in 2000. The SEC or CFTC has found firm or an advisory affiliate to have been involved in a violation of its rules. Thanks for supporting the Wall Street Memes). 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. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Thanks for contacting us. Scion Asset Management: Michael Burry: 22.59%: $46538000: 9: Top Holdings Largest Trades Portfolio Structure Sector Allocation Performance History. CALIFORNIA LIMITED-LIABILITY COMPANY - OUT OF STATE. The Software Solutions segment provides software and hosting solutions comprising MSP, a SaaS application platform for mortgages, home equity loans, and lines of credit. tips_and_updates Financial Advisor Education. [30], Burry is married, with children, and was living in Saratoga, California in 2010. 0001567619-21-015632. Firm or an advisory affiliate has previously had an investment-related civil action dismissed against them following a cash settlement in court. documented the history and events leading up to his contrarian but hugely successful bet against the real estate market Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. Researcher and operations manager at DM Martins Research. What does this mean and why is it important? As a result, unlike hedge funds, there is no historical performance for any financial advisory firm. What does this mean? 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. : 000000000 | State of Incorp. Here's what investors need to know about Michael Burry's long positions. 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%. Scion Asset Management is headquartered in Saratoga, California. It charges an asset-based management fee that can be as high as 2% per year, while it may also take up to 20% of the value of the appreciation from each clients account. has disclosed 9 total holdings in their latest SEC filings. We reserve the right to block IP addresses that submit excessive requests. What does this mean? What percentage of income does your firm receive from fees versus commissions? Dr. Michael Burry and his fund Scion Capital were made famous by the movie "The Big Short," which Specifically, the company repurchased nearly $9.7 billion worth of stock last year. [32], Burry was highly critical of the lockdowns during the COVID-19 pandemic in the United States.[33]. The firm's website is not secure by modern internet standards. Michael Burry is head of Scion Asset Management. These filings are called "notice filings". Others say the plan is too costly and burdensome on taxpayers. Common Stock (US:US19247G1076) 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. Steven Romick - FPA Crescent Fund Updated 12 Jan 2023. He has said, "Fresh, clean water cannot be taken for granted. Follow Tweet. The concept of Value Investing can sum up Michael Burrys whole investment philosophy. Scion Asset Management, LLC initiated holding in Lumen Technologies Inc. They contribute around 66%, 13%, 11 and 9% of total revenues, respectively. To allow for equitable access to all users, SEC reserves the right to limit requests originating from undeclared automated tools. 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 . Scion Asset Management, LLC operates as an investment firm. Stock Company Name % of Portfolio Shares Owned Value Change in Shares Ownership History [18] He faulted federal regulators for failing to listen to warnings from outside a closed circle of advisors. Greenhaven Associates Updated 10 Jan 2023. 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. Will any of my assets be invested in those products? Scion Asset Management, LLC Holdings. Not only did he make a personal profit of $100 million, but his remaining investors earned more than $700 million. Relative to the number of outstanding shares of Geo, Scion Asset Management owns more than approximately 0.1% of the company. Scion employs over 1,750 team members and has over $9 billion of assets under . Specifically, his picks were published on message boards on the stock discussion site Silicon Investor back in 1996, with their returns being outstanding! Follow Tweet. What does this mean and why is it important? The Board of Directors. While partners may pay to provide offers or be featured, e.g. 223.17% 10-Year Performance. Burry's Scion Asset Management bought 2,355 put contracts against the red-hot tech ETF during the second quarter and held them through the end of the period. "[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. Any data inaccuracies, please contact our team. , 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. He quickly earned extraordinary profits for his investors. Please see our General Disclaimers for more information. [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. On February 14, Michael Burry filed his company's holdings report with the SEC. Should I Hire a Financial Advisor or DIY It? Disclaimer: It is our organization's primary mission to provide reviews, commentary, and analysis that are unbiased and objective. Each month, the investor.com Trust algorithm downloads the latest regulatory data from the SEC IAPD database. WRITE REVIEW. 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. 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. To see Scion Asset Management's original 13F reports (2022 Q4), please click on the "important" button. To file a complaint or dispute with this firm, please fill out the SEC Investor Complaint Form. Our receipt of such compensation shall not be construed as an endorsement or recommendation by StockBrokers.com, nor shall it bias our reviews, analysis, and opinions. At 06/30/2022: $3,309. 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. 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. 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. Hedge fund boss Michael Burry is warning of terrible consequences for the US if the Biden administrations student loan debt forgiveness plan is upheld. Currently, their heaviest sector is Real Estate making up 53.2% of What does this mean and why is it important? SCION ASSET MANAGEMENT, LLC. 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. In Michael Burry's current portfolio as of 2022-12-31, the top 5 holdings are The GEO Group Inc (GEO), Black Knight Inc . How does your firm mitigate conflicts that arise from managing accounts with differing fee structures? Northport Investment Management, Albatross Investment Services, Lynn H. ORR Capital Management Group, Level Partners Management, Allvestments, Was this helpful? Last year was a turbulent one for China, marked by strict lockdowns and geopolitical and regulatory turmoil. This video discusses the update to Michael Burry's portfolio (Scion Asset Management). 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. Details on the strike price of the puts, their value and whether they were part of a broader trade were not available. The portfolio numbers only nine equities, with The GEO Group accounting for 20.4% of its holdings. No. 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. 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. Portfolio manager(s) are listed as Michael Burry. 2015-2023 Fintel Ventures LLC. 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. 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. 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. , Questions to ask While this can be seen as "eating your own cooking," there are conflicts that may arise. For example, front-running is when a financial professional buys or sell securities ahead of their client. 