scion asset management scion asset management

Does the firm offer products that have performance-based fees, or does it accept performance-based fees? For more information, please see the SECs Web Site Privacy and Security Policy. Lets not forget that the student debt problem is built on a foundation of terrible major choices, Burry, 51, tweeted on Tuesday. We've received your submission. The next year, 2003, the stock market finally turned around and rose 28.69%, but Burry beat it again, with returns of 50%. 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 . However, he has re-established a stake in the company as shares plunged, now owning around 3.05% of the company with approximately 3 million shares. Note: We do not offer technical support for developing or debugging scripted downloading processes. What does this mean? February 17, 2023. With headquarters in New York and offices in London and Guernsey, Sciens has been investing in real assets strategies since 2007. See how we calculate 13F filing performance here. 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. U.S Market Open - Market Closes in 49M 55S. Coherent Corp. produces and manufactures, and sells engineered materials, optoelectronic components, and devices internationally. 2023 Reink Media Group LLC. Bidens orders, which directed the attorney general not to renew Justice Department contracts with privately operated criminal detention facilities. , Description. Firm performs side-by-side management with accounts that have differing fee structures. All requests for updated information should also be reported directly to the SEC and/or FINRA. To illustrate how successful Dr. Burrys picks were from the origins of Scion Asset Management to the Great Financial Crisis, the hedge fund recorded returns of 489.34% (net of fees and expenses) between its inception in November 2000 to June 2008. Questions to ask They contribute around 66%, 13%, 11 and 9% of total revenues, respectively. What does this mean? Will any of my assets be invested in those products? The SEC or CFTC has previously entered an order against this firm or an advisory affiliate in connection with an investment-related activity. Firms having met these requirements may further elect to participate in the investor.com Certification program for an annual fee paid to investor.com. Black Knight Inc (US:BKI) and 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. Point72 Asset Management . financing, asset management, . The Scion Asset Management manager revealed the purchase of seven new stocks in the last quarter. Questions to ask When? [13], In 2005, Burry started to focus on the subprime market. . 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. 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. Saratoga, CA 95070. Portfolio value: $46M+ Period: 2022 Q4. He also urged investors to liquidate their stocks. These filings are called "notice filings". 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. Dr. Michael Burry and his fund Scion Capital were made famous by the movie "The Big Short," which Heejin Kim and Myungshin Cho (29 August 2019). Data is sourced from 13D/13G, 13F, and N-Q filings. All Scion Asset Management, LLC holdings are listed in the following tables. [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. By the end of 2004, he was managing $600 million and turning money away. Firm or related person receives soft-dollar benefits in connection with client securities transactions. Questions to ask Dr. Burry Click the link icon to see the full transaction history. in 2008. The advisory also believes in using fundamental analysis methods to assess . David Einhorn's: Greenlight Capital. Michael Burry is an American investor, and hedge fund manager. Scion Asset Management Review. . As of 09/30/2022, below is a summary of the Scion Asset Management LLC top holdings by largest position size, as . The SEC or CFTC has found firm or an advisory affiliate to have been involved in a violation of its rules. What does this mean? On this Wikipedia the language links are at the top of the page across from the article title. Firm or an advisory affiliate has previously had an investment-related civil action dismissed against them following a cash settlement in court. Scion Asset Management, LLC initiated holding in Lumen Technologies Inc. Saratoga, CA 95070. Specifically, The GEO Group has suspended its dividends, which has allowed the company to deleverage rapidly. He has warned a severe recession on several occasions over the last year. 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. . 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. 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. Burry is betting big on the discretionary and industrial sectors, which generally benefit from economic growth. GameStop Stock: What the SEC Says About Direct Registration, Alibaba Group Holding Limited American Depositary Shares each representing eight. Greenhaven Associates Updated 10 Jan 2023. Scion Asset Management is an investment fund managing more than $41.3 million ran by Michael Burry. In that case, interest rates would pivot and rates would be cut while the government would announce a stimulus package to help households suffering from a failing economy. At 06/30/2022: $3,309. Musk Made a Mess at Twitter. In comparison, the S&P 500 returned just under 3%, including dividends, over the same period. . 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. Checks take place monthly. What does this mean? In the most recent 13F filing, Scion Asset Management revealed that it had opened a new position in 340.42% 1Y 3Y 5Y 10Y. 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 . Not only did he make a personal profit of $100 million, but his remaining investors earned more than $700 million. In January, Burry made predictions for an economic downturn in 2023. 