scion asset management
Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, This Week in Crypto: Ukraine War, Marathon Digital, FTX. Questions to ask Published on February 27th, 2023 by Nikolaos Sismanis. Relative to the number of outstanding shares of Geo, Scion Asset Management owns more than approximately 0.1% of the company. $48.3 Million Total portoflio value. 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. Louis Bacon's: Moore Capital Management. Scion Asset Management Urges GameStop to Buy Back $238 Million of Stock 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 means they effectively own 0.6% of the company. Others say the plan is too costly and burdensome on taxpayers. The largest investments include Geo and Qurate Retail Inc, together worth $25.6 million. There are currently 6 companies in Mr. Burry's portfolio. In January, Burry made predictions for an economic downturn in 2023. Profitability has also been weak. The companys operating income can be divided into three segments: US Secure Services, Electronic Monitoring and Supervision Services, Reentry Services, and International Services. The SEC or CFTC has found firm or an advisory affiliate to have been involved in a violation of its rules. With respect to such information, investor.com cannot and does not independently verify, audit, validate, assess or guarantee the adequacy, accuracy, or completeness of such information; such information is not included or otherwise incorporated within investor.com's Trust Score algorithm or review process. Burry is betting big on the discretionary and industrial sectors, which generally benefit from economic growth. 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. [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]. 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. 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. While Scion Asset Management advises clients across a variety of portfolio sizes, the average client balance is currently $72.9 million. How does your firm mitigate conflicts that arise from managing accounts with differing fee structures? He has said, "Fresh, clean water cannot be taken for granted. As a result, the company will soon be able to self-fund its growth and overall operations. 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 . Why Didn't the Fed? Dear Members of the Board, Scion Asset Management, LLC and its affiliates ("Scion") own approximately 2,000,000 shares, or about 2.21%, of GameStop, Inc. ("GameStop") common stock. Dr. Michael Burry's Scion Asset Management disclosed holdings on Feb. 15 for the first time in over two years. Heejin Kim and Myungshin Cho (29 August 2019). [28] In October 2021, after a 100% rise in Tesla's stock value, he revealed he was no longer shorting it. Scion Asset Management - Michael Burry assets under management (13F Holdings listing stock ownership and transaction history) provided by Insider Monkey. A self-regulatory organization or commodities exchange has found firm or an advisory affiliate to have been involved in a violation of its rules. We've received your submission. The GEO Group Inc (US:GEO) Wolverine World Wide is a new holding for Scion Asset Management, initiated in its most recent quarterly filings. 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. Cassandra B.C. (@michaeljburry) / Twitter Firm or an affiliate actively engages in business as a law firm or lawyer. Not only did he make a personal profit of $100 million, but his remaining investors earned more than $700 million. Any data inaccuracies, please contact our team. SCION ASSET MANAGEMENT, LLC. Please declare your traffic by updating your user agent to include company specific information. Furthermore, Burry has predicted a vicious cycle in which the Fed raises interest rates to a level not seen since the 2008 crisis. 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. Scion Asset Management manages $291.7 million and provides investment advisory services for 4 clients (1 advisor/client ratio). 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. 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. [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 Scion Asset Management manager revealed the purchase of seven new stocks in the last quarter. 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. All requests for updated information should also be reported directly to the SEC and/or FINRA. What does this mean? Our system found no disciplinary alerts. This page shows a list of all the recent 13F filings made by Scion Asset Management, LLC. At the age of two he lost his left eye to retinoblastoma[3] and has had a prosthetic eye ever since. Qurate Retail Inc makes up Maintenance Technician Job in Minneota, MN at The Scion Group Fintel is a registered trademark. His solemn investing philosophy has resulted in outsized market returns over the past few years, beating the S&P 500 by a wide margin. Particularly, in 2005, Dr. Burry started to concentrate on the subprime market. By using this site, you are agreeing to security monitoring and auditing. 