What does this mean? 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. According to author Michael Lewis, "in his first full year, 2001, the S&P 500 fell 11.88%. The Scion Asset Management office and employees reside in Saratoga, California. Finally, the Loss Mitigation segment develops solutions that support retention and liquidation workouts. As a financial advisory firm, Scion Asset Management can provide a variety of financial planning services for Americans. 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. Scion Asset Management Investor Profile: Portfolio & Exits | PitchBook The Scion Asset Management founder studied at UCLA and earned his medical degree at Vanderbilt University before starting and eventually abandoning a residency at Stanford University . The hedge fund exited positions including Alphabet Inc. and Facebook . This form was filed on 2023-02-14 for the reporting period 2022-12-31. Michael Burry is head of Scion Asset Management. Thank you for your interest in the U.S. Securities and Exchange Commission. These filings are called "notice filings". SCION ASSET MANAGEMENT, LLC is a financial services company based out of 20400 STEVENS CREEK BOULEVARD, CUPERTINO, California, United States. Green rows indicate new positions. What does this mean and why is this important? He had already built a reputation as an investor at the time by exhibiting success in value investing. Mailing Address 20665 4TH STREET SUITE 201 SARATOGA CA 95070. Business Address 20665 4TH STREET SUITE 201 SARATOGA CA 95070 408-441-8400. Furthermore, our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data. The largest investments include Geo and Qurate Retail Inc, together worth $25.6 million. Scion Asset Management Portfolio | Michael Burry 13F Holdings & Trades There are currently 6 companies in Mr. Burrys portfolio. Portfolio value: $46M+ Period: 2022 Q4. "[6] Burry was able to achieve these returns partly by shorting overvalued tech stocks at the peak of the internet bubble. [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]. 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. Portfolio Gain +257.56%. Researcher and operations manager at DM Martins Research. Cassandra B.C. (@michaeljburry) / Twitter Home - sciens water 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 . Scion has $638,901,404 assets under management (AUM). 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. 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. tips_and_updates Financial Advisor Education. What does this mean? Founded in 2013, Scion Asset Management is a multi-strategy hedge fund manager based in Saratoga, California. 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's public equity portfolio is heavily concentrated. Questions to ask Scion Asset Management: Michael Burry: 22.59%: $46538000: 9: Top Holdings Largest Trades Portfolio Structure Sector Allocation Performance History. Additionally, the company has been utilizing loopholes through third parties, which essentially still allows it to deal with federal agencies. Will anyone that was involved be involved with my accounts in any capacity? The largest investments include Geo and Qurate Retail Inc, together worth $25.6 million. Changes can be due to trades or changes in share prices. More than 90% of the beds are located in the US. The Scion Asset Management founder studied at UCLA and earned his medical degree at Vanderbilt University before starting and eventually abandoning a residency at Stanford University Medical Center. What does this mean and why is it important? 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. 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. He then left to start his own hedge fund. What does this mean? Five years later in 2013 Michael Burry reopened his fund with slightly changed name Scion Asset Management. Does your firm perform side-by-side management? 1-Year Performance. 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. 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. Michael Burry Portfolio (2022 Q4) - Scion Asset Management - Valuesider 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. 'Big Short' Michael Burry Invested Twice in Bed Bath & Beyond Stock Maintenance Technician Job in Minneota, MN at The Scion Group Will any of my assets be invested in those products? I cover the recent 13F filings and the logic behind Michael Burry's po. 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. 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. Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens. GameStop Stock: What the SEC Says About Direct Registration, Alibaba Group Holding Limited American Depositary Shares each representing eight. Scion Asset Management also says it works to provide clients with a diverse mix of portfolio opportunities it believes will increase their chances of investment success. Point72 Asset Management . This could be detrimental to a client during down markets. Scion Asset Management a Portfolio Activity as reported in the most recent 13F form published on Dec 31, 2022. [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. What does this mean and why is this important? 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He only looks for their undervalued elements, regardless of their sector and class. The GEO Group is a specialty REIT that owns, operates, and manages correctional, detention, and reentry facilities in the US, UK, South Africa, and Australia. All rights reserved. Here's what investors need to know about Michael Burry's long positions. A self-regulatory organization or commodities exchange has found firm or an advisory affiliate to have been involved in a violation of its rules. Alibaba is a new holding for Scion Asset Management, initiated in its most recent quarterly filings. Grapevine, TX 76051. Financial professionals should disclose all positions they hold (or have sold short) that they will also be recommending to their clients. A quarter of the portfolio is made up of consumer discretionary companies. Scion Asset Management LLC - Company Profile and News What does this mean? , Michael Burry of Scion Asset Management. The Scion Asset Management manager revealed the purchase of seven new stocks in the last quarter. Does your firm offer mutual funds that have 12b-1 fees? , Data is sourced from 13D/13G, 13F, and N-Q filings. 340.15% 5-Year Performance. SCION ASSET MANAGEMENT LLC Institutional Portfolio | Nasdaq 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. SCION ASSET MANAGEMENT, LLC Top 13F Holdings - WhaleWisdom.com He has warned a severe recession on several occasions over the last year. 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 . 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. The GEO Group: Michael Burry Is Teaching The Market A Lesson - SeekingAlpha This could also limit the number and diversity of investment options available and may impact their transferability. Will His AI Plans Be Any Different? Qurate Retail Inc and bought 5,000,000 shares worth $10.1 million. CALIFORNIA LIMITED-LIABILITY COMPANY - OUT OF STATE. As of 09/30/2022, below is a summary of the Scion Asset Management LLC top holdings by largest position size, as . While Scion Asset Management advises clients across a variety of portfolio sizes, the average client balance is currently $72.9 million. 100.0% Firm or an advisory affiliate has previously had their authorization to act as an attorney, accountant, or federal contractor revoked or suspended. 12.25% 3-Year Performance. Wolverine World Wide is a new holding for Scion Asset Management, initiated in its most recent quarterly filings. 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. When? Rather, he pays attention to off-balance sheet metrics and naturaly, free cash flow. For example, front-running is when a financial professional buys or sell securities ahead of their client. 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. However, Dr. Burry has a much broader track record in the investing world. Questions to ask A domestic or foreign court has previously found firm or an advisory affiliate was involved in a violation of investment-related statutes or regulations. What does this mean and why is it important? And we could be headed for another recession. 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". Performance. The total portfolio value may be much higher due to cash 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. Michael Burry of Scion Asset Management liquidated his entire investment portfolio in the second-quarter, according to the latest 13F holdings report. The Software Solutions segment provides software and hosting solutions comprising MSP, a SaaS application platform for mortgages, home equity loans, and lines of credit. Please send any feedback, corrections, or questions to support@suredividend.com. Michael Burry's Scion hedge fund disclosed holdings for first time in 2