The company has been growing rapidly over the past few years while retaining compelling profitability levels. All Scion Asset Management, LLC holdings are listed in the following tables. Red rows indicate closed positions. . What does this mean? Should I Hire a Financial Advisor or DIY It? [9] His son was diagnosed with Asperger syndrome, and Burry believes he himself has Asperger syndrome after reading about the disorder. How does your firm mitigate them? Relative to the number of outstanding shares of Geo, Scion Asset Management owns more than approximately 0.1% of the company. Some detractors have suggested that a cancellation of student debt would further fuel inflation that hit its highest level in decades last year. The fund only has four clients. Does your firm, or anyone associated with the firm, practice as a law firm? Unlike HTTPS connections, HTTP connections are not encrypted. The average market cap of the portfolio companies is close to $2.02 billion. While partners may pay to provide offers or be featured, e.g. Bidens orders, which directed the attorney general not to renew Justice Department contracts with privately operated criminal detention facilities. Apply for Trusted badge. Scion Asset Management 13F annual report. , Changes can be due to trades or changes in share prices. What does this mean? Saratoga, CA 95070, 30 Burton Hills Blvd Suite 315, Nashville, Tennessee 37215. 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 concept of Value Investing can sum up Michael Burrys whole investment philosophy. Actual Assets Under Management (AUM) is this value plus cash (which is not disclosed). documented the history and events leading up to his contrarian but hugely successful bet against the real estate market He had already built a reputation as an investor at the time by exhibiting success in value investing. Bailing generations out of those bad choices will mean more bad choices, tuition hikes, and terrible consequences for America, he added. Musk Made a Mess at Twitter. In response, Alibaba has been repurchasing stock in bulk. Scion Asset Management, LLC operates as an investment firm. We use the change in the portfolio allocation because this is the most meaningful metric. 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. 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. 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. So is Burry less bearish on the U.S. economy than he was last year? We've received your submission. What does this mean and why is it important? Firms that earn a 4.5 or 5 star rating are also eligible to receive the "Trusted by investor.com" badge. 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 13F filing with the SEC for the portfolio date of 2022-12-31. [9][31][6], He is a fan of heavy metal music, including bands such as Obituary, Lamb of God, Amon Amarth, Slipknot, King Diamond and Pantera. After medical school, Burry worked as a Stanford Hospital neurology resident, then a Stanford Hospital pathology resident. Questions to ask Michael Burry's hedge fund's other holdings consist of: In general, Michael Burry's investment philosophy is based on fundamental analysis. Scion Asset Managements portfolio is diversified across 5 sectors. What does this mean and why is it important? 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. 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. Questions to ask Each month, investor.com helps thousands of Americans answer the question, "Can I trust you?". The stock is now traded at around $14.430000. 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. Heejin Kim and Myungshin Cho (29 August 2019). A good way to understand Burry's thinking and Scion Asset Management's . Founded in 2013, Scion Asset Management is a multi-strategy hedge fund manager based in Saratoga, California. As InvestorPlace's Eddie Pan reported on Aug. 15, Burry's firm Scion Asset Management has sold all of its U.S.-listed positions except for one GEO. Relative to the number of outstanding shares of Geo, Scion Asset Management owns more than approximately 0.1% of the company. Black Knight is a new holding for Scion Asset Management, initiated in its most recent quarterly filings. 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. Questions to ask Charlie Munger - Daily Journal Corp. This conclusion led him to short the market by persuading Goldman Sachs and other investment firms to sell him credit default swaps against subprime deals he saw as vulnerable. 0001567619-21-015632. Disclaimer: It is our organization's primary mission to provide reviews, commentary, and analysis that are unbiased and objective. By visiting these sites, you are subject to their terms of use (IAPD, BrokerCheck). With headquarters in New York and offices in London and Guernsey, Sciens has been investing in real assets strategies since 2007. While this can be seen as "eating your own cooking," there are conflicts that may arise. What does this mean and why is it important? Particularly, in 2005, Dr. Burry started to concentrate on the subprime market. As a result, the company will soon be able to self-fund its growth and overall operations. It would appear that Burry is betting that China will rebound. 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. All rights reserved. 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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 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. According to author Michael Lewis, "in his first full year, 2001, the S&P 500 fell 11.88%. This video discusses the update to Michael Burry's portfolio (Scion Asset Management). He has said, "Fresh, clean water cannot be taken for granted. 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. subsequently closed the Scion Capital fund and has since launched his latest fund, Scion Asset Management. 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. 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. As a financial advisory firm, Scion Asset Management can provide a variety of financial planning services for Americans. Researcher and operations manager at DM Martins Research. [17] He subsequently liquidated his company to focus on his personal investments. Scion Asset Management manages $291.7 million and provides investment advisory services for 4 clients (1 advisor/client ratio). 