Should I Hire a Financial Advisor or DIY It? Financial planning services can include tax planning, estate planning, retirement planning, or life-based event planning such as saving for college, getting married, purchasing a home, paying down debt, or planning an inheritance. Several times last year, Burry predicted a stock market crash by betting that inflation would not give way. The author may be long one or more stocks mentioned in this report. What does this mean and why is it important? Quickly find out what the most recently closed or increased positions are. Is your firm a broker-dealer or are you affiliated with one? 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. The portfolio is made up of a total of 102 facilities, including 82,000 beds. Why has Burry, who is bearish on the . Also, the article may contain affiliate links. Particularly, in 2005, Dr. Burry started to concentrate on the subprime market. To allow for equitable access to all users, SEC reserves the right to limit requests originating from undeclared automated tools. Our searchable database of U.S.-based financial advisors includes more than 17,000 firms across the country. What does this mean? Stock Company Name % of Portfolio Shares Owned Value Change in Shares Ownership History 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. Bruce Berkowitz's: Fairholme Capital Management. What does this mean and why is it important? 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. Furthermore, our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data. 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 turnover rate is 70%. What conflicts arise from this relationship? To see the historical data of Scion Asset Management's portfolio holdings please click on the "2022 Q4" dropdown menu and select the date. These conflicts can negatively impact clients via hidden fees and overall higher costs. compensation-related conflicts of interest, Types of Financial Advisors and How to Choose, What's a Fiduciary (and Why It Matters So Much). Address: 20665 4th Street Suite 201. 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 . The firm's asset exposure includes equities, derivatives, and fixed income instruments. He looks for investments in undervalued companies with strong long-term prospects. SCION ASSET MANAGEMENT, LLC | 2,358 followers on LinkedIn. See how we calculate 13F filing performance here, Scion Asset Management / Michael Burry holdings now, Scion Asset Managements Fund Manager, Michael Burry, Scion Asset Managements Investment Philosophy & Strategy, Scion Asset Managements Noteworthy Portfolio Changes, Scion Asset Managements Portfolio All 9 Public Equity Investments, 20 Highest Yielding Monthly Dividend Stocks, Liberty Latin America Ltd Class C (LILAK). So while Michael Burry's hedge fund has about $46.5 million in long positions reported in its 13F, it is likely that behind this may be another "big short." The total portfolio value may be much higher due to cash How does your firm mitigate them? Questions to ask
Since Jun 2013. Questions to ask
In total, Scion Asset Management manages $291.7 million in assets. ", "Why Is Michael Burry Investing In Water? By visiting these sites, you are subject to their terms of use (IAPD, BrokerCheck). [] Scion Asset Management Holdings Heatmap . Bloomberg via Getty Images. Details on the strike price of the puts, their value and whether they were part of a broader trade were not available. We reserve the right to block IP addresses that submit excessive requests. Hedge fund boss Michael Burry is warning of terrible consequences for the US if the Biden administrations student loan debt forgiveness plan is upheld. Strategies arent specified: There isnt a lot of specificity provided . 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. What percentage of income does your firm receive from fees versus commissions? A regulatory agency other than 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. [18] He faulted federal regulators for failing to listen to warnings from outside a closed circle of advisors. 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, LLC has disclosed 9 total holdings in their latest SEC filings. 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. Portfolio Gain +257.56%. Accordingly, he disregards price-to-earnings ratios to dodge being deceived by a companys stated metrics. 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 . Hedge Fund Manager. Perform physically demanding work to maintain the asset, and other property features to minimize liability concerns. Common Stock (US:US19247G1076) Does your firm, or anyone associated with the firm, practice as a law firm? Here you can find the latest trades based on Burry's 13F filings and insider trades. SCION ASSET MANAGEMENT, LLC. 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. , 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. Michael Burry is head of Scion Asset Management. These filings are called "notice filings". Firm or an advisory affiliate has previously had an investment-related civil action dismissed against them following a cash settlement in court. What does this mean? 