Firm or a related person recommends the purchase of securities where the firm or a related person serves as an underwriter or general or managing partner. He has said, "Fresh, clean water cannot be taken for granted. Form 13F is required to be filed within 45 days of the end of a calendar quarter. Does the firm offer products that have performance-based fees, or does it accept performance-based fees? Co-producer of The Street's financial channels: Apple Maven, Amazon Maven and Wall Street Memes. * Reported Price is the price of the security as of the portfolio date. By the end of 2004, he was managing $600 million and turning money away. Portfolio value: $46M+ Period: 2022 Q4. And we will have another inflation spike. Changes can be due to trades or changes in share prices. 0001567619-21-015632. Common Stock (US:US19247G1076) Furthermore, Burry has predicted a vicious cycle in which the Fed raises interest rates to a level not seen since the 2008 crisis. 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 . The Scion Asset Management manager revealed the purchase of seven new stocks in the last quarter. The average market cap of the portfolio companies is close to $2.02 billion. In this episode, we hear how she became a sponge for product design, figured out how to make accessible yet high-end jewelry, and how she even relocated to China for the better part of a year to personally see to her brand's manufacturing. The S&P 500, widely regarded as the benchmark for the US market, returned just under 3%, including dividends over the same period. To allow for equitable access to all users, SEC reserves the right to limit requests originating from undeclared automated tools. 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. Questions to ask 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. Not only did he make a personal profit of $100 million, but his remaining investors earned more than $700 million. Scion Asset Management a Portfolio Activity as reported in the most recent 13F form published on Dec 31, 2022. 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. Firm or related person receives soft-dollar benefits in connection with client securities transactions. Growth has also been smooth for the company due to the recurring nature of its business model. Steven Cohen's: Point72 Asset Management. 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. He also urged investors to liquidate their stocks. Firm actively engages as insurance brokers or agents, or they are affiliated with an insurance company or agency. Stock Company Name % of Portfolio Shares Owned Value Change in Shares Ownership History . 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. 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. Scion Asset Management has become increasingly popular due to Dr. Burrys ability to identify undervalued investment opportunities around the world. What conflicts do I need to be made aware of? 1,", "A Primer on Scion Capitals Subprime Mortgage Short", "Scion Asset Management - Quarterly Holdings Reports", https://en.wikipedia.org/w/index.php?title=Michael_Burry&oldid=1136913298, University of California, Los Angeles alumni, Vanderbilt University School of Medicine alumni, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 1 February 2023, at 20:47. '[26] In May 2021, it was reported that he held puts on over 800,000 shares of Tesla. Performance. 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. The Scion Asset Management office and employees reside in Saratoga, California. 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. 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. For further detail, see our articles on different types of advisors and financial advisor services. The SEC or CFTC has found firm or an advisory affiliate to have been involved in a violation of its rules. "[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. Black Knight Inc (US:BKI) What percentage of income does your firm receive from fees versus commissions? MGM Resorts International (US:MGM) Data is sourced from 13D/13G, 13F, and N-Q filings. The Software Solutions segment provides software and hosting solutions comprising MSP, a SaaS application platform for mortgages, home equity loans, and lines of credit. "[6] Burry was able to achieve these returns partly by shorting overvalued tech stocks at the peak of the internet bubble. Fintel is a registered trademark. 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. 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. Wolverine World Wide, Inc. (US:WWW) Ranked #44 out of 483 Hedge Fund Managers. Scion Asset Management, registered in 2018, serves 2 state (s) with a licensed staff of 4 advisors. [9] His son was diagnosed with Asperger syndrome, and Burry believes he himself has Asperger syndrome after reading about the disorder. Advertiser Disclosure: StockBrokers.com helps investors across the globe by spending over 1,000 hours each year testing and researching online brokers. WRITE REVIEW. After attending medical school, Dr. Burry left to start his own hedge fund in 2000. assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents. A quarter of the portfolio is made up of consumer discretionary companies. Relative to the previous quarter there was a little reshuffling of his holdings. Alibaba Group Holding Limited ADR (US:BABA) 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 has been on a buying spree lately. , The collapse of the real estate market in 2008 was a key event leading to the global financial crisis. Bruce Berkowitz's: Fairholme Capital Management. As a consumer advocacy project, investor.com does not charge any licensing fees for earned state accolade badges. Currently, their heaviest sector is Real Estate making up 53.2% of Company metrics from any one time period can be misleading based on the underlying state of the economy and macros that may benefit or harm the company at a given point in time. [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 LLC Institutional Portfolio | Nasdaq. The Scion Asset Management manager revealed the purchase of seven new stocks in the last quarter. The fund only has four clients. 