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. I was damned sure I was going to pay it off. [21] In August 2019, Bloomberg News quoted an email from Burry where he said there was a bubble in large US company stocks due to the popularity of passive investing, which "has orphaned smaller value-type securities globally". SCION ASSET MANAGEMENT, LLC: CHIEF EXECUTIVE OFFICER: direct: 2013-03-01: CLARKE BENNITT MANAGEMENT, LP: PRINCIPLE OWNER: indirect: 2005-02-01: 2006-01-20: BURRY, ANH-THI: TRUSTEE THE BURRY 2003 REVOCABLE TRUST: 05/01/2003: Indirect Other: Fund Name Position direct/indirect start date end date; SCION ASSET MANAGEMENT, LLC: [] And we will have another inflation spike. In Michael Burry's current portfolio as of 2022-12-31, the top 5 holdings are The GEO Group Inc (GEO), Black Knight Inc . Grapevine, TX 76051. A quarter of the portfolio is made up of consumer discretionary companies. Visit Site, Is this your firm? Is your firm a broker-dealer or are you affiliated with one? 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. The Scion Asset Management office and employees reside in Saratoga, California. Guinea Sets Two-Week Deadline for Alumina Plants Projects, RAF Jets Escort Plane in Distress to Stansted Airport, British Parents Turn to Home Equity to Help Young Buy Property, Japanese Unions Seek Biggest Pay Rise in 25 Years for Workers, Sorry, Fed, Most US Mortgage Rates Were Locked In During Pandemic Lows, Rivian Tells Staff EV Output May Be 24% More Than Forecast, VW Will Build a $2 Billion Electric Truck and SUV Plant in South Carolina, Meta Cuts the Price of Its Quest Headset Up to 33% After Disappointing Demand, John Malone andCharter Directors Agree to $87.5 Million Settlement, Apples Cloud Chief to Leave, Adding to Wave of Departures, Congo President Tells Macron Conflict in East May Delay Election, Anti-ESG Crusader Wants to Take Trumps Agenda to Next Level, Harrods Shrugs Off Recession Fears as Rich Get Richer, FT Says, Wealthy NYC Family Feuds Over $258 Million Madison Avenue Sale, Tom Sizemore, 'Saving Private Ryan' Actor, Dies at 61, The Exhibit Reality TV Show PittingArtist Against ArtistIs No Masterpiece. 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. Some detractors have suggested that a cancellation of student debt would further fuel inflation that hit its highest level in decades last year. Apply for Trusted badge. To file a complaint or dispute with this firm, please fill out the SEC Investor Complaint Form. The investment fund's only holding now is The . 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). Michael Burry | Scion Asset Management Profile - TipRanks.com . What does this mean? Based in Saratoga, Calif., Scion has just six employees, two of whom . He founded the hedge fund Scion Capital, which he ran from 2000 until 2008 before closing it to focus on his personal investments. 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 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 . Keep reading this article to learn more about Scion Asset Management. 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. They contribute around 66%, 13%, 11 and 9% of total revenues, respectively. Salesforce CEO Marc Benioff sounds the alarm on recession - with shades Our searchable database of U.S.-based financial advisors includes more than 17,000 firms across the country. Dr. Burry trimmed Scions position in The GEO Group by 47%, with the fund now owning around 0.85% of the companys outstanding shares. 1001 and 1030). 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. Scion Asset Management, LLC (Filer) CIK: 0001649339 (see all company filings) IRS No. More than 90% of the beds are located in the US. While this allows for a broader range of investment options and management styles to be offered by a firm, it can create an incentive for the firm to put their financial interests ahead of your own. . What does this mean and why is it important? The funds top five holdings, which we analyze below, account for 72.2% of its total public equity exposure. Monte Huber is responsible for leading Scion's financial planning, reporting and risk management. He had already built a reputation as an investor at the time by exhibiting success in value investing. What does this mean and why is it important? Last year was a turbulent one for China, marked by strict lockdowns and geopolitical and regulatory turmoil. . 0001567619-21-015632. Description. 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. The company is currently facing heavy challenges, including all major banks cutting ties with private prisons and President. 