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. As a consumer advocacy project, investor.com does not charge any licensing fees for earned state accolade badges. It is now the funds fifth-largest holding, accounting for 10.0% of its holdings. What does this mean? 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. , All requests for updated information should also be reported directly to the SEC and/or FINRA. Financial professionals should disclose all positions they hold (or have sold short) that they will also be recommending to their clients. Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. 18951. 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 . What does this mean and why is this important? Michael Burry is an American investor, and hedge fund manager. 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. 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 Managements portfolio is diversified across 5 sectors. Please send any feedback, corrections, or questions to support@suredividend.com. Average metrics of all companies in portfolio . | 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. The Scion Asset Management chief's grim prediction may be coming true, as the S&P 500 and Nasdaq indexes tumbled by 19% and 33% respectively in 2022. Michael Burry's Scion Asset Management jettisoned 11 US equities in the second quarter and ended the period with just one. The S&P 500, widely regarded as the benchmark for the US market, returned just under 3%, including dividends over the same period. 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. By Steve Burns. 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. Is your firm affiliated with a law firm in any capacity? However, Dr. Burry has a much broader track record in the investing world. And we could be headed for another recession. This could be detrimental to a client during down markets. Disclaimer: It is our organization's primary mission to provide reviews, commentary, and analysis that are unbiased and objective. [6] Scion Capital ultimately recorded returns of 489.34% (net of fees and expenses) between its November 1, 2000 inception and June 2008. At 06/30/2022: $3,309. WRITE REVIEW. $48.3 Million Total portoflio value. The purchase prices were between $9.72 and $15.36, with an estimated average price of $12.41. 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. The fund only has four clients. Furthermore, Burry has predicted a vicious cycle in which the Fed raises interest rates to a level not seen since the 2008 crisis. Firm or a related person trades securities for themselves that they also recommend to their clients. Researcher and operations manager at DM Martins Research. What does this mean? 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 . 223.17% 10-Year Performance. This website is provided as is without any representations or warranties, express or implied. Black Knight Inc (US:BKI) The conservative-majority Supreme Court appeared skeptical of Bidens plan during hearings this week, raising doubts about the likelihood it will receive final approval. [30], Burry is married, with children, and was living in Saratoga, California in 2010. and [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. : 000000000 | State of Incorp. Five years later in 2013 Michael Burry reopened his fund with slightly changed name Scion Asset Management. What does this mean? Scion Asset Management is headquartered in Saratoga, California. This page was last edited on 1 February 2023, at 20:47 (UTC). On February 14, Michael Burry filed his company's holdings report with the SEC. It is now the funds third-largest holding, accounting for 12.8% of its holdings. Dr. Burry does not differentiate between small-caps, mid-caps, tech stocks, or non-tech stocks. Scion Asset Management, LLC What conflicts do I need to be made aware of? Follow Tweet. 0001567619-21-010281.txt. Thank you for your interest in the U.S. Securities and Exchange Commission. Neither the SEC nor FINRA tracks portfolio performance metrics for the financial planning industry. Questions to ask
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 operates as an investment firm. 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 impact to a portfolio due to this purchase was 0.65%. He has stated more than once that his investment style is based on Benjamin Graham and David Dodds 1934 book Security Analysis. What does this mean? Please declare your traffic by updating your user agent to include company specific information. [17], In an April 3, 2010 op-ed for The New York Times, Burry argued that anyone who studied the financial markets carefully in 2003, 2004 and 2005 could have recognized the growing risk in the subprime markets. Portfolio manager(s) are listed as Michael Burry. Sure Dividend compiles the following stock market databases and updates them monthly: Thanks for reading this article. The firm owned 95,150 shares of the company's stock after purchasing an additional 57,650 shares during the period. 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. He had already built a reputation as an investor at the time by exhibiting success in value investing. How does your firm mitigate conflicts that arise from managing accounts with differing fee structures? He named it after Terry Brooks' The Scions of Shannara (1990), one of his favorite novels. Point72 Asset Management . Performance. Will any of my assets be invested in those products? 