scion asset management

Dr. Michael Burry of Scion Asset Management and of The Big Short fame has recently re-surfaced in shares of Gamestop (GME). 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. See the articles below for analysis on other major investment firms/asset managers/gurus: If you are interested in finding more high-quality dividend growth stocks suitable for long-term investment, the following Sure Dividend databases will be useful: The major domestic stock market indices are another solid resource for finding investment ideas. 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. 347 Followers. What does this mean and why is this important? Questions to ask Does your firm perform side-by-side management? Terms of Use | Disclaimers | Privacy Policy. Thus, be mindful and conduct your own research before allocating your hard-earned money to any of these names. Firm or an advisory affiliate was previously found to have made false statements or omissions by a self-regulatory organization. Michael Burry does see a recession coming, but that hasn't stopped himrather his hedge fund Scion Asset Managementfrom stocking up on some positions likely to be hit hard by a downturn. 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. 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. Questions to ask Thanks for supporting the Wall Street Memes). The hedge fund exited positions including Alphabet Inc. and Facebook . The third-largest holding is CoreCivic Inc worth $6.41 million and the next is Aerojet Rocketdyne Inc worth $5.3 million, with 132,561 shares owned. Neither the SEC nor FINRA tracks portfolio performance metrics for the financial planning industry. 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. At 06/30/2022: $3,309. 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. Dr. Burry does not differentiate between small-caps, mid-caps, tech stocks, or non-tech stocks. SCION ASSET MANAGEMENT, LLC ( CRD # 167772/SEC#:801-113529 ) The adviser's REGISTRATION status is listed below. Growth has also been smooth for the company due to the recurring nature of its business model. 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. 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 has said, "Fresh, clean water cannot be taken for granted. [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. What does this mean? FINRA 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. In response, Alibaba has been repurchasing stock in bulk. 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. In the past ten years, firm or an advisory affiliate has been convicted of or pled guilty or nolo contendere ("no contest") in a domestic, foreign, or military court to a felony. Perform physically demanding work to maintain the asset, and other property features to minimize liability concerns. exclusive offers, they cannot pay to alter our recommendations, advice, ratings, or any other content throughout the site. documented the history and events leading up to his contrarian but hugely successful bet against the real estate market We use the change in the portfolio allocation because this is the most meaningful metric. How does your firm mitigate conflicts that arise from managing accounts with differing fee structures? What does this mean? These conflicts can negatively impact clients via hidden fees and overall higher costs. 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. Michael Burry of Scion Asset Management liquidated his entire investment portfolio in the second-quarter, according to the latest 13F holdings report. Scion Asset Management. This page was last edited on 1 February 2023, at 20:47 (UTC). MGM Resorts International (US:MGM) Michael Burry's Scion Asset Management jettisoned 11 US equities in the second quarter and ended the period with just one. 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. I was damned sure I was going to pay it off.. SkyWest, Inc. (US:SKYW) It would appear that Burry is betting that China will rebound. What percentage of income does your firm receive from fees versus commissions? However, Burry is also known to take an approach that often contradicts what the broad market dictates. : 000000000 | State of Incorp. Alibaba Group Holding Limited ADR (US:BABA) Eventually Burry closed his fund and retired. Any data inaccuracies, please contact our team. 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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. 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). 100.0% 408-441-8400 There are currently 6 companies in Mr. Burrys portfolio. 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. Keep reading this article to learn more about Scion Asset Management. Lets not forget that the student debt problem is built on a foundation of terrible major choices, Burry, 51, tweeted on Tuesday. Additionally, the company has been utilizing loopholes through third parties, which essentially still allows it to deal with federal agencies. Participation in the Certification program, including the payment of an annual fee to investor.com, does not guarantee or in any way bias investor.com's decision to award "Trusted by investor.com" status, and "Trusted by investor.com" status shall not constitute or be construed as an endorsement of any firm by investor.com. Accordingly, he disregards price-to-earnings ratios to dodge being deceived by a companys stated metrics. The SEC or CFTC has found firm or an advisory affiliate to have been involved in a violation of its rules. 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: [4] As a teenager, he attended Santa Teresa High School. The fund's top five holdings, which we analyze below, account for 72.2% of its total public . David Einhorn's: Greenlight Capital. While StockBrokers.com has all data verified by industry participants, it can vary from time to time. Portfolio manager(s) are listed as Michael Burry. Relative to the number of outstanding shares of Geo, Scion Asset Management owns more than approximately 0.1% of the company. Profitability has also been weak. Thank you for your interest in the U.S. Securities and Exchange Commission. 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. Scion Asset Management is an investment fund managing more than $41.3 million ran by Michael Burry. , A good way to understand Burry's thinking and Scion Asset Management's . John Rogers - Ariel Appreciation Fund Updated 11 Jan 2023. He named it after Terry Brooks' The Scions of Shannara (1990), one of his favorite novels. 