The headquarters of Scion Asset Management is 20665 4th Street, Suite 201. BBBY has plummeted by more than 95% from its 2021 peak to below $2 a share today . Rather, he pays attention to off-balance sheet metrics and naturaly, free cash flow. Scion Asset Management manages $291.7 million and provides investment advisory services for 4 clients (1 advisor/client ratio). Saratoga, CA 95070. The portfolio numbers only nine equities, with The GEO Group accounting for 20.4% of its holdings. It's not hard.". Why doesnt your firm use a secure website? Scion Asset Management currently serves clients in the following states: CA, TN. 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. 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. Firm or an advisory affiliate was previously found to have made false statements or omissions by a self-regulatory organization. The largest investments include Geo and Qurate Retail Inc, together worth $25.6 million. Scion Asset Management also says it works to provide clients with a diverse mix of portfolio opportunities it believes will increase their chances of investment success. and Bailing generations out of those bad choices will mean more bad choices, tuition hikes, and terrible consequences for America, he added. Nothing on this website constitutes, or is meant to constitute, advice of any kind. The company is currently facing heavy challenges, including all major banks cutting ties with private prisons and President. Hedge Fund Manager. The current portfolio value is calculated to be $47.00 Mil. Scion Asset Management, registered in 2018, serves 2 state (s) with a licensed staff of 4 advisors. "[6] Burry was able to achieve these returns partly by shorting overvalued tech stocks at the peak of the internet bubble. We have concerns regarding capital management at . Scion Asset Management Review. Burry may have missed out on a big windfall by selling his stock, but he also avoided a dramatic decline. What does this mean? exclusive offers, they cannot pay to alter our recommendations, advice, ratings, or any other content throughout the site. The advisory also believes in using fundamental analysis methods to assess . 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. Green rows indicate new positions. What does this mean and why is it important? (Disclaimers: this is not investment advice. 12.25% 3-Year Performance. 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. Questions to ask
The Scion Asset Management manager revealed the purchase of seven new stocks in the last quarter. He has Rusyn ancestry. Northport Investment Management, Albatross Investment Services, Lynn H. ORR Capital Management Group, Level Partners Management, Allvestments, Was this helpful? Sure Dividend compiles the following stock market databases and updates them monthly: Thanks for reading this article. Burry is betting big on the discretionary and industrial sectors, which generally benefit from economic growth. Scion Asset Management. Scion Asset Management's public equity portfolio is heavily concentrated. However, Burry is also known to take an approach that often contradicts what the broad market dictates. 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%. He looks for investments in undervalued companies with strong long-term prospects. In addition, the fund holds 5,000,000 shares of . Our Methodology. Burry has a strictly traditional understanding of value. Particularly, in 2005, Dr. Burry started to concentrate on the subprime market. JD.com, Inc. (US:JD) The president and supporters of his plan argue student loan debt forgiveness will provide much-needed relief to million debt-saddled Americans. Qurate Retail Inc makes up It's worth noting that more than a third of Scion Asset Management's portfolio is now made up of companies in the industrial sector. How do these benefits affect the firms selection of a broker-dealer partner? By Steve Burns. 347 Followers. This could be detrimental to a client during down markets. Operating as an online business, this site may be compensated through third party advertisers. Here's how we make money. Financial plans and investment portfolios are always unique to the client's personal financial situation. Firm is a broker-dealer, or is affiliated with one, and may be subject to compensation-related conflicts of interest. Any data inaccuracies, please contact our team. 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. In fact, Dr. Burry had showcased such great stock-picking skills that he drew the interest of companies such as Vanguard, White Mountains Insurance Group, and renowned investors such as Joel Greenblatt. Burry followed up his warning by detailing his own experience with student debt. in 2008. What does this mean? Top 50 Scion Asset Management Holdings . "[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. All Scion Asset Management, LLC holdings are listed in the following tables. Details on the strike price of the puts, their value and whether they were part of a broader trade were not available. Specifically, the company repurchased nearly $9.7 billion worth of stock last year. The author may be long one or more stocks mentioned in this report. Scion Asset Management, LLC (Filer) CIK: 0001649339 (see all company filings) IRS No. T. Black Knight offers blended software, data, and analytics solutions all over the globe. While StockBrokers.com has all data verified by industry participants, it can vary from time to time. Strategies arent specified: There isnt a lot of specificity provided . Yes or SEC Form 13F Filing History. The firm prefers to employ long/short, market neutral, and activist strategies. Ray Dalio's: Bridgewater Associates. 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. Co-producer of The Street's financial channels: Apple Maven, Amazon Maven and Wall Street Memes. 340.15% 5-Year Performance. What does this mean? This page was last edited on 1 February 2023, at 20:47 (UTC). 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. The stocks valuation has been compressed to a very low forward P/E ratio of about 10.4X, primarily because investors have been ditching Chinese equities due to the ongoing geopolitical risks involved. Our partners compensate us through paid advertising. 20665 4th Street, Suite 201. Dr. Michael Burry's Scion Asset Management disclosed holdings on Feb. 15 for the first time in over two years. Scion Asset Managements portfolio is diversified across 5 sectors. 