scion asset management

What conflicts do I need to be made aware of? The SEC or CFTC has found firm or an advisory affiliate to have been involved in a violation of its rules. In comparison, the S&P 500 returned just under 3%, including dividends, over the same period. Last year, the nonpartisan Committee for a Responsible Federal Budget found the plan will likely cost an astronomical $400-$600 billion over time. The stock is now traded at around $14.430000. The investment fund also strengthened its position in Geo by buying in 2008. Advertiser Disclosure: StockBrokers.com helps investors across the globe by spending over 1,000 hours each year testing and researching online brokers. 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. 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's public equity portfolio is heavily concentrated. The companys operating income can be divided into three segments: US Secure Services, Electronic Monitoring and Supervision Services, Reentry Services, and International Services. Common Stock (US:US19247G1076) Qurate Retail Inc makes up These positions were updated on November 14th based on the funds latest 13F filing. 2023 Reink Media Group LLC. 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. All Scion Asset Management, LLC holdings are listed in the following tables. For further detail, see our articles on different types of advisors and financial advisor services. He quickly earned extraordinary profits for his investors. 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 . Warren Buffett's: Berkshire Hathaway. By visiting these sites, you are subject to their terms of use (IAPD, BrokerCheck). Firm or related person receives soft-dollar benefits in connection with client securities transactions. Scion Asset Management a Portfolio Activity as reported in the most recent 13F form published on Dec 31, 2022. 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. The Scion Group announced the addition of 32 high-quality assets and approximately 20,000 beds to its portfolio of student housing communities. On February 14, Michael Burry filed his company's holdings report with the SEC. Scion Asset Management manages $291.7 million and provides investment advisory services for 4 clients (1 advisor/client ratio). This makes their stake in Geo total 2,019,150 shares worth $15.5 million. Red rows indicate closed positions. Michael Burry is head of Scion Asset Management. 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. While Scion Asset Management advises clients across a variety of portfolio sizes, the average client balance is currently $72.9 million. The investor's firm, Scion Asset Management, held bearish put options on over 800,000 shares of Elon Musk's . In January, Burry made predictions for an economic downturn in 2023. 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. 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. 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. | 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. Scion Asset Management currently serves clients in the following states: CA, TN. For more information, contact opendata@sec.gov. 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. Scion Asset Management. 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 . Steven Romick - FPA Crescent Fund Updated 12 Jan 2023. What does this mean? It would appear that Burry is betting that China will rebound. [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. MGM Resorts International (US:MGM) Scion Asset Management manages $291.7 million and provides investment advisory services for 4 clients (1 advisor/client ratio). He named it after Terry Brooks' The Scions of Shannara (1990), one of his favorite novels. Ray Dalio's: Bridgewater Associates. Bailing generations out of those bad choices will mean more bad choices, tuition hikes, and terrible consequences for America, he added. The author may be long one or more stocks mentioned in this report. Financial plans and investment portfolios are always unique to the client's personal financial situation. These filings are called "notice filings". Firm or an advisory affiliate has previously had an investment-related civil action dismissed against them following a cash settlement in court. To see Scion Asset Management's original 13F reports (2022 Q4), please click on the "important" button. Follow Tweet. 1,517,790 additional shares. He also urged investors to liquidate their stocks. Firm is a broker-dealer, or is affiliated with one, and may be subject to compensation-related conflicts of interest. financing, asset management, . This form was filed on 2023-02-14 for the reporting period 2022-12-31. Each month, the investor.com Trust algorithm downloads the latest regulatory data from the SEC IAPD database. To see the historical data of Scion Asset Management's portfolio holdings please click on the "2022 Q4" dropdown menu and select the date. Scion Asset Management - Michael Burry assets under management (13F Holdings listing stock ownership and transaction history) provided by Insider Monkey. The majority of the companies in the funds portfolio are large-cap stocks. How do these benefits affect the firms selection of a broker-dealer partner? 340.15% 5-Year Performance. 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. Researcher and operations manager at DM Martins Research. How does your firm mitigate them? 