This video discusses the update to Michael Burry's portfolio (Scion Asset Management). While many fund managers and successful investors such as Cathie Wood are talking about their ideas several times a week in the news, Burry is more quiet. 12.25% 3-Year Performance. Please declare your traffic by updating your user agent to include company specific information. : 000000000 | State of Incorp. 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. Portfolio Gain +257.56%. Investor.com is your trustworthy guide to the world of personal finance. Nevertheless, most stocks in the fund seem to be bearing their fair share of risks. Based in Saratoga, Calif., Scion has just six employees, two of whom . , Each month, investor.com helps thousands of Americans answer the question, "Can I trust you?". The largest investments include Geo and Qurate Retail Inc, together worth $25.6 million. 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. Michael Burry's hedge fund Scion Asset Management is based in Saratoga, California and manages capital for 5 clients. The Scion Asset Management office and employees reside in Saratoga, California. 10/2021 4/18/2022 5:06:55 PM SCION ASSET MANAGEMENT, LLC SCION ASSET MANAGEMENT, LLC (2) If you are using this Form ADV to register more than one investment adviser under an umbrella registration , check this box . He then left to start his own hedge fund. 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. Greenhaven Associates Updated 10 Jan 2023. 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. As a result, the company will soon be able to self-fund its growth and overall operations. Apply for Trusted badge. Quickly find out what the most recently closed or increased positions are. Fintel is a registered trademark. Firm can legally elect to accept commissions for their investment advisory services. Scion Asset Management General Information. 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. 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. 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. Form 13F is required to be filed within 45 days of the end of a calendar quarter. Scion Asset Management. What does this mean and why is it important? Burry, who is primarily known for his "Big Short" position, has made predictions about 2023, and these may be well expressed in short positions. 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. What does this mean and why is this important? This website is provided as is without any representations or warranties, express or implied. There are currently 6 companies in Mr. Burrys portfolio. For example, front-running is when a financial professional buys or sell securities ahead of their client. The companys operating segments include Active Group, Work Group, and Lifestyle Group, which individually focus anywhere from casual footwear and apparel to industrial work boots and apparel. The next year, 2003, the stock market finally turned around and rose 28.69%, but Burry beat it again, with returns of 50%. The Board of Directors. Firms having met these requirements may further elect to participate in the investor.com Certification program for an annual fee paid to investor.com. The average market cap of the portfolio companies is close to $2.02 billion. Steven Cohen's: Point72 Asset Management. Bloomberg's Alix Steel and Paul Sweeney harness the power of Bloomberg Intelligence to provide in-depth research and data on more than 2,000 companies and 130 industries. $41.4 million and $41.2 million respectively. 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 Scion Asset Management manager revealed the purchase of seven new stocks in the last quarter. Scion Asset Management is an investment fund managing more than $41.3 million ran by Michael Burry. More than 90% of the beds are located in the US. 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. This relationship may introduce bias where a firm or related person recommends certain securities with which they are affiliated, rather than others that may have higher returns. The majority of the companies in the funds portfolio are large-cap stocks. On this Wikipedia the language links are at the top of the page across from the article title. Michael Burry is an American investor, and hedge fund manager. Scion Asset Management's public equity portfolio is heavily concentrated. 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. . And we could be headed for another recession. Currently, Scion Asset Management's portfolio is worth at least $41.3 million. 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: It would appear that Burry is betting that China will rebound. Alibaba Group Holding Limited ADR (US:BABA) [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. [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. 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. He previously owned shares earlier this year but sold out in the second quarter per his latest 13F filing as of June 30th. All requests for updated information should also be reported directly to the SEC and/or FINRA. Questions to ask All rights reserved. Dr. Michael Burry's Scion Asset Management disclosed holdings on Feb. 15 for the first time in over two years. 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. 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. He also urged investors to liquidate their stocks. 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. Burry's Scion Asset Management bought 2,355 put contracts against the red-hot tech ETF during the second quarter and held them through the end of the period. 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. Charles Bobrinskoy - Ariel Focus Fund Updated 11 Jan 2023. Does your fim accept soft-dollar benefits? In total, Scion Asset Management manages $291.7 million in assets. The portfolio numbers only nine equities, with The GEO Group accounting for 20.4% of its holdings. Questions to ask It is now the funds second-largest holding, accounting for 18.3% of its holdings. Firm or related person receives soft-dollar benefits in connection with client securities transactions. The companys operating income can be divided into three segments: US Secure Services, Electronic Monitoring and Supervision Services, Reentry Services, and International Services. Unlike HTTPS connections, HTTP connections are not encrypted. To allow for equitable access to all users, SEC reserves the right to limit requests originating from undeclared automated tools. 