66.7% of the portfolio companies Finally, the Loss Mitigation segment develops solutions that support retention and liquidation workouts. Last year, the nonpartisan Committee for a Responsible Federal Budget found the plan will likely cost an astronomical $400-$600 billion over time. Investors profit from puts when the . . For more information, contact opendata@sec.gov. Follow Tweet. Scion Asset Management: Michael Burry: 22.59%: $46538000: 9: Top Holdings Largest Trades Portfolio Structure Sector Allocation Performance History. 1,517,790 additional shares. The Software Solutions segment provides software and hosting solutions comprising MSP, a SaaS application platform for mortgages, home equity loans, and lines of credit. What does this mean? The portfolio numbers only nine equities, with The GEO Group accounting for 20.4% of its holdings. But critics have aired various concerns about Bidens plan, such as whether his executive order oversteps the presidents authority. Data is sourced from 13D/13G, 13F, and N-Q filings. Investor.com is your trustworthy guide to the world of personal finance. Alibaba is down 71% from its October 2020 peak. A Self-Regulatory Organization 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. "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. 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. Growth has also been smooth for the company due to the recurring nature of its business model. This form was filed on 2023-02-14 for the reporting period 2022-12-31. Here's what investors need to know about Michael Burry's long positions. Should I Hire a Financial Advisor or DIY It? 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 . How many times did it occur? Scion Asset Management: Michael Burry: 22.59%: $46538000: 9: Top Holdings Largest Trades Portfolio Structure Sector Allocation Performance History. 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. FINRA data last verified February 17, 2023. 10/2021 4/18/2022 5:06:55 PM SCION ASSET MANAGEMENT, LLC SCION ASSET MANAGEMENT, LLC (2) If you are using this Form ADV to register more than one investment adviser under an umbrella registration , check this box . Portfolio manager(s) are listed as Michael Burry. Qurate Retail Inc and bought 5,000,000 shares worth $10.1 million. Demand for the companys products has remained robust lately, but inflationary pressures on the expenses side of the income statement have suppressed profitability severely. 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 . To see the historical data of Scion Asset Management's portfolio holdings please click on the "2022 Q4" dropdown menu and select the date. All requests for updated information should also be reported directly to the SEC and/or FINRA. For example, front-running is when a financial professional buys or sell securities ahead of their client. Monte Huber is responsible for leading Scion's financial planning, reporting and risk management. This page shows a list of all the recent 13F filings made by Scion Asset Management, LLC. 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. Click the link icon to see the full transaction history. What does this mean and why is it important? A good way to understand Burry's thinking and Scion Asset Management's . Please see our General Disclaimers for more information. Firm actively engages as insurance brokers or agents, or they are affiliated with an insurance company or agency. Profitability has also been weak. 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. 1001 and 1030). Since 1999, Scion Advisory Services has been the sector's most trusted adviser, collaborating with clients on over 250 campuses and counting. SCION ASSET MANAGEMENT, LLC. 18951. Dr. Michael Burry of Scion Asset Management and of The Big Short fame has recently re-surfaced in shares of Gamestop (GME). With respect to such information, investor.com cannot and does not independently verify, audit, validate, assess or guarantee the adequacy, accuracy, or completeness of such information; such information is not included or otherwise incorporated within investor.com's Trust Score algorithm or review process. [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. Scion's new purchases consist of . For the most up-to-date information, please view the applicable SEC and FINRA reports above. 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. His solemn investing philosophy has resulted in outsized market returns over the past few years, beating the S&P 500 by a wide margin. Questions to ask
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, LLC 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. Bidens orders, which directed the attorney general not to renew Justice Department contracts with privately operated criminal detention facilities. Portfolio manager(s) are listed as Michael Burry. Limited offerings: Scion Asset Management isnt an advisory firm as much as it is an asset management company. He has warned a severe recession on several occasions over the last year. The funds top five holdings, which we analyze below, account for 72.2% of its total public equity exposure. Since Jun 2013. Neither the SEC nor FINRA tracks portfolio performance metrics for the financial planning industry. Firm or an advisory affiliate has previously had their authorization to act as an attorney, accountant, or federal contractor revoked or suspended. These commissions may be earned from the sale of investment or insurance products and are paid by the companies providing the products being sold. 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. The holding were 650,000 shares as of 2021-03-31. subsequently closed the Scion Capital fund and has since launched his latest fund, Scion Asset Management. Shares of Chinese e-commerce behemoth Alibaba have remained under pressure despite the company generating rather robust revenues given the ongoing trading environment. 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. Does the firm offer products that have performance-based fees, or does it accept performance-based fees? [9] His son was diagnosed with Asperger syndrome, and Burry believes he himself has Asperger syndrome after reading about the disorder. The Scion Asset Management manager revealed the purchase of seven new stocks in the last quarter. Does your firm perform side-by-side management? While partners may pay to provide offers or be featured, e.g. Our searchable database of U.S.