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. 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. The total portfolio value may be much higher due to cash In Michael Burry's current portfolio as of 2022-12-31, the top 5 holdings are The GEO Group Inc (GEO), Black Knight Inc . 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 . Burry's bearish thesis is that the American economy will go into recession in 2023 regardless of how we define the term. And we could be headed for another recession. The companys vast portfolio of products includes optical and electro-optical components and materials, fiber lasers, infrared optical components, and high-precision optical assemblies, amongst others. Firm actively engages as insurance brokers or agents, or they are affiliated with an insurance company or agency. 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. How many times did it occur? 340.42% 1Y 3Y 5Y 10Y. 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. 20665 4th Street, Suite 201. More than 90% of the beds are located in the US. Michael Burry's hedge fund Scion Asset Management is based in Saratoga, California and manages capital for 5 clients. [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. Firm performs side-by-side management with accounts that have differing fee structures. He had already developed a reputation as an investor by demonstrating success in value investing, which he wrote about on message boards on the stock discussion site Silicon Investor beginning in 1996. What does this mean? These filings are called "notice filings". 66.7% of the portfolio companies Will His AI Plans Be Any Different? (Disclaimers: this is not investment advice. Scion was up 55%. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Thanks for contacting us. He previously owned shares earlier this year but sold out in the second quarter per his latest 13F filing as of June 30th. Questions to ask What does this mean? On this Wikipedia the language links are at the top of the page across from the article title. Monte Huber is responsible for leading Scion's financial planning, reporting and risk management. Last year, the nonpartisan Committee for a Responsible Federal Budget found the plan will likely cost an astronomical $400-$600 billion over time. According to the last 13-F report filed with the SEC, Michael Burry serves as the Chief Executive Officer at Scion Asset Management. Charlie Munger - Daily Journal Corp. Burry may have missed out on a big windfall by selling his stock, but he also avoided a dramatic decline. This video discusses the update to Michael Burry's portfolio (Scion Asset Management). , Michael Burry shed light on his bet against Tesla in a regulatory filing on Monday. Burry, who is primarily known for his "Big Short" position, has made predictions about 2023, and these may be well expressed in short positions. 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. Scion Asset Management, registered in 2018, serves 2 state(s) with a licensed staff of 4 advisors. Dr. Michael Burry's Scion Asset Management disclosed holdings on Feb. 15 for the first time in over two years. Investor.com relies on regulatory data from the SEC to rate and review financial advisor firms. Read through our introductory course to financial advisors. The next year, 2003, the stock market finally turned around and rose 28.69%, but Burry beat it again, with returns of 50%. Since 1999, Scion Advisory Services has been the sector's most trusted adviser, collaborating with clients on over 250 campuses and counting. The stock is now traded at around $14.430000. When performance-based fees are charged, the financial advisor is paid for outperforming a benchmark, typically an index. 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. $48.3 Million Total portoflio value. The investment fund's only holding now is The . On the other hand, small-cap stocks make up only approximately 0.1% of the portfolio. 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. , Aside from potential increases to the cost of education, Burry did not elaborate on what terrible consequences he foresees for the country. Firm or an advisory affiliate has previously had their authorization to act as an attorney, accountant, or federal contractor revoked or suspended. Questions to ask 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. The portfolio is made up of a total of 102 facilities, including 82,000 beds. Common Stock (US:US19247G1076) Firm can legally elect to accept commissions for their investment advisory services. Greenhaven Associates Updated 10 Jan 2023. He then left to start his own hedge fund. T. Black Knight offers blended software, data, and analytics solutions all over the globe. JD.com, Inc. (US:JD) [6] Scion Capital ultimately recorded returns of 489.34% (net of fees and expenses) between its November 1, 2000 inception and June 2008. The portfolio's exposure to China is also thought-provoking. The company is currently facing heavy challenges, including all major banks cutting ties with private prisons and President. This makes their stake in Geo total 2,019,150 shares worth $15.5 million. What does this mean and why is it important? Researcher and operations manager at DM Martins Research. Scion Asset Management Review. Investor.com is your trustworthy guide to the world of personal finance. When he was younger, he noticed that it took him a lot of energy to look people in the eye, and said, "If I am looking at you, that's the one time I know I won't be listening to you". Portfolio manager(s) are listed as Michael Burry. What does this mean and why is it important? 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. The latest quarterly filing from Scion Asset ManagementMichael Burry's firmshows no bearish bets against the electric-vehicle giant Tesla The loss of a notable bear appears to be giving . the total portfolio value. Michael Burry recently added seven new stocks to his hedge fund, Scion Asset Management, including Chinese e-commerce companies Alibaba and JD.com and technology firm Black Knight. 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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. The firm's asset exposure includes equities, derivatives, and fixed income instruments. Steven Romick - FPA Crescent Fund Updated 12 Jan 2023. 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. While partners may pay to provide offers or be featured, e.g. Common Stock (US:US19247G1076) Not only did he make a personal profit of $100 million, but his remaining investors earned more than $700 million. Scion Asset Management, LLC is a private investment firm founded and led by Dr. Michael J. Burry The author may be long one or more stocks mentioned in this report. 