20665 4th Street, Suite 201. Sensitive information sent over an HTTP connection can easily be eavesdropped on by third-parties. 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. Wolverine World Wide, Inc. (US:WWW) 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). Firm or an affiliate actively engages in business as a law firm or lawyer. 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. What does this mean? 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. . I cover the recent 13F filings and the logic behind Michael Burry's po. The Scion Asset Management founder studied at UCLA and earned his medical degree at Vanderbilt University before starting and eventually abandoning a residency at Stanford University . A good way to understand Burry's thinking and Scion Asset Management's . , Shares of Chinese e-commerce behemoth Alibaba have remained under pressure despite the company generating rather robust revenues given the ongoing trading environment. For more information, please see the SECs Web Site Privacy and Security Policy. Visit Site, Is this your firm? Five years later in 2013 Michael Burry reopened his fund with slightly changed name Scion Asset Management. Any data inaccuracies, please contact our team. Founded in 2003, Scion Asset Management, LLC is a private investment firm led by investing guru Dr. Michael J. Burry. Participation in the Certification program, including the payment of an annual fee to investor.com, does not guarantee or in any way bias investor.com's decision to award "Trusted by investor.com" status, and "Trusted by investor.com" status shall not constitute or be construed as an endorsement of any firm by investor.com. This means they effectively own 0.6% of the company. The company is currently facing heavy challenges, including all major banks cutting ties with private prisons and President. What does this mean? These companies are located in Dover DE, Madison WI, and Saratoga CA. [32], Burry was highly critical of the lockdowns during the COVID-19 pandemic in the United States.[33]. Does your firm perform side-by-side management? Yes or 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." Scion was up 55%. approximately 0.1% of the total holdings value. 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 Company serves clients in the United States. For further detail, see our articles on different types of advisors and financial advisor services. Questions to ask 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. 408-441-8400 According to author Michael Lewis, "in his first full year, 2001, the S&P 500 fell 11.88%. The portfolio is made up of a total of 102 facilities, including 82,000 beds. GameStop Stock: What the SEC Says About Direct Registration, Alibaba Group Holding Limited American Depositary Shares each representing eight. Scion Asset Management, LLC has disclosed 9 total holdings in their latest SEC filings. 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. Data is sourced from 13D/13G, 13F, and N-Q filings. 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. Please provide me a list of the products and a summary of how much your firm earns from them. 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. He had already built a reputation as an investor at the time by exhibiting success in value investing. SkyWest, Inc. (US:SKYW) 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 . Investors profit from puts when the . The fund's top five holdings, which we analyze below, account for 72.2% of its total public . Operating as an online business, this site may be compensated through third party advertisers. Scion Asset Management is a small firm focused on serving institutional investors, and pooled investment vehicles in particular. What does this mean? Scion Capital returned 489.34% (net of fees and expenses) between November 1, 2000 and June 2008 compared to 3% total return from S&P 500 during the same time frame. 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. Does the firm offer products that have performance-based fees, or does it accept performance-based fees? Keep reading this article to learn more about Scion Asset Management. The SEC or CFTC has found firm or an advisory affiliate to have been involved in a violation of its rules. And we will have another inflation spike. Our Methodology. 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. Disclaimer: It is our organization's primary mission to provide reviews, commentary, and analysis that are unbiased and objective. [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. Burry has amassed more than 1.4 million followers on Twitter, where he frequently tweets and then deletes his predictions about the US economy. The portfolio numbers only nine equities, with The GEO Group accounting for 20.4% of its holdings. Does your firm recommend securities that it or its affiliates underwrite, or in which it serves as general or managing partner? Nothing on this website constitutes, or is meant to constitute, advice of any kind. Private prison giants The GEO Group accounts for 20.4% of Scion Assets management public equity holdings. Demand for the companys products has remained robust lately, but inflationary pressures on the expenses side of the income statement have suppressed profitability severely. Follow Tweet. Current guidelines limit users to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests. On the other hand, small-cap stocks make up only approximately 0.1% of the portfolio. MGM Resorts International (US:MGM) For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. Scion Asset Management: Michael Burry: 22.59%: $46538000: 9: Top Holdings Largest Trades Portfolio Structure Sector Allocation Performance History. Northport Investment Management, Albatross Investment Services, Lynn H. ORR Capital Management Group, Level Partners Management, Allvestments, Was this helpful? Perform physically demanding work to maintain the asset, and other property features to minimize liability concerns. Scion Asset Management, LLC Portfolio Never miss a trade. FINRA data last verified February 17, 2023. When? Dr. Burry 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. Filing Date. 