$41.4 million and $41.2 million respectively. Michael Burry of Scion Asset Management liquidated his entire investment portfolio in the second-quarter, according to the latest 13F holdings report. * Reported Price is the price of the security as of the portfolio date. : 000000000 | State of Incorp. Scion Asset Management a Portfolio Activity as reported in the most recent 13F form published on Dec 31, 2022. Black Knight is a new holding for Scion Asset Management, initiated in its most recent quarterly filings. How does your firm mitigate conflicts that arise from managing accounts with differing fee structures? Since Jun 2013. Why has Burry, who is bearish on the . Will anyone that was involved be involved with my accounts in any capacity? Relative to the number of outstanding shares of Geo, Scion Asset Management owns more than approximately 0.1% of the company. The firm's website is not secure by modern internet standards. The president and supporters of his plan argue student loan debt forgiveness will provide much-needed relief to million debt-saddled Americans. As a financial advisory firm, Scion Asset Management can provide a variety of financial planning services for Americans. For the most up-to-date information, please view the applicable SEC and FINRA reports above. The turnover rate is 70%. Sciens Capital Management Sciens Capital Management LLC is an alternative asset management firm founded in 1994. Please provide me a list of the products and a summary of how much your firm earns from them. are based in the United States. Lets not forget that the student debt problem is built on a foundation of terrible major choices.Bailing generations out of those bad choices will mean more bad choices, tuition hikes, and terrible consequences for America. Scion Asset Management, registered in 2018, serves 2 state (s) with a licensed staff of 4 advisors. 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. Follow Tweet. Neither the SEC nor FINRA tracks portfolio performance metrics for the financial planning industry. The Scion Asset Management office and employees reside in Saratoga, California. More than 90% of the beds are located in the US. 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. And it is notwater is political, and litigious. He previously owned shares earlier this year but sold out in the second quarter per his latest 13F filing as of June 30th. , The author may be long one or more stocks mentioned in this report. Co-producer of The Street's financial channels: Apple Maven, Amazon Maven and Wall Street Memes. 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. What conflicts do I need to be made aware of? As a result, unlike hedge funds, there is no historical performance for any financial advisory firm. The next year, 2003, the stock market finally turned around and rose 28.69%, but Burry beat it again, with returns of 50%. FINRA data last verified February 17, 2023. Growth has also been smooth for the company due to the recurring nature of its business model. SCION ASSET MANAGEMENT, LLC ( CRD # 167772/SEC#:801-113529 ) The adviser's REGISTRATION status is listed below. This form was filed on 2023-02-14 for the reporting period 2022-12-31. Founded in 2003, Scion Asset Management, LLC is a private investment firm led by investing guru Dr. Michael J. Burry. We've received your submission. Our system found no disciplinary alerts. Stock Company Name % of Portfolio Shares Owned Value Change in Shares Ownership History Finally, the Loss Mitigation segment develops solutions that support retention and liquidation workouts. Musk Made a Mess at Twitter. Here's what investors need to know about Michael Burry's long positions. Investors profit from puts when the . The SEC or CFTC has previously entered an order against this firm or an advisory affiliate in connection with an investment-related activity. Our system has identified the following conflict alerts. Burry, who is primarily known for his "Big Short" position, has made predictions about 2023, and these may be well expressed in short positions. During its latest 13F filing, Scion Asset Management executed the following notable portfolio adjustments: Scion Asset Managements public equity portfolio is heavily concentrated. Figure 1:What to Know About Michael "Big Short" Burry's Latest Stock Purchase, Read also: GameStop Stock: What the SEC Says About Direct Registration. In the most recent 13F filing, Scion Asset Management revealed that it had opened a new position in The firm's asset exposure includes equities, derivatives, and fixed income instruments. Limited offerings: Scion Asset Management isnt an advisory firm as much as it is an asset management company. At the age of two he lost his left eye to retinoblastoma[3] and has had a prosthetic eye ever since. Burry may have missed out on a big windfall by selling his stock, but he also avoided a dramatic decline. Checks take place monthly. Scion Asset Management, LLC Holdings. 