[22] In 2020, the fund's largest investments were Alphabet Inc. ($121 million value) and Facebook ($24.4 million value). . Sensitive information sent over an HTTP connection can easily be eavesdropped on by third-parties. 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For more information, please see the SECs Web Site Privacy and Security Policy. Scion Asset Management has become increasingly popular due to Dr. Burrys ability to identify undervalued investment opportunities around the world. 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. [] Firm can legally elect to accept commissions for their investment advisory services. Terms of Use | Disclaimers | Privacy Policy. Thanks for supporting the Wall Street Memes). Scion's new purchases consist of . And we will have another inflation spike. 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. Firm or a related person trades securities for themselves that they also recommend to their clients. subsequently closed the Scion Capital fund and has since launched his latest fund, Scion Asset 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. What percentage of income does your firm receive from fees versus commissions? Saratoga, CA 95070, 30 Burton Hills Blvd Suite 315, Nashville, Tennessee 37215. Scion Asset Management - Michael Burry - Insider Monkey What does this mean and why is it important? Alibaba is down 71% from its October 2020 peak. The total portfolio value may be much higher due to cash All rights reserved. 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). SCION ASSET MANAGEMENT, LLC SC 13D Filing Concerning GME on 2020-04-02 At the age of two he lost his left eye to retinoblastoma[3] and has had a prosthetic eye ever since. He only looks for their undervalued elements, regardless of their sector and class. Here's what investors need to know about Michael Burry's long positions. 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 . To file a complaint or dispute with this firm, please fill out the SEC Investor Complaint Form. [9] His son was diagnosed with Asperger syndrome, and Burry believes he himself has Asperger syndrome after reading about the disorder. Scion Asset Management's Portfolio - All 9 Public Equity Investments. $41.4 million and $41.2 million respectively. 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. Will any of my assets be invested in those products? With GME then traded around $4, Burry disclosed he'd previously sent GME's board several letters recommending an aggressive share buyback. His solemn investing philosophy has resulted in outsized market returns over the past few years, beating the S&P 500 by a wide margin. 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. 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. 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. PDF Form Adv - Sec Investors profit from puts when the . Scion Asset Management, LLC (Filer) CIK: 0001649339 (see all company filings) IRS No. The portfolio numbers only nine equities, with The GEO Group accounting for 20.4% of its holdings. He quickly earned extraordinary profits for his investors. Scion Announces Addition of 20,000 Beds to its Portfolio of Student 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. Founded in 2003, Scion Asset Management, LLC is a private investment firm led by investing guru Dr. Michael J. Burry. Scion employs over 1,750 team members and has over $9 billion of assets under . What does this mean? This could also limit the number and diversity of investment options available and may impact their transferability. 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". John Rogers - Ariel Appreciation Fund Updated 11 Jan 2023. Scion Asset Management, registered in 2018, serves 2 state(s) with a licensed staff of 4 advisors. Thank you for your interest in the U.S. Securities and Exchange Commission. But critics have aired various concerns about Bidens plan, such as whether his executive order oversteps the presidents authority. Questions to ask The Scion Group announced the addition of 32 high-quality assets and approximately 20,000 beds to its portfolio of student housing communities. Burry has a strictly traditional understanding of value. Mailing Address 20665 4TH STREET SUITE 201 SARATOGA CA 95070. Business Address 20665 4TH STREET SUITE 201 SARATOGA CA 95070 408-441-8400. For the most up-to-date information, please view the applicable SEC and FINRA reports above. Michael Burry - Scion Asset Management, LLC - Portfolio Holdings - Fintel Data is sourced from 13D/13G, 13F, and N-Q filings. Scion Asset Management Review. 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. Competition has been eating the companys lunch for years, with Wolverine having a hard time sustaining its sales over the past decade, let alone growing them. [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. He has Rusyn ancestry. 