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. Investor.com relies on regulatory data from the SEC to rate and review financial advisor firms. Firm can legally elect to accept commissions for their investment advisory services. Five years later in 2013 Michael Burry reopened his fund with slightly changed name Scion Asset Management. "[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. The Servicing Digital segment offers web and mobile solutions for consumers that deliver easy access to customized, timely information about their mortgages. Hedge funds are required to report only their long positions, not their short positions. Latest Holdings, Performance, AUM (from 13F, 13D). 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 companys operating income can be divided into three segments: US Secure Services, Electronic Monitoring and Supervision Services, Reentry Services, and International Services. Scion Asset Managements portfolio is diversified across 5 sectors. documented the history and events leading up to his contrarian but hugely successful bet against the real estate market However, Dr. Burry has a much broader track record in the investing world. See the Top Performing Hedge-Funds > Michael Burry . Based in Saratoga, Calif., Scion has just six employees, two of whom . Questions to ask Others say the plan is too costly and burdensome on taxpayers. Each month, investor.com helps thousands of Americans answer the question, "Can I trust you?". [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". Relative to the number of outstanding shares of Geo, Scion Asset Management owns more than approximately 0.1% of the company. As a financial advisory firm, Scion Asset Management can provide a variety of financial planning services for Americans. How many times did it occur? Scion Asset Management, LLC 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. 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. Grapevine, TX 76051. Changes can be due to trades or changes in share prices. Steven Cohen's: Point72 Asset Management. What does this mean and why is it important? 1,517,790 additional shares. 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 . Form 13F is required to be filed within 45 days of the end of a calendar quarter. Under Bidens plan, the federal government would forgive up to $20,000 in student loans per borrower, depending on their income-based eligibility. Questions to ask FINRA data last verified February 17, 2023. Bill Ackman's: Pershing Square Capital Management. 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. We use the change in the portfolio allocation because this is the most meaningful metric. This page was last edited on 1 February 2023, at 20:47 (UTC). This value is significant in that it is the last known price at which the security was still held. Scion Asset Management General Information. 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. MGM Resorts International (US:MGM) Portfolio manager(s) are listed as Michael Burry. Back on April 10, 2020, Michael Burry, who gained fame as a major character in the book and movie The Big Short, filed a 13D on Gamestop Inc. (GME) disclosing that his fund Scion Asset Management, LLC owned 5.3% of GME's outstanding shares. That said, the company has navigated these challenges quite competently, which, combined with its deep-value characteristics, explained why Dr. Burry has bet heavily on The GEO Group. Advertiser Disclosure: StockBrokers.com helps investors across the globe by spending over 1,000 hours each year testing and researching online brokers. Since 1999, Scion Advisory Services has been the sector's most trusted adviser, collaborating with clients on over 250 campuses and counting. There are currently 6 companies in Mr. Burrys portfolio. What does this mean and why is it important? 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. So is Burry less bearish on the U.S. economy than he was last year? 2023 NYP Holdings, Inc. All Rights Reserved, King of debt Joe Biden absurdly labels himself a deficit hawk, Teacher Randi Weingartens ignorant, anti-democratic rant, Bidens Ohio failure: Letters to the Editor March 2, 2023, Randi Weingarten has maniacal meltdown at student debt relief rally. [22] In 2020, the fund's largest investments were Alphabet Inc. ($121 million value) and Facebook ($24.4 million value). According to the last 13-F report filed with the SEC, Michael Burry serves as the Chief Executive Officer at Scion Asset Management. Scion Asset Management, LLC Portfolio Never miss a trade. Scion Asset Management's Portfolio - All 9 Public Equity Investments. Accordingly, he disregards price-to-earnings ratios to dodge being deceived by a companys stated metrics. The current portfolio value is calculated to be $47.00 Mil. The portfolio's exposure to China is also thought-provoking. Firm actively engages as insurance brokers or agents, or they are affiliated with an insurance company or agency. 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 . Our system has identified the following conflict alerts. Fintel is a registered trademark. 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. , If a user or application submits more than 10 requests per second, further requests from the IP address(es) may be limited for a brief period. Ray Dalio's: Bridgewater Associates. He then left to start his own hedge fund. Scion employs over 1,750 team members and has over $9 billion of assets under . [19] He has focused much of his attention on investing in water, gold, and farm land. Common Stock (US:US19247G1076) Eventually Burry closed his fund and retired. Portfolio 9 Options 0 Performance. He quickly earned extraordinary profits for his investors. Louis Bacon's: Moore Capital Management. The Scion Group is the largest owner/operator of off-campus student housing communities globally. This typically occurs when firms manage mutual funds or hedge funds alongside smaller retail accounts. [6] Scion Capital ultimately recorded returns of 489.34% (net of fees and expenses) between its November 1, 2000 inception and June 2008. Scion's new purchases consist of . 