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. decreased its share price by approximately 0.1%, Geo total 2,019,150 shares worth $15.5 million. Louis Bacon's: Moore Capital Management. Firm performs side-by-side management with accounts that have differing fee structures. What does this mean? How does your firm mitigate conflicts that arise from managing accounts with differing fee structures? The GEO Group Inc (US:GEO) Limited offerings: Scion Asset Management isnt an advisory firm as much as it is an asset management company. financing, asset management, . Upgrade to unlock premium data and export to Excel . He had already built a reputation as an investor at the time by exhibiting success in value investing. As a result, the company will soon be able to self-fund its growth and overall operations. What percentage of income does your firm receive from fees versus commissions? [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. Dr. Burry trimmed Scions position in The GEO Group by 47%, with the fund now owning around 0.85% of the companys outstanding shares. The Software Solutions segment provides software and hosting solutions comprising MSP, a SaaS application platform for mortgages, home equity loans, and lines of credit. The investor's firm, Scion Asset Management, held bearish put options on over 800,000 shares of Elon Musk's . Founded in 2013, Scion Asset Management is a multi-strategy hedge fund manager based in Saratoga, California. 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). Firm or an advisory affiliate has previously had an investment-related civil action dismissed against them following a cash settlement in court. Coherent Corp. produces and manufactures, and sells engineered materials, optoelectronic components, and devices internationally. And it is notwater is political, and litigious. 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. Firm or a related person trades securities for themselves that they also recommend to their clients. [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. By using this site, you are agreeing to security monitoring and auditing. $48.3 Million Total portoflio value. What does this mean? These companies are located in Dover DE, Madison WI, and Saratoga CA. exclusive offers, they cannot pay to alter our recommendations, advice, ratings, or any other content throughout the site. 100.0% 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. Specifically, the company repurchased nearly $9.7 billion worth of stock last year. SCION ASSET MANAGEMENT, LLC is a financial services company based out of 20400 STEVENS CREEK BOULEVARD, CUPERTINO, California, United States. Michael Burry of Scion Asset Management. Furthermore, our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data. Fintel is a registered trademark. Since 1999, Scion Advisory Services has been the sector's most trusted adviser, collaborating with clients on over 250 campuses and counting. With headquarters in New York and offices in London and Guernsey, Sciens has been investing in real assets strategies since 2007. For example, front-running is when a financial professional buys or sell securities ahead of their client. 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 . Specifically, his picks were published on message boards on the stock discussion site Silicon Investor back in 1996, with their returns being outstanding! 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. There are 3 companies that go by the name of Scion Asset Management, LLC. The investment fund also strengthened its position in Geo by buying Why has Burry, who is bearish on the . Rather, he pays attention to off-balance sheet metrics and naturaly, free cash flow. Michael Burry's hedge fund Scion Asset Management is based in Saratoga, California and manages capital for 5 clients. As of 7th November 2022, Scion Asset Managements top holding is 2,019,150 shares of Geo currently worth over $15.5 million and making up 37.6% of the portfolio value. The Scion Asset Management office and employees reside in Saratoga, California. 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 has become increasingly popular due to Dr. Burrys ability to identify undervalued investment opportunities around the world. What does this mean and why is this important? Most recent portfolio value is calculated to be $ 46,536,925 USD. Chase Coleman's: Tiger Global Management. Does your firm, or anyone associated with the firm, practice as a law firm? "[6] Burry was able to achieve these returns partly by shorting overvalued tech stocks at the peak of the internet bubble. Published on February 27th, 2023 by Nikolaos Sismanis. Firm or an advisory affiliate was previously found to have made false statements or omissions by a self-regulatory organization. Co-producer of The Street's financial channels: Apple Maven, Amazon Maven and Wall Street Memes. [5][6][7], He studied economics and pre-med at the University of California, Los Angeles, earned an MD degree from the Vanderbilt University School of Medicine,[6] and started but did not finish his residency[8] in pathology at Stanford University Medical Center. Five years later in 2013 Michael Burry reopened his fund with slightly changed name Scion Asset Management. Nothing on this website constitutes, or is meant to constitute, advice of any kind. 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. [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. 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. In addition, the fund holds 5,000,000 shares of . , [28] In October 2021, after a 100% rise in Tesla's stock value, he revealed he was no longer shorting it. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Thanks for contacting us. 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 . "[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. I was damned sure I was going to pay it off. Firm actively engages as insurance brokers or agents, or they are affiliated with an insurance company or agency. $41.4 million and $41.2 million respectively. in 2008. Operating as an online business, this site may be compensated through third party advertisers. Black Knight is a new holding for Scion Asset Management, initiated in its most recent quarterly filings. Burry has amassed more than 1.4 million followers on Twitter, where he frequently tweets and then deletes his predictions about the US economy. Each month, investor.com helps thousands of Americans answer the question, "Can I trust you?". The portfolio is made up of a total of 102 facilities, including 82,000 beds. '[26] In May 2021, it was reported that he held puts on over 800,000 shares of Tesla. 