scion asset management

Michael Burry . This form was filed on 2023-02-14 for the reporting period 2022-12-31. Note: We do not offer technical support for developing or debugging scripted downloading processes. This typically occurs when firms manage mutual funds or hedge funds alongside smaller retail accounts. Scion Asset Management, LLC Holdings. Terms of Use | Disclaimers | Privacy Policy. By using this site, you are agreeing to security monitoring and auditing. What does this mean? [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. 100.0% While partners may pay to provide offers or be featured, e.g. And it is notwater is political, and litigious. 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. 18951. However, Dr. Burry has a much broader track record in the investing world. 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. Questions to ask 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. These partnerships do not influence editorial content. This could be detrimental to a client during down markets. financing, asset management, . As a consumer advocacy project, investor.com does not charge any licensing fees for earned state accolade badges. Each month, investor.com helps thousands of Americans answer the question, "Can I trust you?". While Scion Asset Management advises clients across a variety of portfolio sizes, the average client balance is currently $72.9 million. What does this mean and why is it important? [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. Will anyone that was involved be involved with my accounts in any capacity? , whose value fell approximately 0.1% in the past six months. Steven Romick - FPA Crescent Fund Updated 12 Jan 2023. Scion Asset Management LLC holdings changes, total fund size, and other information presented on HoldingsChannel.com was derived from Scion Asset Management LLC 13F filings. 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. [9] His son was diagnosed with Asperger syndrome, and Burry believes he himself has Asperger syndrome after reading about the disorder. 0001567619-21-010281.txt. Dr. Michael Burry and his fund Scion Capital were made famous by the movie "The Big Short," which 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. 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 . Burry has a strictly traditional understanding of value. , In his words: All my stock picking is 100% based on the concept of a margin of safety.. Scion Asset Management, LLC operates as an investment firm. Firm or an advisory affiliate has previously had an investment-related civil action dismissed against them following a cash settlement in court. Questions to ask 2015-2023 Fintel Ventures LLC. During its latest 13F filing, Scion Asset Management executed the following notable portfolio adjustments: Scion Asset Managements public equity portfolio is heavily concentrated. <style> body { -ms-overflow-style: scrollbar; overflow-y: scroll; overscroll-behavior-y: none; } .errorContainer { background-color: #FFF; color: #0F1419; max-width . Furthermore, Burry has predicted a vicious cycle in which the Fed raises interest rates to a level not seen since the 2008 crisis. Top 50 Scion Asset Management 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. Why Didn't the Fed? JD.com, Inc. (US:JD) Some firms receive these fees as payments, which creates an incentive to promote them. Financial professionals should disclose all positions they hold (or have sold short) that they will also be recommending to their clients. Since Jun 2013. Does your firm offer mutual funds that have 12b-1 fees? . Note that this policy may change as the SEC manages SEC.gov to ensure that the website performs efficiently and remains available to all users. documented the history and events leading up to his contrarian but hugely successful bet against the real estate market No. Bill Ackman's: Pershing Square Capital Management. When I left residency at Stanford to gamble my future on what was to become, I had well into six figures of educational debt, Burry tweeted Wednesday. Firm can legally elect to accept commissions for their investment advisory services. The headquarters of Scion Asset Management is 20665 4th Street, Suite 201. Rather, he pays attention to off-balance sheet metrics and naturaly, free cash flow. The Company serves clients in the United States. MGM Resorts International (US:MGM) He then left to start his own hedge fund. Musk Made a Mess at Twitter. Black Knight Inc (US:BKI) For further detail, see our articles on different types of advisors and financial advisor services. The concept of Value Investing can sum up Michael Burrys whole investment philosophy. Burry's Scion Asset Management said in a regulatory filing in mid-May it had put options on 800,100 Tesla shares as of the end of the first quarter. Questions to ask All rights reserved. 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. The largest investments include Geo and Qurate Retail Inc, together worth $25.6 million. He had already built a reputation as an investor at the time by exhibiting success in value investing. Bidens orders, which directed the attorney general not to renew Justice Department contracts with privately operated criminal detention facilities. Sure Dividend compiles the following stock market databases and updates them monthly: Thanks for reading this article. Top 50 Scion Asset Management Holdings . There are currently 6 companies in Mr. Burry's portfolio. [30], Burry is married, with children, and was living in Saratoga, California in 2010. Particularly, in 2005, Dr. Burry started to concentrate on the subprime market. What does this mean and why is it important? Relative to the number of outstanding shares of Geo, Scion Asset Management owns more than approximately 0.1% of the company. For comparison, the S&P 500 ETF (SPY) generated annualized total returns of 7.5% over the same time period. These commissions may be earned from the sale of investment or insurance products and are paid by the companies providing the products being sold. 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 Medical Center. Firm or an advisory affiliate has previously had their authorization to act as an attorney, accountant, or federal contractor revoked or suspended. What conflicts do I need to be made aware of? Note: 13F filing performance is different than fund performance. The company is currently facing heavy challenges, including all major banks cutting ties with private prisons and President. 