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 headquarters of Scion Asset Management is 20665 4th Street, Suite 201. Company profile page for Scion Asset Management LLC including stock price, company news, press releases, executives, board members, and contact information In addition, the fund holds 5,000,000 shares of . Michael Burry's hedge fund's other holdings consist of: In general, Michael Burry's investment philosophy is based on fundamental analysis. [13], In 2005, Burry started to focus on the subprime market. 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. There are currently 6 companies in Mr. Burrys portfolio. Shares of Chinese e-commerce behemoth Alibaba have remained under pressure despite the company generating rather robust revenues given the ongoing trading environment. Scion Asset Management manages $291.7 million and provides investment advisory services for 4 clients (1 advisor/client ratio). 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. 340.15% 5-Year Performance. So is Burry less bearish on the U.S. economy than he was last year? Burry is betting big on the discretionary and industrial sectors, which generally benefit from economic growth. Specifically, the company repurchased nearly $9.7 billion worth of stock last year. GameStop Corp. 625 Westport Parkway. 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. 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). SCION ASSET MANAGEMENT, LLC is a financial services company based out of 20400 STEVENS CREEK BOULEVARD, CUPERTINO, California, United States. 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. Firm or an advisory affiliate was previously found to have made false statements or omissions by the SEC or CFTC. 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. *SEC data last verified February 17, 2023. All requests for updated information should also be reported directly to the SEC and/or FINRA. 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. Northport Investment Management, Albatross Investment Services, Lynn H. ORR Capital Management Group, Level Partners Management, Allvestments, Was this helpful? Aside from potential increases to the cost of education, Burry did not elaborate on what terrible consequences he foresees for the country. And we could be headed for another recession. 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. 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. Scion Asset Management General Information. The investment fund's only holding now is The . Black Knight Inc (US:BKI) 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. Published on February 27th, 2023 by Nikolaos Sismanis. [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. The Servicing Digital segment offers web and mobile solutions for consumers that deliver easy access to customized, timely information about their mortgages. Questions to ask What percentage of income does your firm receive from fees versus commissions? Average metrics of all companies in portfolio . They contribute around 66%, 13%, 11 and 9% of total revenues, respectively. How does your firm approach insurance sales? Why does your firm believe in offering commission-based services to clients? Several times last year, Burry predicted a stock market crash by betting that inflation would not give way. Should I Hire a Financial Advisor or DIY It? 1001 and 1030). [4] As a teenager, he attended Santa Teresa High School. While StockBrokers.com has all data verified by industry participants, it can vary from time to time. Firm or an advisory affiliate was previously found to have made false statements or omissions by a self-regulatory organization. [17] He subsequently liquidated his company to focus on his personal investments. Does your firm offer mutual funds that have 12b-1 fees? Accordingly, he disregards price-to-earnings ratios to dodge being deceived by a companys stated metrics. When? Regulatory disclosures state that firm sells proprietary investments and products. I was damned sure I was going to pay it off.. After attending medical school, Dr. Burry left to start his own hedge fund in 2000. The SEC or CFTC has found firm or an advisory affiliate to have been involved in a violation of its rules. What does this mean? He has said, "Fresh, clean water cannot be taken for granted. What does this mean? Does the firm offer products that have performance-based fees, or does it accept performance-based fees? What does this mean? Latest Holdings, Performance, AUM (from 13F, 13D). [22] In 2020, the fund's largest investments were Alphabet Inc. ($121 million value) and Facebook ($24.4 million value). Questions to ask The advisory also believes in using fundamental analysis methods to assess . Portfolio manager(s) are listed as Michael Burry. Eventually, Burry's analysis proved correct: He made a personal profit of $100 million and a profit for his remaining investors of more than $700 million. 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. 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 . Michael Burry is head of Scion Asset Management. The Scion Group announced the addition of 32 high-quality assets and approximately 20,000 beds to its portfolio of student housing communities. As a result, the company will soon be able to self-fund its growth and overall operations. assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents. 