scion asset management

If you require advice in relation to any financial matter you should consult an appropriate professional. assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents. The advisory also believes in using fundamental analysis methods to assess . What does this mean? And we could be headed for another recession. 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. Please declare your traffic by updating your user agent to include company specific information. Wolverine World Wide, Inc. (US:WWW) For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. WRITE REVIEW. 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. Burry is betting big on the discretionary and industrial sectors, which generally benefit from economic growth. What does this mean? 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. The Servicing Digital segment offers web and mobile solutions for consumers that deliver easy access to customized, timely information about their mortgages. As of 09/30/2022, below is a summary of the Scion Asset Management LLC top holdings by largest position size, as . 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. Several times last year, Burry predicted a stock market crash by betting that inflation would not give way. 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. Additionally, the company has been utilizing loopholes through third parties, which essentially still allows it to deal with federal agencies. [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. To see the historical data of Scion Asset Management's portfolio holdings please click on the "2022 Q4" dropdown menu and select the date. What does this mean? 66.7% of the portfolio companies Investors profit from puts when the . 1001 and 1030). Questions to ask Here you can find the latest trades based on Burry's 13F filings and insider trades. So is Burry less bearish on the U.S. economy than he was last year? Michael James Burry (/bri/; born June 19, 1971)[2] is an American investor, hedge fund manager, and physician. Execute maintenance objectives and daily assignments with the Facilities Supervisor. Scion Asset Management, LLC initiated holding in Lumen Technologies Inc. How does your firm mitigate them? The next year, 2003, the stock market finally turned around and rose 28.69%, but Burry beat it again, with returns of 50%. On this Wikipedia the language links are at the top of the page across from the article title. *SEC data last verified February 17, 2023. 18951. For further detail, see our articles on different types of advisors and financial advisor services. While this can be seen as "eating your own cooking," there are conflicts that may arise. Questions to ask Qurate Retail Inc and bought 5,000,000 shares worth $10.1 million. Alibaba is a new holding for Scion Asset Management, initiated in its most recent quarterly filings. All requests for updated information should also be reported directly to the SEC and/or FINRA. According to author Michael Lewis, "in his first full year, 2001, the S&P 500 fell 11.88%. Financial plans and investment portfolios are always unique to the client's personal financial situation. Does your firm perform side-by-side management? Firms that earn a 4.5 or 5 star rating are also eligible to receive the "Trusted by investor.com" badge. 12.25% 3-Year Performance. Will anyone that was involved be involved with my accounts in any capacity? Particularly, in 2005, Dr. Burry started to concentrate on the subprime market. By using this site, you are agreeing to security monitoring and auditing. CALIFORNIA LIMITED-LIABILITY COMPANY - OUT OF STATE. EXHIBIT C. July 28, 2019. 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. 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. Follow Tweet. The portfolio's exposure to China is also thought-provoking. GameStop Stock: What the SEC Says About Direct Registration, Alibaba Group Holding Limited American Depositary Shares each representing eight. 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. "[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. 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. The conservative-majority Supreme Court appeared skeptical of Bidens plan during hearings this week, raising doubts about the likelihood it will receive final approval. What does this mean and why is it important? 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. Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. 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. Verition Fund Management LLC increased its holdings in shares of ScION Tech Growth II (NASDAQ:SCOB - Get Rating) by 153.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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. Address: 20665 4th Street Suite 201. Scion Asset Management, LLC is a private investment firm founded and led by Dr. Michael J. Burry This relationship may introduce bias where a firm or related person recommends certain securities with which they are affiliated, rather than others that may have higher returns. Written by investor.com. Musk Made a Mess at Twitter. Michael Burry's hedge fund Scion Asset Management is based in Saratoga, California and manages capital for 5 clients. 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. These filings are called "notice filings". He quickly earned extraordinary profits for his investors. Is your firm affiliated with a law firm in any capacity? What does this mean and why is it important? Scion's current portfolio consists of nearly 82,000 beds of student accommodations in 126 communities, serving 76 college and university markets across 33 U.S. states. The headquarters of Scion Asset Management is 20665 4th Street, Suite 201. The investment fund also strengthened its position in Geo by buying Saratoga, CA 95070, 30 Burton Hills Blvd Suite 315, Nashville, Tennessee 37215. He also urged investors to liquidate their stocks. 