[9] His son was diagnosed with Asperger syndrome, and Burry believes he himself has Asperger syndrome after reading about the disorder. In this episode, we hear how she became a sponge for product design, figured out how to make accessible yet high-end jewelry, and how she even relocated to China for the better part of a year to personally see to her brand's manufacturing. The current portfolio value is calculated to be $47.00 Mil. Bloomberg via Getty Images. Profitability has also been weak. Scion Asset Management's public equity portfolio is heavily concentrated. , Wolverine World Wide, Inc. (US:WWW) Scion Asset Management, registered in 2018, serves 2 state(s) with a licensed staff of 4 advisors. At the age of two he lost his left eye to retinoblastoma[3] and has had a prosthetic eye ever since. After attending medical school, Dr. Burry left to start his own hedge fund in 2000. Average metrics of all companies in portfolio . Eventually Burry closed his fund and retired. Additionally, the company has been utilizing loopholes through third parties, which essentially still allows it to deal with federal agencies. Scion Asset Management manages $291.7 million and provides investment advisory services for 4 clients (1 advisor/client ratio). 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 . The firm's website is not secure by modern internet standards. 223.17% 10-Year Performance. Steven Cohen's: Point72 Asset Management. U.S Market Open - Market Closes in 49M 55S. Our team combines decades of experience in all aspects of campus housing: residential life administration, real estate finance, program and asset management, plus practical knowledge from the ownership . SCION ASSET MANAGEMENT LLC Institutional Portfolio | Nasdaq. Strategies arent specified: There isnt a lot of specificity provided . Alibaba Group Holding Limited ADR (US:BABA) Michael Burry shed light on his bet against Tesla in a regulatory filing on Monday. We've received your submission. 340.42% 1Y 3Y 5Y 10Y. How does your firm mitigate them? While Scion Asset Management advises clients across a variety of portfolio sizes, the average client balance is currently $72.9 million. What does this mean? He named it after Terry Brooks' The Scions of Shannara (1990), one of his favorite novels. Scion Asset Management - Michael Burry assets under management (13F Holdings listing stock ownership and transaction history) provided by Insider Monkey. Scion Asset Management Review. 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. 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 . Portfolio value: $46M+ Period: 2022 Q4. 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. They contribute around 66%, 13%, 11 and 9% of total revenues, respectively. 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. Upgrade to unlock premium data and export to Excel . Nothing on this website constitutes, or is meant to constitute, advice of any kind. Which securities does your firm trade for itself that it will also be recommending to me? The firm owned 95,150 shares of the company's stock after purchasing an additional 57,650 shares during the period. of the fund's Consumer Discretionary sector allocation and has decreased its share price by approximately 0.1% in the past year. So is Burry less bearish on the U.S. economy than he was last year? 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. As a result, the company will soon be able to self-fund its growth and overall operations. Burry was born and grew up in San Jose, California. Financial professionals should disclose all positions they hold (or have sold short) that they will also be recommending to their clients. Firm is affiliated with an insurance company or agent who may be motivated to insure clients with products that generate high sales commissions when lower cost alternatives may exist. Note: 13F filing performance is different than fund performance. This video discusses the update to Michael Burry's portfolio (Scion Asset Management). . 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. Scion Asset Management LLC holdings changes, total fund size, and other information presented on HoldingsChannel.com was derived from Scion Asset Management LLC 13F filings. 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. The bottom line has softened lately as a result of inflationary pressures and supply chain inefficiencies, but profits are still substantial. Relative to the number of outstanding shares of Geo, Scion Asset Management owns more than approximately 0.1% of the company. Most recent portfolio value is calculated to be $ 46,536,925 USD. 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. Investor.com relies on regulatory data from the SEC to rate and review financial advisor firms. The Servicing Digital segment offers web and mobile solutions for consumers that deliver easy access to customized, timely information about their mortgages. assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents. 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. By using this site, you are agreeing to security monitoring and auditing. 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. Scion Asset Management, LLC initiated holding in Lumen Technologies Inc. He has warned a severe recession on several occasions over the last year. Unauthorized attempts to upload information and/or change information on any portion of this site are strictly prohibited and are subject to prosecution under the Computer Fraud and Abuse Act of 1986 and the National Information Infrastructure Protection Act of 1996 (see Title 18 U.S.C. 