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. SCION ASSET MANAGEMENT, LLC. 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). 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. His solemn investing philosophy has resulted in outsized market returns over the past few years, beating the S&P 500 by a wide margin. The fund's top five holdings, which we analyze below, account for 72.2% of its total public . Justice Brett Kavanaugh suggested it was problematic that Biden took executive action even though Congress has not passed legislation related to student debt. According to the last 13-F report filed with the SEC, Michael Burry serves as the Chief Executive Officer at Scion Asset Management. It is now the funds third-largest holding, accounting for 12.8% of its holdings. Dr. Burry Furthermore, our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data. Note: We do not offer technical support for developing or debugging scripted downloading processes. Burry's bearish thesis is that the American economy will go into recession in 2023 regardless of how we define the term. What does this mean and why is it important? FINRA data last verified February 17, 2023. Alibaba is down 71% from its October 2020 peak. See the Top Performing Hedge-Funds > Michael Burry . Steven Romick - FPA Crescent Fund Updated 12 Jan 2023. Bailing generations out of those bad choices will mean more bad choices, tuition hikes, and terrible consequences for America, he added. 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." JD.com, Inc. (US:JD) Michael Burry's hedge fund Scion Asset Management is based in Saratoga, California and manages capital for 5 clients. Terms of Use | Disclaimers | Privacy Policy. Why has Burry, who is bearish on the . SCION ASSET MANAGEMENT, LLC is a financial services company based out of 20400 STEVENS CREEK BOULEVARD, CUPERTINO, California, United States. SkyWest, Inc. (US:SKYW) What does this mean? ", "Why Is Michael Burry Investing In Water? Heejin Kim and Myungshin Cho (29 August 2019). 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. 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. Firm or an advisory affiliate has previously had an investment-related civil action dismissed against them following a cash settlement in court. Based in Saratoga, Calif., Scion has just six employees, two of whom . Keep reading this article to learn more about Scion Asset Management. [18][16], In 2013, Burry reopened his hedge fund, this time called Scion Asset Management, filing reports as an exempt reporting adviser (ERA) active in the state of California and approved by the SEC. According to author Michael Lewis, "in his first full year, 2001, the S&P 500 fell 11.88%. A domestic or foreign court has previously found firm or an advisory affiliate was involved in a violation of investment-related statutes or regulations. As of 09/30/2022, below is a summary of the Scion Asset Management LLC top holdings by largest position size, as . A Self-Regulatory Organization has previously found the firm or an advisory affiliate responsible for having an investment-related business have its authorization to do business denied, suspended, or revoked. 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. There are 3 companies that go by the name of Scion Asset Management, LLC. Michael Burry's Scion Asset Management jettisoned 11 US equities in the second quarter and ended the period with just one. Eventually, Burry's analysis proved correct: He made a personal profit of $100 million and a profit for his remaining investors of more than $700 million. Firm or a related person trades securities for themselves that they also recommend to their clients. Please provide me a list of the products and a summary of how much your firm earns from them. The fund focuses on investments in the United States as documented the history and events leading up to his contrarian but hugely successful bet against the real estate market What does this mean? Our Methodology. Questions to ask Researcher and operations manager at DM Martins Research. We have concerns regarding capital management at . What does this mean? Why Didn't the Fed? For more information, please see the SECs Web Site Privacy and Security Policy. 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). 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. Strategies arent specified: There isnt a lot of specificity provided . Link to 13F filings: SEC filings. The impact to a portfolio due to this purchase was 0.65%. Designer and entrepreneur Melody Ehsani takes us on a journey from her early days working retail, to designing her first shoes and jewelry lines, to collaborating with Red Hot Chili Peppers and Jordan brand before taking on a bespoke role at Foot Locker. While partners may pay to provide offers or be featured, e.g. Scion Asset Management manages $291.7 million and provides investment advisory services for 4 clients (1 advisor/client ratio). document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Thanks for contacting us. This form was filed on 2023-02-14 for the reporting period 2022-12-31. It is now the funds fifth-largest holding, accounting for 10.0% of its holdings. What does this mean and why is it important? What does this mean? Scion Asset Management, LLC has disclosed 9 total holdings in their latest SEC filings. The companys operating income can be divided into three segments: US Secure Services, Electronic Monitoring and Supervision Services, Reentry Services, and International Services.

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