scion asset management

That would put the U.S. in a recession under "any definition.". Alibaba Group Holding Limited ADR (US:BABA) Founded in 2018 as an unbiased resource empowering consumers to research and compare financial advisory firms, investor.com today gives consumers the tools to make smart money decisions about credit, retirement planning, and more. While StockBrokers.com has all data verified by industry participants, it can vary from time to time. . WRITE REVIEW. 2022-07-28: Important Note - We have changed the treatment of the, LILAK / Liberty Latin America Ltd Class C. Nevertheless, most stocks in the fund seem to be bearing their fair share of risks. Which securities does your firm trade for itself that it will also be recommending to me? Follow Tweet. [19] He has focused much of his attention on investing in water, gold, and farm land. Filing Date. The investor's firm, Scion Asset Management, held bearish put options on over 800,000 shares of Elon Musk's . 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. 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. This could also limit the number and diversity of investment options available and may impact their transferability. 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. [9], Despite not practicing, Burry has kept his license as a physician active with the Medical Board of California, including continuing education requirements.[10][11]. 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. Several times last year, Burry predicted a stock market crash by betting that inflation would not give way. 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Grapevine, TX 76051. We have concerns regarding capital management at . What does this mean? Nothing on this website constitutes, or is meant to constitute, advice of any kind. Company profile page for Scion Asset Management LLC including stock price, company news, press releases, executives, board members, and contact information With respect to such information, investor.com cannot and does not independently verify, audit, validate, assess or guarantee the adequacy, accuracy, or completeness of such information; such information is not included or otherwise incorporated within investor.com's Trust Score algorithm or review process. Questions to ask "[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. [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. Michael James Burry (/bri/; born June 19, 1971)[2] is an American investor, hedge fund manager, and physician. [18] He faulted federal regulators for failing to listen to warnings from outside a closed circle of advisors. This page was last edited on 1 February 2023, at 20:47 (UTC). U.S Market Open - Market Closes in 49M 55S. They manage Questions to ask Red rows indicate closed positions. The Scion Asset Management manager revealed the purchase of seven new stocks in the last quarter. Our searchable database of U.S.-based financial advisors includes more than 17,000 firms across the country. 1,517,790 additional shares. 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. 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. assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents. Scion Asset Management Q4 '22 Top Holdings (Author Spreadsheet 13F Data) Largely unrelated to one's personal attitude or opinion of Michael Burry, there are few 13F's in the industry that are more . Questions to ask In his words: All my stock picking is 100% based on the concept of a margin of safety.. Scion Asset Management General Information. Portfolio manager(s) are listed as Michael Burry. [30], Burry is married, with children, and was living in Saratoga, California in 2010. I was damned sure I was going to pay it off. SCION ASSET MANAGEMENT, LLC ( CRD # 167772/SEC#:801-113529 ) The adviser's REGISTRATION status is listed below. The firm's website is not secure by modern internet standards. For the most up-to-date information, please view the applicable SEC and FINRA reports above. Scion Asset Management, LLC operates as an investment firm. Thank you for your interest in the U.S. Securities and Exchange Commission. 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. See how we calculate 13F filing performance here. Michael Burry is likely betting on Wolverine as a distressed equity play, as the companys sales are still more than twice its current market cap. Perform physically demanding work to maintain the asset, and other property features to minimize liability concerns. 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 . [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". ; Text is available under the Creative Commons Attribution-ShareAlike License 3.0; additional terms may . 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. 340.15% 5-Year Performance. Investor.com relies on regulatory data from the SEC to rate and review financial advisor firms. To see the historical data of Scion Asset Management's portfolio holdings please click on the "2022 Q4" dropdown menu and select the date. Demand for the companys products has remained robust lately, but inflationary pressures on the expenses side of the income statement have suppressed profitability severely. This typically occurs when firms manage mutual funds or hedge funds alongside smaller retail accounts. What does this mean? Unlike HTTPS connections, HTTP connections are not encrypted. He previously owned shares earlier this year but sold out in the second quarter per his latest 13F filing as of June 30th. Here's what investors need to know about Michael Burry's long positions. . The turnover rate is 70%. Hedge funds are required to report only their long positions, not their short positions. With GME then traded around $4, Burry disclosed he'd previously sent GME's board several letters recommending an aggressive share buyback. In fact, Dr. Burry had showcased such great stock-picking skills that he drew the interest of companies such as Vanguard, White Mountains Insurance Group, and renowned investors such as Joel Greenblatt. 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. These conflicts can negatively impact clients via hidden fees and overall higher costs. 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 . Scion Asset Management: Michael Burry: 22.59%: $46538000: 9: Top Holdings Largest Trades Portfolio Structure Sector Allocation Performance History. Firm or a related person trades securities for themselves that they also recommend to their clients. Scion Asset Management: Michael Burry: 22.59%: $46538000: 9: Top Holdings Largest Trades Portfolio Structure Sector Allocation Performance History. Bidens orders, which directed the attorney general not to renew Justice Department contracts with privately operated criminal detention facilities. [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. Here's what investors need to know about Michael Burry's long positions. 