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. Does the firm offer products that have performance-based fees, or does it accept performance-based fees? Firm recommends securities or other investment products to advisory clients in which the firm or a related person has some other proprietary (ownership) interest that isnt related to trading or holding the security or securities themselves personally. In the most recent 13F filing, Scion Asset Management revealed that it had opened a new position in The firm prefers to employ long/short, market neutral, and activist strategies. As a consumer advocacy project, investor.com does not charge any licensing fees for earned state accolade badges. Scion was up 55%. Hedge fund boss Michael Burry is warning of terrible consequences for the US if the Biden administrations student loan debt forgiveness plan is upheld. Relative to the number of outstanding shares of Geo, Scion Asset Management owns more than approximately 0.1% of the company. Furthermore, our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data. While StockBrokers.com has all data verified by industry participants, it can vary from time to time. 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[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. Black Knight is a new holding for Scion Asset Management, initiated in its most recent quarterly filings. Scion Asset Management, LLC Portfolio Never miss a trade. Others say the plan is too costly and burdensome on taxpayers. 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. What does this mean? Burry has a strictly traditional understanding of value. The hedge fund exited positions including Alphabet Inc. and Facebook . Scion Asset Management a Portfolio Activity as reported in the most recent 13F form published on Dec 31, 2022. A regulatory agency has previously denied, suspended, or revoked the firms or an advisory affiliates registration or license or otherwise restricted their activities. 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. Growth has also been smooth for the company due to the recurring nature of its business model. Questions to ask Portfolio manager(s) are listed as Michael Burry. What does this mean and why is it important? Is your firm affiliated with a law firm in any capacity? With headquarters in New York and offices in London and Guernsey, Sciens has been investing in real assets strategies since 2007. Questions to ask Scion Asset Management, LLC Does your fim accept soft-dollar benefits? Stocks with a size of more than $10 billion in market cap make up Michael Burry has been on a buying spree lately. Scion Asset Management, LLC (Filer) CIK: 0001649339 (see all company filings) IRS No. 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. Questions to ask The SEC or CFTC has previously entered an order against this firm or an advisory affiliate in connection with an investment-related activity. Our searchable database of U.S.-based financial advisors includes more than 17,000 firms across the country. 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. 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. Scion Asset Management Holdings Heatmap . Several times last year, Burry predicted a stock market crash by betting that inflation would not give way. No. (Disclaimers: this is not investment advice. Founded in 2013, Scion Asset Management is a multi-strategy hedge fund manager based in Saratoga, California. 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. Disclaimer: It is our organization's primary mission to provide reviews, commentary, and analysis that are unbiased and objective. Will any of my assets be invested in those products? Michael Burry is an American investor, and hedge fund manager. 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. That would put the U.S. in a recession under "any definition.". The companys operating income can be divided into three segments: US Secure Services, Electronic Monitoring and Supervision Services, Reentry Services, and International Services. Relative to the previous quarter there was a little reshuffling of his holdings. What does this mean? Should I Hire a Financial Advisor or DIY It? 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. Michael Burry . 2022-07-28: Important Note - We have changed the treatment of the, LILAK / Liberty Latin America Ltd Class C. 2015-2023 Fintel Ventures LLC. 340.15% 5-Year Performance. Does your firm offer mutual funds that have 12b-1 fees? David Einhorn's: Greenlight Capital. 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. [9], Despite not practicing, Burry has kept his license as a physician active with the Medical Board of California, including continuing education requirements.[10][11]. 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. How does your firm approach insurance sales? 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 Scion Group announced the addition of 32 high-quality assets and approximately 20,000 beds to its portfolio of student housing communities. Dr. Michael Burry of Scion Asset Management and of The Big Short fame has recently re-surfaced in shares of Gamestop (GME). Performance. Shares of Chinese e-commerce behemoth Alibaba have remained under pressure despite the company generating rather robust revenues given the ongoing trading environment. 