1,517,790 additional shares. When he was younger, he noticed that it took him a lot of energy to look people in the eye, and said, "If I am looking at you, that's the one time I know I won't be listening to you". Black Knight Inc (US:BKI) Five years later in 2013 Michael Burry reopened his fund with slightly changed name Scion Asset Management. Portfolio value: $46M+ Period: 2022 Q4. [6] Scion Capital ultimately recorded returns of 489.34% (net of fees and expenses) between its November 1, 2000 inception and June 2008. Michael Burry's Scion Asset Management jettisoned 11 US equities in the second quarter and ended the period with just one. At 06/30/2022: $3,309. Stocks with a size of more than $10 billion in market cap make up How do we make money? , The portfolio is made up of a total of 102 facilities, including 82,000 beds. This means they effectively own 0.6% of the company. We use the change in the portfolio allocation because this is the most meaningful metric. 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." [18] He faulted federal regulators for failing to listen to warnings from outside a closed circle of advisors. Apply for Trusted badge. We reserve the right to block IP addresses that submit excessive requests. SkyWest, Inc. (US:SKYW) Based in Saratoga, Calif., Scion has just six employees, two of whom . 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. Company profile page for Scion Asset Management LLC including stock price, company news, press releases, executives, board members, and contact information Bill Ackman's: Pershing Square Capital 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. 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, LLC ( CRD # 167772/SEC#:801-113529 ) The adviser's REGISTRATION status is listed below. 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. 1-Year Performance. Red rows indicate closed positions. This video discusses the update to Michael Burry's portfolio (Scion Asset Management). Scion Asset Management's public equity portfolio is heavily concentrated. This is a low margin business in the first place, and so despite the company posting record revenues last year, it saw a decline in earnings. Dr. Michael Burry of Scion Asset Management and of The Big Short fame has recently re-surfaced in shares of Gamestop (GME). Saratoga, CA 95070. What does this mean? Why has Burry, who is bearish on the . See the articles below for analysis on other major investment firms/asset managers/gurus: If you are interested in finding more high-quality dividend growth stocks suitable for long-term investment, the following Sure Dividend databases will be useful: The major domestic stock market indices are another solid resource for finding investment ideas. Furthermore, our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data. As a result, we do not support personal reviews on the site. During its latest 13F filing, Scion Asset Management executed the following notable portfolio adjustments: Scion Asset Managements public equity portfolio is heavily concentrated. Furthermore, Burry has predicted a vicious cycle in which the Fed raises interest rates to a level not seen since the 2008 crisis. 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. <style> body { -ms-overflow-style: scrollbar; overflow-y: scroll; overscroll-behavior-y: none; } .errorContainer { background-color: #FFF; color: #0F1419; max-width . What does this mean and why is this important? The fund's top five holdings, which we analyze below, account for 72.2% of its total public . The Software Solutions segment provides software and hosting solutions comprising MSP, a SaaS application platform for mortgages, home equity loans, and lines of credit. Scion Asset Management is a small firm focused on serving institutional investors, and pooled investment vehicles in particular. While Scion Asset Managements portfolio lacks diversification, its holdings come with characteristics that reflect Dr. Burrys principles. 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. 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. 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. The firm doesn't work with individual investors, although individuals may invest in the funds for which it provides investment advisory services. [30], Burry is married, with children, and was living in Saratoga, California in 2010. Dr. Burry trimmed Scions position in The GEO Group by 47%, with the fund now owning around 0.85% of the companys outstanding shares. For more information, please see the SECs Web Site Privacy and Security Policy. Also, the article may contain affiliate links. Questions to ask This form was filed on 2023-02-14 for the reporting period 2022-12-31. The president and supporters of his plan argue student loan debt forgiveness will provide much-needed relief to million debt-saddled Americans. [28] In October 2021, after a 100% rise in Tesla's stock value, he revealed he was no longer shorting it. 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. Specifically, the company repurchased nearly $9.7 billion worth of stock last year. Scion Asset Management, LLC has disclosed 9 total holdings in their latest SEC filings. Portfolio 9 Options 0 Performance. These companies are located in Dover DE, Madison WI, and Saratoga CA. We have concerns regarding capital management at . SCION ASSET MANAGEMENT, LLC. Grapevine, TX 76051. In the most recent 13F filing, Scion Asset Management revealed that it had opened a new position in The Scion Asset Management office and employees reside in Saratoga, California. All Scion Asset Management, LLC holdings are listed in the following tables. Alibaba is down 71% from its October 2020 peak. 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. What does this mean? 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. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, This Week in Crypto: Ukraine War, Marathon Digital, FTX.

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