2015-2023 Fintel Ventures LLC. Alibaba is down 71% from its October 2020 peak. But critics have aired various concerns about Bidens plan, such as whether his executive order oversteps the presidents authority. Top 50 Scion Asset Management Holdings . 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. 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. Each month, the investor.com Trust algorithm downloads the latest regulatory data from the SEC IAPD database. Dr. Burry trimmed Scions position in The GEO Group by 47%, with the fund now owning around 0.85% of the companys outstanding shares. The fund's top five holdings, which we analyze below, account for 72.2% of its total public . What does this mean and why is this important? subsequently closed the Scion Capital fund and has since launched his latest fund, Scion Asset Management. Firm or an affiliate actively engages in business as a law firm or lawyer. As a result, we do not support personal reviews on the site. 66.7% of the portfolio companies Founded in 2013, Scion Asset Management is a multi-strategy hedge fund manager based in Saratoga, California. "[12], After shutting down his website in November 2000, Burry started the hedge fund Scion Capital, funded by an inheritance and loans from his family. Scion Asset Management also says it works to provide clients with a diverse mix of portfolio opportunities it believes will increase their chances of investment success. The firm owned 95,150 shares of the company's stock after purchasing an additional 57,650 shares during the period. Stocks with a size of more than $10 billion in market cap make up 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 firm doesn't work with individual investors, although individuals may invest in the funds for which it provides investment advisory services. Warren Buffett's: Berkshire Hathaway. There are currently 6 companies in Mr. Burry's portfolio. Scion Asset Management manages $291.7 million and provides investment advisory services for 4 clients (1 advisor/client ratio). 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. And we will have another inflation spike. Strategies arent specified: There isnt a lot of specificity provided . The firm's asset exposure includes equities, derivatives, and fixed income instruments. Scion Asset Management currently serves clients in the following states: CA, TN. These conflicts can negatively impact clients via hidden fees and overall higher costs. 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. 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". Operating as an online business, this site may be compensated through third party advertisers. Filing Date. Neither the SEC nor FINRA tracks portfolio performance metrics for the financial planning industry. Michael Burry of Scion Asset Management. Address: 20665 4th Street Suite 201. Our system found no disciplinary alerts. 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. The firm may also use leverage and derivative strategies to increase the rate of client success. of the fund's Consumer Discretionary sector allocation and has decreased its share price by approximately 0.1% in the past year. What does this mean and why is it important? For further detail, see our articles on different types of advisors and financial advisor services. compensation-related conflicts of interest, Types of Financial Advisors and How to Choose, What's a Fiduciary (and Why It Matters So Much). 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 example, front-running is when a financial professional buys or sell securities ahead of their client. 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. The largest investments include Geo and Qurate Retail Inc, together worth $25.6 million. Is your firm a broker-dealer or are you affiliated with one? 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 . Here's how we make money. All rights reserved. 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. Currently, Scion Asset Management's portfolio is worth at least $41.3 million. Dear Members of the Board, Scion Asset Management, LLC and its affiliates ("Scion") own approximately 2,000,000 shares, or about 2.21%, of GameStop, Inc. ("GameStop") common stock. 1001 and 1030). 0001567619-21-015632. In his words: All my stock picking is 100% based on the concept of a margin of safety.. 223.17% 10-Year Performance. Black Knight Inc (US:BKI) Thus, be mindful and conduct your own research before allocating your hard-earned money to any of these names. The next year, the S&P 500 fell again, by 22.1%, and Scion was up again: 16%. The company has been growing rapidly over the past few years while retaining compelling profitability levels. The Scion Group announced the addition of 32 high-quality assets and approximately 20,000 beds to its portfolio of student housing communities. Nothing on this website constitutes, or is meant to constitute, advice of any kind. ; Text is available under the Creative Commons Attribution-ShareAlike License 3.0; additional terms may . 