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. SCION ASSET MANAGEMENT, LLC is a financial services company based out of 20400 STEVENS CREEK BOULEVARD, CUPERTINO, California, United States. For further detail, see our articles on different types of advisors and financial advisor services. Since 1999, Scion Advisory Services has been the sector's most trusted adviser, collaborating with clients on over 250 campuses and counting. CALIFORNIA LIMITED-LIABILITY COMPANY - OUT OF STATE. 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. Top 50 Scion Asset Management Holdings . Scion Asset Management Holdings Heatmap . 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. Is your firm affiliated with a law firm in any capacity? Average metrics of all companies in portfolio . Note that this policy may change as the SEC manages SEC.gov to ensure that the website performs efficiently and remains available to all users. What does this mean? 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. 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. 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. 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. 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 . 20665 4th Street, Suite 201. More than 90% of the beds are located in the US. 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. Click the link icon to see the full transaction history. He then left to start his own hedge fund. Through his analysis of mortgage lending practices in 2003 and 2004, he correctly predicted that the real estate bubble would collapse as early as 2007. Firm or an advisory affiliate has previously had their authorization to act as an attorney, accountant, or federal contractor revoked or suspended. All rights reserved. As a result, we do not support personal reviews on the site. The bottom line has softened lately as a result of inflationary pressures and supply chain inefficiencies, but profits are still substantial. Charlie Munger - Daily Journal Corp. What does this mean? Performance. Investors profit from puts when the . Firm or a related person trades securities for themselves that they also recommend to their clients. 340.42% 1Y 3Y 5Y 10Y. 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. Rather, he pays attention to off-balance sheet metrics and naturaly, free cash flow. What does this mean? [] If you require advice in relation to any financial matter you should consult an appropriate professional. What does this mean? A good way to understand Burry's thinking and Scion Asset Management's . Questions to ask This video discusses the update to Michael Burry's portfolio (Scion Asset Management). See how we calculate 13F filing performance here. 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. They manage Please provide me a list of the products and a summary of how much your firm earns from them. Most recent portfolio value is calculated to be $ 46,536,925 USD. Qurate Retail Inc and bought 5,000,000 shares worth $10.1 million. Michael Burry shed light on his bet against Tesla in a regulatory filing on Monday. Thank you for your interest in the U.S. Securities and Exchange Commission. Chase Coleman's: Tiger Global Management. What does this mean? Currently, Scion Asset Management's portfolio is worth at least $41.3 million. and David Einhorn's: Greenlight Capital. Will any of my assets be invested in those products? Fintel is a registered trademark. Thus, be mindful and conduct your own research before allocating your hard-earned money to any of these names. 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 misdemeanor involving: investments or an investment-related business, or any fraud, false statements, or omissions, wrongful taking of property, bribery, perjury, forgery, counterfeiting, extortion, or a conspiracy to commit any of these offenses. Scion Asset Management's public equity portfolio is heavily concentrated. 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. Michael Burry is an American investor, and hedge fund manager. 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%. The funds top five holdings, which we analyze below, account for 72.2% of its total public equity exposure. The firm's asset exposure includes equities, derivatives, and fixed income instruments. After medical school, Burry worked as a Stanford Hospital neurology resident, then a Stanford Hospital pathology resident. Our system found no disciplinary alerts. Eventually Burry closed his fund and retired. Reference ID: 0.35841402.1677949840.1dcfc4e. [17] He subsequently liquidated his company to focus on his personal investments. Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. Saratoga, CA 95070. Unlike HTTPS connections, HTTP connections are not encrypted. While partners may pay to provide offers or be featured, e.g. The Scion Asset Management office and employees reside in Saratoga, California. 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. . Our receipt of such compensation shall not be construed as an endorsement or recommendation by StockBrokers.com, nor shall it bias our reviews, analysis, and opinions. What does this mean? Questions to ask 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 . 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. Our searchable database of U.S.-based financial advisors includes more than 17,000 firms across the country. Based in Saratoga, Calif., Scion has just six employees, two of whom . [22] In 2020, the fund's largest investments were Alphabet Inc. ($121 million value) and Facebook ($24.4 million value). He has warned a severe recession on several occasions over the last year. By Steve Burns. This makes their stake in Geo total 2,019,150 shares worth $15.5 million. Regulatory disclosures state that firm sells proprietary investments and products. What does this mean? Form 13F is required to be filed within 45 days of the end of a calendar quarter. At the age of two he lost his left eye to retinoblastoma[3] and has had a prosthetic eye ever since. What does this mean and why is it important? He also urged investors to liquidate their stocks. He has said, "Fresh, clean water cannot be taken for granted. Since Jun 2013. While Scion Asset Managements portfolio lacks diversification, its holdings come with characteristics that reflect Dr. Burrys principles. Scion's current portfolio consists of nearly 82,000 beds of student accommodations in 126 communities, serving 76 college and university markets across 33 U.S. states. For example, front-running is when a financial professional buys or sell securities ahead of their client. Our partners compensate us through paid advertising. 