2021-08-16. Upgrade to unlock premium data and export to Excel . Company profile page for Scion Asset Management LLC including stock price, company news, press releases, executives, board members, and contact information It is now the funds fifth-largest holding, accounting for 10.0% of its holdings. 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. So is Burry less bearish on the U.S. economy than he was last year? Profitability has also been weak. What does this mean and why is this important? 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. Private prison giants The GEO Group accounts for 20.4% of Scion Assets management public equity holdings. 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: He founded the hedge fund Scion Capital, which he ran from 2000 until 2008 before closing it to focus on his personal investments. 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. Point72 Asset Management . It is now the funds third-largest holding, accounting for 12.8% of its holdings. As a consumer advocacy project, investor.com does not charge any licensing fees for earned state accolade badges. 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. Portfolio manager(s) are listed as Michael Burry. 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. exclusive offers, they cannot pay to alter our recommendations, advice, ratings, or any other content throughout the site. The Company serves clients in the United States. For more information, please see the SECs Web Site Privacy and Security Policy. How does your firm mitigate them? Form 13F-HR - Quarterly report filed by institutional managers, Holdings: SEC Accession No. What does this mean? Is your firm affiliated with a law firm in any capacity? [6] Scion Capital ultimately recorded returns of 489.34% (net of fees and expenses) between its November 1, 2000 inception and June 2008. What conflicts do I need to be made aware of? subsequently closed the Scion Capital fund and has since launched his latest fund, Scion Asset Management. Does your firm perform side-by-side management? The impact to a portfolio due to this purchase was 0.65%. and Does your fim accept soft-dollar benefits? In his words: All my stock picking is 100% based on the concept of a margin of safety.. Scion Asset Management, LLC Portfolio Never miss a trade. What does this mean and why is it important? Dr. Burry trimmed Scions position in The GEO Group by 47%, with the fund now owning around 0.85% of the companys outstanding shares. In the most recent 13F filing, Scion Asset Management revealed that it had opened a new position in As a result, we do not support personal reviews on the site. Aside from potential increases to the cost of education, Burry did not elaborate on what terrible consequences he foresees for the country. 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). Visit Site, Is this your firm? On the other hand, small-cap stocks make up only approximately 0.1% of the portfolio. These positions were updated on November 14th based on the funds latest 13F filing. 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. Description. When? Michael Burry shed light on his bet against Tesla in a regulatory filing on Monday. I was damned sure I was going to pay it off. 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Demand for the companys products has remained robust lately, but inflationary pressures on the expenses side of the income statement have suppressed profitability severely. 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. 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. 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. Scion Asset Management, LLC's top holdings are [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". With headquarters in New York and offices in London and Guernsey, Sciens has been investing in real assets strategies since 2007. But critics have aired various concerns about Bidens plan, such as whether his executive order oversteps the presidents authority. A good way to understand Burry's thinking and Scion Asset Management's . of the fund's Consumer Discretionary sector allocation and has decreased its share price by approximately 0.1% in the past year. 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. Questions to ask Scion's new purchases consist of . Most recent portfolio value is calculated to be $ 46,536,925 USD. The conservative-majority Supreme Court appeared skeptical of Bidens plan during hearings this week, raising doubts about the likelihood it will receive final approval. , 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. However, Dr. Burry has a much broader track record in the investing world. Scion Asset Management fund manager Michael Burry, who rose to fame with timely bets against housing ahead of the 2008 financial crisis, in the last quarter dumped a dozen bullish positions and . Scion Asset Management: Michael Burry: 22.59%: $46538000: 9: Top Holdings Largest Trades Portfolio Structure Sector Allocation Performance History. 1001 and 1030). Scion Asset Management Review. Portfolio value: $46M+ Period: 2022 Q4. For comparison, the S&P 500 ETF (SPY) generated annualized total returns of 7.5% over the same time period. And it is notwater is political, and litigious. Relative to the number of outstanding shares of Geo, Scion Asset Management owns more than approximately 0.1% of the company. [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. The Servicing Digital segment offers web and mobile solutions for consumers that deliver easy access to customized, timely information about their mortgages. 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. The portfolio is made up of a total of 102 facilities, including 82,000 beds. 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). I cover the recent 13F filings and the logic behind Michael Burry's po. This means they effectively own 0.6% of the company. 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. Operating as an online business, this site may be compensated through third party advertisers. Scion Asset Management's public equity portfolio is heavily concentrated. 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. Warren Buffett's: Berkshire Hathaway. What does this mean and why is it important? 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. Particularly, in 2005, Dr. Burry started to concentrate on the subprime market. 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. 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. Verition Fund Management LLC increased its holdings in shares of ScION Tech Growth II (NASDAQ:SCOB - Get Rating) by 153.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). . The GEO Group Inc (US:GEO) I was damned sure I was going to pay it off.. Checks take place monthly. are based in the United States. What does this mean and why is it important? There are currently 6 companies in Mr. Burry's portfolio. And we could be headed for another recession. Our system has identified the following conflict alerts. 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 GEO Group is a specialty REIT that owns, operates, and manages correctional, detention, and reentry facilities in the US, UK, South Africa, and Australia. BBBY has plummeted by more than 95% from its 2021 peak to below $2 a share today .

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