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. Growth has also been smooth for the company due to the recurring nature of its business model. What does this mean? 66.7% of the portfolio companies Scion Asset Management, LLC Holdings. The author may be long one or more stocks mentioned in this report. The company is currently facing heavy challenges, including all major banks cutting ties with private prisons and President. According to author Michael Lewis, "in his first full year, 2001, the S&P 500 fell 11.88%. He has said, "Fresh, clean water cannot be taken for granted. FINRA data last verified February 17, 2023. 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. This page was last edited on 1 February 2023, at 20:47 (UTC). "[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. 0001567619-21-010281.txt. Burry, whose successful bet against subprime mortgages were famously chronicled in the 2015 film The Big Short, delivered the dire forecast as the Supreme Court hears arguments this week on whether President Biden has the authority to cancel student debt. 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. The portfolio numbers only nine equities, with The GEO Group accounting for 20.4% of its holdings. Additionally, the company has been utilizing loopholes through third parties, which essentially still allows it to deal with federal agencies. Also, the article may contain affiliate links. 2023 Reink Media Group LLC. As a result, unlike hedge funds, there is no historical performance for any financial advisory firm. 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. Charlie Munger - Daily Journal Corp. [32], Burry was highly critical of the lockdowns during the COVID-19 pandemic in the United States.[33]. the total portfolio value. Burry, who is primarily known for his "Big Short" position, has made predictions about 2023, and these may be well expressed in short positions. Questions to ask
Scion Asset Management, LLC's new positions include His solemn investing philosophy has resulted in outsized market returns over the past few years, beating the S&P 500 by a wide margin. Michael Burry is likely betting on the stocks valuation levels normalizing as we advance, which sounds like a reasonable investment case given Alibabas excellent financials. The collapse of the real estate market in 2008 was a key event leading to the global financial crisis. Firm is a broker-dealer, or is affiliated with one, and may be subject to compensation-related conflicts of interest. By Steve Burns. What does this mean and why is it important? The total portfolio value may be much higher due to cash It is now the funds fourth-largest holding, accounting for 10.7% of its holdings. 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Some detractors have suggested that a cancellation of student debt would further fuel inflation that hit its highest level in decades last year. We have concerns regarding capital management at . Qurate Retail Inc and bought 5,000,000 shares worth $10.1 million. The firm owned 95,150 shares of the company's stock after purchasing an additional 57,650 shares during the period. 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. Currently, their heaviest sector is Real Estate making up 53.2% of The firm doesn't work with individual investors, although individuals may invest in the funds for which it provides investment advisory services. The S&P 500, widely regarded as the benchmark for the US market, returned just under 3%, including dividends over the same period. The Company serves clients in the United States. A self-regulatory organization or commodities exchange has found firm or an advisory affiliate to have been involved in a violation of its rules. Our system found no disciplinary alerts. Alibaba Group Holding Limited ADR (US:BABA) , What does this mean? Please declare your traffic by updating your user agent to include company specific information. To file a complaint or dispute with this firm, please fill out the SEC Investor Complaint Form. Scion Asset Management's public equity portfolio is heavily concentrated. SEC Form 13F Filing History. This value is significant in that it is the last known price at which the security was still held. Michael Burry is an American investor, and hedge fund manager. 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. 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. While Scion Asset Managements portfolio lacks diversification, its holdings come with characteristics that reflect Dr. Burrys principles. We use the change in the portfolio allocation because this is the most meaningful metric. Stocks with a size of more than $10 billion in market cap make up Investor.com relies on regulatory data from the SEC to rate and review financial advisor firms. What conflicts arise from this relationship? That would put the U.S. in a recession under "any definition.". Portfolio value: $46M+ Period: 2022 Q4. Demand for the companys products has remained robust lately, but inflationary pressures on the expenses side of the income statement have suppressed profitability severely. Bruce Berkowitz's: Fairholme Capital Management. How many times did it occur? Shares of Chinese e-commerce behemoth Alibaba have remained under pressure despite the company generating rather robust revenues given the ongoing trading environment. BBBY has plummeted by more than 95% from its 2021 peak to below $2 a share today . 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. Dr. Michael Burry's Scion Asset Management disclosed holdings on Feb. 15 for the first time in over two years. Steven Cohen's: Point72 Asset Management. Investor.com is your trustworthy guide to the world of personal finance. The president and supporters of his plan argue student loan debt forgiveness will provide much-needed relief to million debt-saddled Americans. Scion Asset Management, registered in 2018, serves 2 state (s) with a licensed staff of 4 advisors. Visit Site, Is this your firm? Private prison giants The GEO Group accounts for 20.4% of Scion Assets management public equity holdings. Sensitive information sent over an HTTP connection can easily be eavesdropped on by third-parties. To allow for equitable access to all users, SEC reserves the right to limit requests originating from undeclared automated tools. The bottom line has softened lately as a result of inflationary pressures and supply chain inefficiencies, but profits are still substantial. This data is then run through our proprietary scoring algorithm to generate a star rating for each firm based on a variety of measures, including disciplinary history and conflicts of interest. In January, Burry made predictions for an economic downturn in 2023. 