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. Maintain the physical condition of the property according to The Scion Group's Standard Operating Procedures, OSHA and Industry standards. Strategies arent specified: There isnt a lot of specificity provided . These filings are called "notice filings". 0001567619-21-010281.txt. Hedge fund boss Michael Burry is warning of terrible consequences for the US if the Biden administrations student loan debt forgiveness plan is upheld. compensation-related conflicts of interest, Types of Financial Advisors and How to Choose, What's a Fiduciary (and Why It Matters So Much). 2022-07-28: Important Note - We have changed the treatment of the, LILAK / Liberty Latin America Ltd Class C. Specifically, his picks were published on message boards on the stock discussion site Silicon Investor back in 1996, with their returns being outstanding! 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. Stock Company Name % of Portfolio Shares Owned Value Change in Shares Ownership History Black Knight is a new holding for Scion Asset Management, initiated in its most recent quarterly filings. 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. What does this mean? [18] He faulted federal regulators for failing to listen to warnings from outside a closed circle of advisors. Neither the SEC nor FINRA tracks portfolio performance metrics for the financial planning industry. , Operating as an online business, this site may be compensated through third party advertisers. However, Burry is also known to take an approach that often contradicts what the broad market dictates. 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. Mailing Address 20665 4TH STREET SUITE 201 SARATOGA CA 95070. Business Address 20665 4TH STREET SUITE 201 SARATOGA CA 95070 408-441-8400. He only looks for their undervalued elements, regardless of their sector and class. Fintel makes no representations or warranties in relation to this website or the information and materials provided on this website. To see the historical data of Scion Asset Management's portfolio holdings please click on the "2022 Q4" dropdown menu and select the date. The GEO Group Inc (US:GEO) The portfolio numbers only nine equities, with The GEO Group accounting for 20.4% of its holdings. Alibaba Group Holding Limited ADR (US:BABA) A domestic or foreign court has previously found firm or an advisory affiliate was involved in a violation of investment-related statutes or regulations. Scion Asset Management, LLC Portfolio Never miss a trade. The Servicing Digital segment offers web and mobile solutions for consumers that deliver easy access to customized, timely information about their mortgages. . This value is significant in that it is the last known price at which the security was still held. The fund focuses on investments in the United States as These commissions may be earned from the sale of investment or insurance products and are paid by the companies providing the products being sold. Description. It is now the funds second-largest holding, accounting for 18.3% of its holdings. With headquarters in New York and offices in London and Guernsey, Sciens has been investing in real assets strategies since 2007. 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. This website is provided as is without any representations or warranties, express or implied. How many times did it occur? The company is currently facing heavy challenges, including all major banks cutting ties with private prisons and President. 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. 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. : 000000000 | State of Incorp. Scion Asset Management, registered in 2018, serves 2 state(s) with a licensed staff of 4 advisors. Why doesnt your firm use a secure website? 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. Firm actively engages as insurance brokers or agents, or they are affiliated with an insurance company or agency. 1-Year Performance. Burry has amassed more than 1.4 million followers on Twitter, where he frequently tweets and then deletes his predictions about the US economy. 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. The impact to a portfolio due to this purchase was 0.65%. This means they effectively own 0.6% of the company. The portfolio numbers only nine equities, with The GEO Group accounting for 20.4% of its holdings. At 06/30/2022: $3,309. It is now the funds fifth-largest holding, accounting for 10.0% of its holdings. Questions to ask assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents. 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. SkyWest, Inc. (US:SKYW) [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. Scion Asset Management manages $291.7 million and provides investment advisory services for 4 clients (1 advisor/client ratio). With GME then traded around $4, Burry disclosed he'd previously sent GME's board several letters recommending an aggressive share buyback. Investor.com is your trustworthy guide to the world of personal finance. Lets not forget that the student debt problem is built on a foundation of terrible major choices, Burry, 51, tweeted on Tuesday. We have concerns regarding capital management at . And JD.com is in a similar situation, being 57% below its peak in February 2021. By visiting these sites, you are subject to their terms of use (IAPD, BrokerCheck). Terms of Use | Disclaimers | Privacy Policy. 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. The firm owned 95,150 shares of the company's stock after purchasing an additional 57,650 shares during the period. Michael Burry . How does your firm mitigate them? Black Knight is a new holding for Scion Asset Management, initiated in its most recent quarterly filings. A regulatory agency has previously denied, suspended, or revoked the firms or an advisory affiliates registration or license or otherwise restricted their activities. 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. Scion Asset Management, LLC initiated holding in Lumen Technologies Inc. Quickly find out what the most recently closed or increased positions are. 66.7% of the portfolio companies 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. [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. What does this mean? Black Knight Inc (US:BKI) 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. Scion Asset Management is a small firm focused on serving institutional investors, and pooled investment vehicles in particular. 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 . This could also limit the number and diversity of investment options available and may impact their transferability. Scion Asset Management is an investment fund managing more than $41.3 million ran by Michael Burry. Also, the article may contain affiliate links. the total portfolio value. 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