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. documented the history and events leading up to his contrarian but hugely successful bet against the real estate market JD.com, Inc. (US:JD) What does this mean and why is it important? Burry followed up his warning by detailing his own experience with student debt. Why has Burry, who is bearish on the . What happened? Michael Burry (Scion Asset Management, LLC) Performance - Stockcircle 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 . How do these benefits affect the firms selection of a broker-dealer partner? compensation-related conflicts of interest, Types of Financial Advisors and How to Choose, What's a Fiduciary (and Why It Matters So Much). Relative to the previous quarter there was a little reshuffling of his holdings. Here's how we make money. The fund focuses on investments in the United States as According to the last 13-F report filed with the SEC, Michael Burry serves as the Chief Executive Officer at Scion Asset Management. There are currently 6 companies in Mr. Burrys portfolio. Black Knight is a new holding for Scion Asset Management, initiated in its most recent quarterly filings. Thus, be mindful and conduct your own research before allocating your hard-earned money to any of these names. [4] As a teenager, he attended Santa Teresa High School. Co-producer of The Street's financial channels: Apple Maven, Amazon Maven and Wall Street Memes. 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. Burry was born and grew up in San Jose, California. Investor.com relies on regulatory data from the SEC to rate and review financial advisor firms. GameStop Corp. 625 Westport Parkway. Quickly find out what the most recently closed or increased positions are. Dr. Michael Burry Long Gamestop: Sends Letter to Board 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. [9] While off duty at night, he worked on his hobby: financial investing. PDF Form Adv - Sec 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. EDGAR Filing Documents for 0001567619-21-015632 - SEC SCION ASSET MANAGEMENT, LLC | 2,358 followers on LinkedIn. 2015-2023 Fintel Ventures LLC. Founded in 2003, Scion Asset Management, LLC is a private investment firm led by investing guru Dr. Michael J. Burry. This value is significant in that it is the last known price at which the security was still held. 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? Top 10 Stocks Held By Scion Asset Management LLC Saratoga, CA 95070. The portfolio numbers only nine equities, with The GEO Group accounting for 20.4% of its holdings. For further detail, see our articles on different types of advisors and financial advisor services. Scion's required disclosure did not include any "short" position it held in the third quarter, nor does it show . Our Methodology. After attending medical school, Dr. Burry left to start his own hedge fund in 2000. He also urged investors to liquidate their stocks. What does this mean? Most recent portfolio value is calculated to be $ 46,536,925 USD. What does this mean and why is it important? SCION ASSET MANAGEMENT LLC Institutional Portfolio | Nasdaq. and Geo dropped approximately 0.1% in the past year. Saratoga, CA 95070, 30 Burton Hills Blvd Suite 315, Nashville, Tennessee 37215. Questions to ask Actual Assets Under Management (AUM) is this value plus cash (which is not disclosed). He only looks for their undervalued elements, regardless of their sector and class. Sensitive information sent over an HTTP connection can easily be eavesdropped on by third-parties. While Scion Asset Managements portfolio lacks diversification, its holdings come with characteristics that reflect Dr. Burrys principles. When I left residency at Stanford to gamble my future on what was to become, I had well into six figures of educational debt. Will anyone that was involved be involved with my accounts in any capacity? 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. In his words: All my stock picking is 100% based on the concept of a margin of safety.. 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. Performance. By Steve Burns. tips_and_updates Financial Advisor Education. Wolverine World Wide, Inc. (US:WWW) A regulatory agency has previously denied, suspended, or revoked the firms or an advisory affiliates registration or license or otherwise restricted their activities. Maintain the physical condition of the property according to The Scion Group's Standard Operating Procedures, OSHA and Industry standards. It is now the funds fifth-largest holding, accounting for 10.0% of its holdings. It's not hard.". Several times last year, Burry predicted a stock market crash by betting that inflation would not give way. , [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. , 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? 