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. A domestic or foreign court has previously found firm or an advisory affiliate was involved in a violation of investment-related statutes or regulations. Scion Asset Management is an investment fund managing more than $41.3 million ran by Michael Burry. Furthermore, Burry has predicted a vicious cycle in which the Fed raises interest rates to a level not seen since the 2008 crisis. For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. Scion Asset Management 13F annual report. [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. Competition has been eating the companys lunch for years, with Wolverine having a hard time sustaining its sales over the past decade, let alone growing them. What does this mean? 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 felony. 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 Scion Group is the largest owner/operator of off-campus student housing communities globally. Unauthorized attempts to upload information and/or change information on any portion of this site are strictly prohibited and are subject to prosecution under the Computer Fraud and Abuse Act of 1986 and the National Information Infrastructure Protection Act of 1996 (see Title 18 U.S.C. Questions to ask , On this Wikipedia the language links are at the top of the page across from the article title. Not only did he make a personal profit of $100 million, but his remaining investors earned more than $700 million. 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. 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. He has warned a severe recession on several occasions over the last year. You can download an Excel spreadsheet with metrics that matter of Scion Asset Managements current 13F equity holdings below: Click here to instantly download your free spreadsheet of all Scion Asset Management / Michael Burry holdings now, along with important investing metrics. Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. EXHIBIT C. July 28, 2019. Our Methodology. David Einhorn's: Greenlight Capital. Note: 13F filing performance is different than fund performance. Scion Asset Management, LLC initiated holding in Lumen Technologies Inc. What does this mean? In the past ten years, a regulatory agency other than the SEC or CFTC has previously entered an order against this firm or an advisory affiliate in connection with an investment-related activity. Scion employs over 1,750 team members and has over $9 billion of assets under . Top 50 Scion Asset Management Holdings . The headquarters of Scion Asset Management is 20665 4th Street, Suite 201. 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. Stock Company Name % of Portfolio Shares Owned Value Change in Shares Ownership History Our system found no disciplinary alerts. The stocks valuation has been compressed to a very low forward P/E ratio of about 10.4X, primarily because investors have been ditching Chinese equities due to the ongoing geopolitical risks involved. The firm's asset exposure includes equities, derivatives, and fixed income instruments. SCION ASSET MANAGEMENT, LLC ( CRD # 167772/SEC#:801-113529 ) The adviser's REGISTRATION status is listed below. While this can be seen as "eating your own cooking," there are conflicts that may arise. We have concerns regarding capital management at . Thus, be mindful and conduct your own research before allocating your hard-earned money to any of these names. Please provide me a list of the products and a summary of how much your firm earns from them. Details on the strike price of the puts, their value and whether they were part of a broader trade were not available. Your request has been identified as part of a network of automated tools outside of the acceptable policy and will be managed until action is taken to declare your traffic. "[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. What conflicts arise from this relationship? 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. Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens. And it is notwater is political, and litigious. Geo dropped approximately 0.1% in the past year. Burry's trade that made him a legend was when he used derivatives to bet on a real estate market crash in 2008 which made him . I cover the recent 13F filings and the logic behind Michael Burry's po. Execute maintenance objectives and daily assignments with the Facilities Supervisor. Firm or a related person trades securities for themselves that they also recommend to their clients. When performance-based fees are charged, the financial advisor is paid for outperforming a benchmark, typically an index. Burry predicted Tesla stock would collapse like the housing bubble,[27] saying that "my last Big Short got bigger and Bigger and BIGGER" and taunted Tesla bulls to 'enjoy it while it lasts. 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. At 06/30/2022: $3,309. Musk Made a Mess at Twitter. [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". Dr. Burry trimmed Scions position in The GEO Group by 47%, with the fund now owning around 0.85% of the companys outstanding shares. And we could be headed for another recession. [9] His son was diagnosed with Asperger syndrome, and Burry believes he himself has Asperger syndrome after reading about the disorder. 