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. 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. Relative to the number of outstanding shares of Geo, Scion Asset Management owns more than approximately 0.1% of the company. "[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. 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. After attending medical school, Dr. Burry left to start his own hedge fund in 2000. Any data inaccuracies, please contact our team. 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. Michael Burry of Scion Asset Management. 100.0% 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 General Information. 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%. Scion Asset Management: Michael Burry: 22.59%: $46538000: 9: Top Holdings Largest Trades Portfolio Structure Sector Allocation Performance History. The next year, the S&P 500 fell again, by 22.1%, and Scion was up again: 16%. Note: We do not offer technical support for developing or debugging scripted downloading processes. [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. 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. We've received your submission. A regulatory agency has previously denied, suspended, or revoked the firms or an advisory affiliates registration or license or otherwise restricted their activities. 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. 0001567619-21-015632. The collapse of the real estate market in 2008 was a key event leading to the global financial crisis. 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. For further detail, see our articles on different types of advisors and financial advisor services. The advisory also believes in using fundamental analysis methods to assess . has disclosed 9 total holdings in their latest SEC filings. Heejin Kim and Myungshin Cho (29 August 2019). The Scion Asset Management manager revealed the purchase of seven new stocks in the last quarter. The SEC or CFTC has previously entered an order against this firm or an advisory affiliate in connection with an investment-related activity. Our system found no disciplinary alerts. Scion Asset Management - Michael Burry assets under management (13F Holdings listing stock ownership and transaction history) provided by Insider Monkey. The following data is gathered from Scion Asset Management's latest 13F filing with the SEC for the reporting period of September 30, 2022. Firm is a broker-dealer, or is affiliated with one, and may be subject to compensation-related conflicts of interest. Saratoga, CA 95070. "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. financing, asset management, . Warren Buffett's: Berkshire Hathaway. , Founded in 2013, Scion Asset Management is a multi-strategy hedge fund manager based in Saratoga, California. In the past 10 years, a domestic or foreign court has issued an injunction against the firm or an advisory affiliate in connection with an investment-related activity. '[26] In May 2021, it was reported that he held puts on over 800,000 shares of Tesla. Questions to ask
What does this mean? The Scion Asset Management office and employees reside in Saratoga, California. Why does your firm believe in offering commission-based services to clients? 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. Co-producer of The Street's financial channels: Apple Maven, Amazon Maven and Wall Street Memes. Scion Asset Management. The firm's website is not secure by modern internet standards. 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. Portfolio manager(s) are listed as Michael Burry. 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. 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. For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. U.S Market Open - Market Closes in 49M 55S. His solemn investing philosophy has resulted in outsized market returns over the past few years, beating the S&P 500 by a wide margin. Most recent portfolio value is calculated to be $ 46,536,925 USD. For comparison, the S&P 500 ETF (SPY) generated annualized total returns of 7.5% over the same time period. The company has been growing rapidly over the past few years while retaining compelling profitability levels. Currently, Scion Asset Management's portfolio is worth at least $41.3 million. 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. More than 90% of the beds are located in the US. Michael Burry's hedge fund's other holdings consist of: In general, Michael Burry's investment philosophy is based on fundamental analysis. With GME then traded around $4, Burry disclosed he'd previously sent GME's board several letters recommending an aggressive share buyback. The GEO Group is a specialty REIT that owns, operates, and manages correctional, detention, and reentry facilities in the US, UK, South Africa, and Australia. All rights reserved. Aside from potential increases to the cost of education, Burry did not elaborate on what terrible consequences he foresees for the country. What does this mean? Scion Asset Management, registered in 2018, serves 2 state (s) with a licensed staff of 4 advisors. This form was filed on 2023-02-14 for the reporting period 2022-12-31. Does your firm recommend securities that it or its affiliates underwrite, or in which it serves as general or managing partner? 