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. Questions to ask Thank you for your interest in the U.S. Securities and Exchange Commission. Warren Buffett's: Berkshire Hathaway. Finally, the Loss Mitigation segment develops solutions that support retention and liquidation workouts. Michael Burry reveals new stock bets after previously dumping entire Top 50 Scion Asset Management Holdings . Scion Asset Management. Alibaba Group Holding Limited ADR (US:BABA) Does your firm, or anyone associated with the firm, practice as a law firm? But critics have aired various concerns about Bidens plan, such as whether his executive order oversteps the presidents authority. 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. As a consumer advocacy project, investor.com does not charge any licensing fees for earned state accolade badges. 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. On the other hand, small-cap stocks make up only approximately 0.1% of the portfolio. The portfolio numbers only nine equities, with The GEO Group accounting for 20.4% of its holdings. 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. In the most recent 13F filing, Scion Asset Management revealed that it had opened a new position in Filing Date. Lets not forget that the student debt problem is built on a foundation of terrible major choices, Burry, 51, tweeted on Tuesday. Bruce Berkowitz's: Fairholme Capital Management. Upgrade to unlock premium data and export to Excel . What does this mean and why is this important? Hedge Fund Manager. 'Big Short' Michael Burry Invested Twice in Bed Bath & Beyond Stock Scion Asset Management, LLC Holdings. 1,517,790 additional shares. are based in the United States. Since Jun 2013. Northport Investment Management, Albatross Investment Services, Lynn H. ORR Capital Management Group, Level Partners Management, Allvestments, Was this helpful? 1-Year Performance. SCION ASSET MANAGEMENT, LLC | LinkedIn Firms that earn a 4.5 or 5 star rating are also eligible to receive the "Trusted by investor.com" badge. The firm's asset exposure includes equities, derivatives, and fixed income instruments. 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. Scion Asset Management, registered in 2018, serves 2 state(s) with a licensed staff of 4 advisors. The two most similar investment funds to Scion Asset Management are Centurylink Investment Management Co and Secrest Blakey & Associates. 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. Will His AI Plans Be Any Different? Founded in 2018 as an unbiased resource empowering consumers to research and compare financial advisory firms, investor.com today gives consumers the tools to make smart money decisions about credit, retirement planning, and more. , 'Big Short' Michael Burry Reveals Options Bet Against Elon Musk, Tesla Questions to ask While partners may pay to provide offers or be featured, e.g. 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 misdemeanor involving: investments or an investment-related business, or any fraud, false statements, or omissions, wrongful taking of property, bribery, perjury, forgery, counterfeiting, extortion, or a conspiracy to commit any of these offenses. What conflicts arise from this relationship? "Here's the story of one of the heroes of 'The Big Short', "The True Story Behind The Big Short - Real Michael Burry", The Greatest Trade Ever: The Behind-the-Scenes Story of How John Paulson Defied Wall Street and Made Financial History, "Mercury News Interview: Hedge fund manager saw subprime meltdown coming", "These Doctors Mean Business," Whitney, Kathy, Medicine (Vanderbilt School of Medicine), Summer 2014, "Learning From Dr. Michael Burry's Investment Philosophy", "Michael Burry Profiled: Bloomberg Risk Takers", "I Saw the Crisis Coming. These positions were updated on November 14th based on the funds latest 13F filing. 18951. David Einhorn's: Greenlight Capital. [30], Burry is married, with children, and was living in Saratoga, California in 2010. Qurate Retail Inc and bought 5,000,000 shares worth $10.1 million. Currently, their heaviest sector is Real Estate making up 53.2% of About Us - The Scion Group The firm's website is not secure by modern internet standards. Questions to ask Questions to ask Limited offerings: Scion Asset Management isnt an advisory firm as much as it is an asset management company. This Supreme Court Case Could Redefine Crime, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, No Major Offer Expected on Childcare in UK Budget, Biden Gives Medal of Honor to Trailblazing Special Forces Member, Oils $128 Billion Handout as Doubts Grow About Fossil Fuels, Climate Change Is Launching a MutantSeed Space Race, This Former Factory Is Now New Taipeis Edgiest Project, What Do You Want to See in a Covid Memorial? What does this mean and why is it important? Here you can find the latest trades based on Burry's 13F filings and insider trades. See the articles below for analysis on other major investment firms/asset managers/gurus: If you are interested in finding more high-quality dividend growth stocks suitable for long-term investment, the following Sure Dividend databases will be useful: The major domestic stock market indices are another solid resource for finding investment ideas.