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. In total, Scion Asset Management manages $291.7 million in assets. What does this mean and why is it important? 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. 2015-2023 Fintel Ventures LLC. Michael Burry shed light on his bet against Tesla in a regulatory filing on Monday. assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents. Why doesnt your firm use a secure website? financing, asset management, . Currently tracking portfolios of 77 superinvestors. Please provide me a list of the products and a summary of how much your firm earns from them. Performance. Saratoga, CA 95070. 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. Here's what investors need to know about Michael Burry's long positions. Does the firm offer products that have performance-based fees, or does it accept performance-based fees? 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. On the other hand, small-cap stocks make up only approximately 0.1% of the portfolio. Nothing on this website constitutes, or is meant to constitute, advice of any kind. "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. Hedge fund boss Michael Burry is warning of terrible consequences for the US if the Biden administrations student loan debt forgiveness plan is upheld. Our system has identified the following conflict alerts. 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Sure Dividend compiles the following stock market databases and updates them monthly: Thanks for reading this article. [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. The president and supporters of his plan argue student loan debt forgiveness will provide much-needed relief to million debt-saddled Americans. When performance-based fees are charged, the financial advisor is paid for outperforming a benchmark, typically an index. How does your firm mitigate conflicts that arise from managing accounts with differing fee structures? Average metrics of all companies in portfolio . Firm can legally elect to accept commissions for their investment advisory services. What does this mean and why is it important? 1-Year Performance. SEC Form 13F Filing History. T. Black Knight offers blended software, data, and analytics solutions all over the globe. Relative to the previous quarter there was a little reshuffling of his holdings. Burry was born and grew up in San Jose, 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. : DE | Fiscal Year End: 1231. What conflicts arise from this relationship? Questions to ask What does this mean? 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. 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. Specifically, The GEO Group has suspended its dividends, which has allowed the company to deleverage rapidly. Is your firm a broker-dealer or are you affiliated with one? 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. Dr. Burry trimmed Scions position in The GEO Group by 47%, with the fund now owning around 0.85% of the companys outstanding shares. Form 13F is required to be filed within 45 days of the end of a calendar quarter. [19] He has focused much of his attention on investing in water, gold, and farm land. Michael Burry of Scion Asset Management liquidated his entire investment portfolio in the second-quarter, according to the latest 13F holdings report. What does this mean? He is best known for being amongst the first investors to predict and profit from the subprime mortgage crisis that occurred between 2007 and 2010. 408-441-8400 Thanks for supporting the Wall Street Memes). 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. This typically occurs when firms manage mutual funds or hedge funds alongside smaller retail accounts. 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 . [13], In 2005, Burry started to focus on the subprime market. [] What happened? All rights reserved. Growth has also been smooth for the company due to the recurring nature of its business model. The investment fund also strengthened its position in Geo by buying 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". By Steve Burns. How do these benefits affect the firms selection of a broker-dealer partner? Click the link icon to see the full transaction history. <style> body { -ms-overflow-style: scrollbar; overflow-y: scroll; overscroll-behavior-y: none; } .errorContainer { background-color: #FFF; color: #0F1419; max-width . 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. 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 . Read through our introductory course to financial advisors. [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. However, Burry is also known to take an approach that often contradicts what the broad market dictates. Furthermore, Burry has predicted a vicious cycle in which the Fed raises interest rates to a level not seen since the 2008 crisis. Burry has amassed more than 1.4 million followers on Twitter, where he frequently tweets and then deletes his predictions about the US economy. As a result, we do not support personal reviews on the site. 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. [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. He also urged investors to liquidate their stocks. Here's what investors need to know about Michael Burry's long positions. Ultimately, Burrys analysis proved right. 66.7% of the portfolio companies 1,517,790 additional shares. It's not hard.". Demand for the companys products has remained robust lately, but inflationary pressures on the expenses side of the income statement have suppressed profitability severely. Scion was up 55%. The two most similar investment funds to Scion Asset Management are Centurylink Investment Management Co and Secrest Blakey & Associates. Firm is a broker-dealer, or is affiliated with one, and may be subject to compensation-related conflicts of interest. JD.com, Inc. (US:JD) How do we make money? Currently, their heaviest sector is Real Estate making up 53.2% of The portfolio numbers only nine equities, with The GEO Group accounting for 20.4% of its holdings. Form 13F-HR - Quarterly report filed by institutional managers, Holdings: SEC Accession No.