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 Asset Management Holdings Heatmap . The S&P 500, widely regarded as the benchmark for the US market, returned just under 3%, including dividends over the same period. Scion Asset Management, LLC's new positions include and Scion Asset Management: Michael Burry: 22.59%: $46538000: 9: Top Holdings Largest Trades Portfolio Structure Sector Allocation Performance History. Michael Burry has been on a buying spree lately. By using this site, you are agreeing to security monitoring and auditing. To allow for equitable access to all users, SEC reserves the right to limit requests originating from undeclared automated tools. Eventually Burry closed his fund and retired. 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. The portfolio's exposure to China is also thought-provoking. When operating in this dual capacity, advisors may be incentivized to implement plans as an attorney that could drive higher revenue for themselves as investment advisors. 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. Burry, who is primarily known for his "Big Short" position, has made predictions about 2023, and these may be well expressed in short positions. There are currently 6 companies in Mr. Burry's portfolio. 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. , Dr. Michael Burry's Scion Asset Management disclosed holdings on Feb. 15 for the first time in over two years. This means they effectively own 0.6% of the company. documented the history and events leading up to his contrarian but hugely successful bet against the real estate market What does this mean and why is it important? A good way to understand Burry's thinking and Scion Asset Management's . The portfolio is made up of a total of 102 facilities, including 82,000 beds. There are 3 companies that go by the name of Scion Asset Management, LLC. Scion Asset Management Review. Scion Asset Management's Portfolio - All 9 Public Equity Investments. Does your firm recommend securities that it or its affiliates underwrite, or in which it serves as general or managing partner? The largest investments include Geo and Qurate Retail Inc, together worth $25.6 million. Scion Asset Management General Information. Quickly find out what the most recently closed or increased positions are. (Disclaimers: this is not investment advice. Scion Asset Management, LLC is a private investment firm founded and led by Dr. Michael J. Burry [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. Scion's required disclosure did not include any "short" position it held in the third quarter, nor does it show . The Scion Asset Management office and employees reside in Saratoga, California. The impact to a portfolio due to this purchase was 0.65%. Rather, he pays attention to off-balance sheet metrics and naturaly, free cash flow. The next year, the S&P 500 fell again, by 22.1%, and Scion was up again: 16%. Sciens Capital Management Sciens Capital Management LLC is an alternative asset management firm founded in 1994. Scion Asset Management, LLC has disclosed 9 total holdings in their latest SEC filings. Hedge fund boss Michael Burry is warning of terrible consequences for the US if the Biden administrations student loan debt forgiveness plan is upheld. Please declare your traffic by updating your user agent to include company specific information. February 17, 2023. Any data inaccuracies, please contact our team. The firm owned 95,150 shares of the company's stock after purchasing an additional 57,650 shares during the period. [30], Burry is married, with children, and was living in Saratoga, California in 2010. Finally, the Loss Mitigation segment develops solutions that support retention and liquidation workouts. Apply for Trusted badge. Michael J. Burry is known by most as the Big Short investor due to the eponymous movie revolving around himself and his story during the days of the Great Financial Crisis, a role played by Christian Bale. Scion Asset Management, LLC's top holdings are 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. This could be detrimental to a client during down markets. assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents. . 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. All rights reserved. All requests for updated information should also be reported directly to the SEC and/or FINRA. It's not hard.". The following data is gathered from Scion Asset Management's latest 13F filing with the SEC for the reporting period of September 30, 2022. Firm or an advisory affiliate was previously found to have made false statements or omissions by a self-regulatory organization. Firm or an affiliate actively engages in business as a law firm or lawyer. Scion Asset Management, LLC The current portfolio value is calculated to be $47.00 Mil. Portfolio 9 Options 0 Performance. What does this mean? How does your firm mitigate conflicts that arise from managing accounts with differing fee structures? 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. Coherent Corp. produces and manufactures, and sells engineered materials, optoelectronic components, and devices internationally. Heejin Kim and Myungshin Cho (29 August 2019). Primary Business Name: SCION ASSET MANAGEMENT, LLC CRD Number: 167772 Other-Than-Annual Amendment - All Sections Rev. 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. While Scion Asset Managements portfolio lacks diversification, its holdings come with characteristics that reflect Dr. Burrys principles. SEC Form 13F Filing History. The largest investments include Geo and Qurate Retail Inc, together worth $25.6 million.