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. Some detractors have suggested that a cancellation of student debt would further fuel inflation that hit its highest level in decades last year. Louis Bacon's: Moore Capital Management. 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. Please see our General Disclaimers for more information. Why does your firm believe in offering commission-based services to clients? The Board of Directors. For example, front-running is when a financial professional buys or sell securities ahead of their client. The headquarters of Scion Asset Management is 20665 4th Street, Suite 201. 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. However, Burry is also known to take an approach that often contradicts what the broad market dictates. 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. Note: We do not offer technical support for developing or debugging scripted downloading processes. are based in the United States. Questions to ask How does your firm mitigate conflicts that arise from managing accounts with differing fee structures? What happened? Questions to ask [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. 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. [18][16], In 2013, Burry reopened his hedge fund, this time called Scion Asset Management, filing reports as an exempt reporting adviser (ERA) active in the state of California and approved by the SEC. His solemn investing philosophy has resulted in outsized market returns over the past few years, beating the S&P 500 by a wide margin. 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. Firm or related person receives soft-dollar benefits in connection with client securities transactions. The average market cap of the portfolio companies is close to $2.02 billion. It is now the funds fifth-largest holding, accounting for 10.0% of its holdings. He quickly earned extraordinary profits for his investors. 408-441-8400 Co-producer of The Street's financial channels: Apple Maven, Amazon Maven and Wall Street Memes. Since 1999, Scion Advisory Services has been the sector's most trusted adviser, collaborating with clients on over 250 campuses and counting. On the other hand, small-cap stocks make up only approximately 0.1% of the portfolio. 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. "Trusted by investor.com" status is reserved to those financial advisor firms meeting investor.com's strict requirements, beginning with earning no less than a 4.5 to 5 -star rating based on investor.com's independent Trust algorithm analysis. All rights reserved. By visiting these sites, you are subject to their terms of use (IAPD, BrokerCheck). The impact to a portfolio due to this purchase was 0.65%. Dr. Burry trimmed Scions position in The GEO Group by 47%, with the fund now owning around 0.85% of the companys outstanding shares. Warren Buffett's: Berkshire Hathaway. The Software Solutions segment provides software and hosting solutions comprising MSP, a SaaS application platform for mortgages, home equity loans, and lines of credit. "[6] Burry was able to achieve these returns partly by shorting overvalued tech stocks at the peak of the internet bubble. Burry has amassed more than 1.4 million followers on Twitter, where he frequently tweets and then deletes his predictions about the US economy. We reserve the right to block IP addresses that submit excessive requests. Scion Asset Management is a small firm focused on serving institutional investors, and pooled investment vehicles in particular. MGM Resorts International (US:MGM) And we will have another inflation spike. He previously owned shares earlier this year but sold out in the second quarter per his latest 13F filing as of June 30th. Latest Holdings, Performance, AUM (from 13F, 13D). 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. 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 Company serves clients in the United States. Reference ID: 0.35841402.1677949840.1dcfc4e. The firm doesn't work with individual investors, although individuals may invest in the funds for which it provides investment advisory services. Wolverine World Wide is a new holding for Scion Asset Management, initiated in its most recent quarterly filings. All requests for updated information should also be reported directly to the SEC and/or FINRA. Why Didn't the Fed? The next year, 2003, the stock market finally turned around and rose 28.69%, but Burry beat it again, with returns of 50%. The GEO Group Inc (US:GEO) This value is significant in that it is the last known price at which the security was still held. Scion Asset Management, LLC's top holdings are This page was last edited on 1 February 2023, at 20:47 (UTC). Changes can be due to trades or changes in share prices. What does this mean and why is it important? in 2008. 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. Scion Asset Management currently serves clients in the following states: CA, TN. <style> body { -ms-overflow-style: scrollbar; overflow-y: scroll; overscroll-behavior-y: none; } .errorContainer { background-color: #FFF; color: #0F1419; max-width . 66.7% of the portfolio companies Interestingly enough, when Dr. Burry had to pay for the credit default swaps, he experienced an investor revolt, as some investors in his fund feared his prophecy was inaccurate, requesting to withdraw their funds. 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. 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? 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