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. Firm or a related person trades securities for themselves that they also recommend to their clients. The concept of Value Investing can sum up Michael Burrys whole investment philosophy. Eventually Burry closed his fund and retired. However, Dr. Burry has a much broader track record in the investing world. There are 3 companies that go by the name of Scion Asset Management, LLC. Details on the strike price of the puts, their value and whether they were part of a broader trade were not available. A domestic or foreign court has previously found firm or an advisory affiliate was involved in a violation of investment-related statutes or regulations. Most recent portfolio value is calculated to be $ 46,536,925 USD. 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. Michael Burry's hedge fund's other holdings consist of: In general, Michael Burry's investment philosophy is based on fundamental analysis. Black Knight is a new holding for Scion Asset Management, initiated in its most recent quarterly filings. Some detractors have suggested that a cancellation of student debt would further fuel inflation that hit its highest level in decades last year. Point72 Asset Management . , At 06/30/2022: $3,309. The firm owned 95,150 shares of the company's stock after purchasing an additional 57,650 shares during the period. What does this mean and why is it important? What does this mean? The current portfolio value is calculated to be $47.00 Mil. Firm performs side-by-side management with accounts that have differing fee structures. While Scion Asset Management advises clients across a variety of portfolio sizes, the average client balance is currently $72.9 million. 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 partners compensate us through paid advertising. assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents. [9] His son was diagnosed with Asperger syndrome, and Burry believes he himself has Asperger syndrome after reading about the disorder. 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 fund only has four clients. Stock Company Name % of Portfolio Shares Owned Value Change in Shares Ownership History The largest investments include Geo and Qurate Retail Inc, together worth $25.6 million. Chase Coleman's: Tiger Global Management. Financial advisors help you achieve your life goals, such as saving for retirement, by creating a comprehensive financial plan and managing your investment portfolio (e.g., stocks, ETFs, mutual funds, bonds). Michael James Burry (/bri/; born June 19, 1971)[2] is an American investor, hedge fund manager, and physician. 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. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Thanks for contacting us. Firm or an advisory affiliate has previously been fined or ordered to cease and desist activity by the SEC or CFTC. Is your firm affiliated with a law firm in any capacity? Stocks and cryptocurrency portfolio tracker. It is now the funds fourth-largest holding, accounting for 10.7% of its holdings. The firm doesn't work with individual investors, although individuals may invest in the funds for which it provides investment advisory services. This makes their stake in Geo total 2,019,150 shares worth $15.5 million. The firm's website is not secure by modern internet standards. Through his analysis of mortgage lending practices in 2003 and 2004, he correctly predicted that the real estate bubble would collapse as early as 2007. Monte Huber is responsible for leading Scion's financial planning, reporting and risk management. 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. Written by investor.com. With headquarters in New York and offices in London and Guernsey, Sciens has been investing in real assets strategies since 2007. The following data is gathered from Scion Asset Management's latest 13F filing with the SEC for the reporting period of September 30, 2022. Specifically, his picks were published on message boards on the stock discussion site Silicon Investor back in 1996, with their returns being outstanding! [28] In October 2021, after a 100% rise in Tesla's stock value, he revealed he was no longer shorting it. Louis Bacon's: Moore Capital Management. Scion Asset Management is an investment fund managing more than $41.3 million ran by Michael Burry. Scion Asset Management Holdings Heatmap . Black Knight Inc (US:BKI) ", "Why Is Michael Burry Investing In Water? $48.3 Million Total portoflio value. He founded the hedge fund Scion Capital, which he ran from 2000 until 2008 before closing it to focus on his personal investments. 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. Questions to ask What does this mean? Qurate Retail Inc and bought 5,000,000 shares worth $10.1 million. In January, Burry made predictions for an economic downturn in 2023. The fund focuses on investments in the United States as 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. It's not hard.". He has Rusyn ancestry. Questions to ask Last year, the nonpartisan Committee for a Responsible Federal Budget found the plan will likely cost an astronomical $400-$600 billion over time. 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. The purchase prices were between $9.72 and $15.36, with an estimated average price of $12.41. 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. He quickly earned extraordinary profits for his investors. Common Stock (US:US19247G1076) Profitability has also been weak. Burry followed up his warning by detailing his own experience with student debt. Questions to ask Burry even ended up selling 99% of his positions in 2022, including Alphabet (GOOGL) - Get Free Report, Warner Bros Discovery (WBD) - Get Free Report, and Meta (META) - Get Free Report, leaving only his position in GEO Group. Relative to the previous quarter there was a little reshuffling of his holdings. The investment fund also strengthened its position in Geo by buying 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.