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. Researcher and operations manager at DM Martins Research. John Rogers - Ariel Appreciation Fund Updated 11 Jan 2023. So is Burry less bearish on the U.S. economy than he was last year? Any data inaccuracies, please contact our team. Our system found no disciplinary alerts. And JD.com is in a similar situation, being 57% below its peak in February 2021. There are 3 companies that go by the name of Scion Asset Management, LLC. Note: 13F filing performance is different than fund performance. [9] His son was diagnosed with Asperger syndrome, and Burry believes he himself has Asperger syndrome after reading about the disorder. Questions to ask JD.com, Inc. (US:JD) 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. Quickly find out what the most recently closed or increased positions are. 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. 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. What does this mean and why is it important? EXHIBIT C. July 28, 2019. financing, asset management, . Firm is affiliated with an insurance company or agent who may be motivated to insure clients with products that generate high sales commissions when lower cost alternatives may exist. Scion Asset Management, registered in 2018, serves 2 state(s) with a licensed staff of 4 advisors. Questions to ask Updated 05 Jan 2023. February 17, 2023. Most recent portfolio value is calculated to be $ 46,536,925 USD. Financial plans and investment portfolios are always unique to the client's personal financial situation. 1001 and 1030). Financial planning services can include tax planning, estate planning, retirement planning, or life-based event planning such as saving for college, getting married, purchasing a home, paying down debt, or planning an inheritance. 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. Note: We do not offer technical support for developing or debugging scripted downloading processes. A quarter of the portfolio is made up of consumer discretionary companies. 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. 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. What does this mean and why is it important? 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. We use the change in the portfolio allocation because this is the most meaningful metric. Michael Burry is an American investor, and hedge fund manager. 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. 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. 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. And we could be headed for another recession. The Board of Directors. 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). [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. Scion Asset Management's Portfolio - All 9 Public Equity Investments. In early January, he posted to his Twitter account that inflation had "peaked," but that this would not be the last peak of the cycle. in 2008. The current portfolio value is calculated to be $47.00 Mil. Address: 20665 4th Street Suite 201. Scion Asset Management currently serves clients in the following states: CA, TN. has disclosed 9 total holdings in their latest SEC filings. He has warned a severe recession on several occasions over the last year. Limited offerings: Scion Asset Management isnt an advisory firm as much as it is an asset management company. Relative to the previous quarter there was a little reshuffling of his holdings. Sure Dividend compiles the following stock market databases and updates them monthly: Thanks for reading this article. Steven Romick - FPA Crescent Fund Updated 12 Jan 2023. What does this mean? 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. What does this mean and why is it important? Black Knight is a new holding for Scion Asset Management, initiated in its most recent quarterly filings. For instance, research has shown that mutual funds that use incentive fees take on more risk than funds that do not, and tend to double down and increase their risk following a poor performance. Lets not forget that the student debt problem is built on a foundation of terrible major choices, Burry, 51, tweeted on Tuesday. For more information, contact opendata@sec.gov. 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. The largest investments include Geo and Qurate Retail Inc, together worth $25.6 million. 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. 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. Questions to ask I was damned sure I was going to pay it off.. Scion Asset Management, LLC's top holdings are 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. As a consumer advocacy project, investor.com does not charge any licensing fees for earned state accolade badges. "[6] Burry was able to achieve these returns partly by shorting overvalued tech stocks at the peak of the internet bubble. What conflicts do I need to be made aware of? After more than two years, on February 14, 2019, Scion Asset Management filed another 13F, showing Burry to hold numerous large-cap stocks and $103,528,000 13F assets under management, just above the threshold for filing. Thus, be mindful and conduct your own research before allocating your hard-earned money to any of these names. What does this mean? Description. (Disclaimers: this is not investment advice. On the other hand, small-cap stocks make up only approximately 0.1% of the portfolio. On this Wikipedia the language links are at the top of the page across from the article title. "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 fund focuses on investments in the United States as He has Rusyn ancestry. 1-Year Performance. Top 50 Scion Asset Management Holdings . 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. Terms of Use | Disclaimers | Privacy Policy. What does this mean? . 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. 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. As a Certified B Corporation, our focus is simple: people before profits. Dr. Burry 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. 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. The Software Solutions segment provides software and hosting solutions comprising MSP, a SaaS application platform for mortgages, home equity loans, and lines of credit. 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. Scion Asset Management, LLC is a private investment firm founded and led by Dr. Michael J. Burry In the most recent 13F filing, Scion Asset Management revealed that it had opened a new position in When I left residency at Stanford to gamble my future on what was to become, I had well into six figures of educational debt. The Scion Group announced the addition of 32 high-quality assets and approximately 20,000 beds to its portfolio of student housing communities. The companys operating income can be divided into three segments: US Secure Services, Electronic Monitoring and Supervision Services, Reentry Services, and International Services. 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. 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. How do these benefits affect the firms selection of a broker-dealer partner? Upgrade to unlock premium data and export to Excel . , 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. Published on February 27th, 2023 by Nikolaos Sismanis. By visiting these sites, you are subject to their terms of use (IAPD, BrokerCheck).

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