-based financial advisors includes more than 17,000 firms across the country. 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. The firm owned 95,150 shares of the company's stock after purchasing an additional 57,650 shares during the period. Form 13F is required to be filed within 45 days of the end of a calendar quarter. Michael Burry's Scion Asset Management jettisoned 11 US equities in the second quarter and ended the period with just one. CALIFORNIA LIMITED-LIABILITY COMPANY - OUT OF STATE. 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. To file a complaint or dispute with this firm, please fill out the SEC Investor Complaint Form. Founded in 2003, Scion Asset Management, LLC is a private investment firm led by investing guru Dr. Michael J. Burry. To see Scion Asset Management's original 13F reports (2022 Q4), please click on the "important" button. Michael Burry's hedge fund's other holdings consist of: In general, Michael Burry's investment philosophy is based on fundamental analysis. Financial professionals should disclose all positions they hold (or have sold short) that they will also be recommending to their clients. 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. In total, Scion Asset Management manages $291.7 million in assets. Does your firm recommend securities that it or its affiliates underwrite, or in which it serves as general or managing partner? His analysis resulted in him shorting the market by convincing Goldman Sachs and other investment firms to sell him credit default swaps against subprime deals he saw as weak. Scion Asset Management is an investment fund managing more than $41.3 million ran by Michael Burry. The SEC or CFTC has previously entered an order against this firm or an advisory affiliate in connection with an investment-related activity. We use the change in the portfolio allocation because this is the most meaningful metric. 340.42% 1Y 3Y 5Y 10Y. At the age of two he lost his left eye to retinoblastoma[3] and has had a prosthetic eye ever since. Terms of Use | Disclaimers | Privacy Policy. The bottom line has softened lately as a result of inflationary pressures and supply chain inefficiencies, but profits are still substantial. By visiting these sites, you are subject to their terms of use (IAPD, BrokerCheck). assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents. These companies are located in Dover DE, Madison WI, and Saratoga CA. When firms are dual-registered as broker-dealers, they may be subject to compensation-related conflicts of interest, including revenue sharing from mutual funds and the sale of proprietary investment products. 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. For further detail, see our articles on different types of advisors and financial advisor services. 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. [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. He has stated more than once that his investment style is based on Benjamin Graham and David Dodds 1934 book Security Analysis. Scion Asset Management is a small firm focused on serving institutional investors, and pooled investment vehicles in particular. the total portfolio value. Heejin Kim and Myungshin Cho (29 August 2019). [14][15][16], During his payments toward the credit default swaps, Burry suffered an investor revolt, where some investors in his fund worried his predictions were inaccurate and demanded to withdraw their capital. 2015-2023 Fintel Ventures LLC. EXHIBIT C. July 28, 2019. Scion Asset Management has become increasingly popular due to Dr. Burrys ability to identify undervalued investment opportunities around the world. The Scion Group announced the addition of 32 high-quality assets and approximately 20,000 beds to its portfolio of student housing communities. 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. 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. Warren Buffett's: Berkshire Hathaway. [19] He has focused much of his attention on investing in water, gold, and farm land. Red rows indicate closed positions. Each month, investor.com helps thousands of Americans answer the question, "Can I trust you?". Fintel makes no representations or warranties in relation to this website or the information and materials provided on this website. 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. Note: We do not offer technical support for developing or debugging scripted downloading processes. . 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. A quarter of the portfolio is made up of consumer discretionary companies. It is now the funds third-largest holding, accounting for 12.8% of its holdings. Specifically, The GEO Group has suspended its dividends, which has allowed the company to deleverage rapidly. Scion was up 55%. 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. February 17, 2023. compensation-related conflicts of interest, Types of Financial Advisors and How to Choose, What's a Fiduciary (and Why It Matters So Much). Read through our introductory course to financial advisors. 1-Year Performance. Hedge funds are required to report only their long positions, not their short positions. Scion Asset Management, LLC Portfolio Never miss a trade. 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. 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 . [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. [4] As a teenager, he attended Santa Teresa High School. 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. How do we make money? When? . By using this site, you are agreeing to security monitoring and auditing. 223.17% 10-Year Performance. Scion Asset Management, LLC operates as an investment firm. [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". What does this mean? When I left residency at Stanford to gamble my future on what was to become, I had well into six figures of educational debt. As a result, the company will soon be able to self-fund its growth and overall operations. Geo dropped approximately 0.1% in the past year. Black Knight Inc (US:BKI) Currently tracking portfolios of 77 superinvestors. How does your firm mitigate them? What does this mean? He also believes that he expects growth in the consumer price index (CPI) to come down and be possibly negative in the second half of 2023.
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