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. These filings are called "notice filings". The two most similar investment funds to Scion Asset Management are Centurylink Investment Management Co and Secrest Blakey & Associates. Follow Tweet. Cathie Wood says Michael Burry doesn't understand innovation space What does this mean and why is it important? Scion Asset Management Investor Profile: Portfolio & Exits | PitchBook Does your firm, or anyone associated with the firm, practice as a law firm? 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. Form 13F-HR - Quarterly report filed by institutional managers, Holdings: SEC Accession No. 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. 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. Michael Burry shed light on his bet against Tesla in a regulatory filing on Monday. financing, asset management, . 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. Michael Burry is Betting Everything on These 6 Stocks The following positions are based on the last Q1 2021 13F filing as of 3-31-2021, with his top 10 holdings making up 91.57% of his portfolio. The headquarters of Scion Asset Management is 20665 4th Street, Suite 201. As a result, unlike hedge funds, there is no historical performance for any financial advisory firm. Wolverine World Wide, Inc. (US:WWW) What conflicts do I need to be made aware of? (Disclaimers: this is not investment advice. 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 is a low margin business in the first place, and so despite the company posting record revenues last year, it saw a decline in earnings. I was damned sure I was going to pay it off. Under Bidens plan, the federal government would forgive up to $20,000 in student loans per borrower, depending on their income-based eligibility. The president and supporters of his plan argue student loan debt forgiveness will provide much-needed relief to million debt-saddled Americans. Here you can find the latest trades based on Burry's 13F filings and insider trades. [4] As a teenager, he attended Santa Teresa High School. Nevertheless, it is Dr. Burrys legendary plays prior to the Great Financial Crisis, and the massive returns that followed that pushed his name into the international spotlight. Hedge Fund and Insider Trading News: Michael Burry, Bridgewater The average market cap of the portfolio companies is close to $2.02 billion. Firm or an advisory affiliate was previously found to have made false statements, omissions, or being dishonest and unfair by a regulatory agency other than the SEC or CFTC. [30], Burry is married, with children, and was living in Saratoga, California in 2010. Specifically, The GEO Group has suspended its dividends, which has allowed the company to deleverage rapidly. Burry may have missed out on a big windfall by selling his stock, but he also avoided a dramatic decline. Michael Burry's Stock Market Holdings (Filed Feb 14, 2022) This means they effectively own 0.6% of the company. According to the last 13-F report filed with the SEC, Michael Burry serves as the Chief Executive Officer at Scion Asset Management. As a financial advisory firm, Scion Asset Management can provide a variety of financial planning services for Americans. This website is provided as is without any representations or warranties, express or implied. Current Michael Burry Portfolio 2020 Update - New Trader U Scion Asset Management, LLC's top holdings are Apply for Trusted badge. EXHIBIT C. July 28, 2019. Relative to the number of outstanding shares of Geo, Scion Asset Management owns more than approximately 0.1% of the company. Firm or an advisory affiliate has previously had an investment-related civil action dismissed against them following a cash settlement in court. Firm or related person receives soft-dollar benefits in connection with client securities transactions. The fund focuses on investments in the United States as Scion Asset Management Q4 '22 Top Holdings (Author Spreadsheet 13F Data) Largely unrelated to one's personal attitude or opinion of Michael Burry, there are few 13F's in the industry that are more . Visit Site, Is this your firm? Top 10 Stocks Held By Scion Asset Management LLC FINRA data last verified February 17, 2023. Michael Burry Stock Portfolio 2023 - Scion Asset Management Holdings 13F Scion Asset Management: Michael Burry: 22.59%: $46538000: 9: Top Holdings Largest Trades Portfolio Structure Sector Allocation Performance History. Scion Asset Management Portfolio | Michael Burry 13F Holdings & Trades 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. Scion Asset Management is an investment fund managing more than $41.3 million ran by Michael Burry. EDGAR Filing Documents for 0001567619-21-015632 - SEC All requests for updated information should also be reported directly to the SEC and/or FINRA. Follow Tweet. That would put the U.S. in a recession under "any definition.". Top 50 Scion Asset Management Holdings . The Scion Asset Management manager revealed the purchase of seven new stocks in the last quarter. The hedge fund exited positions including Alphabet Inc. and Facebook . 