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). A domestic or foreign court has previously found firm or an advisory affiliate was involved in a violation of investment-related statutes or regulations. 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. Mailing Address 20665 4TH STREET SUITE 201 SARATOGA CA 95070. Business Address 20665 4TH STREET SUITE 201 SARATOGA CA 95070 408-441-8400. Louis Bacon's: Moore Capital Management. Point72 Asset Management . This page was last edited on 1 February 2023, at 20:47 (UTC). Form 13F-HR - Quarterly report filed by institutional managers, Holdings: SEC Accession No. Scion Asset Management has become increasingly popular due to Dr. Burrys ability to identify undervalued investment opportunities around the world. By the end of 2004, he was managing $600 million and turning money away. The average market cap of the portfolio companies is close to $2.02 billion. What does this mean? The majority of the companies in the funds portfolio are large-cap stocks. Hedge Fund Manager. How do we make money? He looks for investments in undervalued companies with strong long-term prospects. For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. To allow for equitable access to all users, SEC reserves the right to limit requests originating from undeclared automated tools. Saratoga, CA 95070. Scion Asset Management, registered in 2018, serves 2 state(s) with a licensed staff of 4 advisors. Scion Asset Management, LLC Portfolio Never miss a trade. 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. Black Knight Inc (US:BKI) David Einhorn's: Greenlight Capital. What does this mean? Details on the strike price of the puts, their value and whether they were part of a broader trade were not available. approximately 0.1% of the total holdings value. T. Black Knight offers blended software, data, and analytics solutions all over the globe. Others say the plan is too costly and burdensome on taxpayers. His solemn investing philosophy has resulted in outsized market returns over the past few years, beating the S&P 500 by a wide margin. Lets not forget that the student debt problem is built on a foundation of terrible major choices, Burry, 51, tweeted on Tuesday. Scion employs over 1,750 team members and has over $9 billion of assets under . Thanks for supporting the Wall Street Memes). (Disclaimers: this is not investment advice. Scion Asset Management, LLC (Filer) CIK: 0001649339 (see all company filings) IRS No. The next year, the S&P 500 fell again, by 22.1%, and Scion was up again: 16%. The purchase prices were between $9.72 and $15.36, with an estimated average price of $12.41. 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. A Self-Regulatory Organization 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. 408-441-8400 Private prison giants The GEO Group accounts for 20.4% of Scion Assets management public equity holdings. It is now the funds fourth-largest holding, accounting for 10.7% of its holdings. Dr. Michael J. Burry is a well known investor and hedge fund manager of Scion Asset Management, LLC Holdings. 1,517,790 additional shares. To see the historical data of Scion Asset Management's portfolio holdings please click on the "2022 Q4" dropdown menu and select the date. "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. The Software Solutions segment provides software and hosting solutions comprising MSP, a SaaS application platform for mortgages, home equity loans, and lines of credit. 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. 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 . For security purposes, and to ensure that the public service remains available to users, this government computer system employs programs to monitor network traffic to identify unauthorized attempts to upload or change information or to otherwise cause damage, including attempts to deny service to users. What does this mean and why is it important? 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. Last year, the nonpartisan Committee for a Responsible Federal Budget found the plan will likely cost an astronomical $400-$600 billion over time. Scion Asset Management is an investment fund managing more than $41.3 million ran by Michael Burry. Firm is a broker-dealer, or is affiliated with one, and may be subject to compensation-related conflicts of interest. Also, the article may contain affiliate links. SCION ASSET MANAGEMENT LLC Institutional Portfolio | Nasdaq. Performance. A self-regulatory organization or commodities exchange has found firm or an advisory affiliate to have been involved in a violation of its rules. 2021-08-16. Justice Brett Kavanaugh suggested it was problematic that Biden took executive action even though Congress has not passed legislation related to student debt. Yes or Alibaba is down 71% from its October 2020 peak. What does this mean and why is this important? Maintain the physical condition of the property according to The Scion Group's Standard Operating Procedures, OSHA and Industry standards. Specifically, his picks were published on message boards on the stock discussion site Silicon Investor back in 1996, with their returns being outstanding! 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.
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