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Last year, the nonpartisan Committee for a Responsible Federal Budget found the plan will likely cost an astronomical $400-$600 billion over time. Michael Burry . When? Most recent portfolio value is calculated to be $ 46,536,925 USD. This video discusses the update to Michael Burry's portfolio (Scion Asset Management). What does this mean and why is it important? [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. Based in Saratoga, Calif., Scion has just six employees, two of whom . Red rows indicate closed positions. The bottom line has softened lately as a result of inflationary pressures and supply chain inefficiencies, but profits are still substantial. Performance. On this Wikipedia the language links are at the top of the page across from the article title. There are 3 companies that go by the name of Scion Asset Management, LLC. 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. Read through our introductory course to financial advisors. Rather, he pays attention to off-balance sheet metrics and naturaly, free cash flow. And we could be headed for another recession. This means they effectively own 0.6% of the company. Relative to the number of outstanding shares of Geo, Scion Asset Management owns more than approximately 0.1% of the company. Scion Asset Management, LLC's top holdings are Firm or a related person trades securities for themselves that they also recommend to their clients. Charles Bobrinskoy - Ariel Focus Fund Updated 11 Jan 2023. 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 most recent 13F filing, Scion Asset Management revealed that it had opened a new position in 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. The S&P 500, widely regarded as the benchmark for the US market, returned just under 3%, including dividends over the same period. He had already built a reputation as an investor at the time by exhibiting success in value investing. Average metrics of all companies in portfolio . Coherent Corp. produces and manufactures, and sells engineered materials, optoelectronic components, and devices internationally. On the other hand, small-cap stocks make up only approximately 0.1% of the portfolio. A regulatory agency has previously denied, suspended, or revoked the firms or an advisory affiliates registration or license or otherwise restricted their activities. Michael Burry's hedge fund's other holdings consist of: In general, Michael Burry's investment philosophy is based on fundamental analysis. The holding were 650,000 shares as of 2021-03-31. Michael Burry of Scion Asset Management liquidated his entire investment portfolio in the second-quarter, according to the latest 13F holdings report. 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). To file a complaint or dispute with this firm, please fill out the SEC Investor Complaint Form. 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 . Nevertheless, it is Dr. Burrys legendary plays prior to the Great Financial Crisis, and the massive returns that followed that pushed his name into the international spotlight. Black Knight Inc (US:BKI) In addition, the fund holds 5,000,000 shares of . are based in the United States. 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. Financial plans and investment portfolios are always unique to the client's personal financial situation. The investor's firm, Scion Asset Management, held bearish put options on over 800,000 shares of Elon Musk's . He looks for investments in undervalued companies with strong long-term prospects. Relative to the number of outstanding shares of Geo, Scion Asset Management owns more than approximately 0.1% of the company. But critics have aired various concerns about Bidens plan, such as whether his executive order oversteps the presidents authority. 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. 2023 Reink Media Group LLC. What does this mean and why is it important? Maintain the physical condition of the property according to The Scion Group's Standard Operating Procedures, OSHA and Industry standards. 1001 and 1030). document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Thanks for contacting us. Questions to ask Scion Asset Management, LLC has disclosed 9 total holdings in their latest SEC filings. Published on February 27th, 2023 by Nikolaos Sismanis. Note: We do not offer technical support for developing or debugging scripted downloading processes. Michael Burry is head of Scion Asset Management. Since 1999, Scion Advisory Services has been the sector's most trusted adviser, collaborating with clients on over 250 campuses and counting. Alibaba Group Holding Limited ADR (US:BABA) See how we calculate 13F filing performance here. 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. Currently tracking portfolios of 77 superinvestors. Yes or Five years later in 2013 Michael Burry reopened his fund with slightly changed name Scion Asset Management. By Steve Burns. Please see our General Disclaimers for more information. [5][6][7], He studied economics and pre-med at the University of California, Los Angeles, earned an MD degree from the Vanderbilt University School of Medicine,[6] and started but did not finish his residency[8] in pathology at Stanford University Medical Center. Please declare your traffic by updating your user agent to include company specific information. Here's what investors need to know about Michael Burry's long positions. Black Knight is a new holding for Scion Asset Management, initiated in its most recent quarterly filings. Firm or related person receives soft-dollar benefits in connection with client securities transactions. 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. 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. The firm doesn't work with individual investors, although individuals may invest in the funds for which it provides investment advisory services. The Form 13F report requires disclosure of the manager that files the report, the name and class of the security, the CUSIP number, the number of . Burry's bearish thesis is that the American economy will go into recession in 2023 regardless of how we define the term. While Scion Asset Management advises clients across a variety of portfolio sizes, the average client balance is currently $72.9 million. This value is significant in that it is the last known price at which the security was still held. Bidens orders, which directed the attorney general not to renew Justice Department contracts with privately operated criminal detention facilities. Monte Huber is responsible for leading Scion's financial planning, reporting and risk management. What does this mean and why is it important? 20665 4th Street, Suite 201. Why Didn't the Fed? * Reported Price is the price of the security as of the portfolio date. Questions to ask Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens. [18] He faulted federal regulators for failing to listen to warnings from outside a closed circle of advisors. What does this mean and why is this important? 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. 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. Others say the plan is too costly and burdensome on taxpayers. 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. Portfolio 9 Options 0 Performance. These conflicts can negatively impact clients via hidden fees and overall higher costs. Demand for the companys products has remained robust lately, but inflationary pressures on the expenses side of the income statement have suppressed profitability severely. FINRA data last verified February 17, 2023. 