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. SCION ASSET MANAGEMENT, LLC. Our partners compensate us through paid advertising. $48 Million Michael Burry Portfolio / Scion Asset Management, LLC While partners may pay to provide offers or be featured, e.g. Bailing generations out of those bad choices will mean more bad choices, tuition hikes, and terrible consequences for America, he added. Burry predicted, "Fed will cut and government will stimulate. Scion Asset Management, LLC has disclosed 9 total holdings in their latest SEC filings. Dr. Michael J. Burry is a well known investor and hedge fund manager of Scion Asset Management, LLC Holdings. What does this mean? Burry, who is primarily known for his "Big Short" position, has made predictions about 2023, and these may be well expressed in short positions. Scion Asset Management: Michael Burry: 22.59%: $46538000: 9: Top Holdings Largest Trades Portfolio Structure Sector Allocation Performance History. He named it after Terry Brooks' The Scions of Shannara (1990), one of his favorite novels. The Company serves clients in the United States. Perform physically demanding work to maintain the asset, and other property features to minimize liability concerns. Scion Asset Management, LLC initiated holding in Lumen Technologies Inc. Will any of my assets be invested in those products? When I left residency at Stanford to gamble my future on what was to become, I had well into six figures of educational debt. Note: We do not offer technical support for developing or debugging scripted downloading processes. 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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. What does this mean and why is this important? By visiting these sites, you are subject to their terms of use (IAPD, BrokerCheck). 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. Eventually Burry closed his fund and retired. Hedge fund boss Michael Burry is warning of terrible consequences for the US if the Biden administrations student loan debt forgiveness plan is upheld. In total, Scion Asset Management manages $291.7 million in assets. 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. Firm performs side-by-side management with accounts that have differing fee structures. Reference ID: 0.35841402.1677949840.1dcfc4e. So is Burry less bearish on the U.S. economy than he was last year? 'Big Short' fund manager Burry dumps portfolio, buys prison stock Warren Buffett's: Berkshire Hathaway. Private prison giants The GEO Group accounts for 20.4% of Scion Assets management public equity holdings. Verition Fund Management LLC Acquires 57,650 Shares of ScION Tech 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. Michael Burry Portfolio and News | GuruFocus IAPD - Investment Adviser Public Disclosure - Homepage 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. His research on the values of residential real estate convinced him that subprime mortgages, especially those with "teaser" rates, and the bonds based on these mortgages, would begin losing value when the original rates were replaced by much higher rates, often in as little as two years after initiation. On February 14, Michael Burry filed his company's holdings report with the SEC. [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]. A quarter of the portfolio is made up of consumer discretionary companies. The next year, the S&P 500 fell again, by 22.1%, and Scion was up again: 16%. While Scion Asset Managements portfolio lacks diversification, its holdings come with characteristics that reflect Dr. Burrys principles. The GEO Group: Michael Burry Is Teaching The Market A Lesson - SeekingAlpha 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. Michael Burry's hedge fund Scion Asset Management is based in Saratoga, California and manages capital for 5 clients. There are currently 6 companies in Mr. Burrys portfolio. are based in the United States. 223.17% 10-Year Performance. Scion Asset Management, LLC Holdings. 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. You wont receive financial advice or any financial planning services as an individual investor, and you can only invest in the available funds that the firm oversees. Scion Asset Management Urges GameStop to Buy Back $238 Million of Stock Does your firm offer mutual funds that have 12b-1 fees? $48.3 Million Total portoflio value. Stock Company Name % of Portfolio Shares Owned Value Change in Shares Ownership History 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. Michael Burry's Hedge Fund Scion Buys GEO Stock, Dumps META, GOOGL 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 . Advertiser Disclosure: StockBrokers.com helps investors across the globe by spending over 1,000 hours each year testing and researching online brokers. , The Software Solutions segment provides software and hosting solutions comprising MSP, a SaaS application platform for mortgages, home equity loans, and lines of credit. Northport Investment Management, Albatross Investment Services, Lynn H. ORR Capital Management Group, Level Partners Management, Allvestments, Was this helpful? Burry was born and grew up in San Jose, California.