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. Neither the SEC nor FINRA tracks portfolio performance metrics for the financial planning industry. 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. Alibaba is a new holding for Scion Asset Management, initiated in its most recent quarterly filings. All Scion Asset Management, LLC holdings are listed in the following tables. Sure Dividend compiles the following stock market databases and updates them monthly: Thanks for reading this article. Warren Buffett's: Berkshire Hathaway. 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. : 000000000 | State of Incorp. These partnerships do not influence editorial content. 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. 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. There are currently 6 companies in Mr. Burrys portfolio. Furthermore, Burry has predicted a vicious cycle in which the Fed raises interest rates to a level not seen since the 2008 crisis. tips_and_updates Financial Advisor Education. Average metrics of all companies in portfolio . It would appear that Burry is betting that China will rebound. 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. What does this mean and why is it important? Michael Burry does see a recession coming, but that hasn't stopped himrather his hedge fund Scion Asset Managementfrom stocking up on some positions likely to be hit hard by a downturn. Firms having met these requirements may further elect to participate in the investor.com Certification program for an annual fee paid to investor.com. A quarter of the portfolio is made up of consumer discretionary companies. Why Didn't the Fed? Firm's/Financial Professional's investor.com profile pages may contain certain limited information directly provided to investor.com by the Firm/Financial Professional including, by way of example only, the Personal Bio, Certifications, and/or Investment Philosophy portions of the profile page. Top 50 Scion Asset Management Holdings . He looks for investments in undervalued companies with strong long-term prospects. "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. Stock Company Name % of Portfolio Shares Owned Value Change in Shares Ownership History This makes their stake in Geo total 2,019,150 shares worth $15.5 million. Thank you for your interest in the U.S. Securities and Exchange Commission. Scion Asset Management manages $291.7 million and provides investment advisory services for 4 clients (1 advisor/client ratio). And we could be headed for another recession. Please provide me a list of the products and a summary of how much your firm earns from them. Last year was a turbulent one for China, marked by strict lockdowns and geopolitical and regulatory turmoil. Monte Huber is responsible for leading Scion's financial planning, reporting and risk management. [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. Dr. Michael Burry and his fund Scion Capital were made famous by the movie "The Big Short," which David Einhorn's: Greenlight Capital. What does this mean and why is it important? Is your firm affiliated with a law firm in any capacity? Why does your firm believe in offering commission-based services to clients? He only looks for their undervalued elements, regardless of their sector and class. On this Wikipedia the language links are at the top of the page across from the article title. 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. Whoopi Goldberg admits 'politics got in the way' of COVID- REBNY's new return-to-office gauge paints bright view for 'trophy' towers, Food delivery maven unveils NYC shop after dumping Mercedes mobile kitchens, US home prices just did something they haven't done since 2012, JPMorgan Chase requires some workers give 6 months notice before quitting, This Girl Scout cookie flavor is reselling for $100 online -- here's why, Rebel Wilson says Meghan Markle isnt as naturally warm as Prince Harry, Kristen Doute supports Ariana Madix amid mutual ex Tom Sandovals scandal, Celeb-loved jewelry brand Dorsey drops dazzling new styles, March 4, 1984: Martina Navratilova defeats Chris Evert at MSG, Tom Sandoval breaks silence on Ariana Madix split amid cheating claims, Canadian teacher with size-Z prosthetic breasts placed on paid leave. The fund's top five holdings, which we analyze below, account for 72.2% of its total public . Burry is betting big on the discretionary and industrial sectors, which generally benefit from economic growth. These sectors generally tend to benefit from periods of economic expansion, lower interest rates, low unemployment, and gross domestic product (GDP) growth. Greenhaven Associates Updated 10 Jan 2023. Bill Ackman's: Pershing Square Capital Management. Scion Asset Management General Information. 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." Questions to ask
Green rows indicate new positions. Firm is affiliated with an insurance company or agent who may be motivated to insure clients with products that generate high sales commissions when lower cost alternatives may exist. Scion Asset Management is a small firm focused on serving institutional investors, and pooled investment vehicles in particular. It is now the funds third-largest holding, accounting for 12.8% of its holdings. Qualified participating firms must abide by investor.com Certification program's terms and conditions when utilizing an awarded "Trusted by investor.com" badge, as well as in connection with permitted enhancements to the firm's investor.com profile page. For more information, please see the SECs Web Site Privacy and Security Policy. 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 best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. Financial plans and investment portfolios are always unique to the client's personal financial situation. Thus, be mindful and conduct your own research before allocating your hard-earned money to any of these names. 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. Perform physically demanding work to maintain the asset, and other property features to minimize liability concerns. 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.
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