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. How does your firm mitigate them? 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. Black Knight Inc (US:BKI) Our system found no disciplinary alerts. All Scion Asset Management, LLC holdings are listed in the following tables. Scion Asset Management a Portfolio Activity as reported in the most recent 13F form published on Dec 31, 2022. Scion Asset Management currently serves clients in the following states: CA, TN. Scion Asset Management 13F annual report. 0001567619-21-010281.txt. What does this mean? It is now the funds third-largest holding, accounting for 12.8% of its holdings. Wolverine World Wide designs, produces, and distributes footwear, apparel, and other accessories globally. See the Top Performing Hedge-Funds > Michael Burry . Execute maintenance objectives and daily assignments with the Facilities Supervisor. Most recent portfolio value is calculated to be $ 46,536,925 USD. Published on February 27th, 2023 by Nikolaos Sismanis. 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). Ultimately, Burrys analysis proved right. Specifically, his picks were published on message boards on the stock discussion site Silicon Investor back in 1996, with their returns being outstanding! Actual Assets Under Management (AUM) is this value plus cash (which is not disclosed). are based in the United States. SCION ASSET MANAGEMENT LLC Institutional Portfolio | Nasdaq. The fund only has four clients. Relative to the previous quarter there was a little reshuffling of his holdings. 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. What does this mean? Does your fim accept soft-dollar benefits? Scion Asset Management, registered in 2018, serves 2 state (s) with a licensed staff of 4 advisors. While Scion Asset Management advises clients across a variety of portfolio sizes, the average client balance is currently $72.9 million. Also, the article may contain affiliate links. All rights reserved. Upgrade to unlock premium data and export to Excel . Primary Business Name: SCION ASSET MANAGEMENT, LLC CRD Number: 167772 Other-Than-Annual Amendment - All Sections Rev. The firm prefers to employ long/short, market neutral, and activist strategies. Scion Asset Management, LLC operates as an investment firm. After attending medical school, Dr. Burry left to start his own hedge fund in 2000. Several times last year, Burry predicted a stock market crash by betting that inflation would not give way. 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. In comparison, the S&P 500 returned just under 3%, including dividends, over the same period. Michael Burry of Scion Asset Management. Figure 1:What to Know About Michael "Big Short" Burry's Latest Stock Purchase, Read also: GameStop Stock: What the SEC Says About Direct Registration. [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. Hedge Fund Manager. Financial professionals should disclose all positions they hold (or have sold short) that they will also be recommending to their clients. The fund focuses on investments in the United States as 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. He only looks for their undervalued elements, regardless of their sector and class. After more than two years, on February 14, 2019, Scion Asset Management filed another 13F, showing Burry to hold numerous large-cap stocks and $103,528,000 13F assets under management, just above the threshold for filing. 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. 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. The SEC or CFTC has previously entered an order against this firm or an advisory affiliate in connection with an investment-related activity. *SEC data last verified February 17, 2023. Operating as an online business, this site may be compensated through third party advertisers. 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. Firm or an affiliate actively engages in business as a law firm or lawyer. 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. What does this mean? So while Michael Burry's hedge fund has about $46.5 million in long positions reported in its 13F, it is likely that behind this may be another "big short." Burry was born and grew up in San Jose, California. What does this mean and why is it important? WRITE REVIEW. 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. Burry predicted, "Fed will cut and government will stimulate. These companies are located in Dover DE, Madison WI, and Saratoga CA. . GameStop Stock: What the SEC Says About Direct Registration, Alibaba Group Holding Limited American Depositary Shares each representing eight. Firms having met these requirements may further elect to participate in the investor.com Certification program for an annual fee paid to investor.com. 1001 and 1030). Saratoga, CA 95070. Will any of my assets be invested in those products? , 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. The majority of the companies in the funds portfolio are large-cap stocks. The portfolio numbers only nine equities, with The GEO Group accounting for 20.4% of its holdings. Company profile page for Scion Asset Management LLC including stock price, company news, press releases, executives, board members, and contact information 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 . 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. The funds top five holdings, which we analyze below, account for 72.2% of its total public equity exposure. A regulatory agency other than the SEC or CFTC has previously found the firm or an advisory affiliate responsible for having an investment-related business have its authorization to do business denied, suspended, or revoked. Scion employs over 1,750 team members and has over $9 billion of assets under . He also urged investors to liquidate their stocks. of the fund's Consumer Discretionary sector allocation and has decreased its share price by approximately 0.1% in the past year. 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. Hedge fund boss Michael Burry is warning of terrible consequences for the US if the Biden administrations student loan debt forgiveness plan is upheld. 12.25% 3-Year Performance. Bloomberg via Getty Images. There are 3 companies that go by the name of Scion Asset Management, LLC.

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