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. Scion Asset Management, LLC Strategies arent specified: There isnt a lot of specificity provided . WRITE REVIEW. Designer and entrepreneur Melody Ehsani takes us on a journey from her early days working retail, to designing her first shoes and jewelry lines, to collaborating with Red Hot Chili Peppers and Jordan brand before taking on a bespoke role at Foot Locker. 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. SCION ASSET MANAGEMENT, LLC is a financial services company based out of 20400 STEVENS CREEK BOULEVARD, CUPERTINO, California, United States. I cover the recent 13F filings and the logic behind Michael Burry's po. 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 Scion Asset Management office and employees reside in Saratoga, California. ", "Why Is Michael Burry Investing In Water? Specifically, his picks were published on message boards on the stock discussion site Silicon Investor back in 1996, with their returns being outstanding! Scion's new purchases consist of . Stocks with a size of more than $10 billion in market cap make up | Investormint", "EDGAR Filing Documents for 0001567619-19-004198", The Big Shorts Michael Burry Sees a Bubble in Passive Investing, "Michael Burry Portfolio / Scion Asset Management, LLC Holdings", "Michael Burry tweet, Dec. 1, 2020 (Internet Archive)", "Michael Burry of 'The Big Short' reveals a $530 million bet against Tesla", "Michael Burry of 'Big Short' Bets Against Cathie Wood's ARKK", "Author Michael Lewis on Wall Street's Delusion", "Legendary Investor Leaves Twitter, Lists 8 Metal Bands in Bio", "Where 'The Big Short's Michael Burry Is Today", "Michael Burry: Subprime Short-Seller No. Founded in 2013, Scion Asset Management is a multi-strategy hedge fund manager based in Saratoga, California. This page was last edited on 1 February 2023, at 20:47 (UTC). subsequently closed the Scion Capital fund and has since launched his latest fund, Scion Asset Management. 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. SkyWest, Inc. (US:SKYW) While Scion Asset Managements portfolio lacks diversification, its holdings come with characteristics that reflect Dr. Burrys principles. FINRA data last verified February 17, 2023. The firm prefers to employ long/short, market neutral, and activist strategies. He also urged investors to liquidate their stocks. Geo dropped approximately 0.1% in the past year. Scion's required disclosure did not include any "short" position it held in the third quarter, nor does it show . 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. If a user or application submits more than 10 requests per second, further requests from the IP address(es) may be limited for a brief period. Scion Asset Management Holdings Heatmap . Scion Asset Management fund manager Michael Burry, who rose to fame with timely bets against housing ahead of the 2008 financial crisis, in the last quarter dumped a dozen bullish positions and . 1,517,790 additional shares. Questions to ask 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. The Scion Asset Management manager revealed the purchase of seven new stocks in the last quarter. Firms that receive soft-dollar benefits could be incentivized to push trades through broker-dealers that provide advantages to the firm instead of through broker-dealers that could provide the best execution for their clients. (Disclaimers: this is not investment advice. With GME then traded around $4, Burry disclosed he'd previously sent GME's board several letters recommending an aggressive share buyback. 0001567619-21-015632. [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. Questions to ask The portfolio numbers only nine equities, with The GEO Group accounting for 20.4% of its holdings. The portfolio is made up of a total of 102 facilities, including 82,000 beds. The SEC or CFTC has found firm or an advisory affiliate to have been involved in a violation of its rules. 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. "[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. Michael Burry's Scion Asset Management jettisoned 11 US equities in the second quarter and ended the period with just one. GameStop Corp. 625 Westport Parkway. Portfolio 9 Options 0 Performance. 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. [32], Burry was highly critical of the lockdowns during the COVID-19 pandemic in the United States.[33]. Scion Asset Management manages $291.7 million and provides investment advisory services for 4 clients (1 advisor/client ratio). Description. and While this can be seen as "eating your own cooking," there are conflicts that may arise. Burry may have missed out on a big windfall by selling his stock, but he also avoided a dramatic decline. Follow Tweet. Keep reading this article to learn more about Scion Asset Management. 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. Will any of my assets be invested in those products? These sectors generally tend to benefit from periods of economic expansion, lower interest rates, low unemployment, and gross domestic product (GDP) growth. . Scion employs over 1,750 team members and has over $9 billion of assets under . When I left residency at Stanford to gamble my future on what was to become, I had well into six figures of educational debt. What does this mean? 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. Here you can find the latest trades based on Burry's 13F filings and insider trades. His solemn investing philosophy has resulted in outsized market returns over the past few years, beating the S&P 500 by a wide margin. With headquarters in New York and offices in London and Guernsey, Sciens has been investing in real assets strategies since 2007. Scion Asset Management, registered in 2018, serves 2 state(s) with a licensed staff of 4 advisors. Scion Asset Management, LLC's top holdings are [13], In 2005, Burry started to focus on the subprime market. What does this mean and why is it important? Wolverine World Wide designs, produces, and distributes footwear, apparel, and other accessories globally. Thanks for supporting the Wall Street Memes). Scion Asset Management's public equity portfolio is heavily concentrated. Louis Bacon's: Moore Capital Management. 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