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. MGM Resorts International (US:MGM) Burry was born and grew up in San Jose, California. "[6] Burry was able to achieve these returns partly by shorting overvalued tech stocks at the peak of the internet bubble. Firm actively engages as insurance brokers or agents, or they are affiliated with an insurance company or agency. The firm may also use leverage and derivative strategies to increase the rate of client success. As a Certified B Corporation, our focus is simple: people before profits. Fintel makes no representations or warranties in relation to this website or the information and materials provided on this website. When? T. Black Knight offers blended software, data, and analytics solutions all over the globe. Does your fim accept soft-dollar benefits? Scion Asset Management, registered in 2018, serves 2 state(s) with a licensed staff of 4 advisors. We use the change in the portfolio allocation because this is the most meaningful metric. While StockBrokers.com has all data verified by industry participants, it can vary from time to time. Each month, the investor.com Trust algorithm downloads the latest regulatory data from the SEC IAPD database. By the end of 2004, he was managing $600 million and turning money away. Unlike HTTPS connections, HTTP connections are not encrypted. assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents. 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. While this can be seen as "eating your own cooking," there are conflicts that may arise. These positions were updated on November 14th based on the funds latest 13F filing. Michael Burry is likely betting on Wolverine as a distressed equity play, as the companys sales are still more than twice its current market cap. 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. Scion Asset Management, LLC is a private investment firm founded and led by Dr. Michael J. Burry Financial plans and investment portfolios are always unique to the client's personal financial situation. He has warned a severe recession on several occasions over the last year. Ray Dalio's: Bridgewater Associates. Click the link icon to see the full transaction history. I was damned sure I was going to pay it off.. 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. What does this mean? Additionally, the company has been utilizing loopholes through third parties, which essentially still allows it to deal with federal agencies. What does this mean and why is it important? Saratoga, CA 95070. Top 50 Scion Asset Management Holdings . Scion Asset Management's Portfolio - All 9 Public Equity Investments. They manage Private prison giants The GEO Group accounts for 20.4% of Scion Assets management public equity holdings. In Michael Burry's current portfolio as of 2022-12-31, the top 5 holdings are The GEO Group Inc (GEO), Black Knight Inc . , 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. 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. To file a complaint or dispute with this firm, please fill out the SEC Investor Complaint Form. Yes or Scion Asset Management a Portfolio Activity as reported in the most recent 13F form published on Dec 31, 2022. This means they effectively own 0.6% of the company. The companys operating income can be divided into three segments: US Secure Services, Electronic Monitoring and Supervision Services, Reentry Services, and International Services. Firm or an advisory affiliate has previously been fined or ordered to cease and desist activity by the SEC or CFTC. 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. Firm or an advisory affiliate has previously had their authorization to act as an attorney, accountant, or federal contractor revoked or suspended. 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. Will anyone that was involved be involved with my accounts in any capacity? 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. 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. Form 13F-HR - Quarterly report filed by institutional managers, Holdings: SEC Accession No. Firm performs side-by-side management with accounts that have differing fee structures. Some firms receive these fees as payments, which creates an incentive to promote them. Scion Asset Management 13F annual report. Nothing on this website constitutes, or is meant to constitute, advice of any kind. 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. Burry may have missed out on a big windfall by selling his stock, but he also avoided a dramatic decline. 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. This typically occurs when firms manage mutual funds or hedge funds alongside smaller retail accounts. In response, Alibaba has been repurchasing stock in bulk. All rights reserved. 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). And we will have another inflation spike. There are currently 6 companies in Mr. Burrys portfolio. It would appear that Burry is betting that China will rebound. He has said, "Fresh, clean water cannot be taken for granted. 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.