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. This video discusses the update to Michael Burry's portfolio (Scion Asset Management). . When I left residency at Stanford to gamble my future on what was to become, I had well into six figures of educational debt. Scion Asset Management, LLC is a private investment firm founded and led by Dr. Michael J. Burry Scion Asset Management is an investment fund managing more than $41.3 million ran by Michael Burry. Questions to ask As a result, the company will soon be able to self-fund its growth and overall operations. Firm is a broker-dealer, or is affiliated with one, and may be subject to compensation-related conflicts of interest. Details on the strike price of the puts, their value and whether they were part of a broader trade were not available. , whose value fell approximately 0.1% in the past six months. 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). : 000000000 | State of Incorp. 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). These positions were updated on November 14th based on the funds latest 13F filing. In addition, the fund holds 5,000,000 shares of . We have concerns regarding capital management at . 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. Updated 05 Jan 2023. | Investormint", "EDGAR Filing Documents for 0001567619-19-004198", The Big Shorts Michael Burry Sees a Bubble in Passive Investing, "Michael Burry Portfolio / Scion Asset Management, LLC Holdings", "Michael Burry tweet, Dec. 1, 2020 (Internet Archive)", "Michael Burry of 'The Big Short' reveals a $530 million bet against Tesla", "Michael Burry of 'Big Short' Bets Against Cathie Wood's ARKK", "Author Michael Lewis on Wall Street's Delusion", "Legendary Investor Leaves Twitter, Lists 8 Metal Bands in Bio", "Where 'The Big Short's Michael Burry Is Today", "Michael Burry: Subprime Short-Seller No. Geo dropped approximately 0.1% in the past year. This means they effectively own 0.6% of the company. Geo dropped approximately 0.1% in the past year. Wolverine World Wide designs, produces, and distributes footwear, apparel, and other accessories globally. 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. The conservative-majority Supreme Court appeared skeptical of Bidens plan during hearings this week, raising doubts about the likelihood it will receive final approval. What does this mean? : DE | Fiscal Year End: 1231. He has Rusyn ancestry. Michael Burry's hedge fund's other holdings consist of: In general, Michael Burry's investment philosophy is based on fundamental analysis. What does this mean? What does this mean and why is it important? These companies are located in Dover DE, Madison WI, and Saratoga CA. According to author Michael Lewis, "in his first full year, 2001, the S&P 500 fell 11.88%. 408-441-8400 The portfolio numbers only nine equities, with The GEO Group accounting for 20.4% of its holdings. He only looks for their undervalued elements, regardless of their sector and class. Relative to the number of outstanding shares of Geo, Scion Asset Management owns more than approximately 0.1% of the company. Common Stock (US:US19247G1076) Wolverine World Wide, Inc. (US:WWW) Regulatory disclosures state that firm sells proprietary investments and products. exclusive offers, they cannot pay to alter our recommendations, advice, ratings, or any other content throughout the site. This means they effectively own 0.6% of the company. Scion Capital returned 489.34% (net of fees and expenses) between November 1, 2000 and June 2008 compared to 3% total return from S&P 500 during the same time frame. 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. The funds top five holdings, which we analyze below, account for 72.2% of its total public equity exposure. Questions to ask He famously bet against the real estate market in 2008 which is documented in the movie "The Big Short", based on the best-selling book by Michael Lewis. What does this mean? These commissions may be earned from the sale of investment or insurance products and are paid by the companies providing the products being sold. , As a consumer advocacy project, investor.com does not charge any licensing fees for earned state accolade badges. 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. That would put the U.S. in a recession under "any definition.". A domestic or foreign court has previously found firm or an advisory affiliate was involved in a violation of investment-related statutes or regulations. He had already built a reputation as an investor at the time by exhibiting success in value investing. Terms of Use | Disclaimers | Privacy Policy. 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. 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. 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. What does this mean? WRITE REVIEW. 18951. A self-regulatory organization or commodities exchange has found firm or an advisory affiliate to have been involved in a violation of its rules. Michael Burry's Scion Asset Management jettisoned 11 US equities in the second quarter and ended the period with just one. Which securities does your firm trade for itself that it will also be recommending to me? The portfolio numbers only nine equities, with The GEO Group accounting for 20.4% of its holdings. Primary Business Name: SCION ASSET MANAGEMENT, LLC CRD Number: 167772 Other-Than-Annual Amendment - All Sections Rev. The holding were 650,000 shares as of 2021-03-31. 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. <style> body { -ms-overflow-style: scrollbar; overflow-y: scroll; overscroll-behavior-y: none; } .errorContainer { background-color: #FFF; color: #0F1419; max-width . Apply for Trusted badge. Firm or an advisory affiliate has previously been fined or ordered to cease and desist activity by the SEC or CFTC. In Michael Burry's current portfolio as of 2022-12-31, the top 5 holdings are The GEO Group Inc (GEO), Black Knight Inc . In total, Scion Asset Management manages $291.7 million in assets. 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). It's not hard.". 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.