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. 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. MGM Resorts International (US:MGM) 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. What does this mean? 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. Scion Asset Management is a small firm focused on serving institutional investors, and pooled investment vehicles in particular. Scion Asset Management: Michael Burry: 22.59%: $46538000: 9: Top Holdings Largest Trades Portfolio Structure Sector Allocation Performance History. 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. Lets not forget that the student debt problem is built on a foundation of terrible major choices, Burry, 51, tweeted on Tuesday. For comparison, the S&P 500 ETF (SPY) generated annualized total returns of 7.5% over the same time period. Bailing generations out of those bad choices will mean more bad choices, tuition hikes, and terrible consequences for America, he added. Relative to the number of outstanding shares of Geo, Scion Asset Management owns more than approximately 0.1% of the company. 223.17% 10-Year Performance. To ensure our website performs well for all users, the SEC monitors the frequency of requests for SEC.gov content to ensure automated searches do not impact the ability of others to access SEC.gov content. Firm or an affiliate actively engages in business as a law firm or lawyer. 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. Scion Asset Management, LLC Holdings. , The Software Solutions segment provides software and hosting solutions comprising MSP, a SaaS application platform for mortgages, home equity loans, and lines of credit. Precisely because he doesnt focus on a specific industry and because the essence of financial metrics shifts by industry and each companys place in the economic cycle, Dr. Burry utilizes the ratio of enterprise value (EV) to EBITDA when researching investment ideas. The portfolio numbers only nine equities, with The GEO Group accounting for 20.4% of its holdings. (Disclaimers: this is not investment advice. These positions were updated on November 14th based on the funds latest 13F filing. 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 also urged investors to liquidate their stocks. A federal regulatory agency, a state regulatory agency, or a foreign financial regulatory authority other than the SEC or CFTC has found firm or an advisory affiliate to have been involved in a violation of investment-related statutes or regulations. 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. What does this mean? U.S Market Open - Market Closes in 49M 55S. This website is provided as is without any representations or warranties, express or implied. 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. 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. By visiting these sites, you are subject to their terms of use (IAPD, BrokerCheck). More than 90% of the beds are located in the US. Thanks for supporting the Wall Street Memes). Scion Asset Management is headquartered in Saratoga, California. He has said, "Fresh, clean water cannot be taken for granted. 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 . With GME then traded around $4, Burry disclosed he'd previously sent GME's board several letters recommending an aggressive share buyback. Scion Asset Management a Portfolio Activity as reported in the most recent 13F form published on Dec 31, 2022. The fund only has four clients. It is now the funds fifth-largest holding, accounting for 10.0% of its holdings. Please provide me a list of the products and a summary of how much your firm earns from them. BBBY has plummeted by more than 95% from its 2021 peak to below $2 a share today . 66.7% of the portfolio companies Last year was a turbulent one for China, marked by strict lockdowns and geopolitical and regulatory turmoil. 2021-08-16. 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. You can also sign up for email updates on the SEC open data program, including best practices that make it more efficient to download data, and SEC.gov enhancements that may impact scripted downloading processes. He previously owned shares earlier this year but sold out in the second quarter per his latest 13F filing as of June 30th. Our system found no disciplinary alerts. ", "Why Is Michael Burry Investing In Water? Firm can legally elect to accept commissions for their investment advisory services. 2023 NYP Holdings, Inc. All Rights Reserved, King of debt Joe Biden absurdly labels himself a deficit hawk, Teacher Randi Weingartens ignorant, anti-democratic rant, Bidens Ohio failure: Letters to the Editor March 2, 2023, Randi Weingarten has maniacal meltdown at student debt relief rally. Dr. Burry Michael Burry has been on a buying spree lately. 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. Firm offers products that have performance-based fees; the managers of those products may be incentivized to take inappropriate risks to beat their performance benchmark. 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. Disclaimer: It is our organization's primary mission to provide reviews, commentary, and analysis that are unbiased and objective. As a financial advisory firm, Scion Asset Management can provide a variety of financial planning services for Americans. Is your firm affiliated with a law firm in any capacity? Details on the strike price of the puts, their value and whether they were part of a broader trade were not available. The portfolio is made up of a total of 102 facilities, including 82,000 beds. Portfolio manager(s) are listed as Michael Burry. The largest investments include Geo and Qurate Retail Inc, together worth $25.6 million. Saratoga, CA 95070. Bloomberg via Getty Images. Company profile page for Scion Asset Management LLC including stock price, company news, press releases, executives, board members, and contact information The firm may also use leverage and derivative strategies to increase the rate of client success. There are currently 6 companies in Mr. Burrys portfolio. Nothing on this website constitutes, or is meant to constitute, advice of any kind. And it is notwater is political, and litigious. of the fund's Consumer Discretionary sector allocation and has decreased its share price by approximately 0.1% in the past year. In Michael Burry's current portfolio as of 2022-12-31, the top 5 holdings are The GEO Group Inc (GEO), Black Knight Inc . Burry is betting big on the discretionary and industrial sectors, which generally benefit from economic growth. What does this mean and why is this important? , 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. How does your firm mitigate conflicts that arise from managing accounts with differing fee structures? Burry, who is primarily known for his "Big Short" position, has made predictions about 2023, and these may be well expressed in short positions. [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. 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. While StockBrokers.com has all data verified by industry participants, it can vary from time to time. Justice Brett Kavanaugh suggested it was problematic that Biden took executive action even though Congress has not passed legislation related to student debt. Northport Investment Management, Albatross Investment Services, Lynn H. ORR Capital Management Group, Level Partners Management, Allvestments, Was this helpful?

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