Charlie Munger - Daily Journal Corp. Follow Tweet. This arrangement creates a conflict where the firm and its representatives may be motivated to insure clients with products, including annuities and life insurance, that generate high sales commissions when lower-cost alternatives may exist. [6] Scion Capital ultimately recorded returns of 489.34% (net of fees and expenses) between its November 1, 2000 inception and June 2008. Disclaimer: It is our organization's primary mission to provide reviews, commentary, and analysis that are unbiased and objective. [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]. [9] His son was diagnosed with Asperger syndrome, and Burry believes he himself has Asperger syndrome after reading about the disorder. What percentage of income does your firm receive from fees versus commissions? The fund only has four clients. Eventually Burry closed his fund and retired. For the most up-to-date information, please view the applicable SEC and FINRA reports above. Michael Burry is an American investor, and hedge fund manager. [30], Burry is married, with children, and was living in Saratoga, California in 2010. That would put the U.S. in a recession under "any definition.". Fintel is a registered trademark. 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. 2023 Reink Media Group LLC. [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. Questions to ask Furthermore, our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data. At the age of two he lost his left eye to retinoblastoma[3] and has had a prosthetic eye ever since. We've received your submission. Top 50 Scion Asset Management Holdings . The portfolio numbers only nine equities, with The GEO Group accounting for 20.4% of its holdings. Shares of Chinese e-commerce behemoth Alibaba have remained under pressure despite the company generating rather robust revenues given the ongoing trading environment. Limited offerings: Scion Asset Management isnt an advisory firm as much as it is an asset management company. GameStop Corp. 625 Westport Parkway. documented the history and events leading up to his contrarian but hugely successful bet against the real estate market 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. 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. More than 90% of the beds are located in the US. JD.com, Inc. (US:JD) 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. He named it after Terry Brooks' The Scions of Shannara (1990), one of his favorite novels. The largest investments include Geo and Qurate Retail Inc, together worth $25.6 million. What does this mean? Scion Asset Managements portfolio is diversified across 5 sectors. What conflicts do I need to be made aware of? Scion Asset Management, LLC Holdings. The author may be long one or more stocks mentioned in this report. When I left residency at Stanford to gamble my future on what was to become, I had well into six figures of educational debt. 1001 and 1030). Scion Asset Management General Information. This page was last edited on 1 February 2023, at 20:47 (UTC). [19] He has focused much of his attention on investing in water, gold, and farm land. These conflicts can negatively impact clients via hidden fees and overall higher costs. Details on the strike price of the puts, their value and whether they were part of a broader trade were not available. Unauthorized attempts to upload information and/or change information on any portion of this site are strictly prohibited and are subject to prosecution under the Computer Fraud and Abuse Act of 1986 and the National Information Infrastructure Protection Act of 1996 (see Title 18 U.S.C. 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 . . Saratoga, CA 95070, 30 Burton Hills Blvd Suite 315, Nashville, Tennessee 37215. What does this mean? Why Didn't the Fed? By visiting these sites, you are subject to their terms of use (IAPD, BrokerCheck). Demand for the companys products has remained robust lately, but inflationary pressures on the expenses side of the income statement have suppressed profitability severely. Address: 20665 4th Street Suite 201. He had already built a reputation as an investor at the time by exhibiting success in value investing. Additionally, the company has been utilizing loopholes through third parties, which essentially still allows it to deal with federal agencies. A quarter of the portfolio is made up of consumer discretionary companies. It is now the funds fifth-largest holding, accounting for 10.0% of its holdings. Our team combines decades of experience in all aspects of campus housing: residential life administration, real estate finance, program and asset management, plus practical knowledge from the ownership . Wolverine World Wide, Inc. (US:WWW) Read through our introductory course to financial advisors. How does your firm mitigate them? Here's what investors need to know about Michael Burry's long positions. Scion Asset Management is headquartered in Saratoga, California. For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. When firms are dual-registered as broker-dealers, they may be subject to compensation-related conflicts of interest, including revenue sharing from mutual funds and the sale of proprietary investment products. While Scion Asset Management advises clients across a variety of portfolio sizes, the average client balance is currently $72.9 million. What does this mean and why is it important? No. Justice Brett Kavanaugh suggested it was problematic that Biden took executive action even though Congress has not passed legislation related to student debt. Your request has been identified as part of a network of automated tools outside of the acceptable policy and will be managed until action is taken to declare your traffic. Burry is betting big on the discretionary and industrial sectors, which generally benefit from economic growth. Questions to ask Dr. Michael Burry's Scion Asset Management disclosed holdings on Feb. 15 for the first time in over two years. Bruce Berkowitz's: Fairholme Capital Management. Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens. 340.15% 5-Year Performance. But critics have aired various concerns about Bidens plan, such as whether his executive order oversteps the presidents authority. , During its latest 13F filing, Scion Asset Management executed the following notable portfolio adjustments: Scion Asset Managements public equity portfolio is heavily concentrated. Advertiser Disclosure: StockBrokers.com helps investors across the globe by spending over 1,000 hours each year testing and researching online brokers. Scion Asset Management. It is now the funds second-largest holding, accounting for 18.3% of its holdings. . Aside from potential increases to the cost of education, Burry did not elaborate on what terrible consequences he foresees for the country. , How do we make money? 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. Specifically, the company repurchased nearly $9.7 billion worth of stock last year. You can download an Excel spreadsheet with metrics that matter of Scion Asset Managements current 13F equity holdings below: Click here to instantly download your free spreadsheet of all Scion Asset Management / Michael Burry holdings now, along with important investing metrics. Thank you for your interest in the U.S. Securities and Exchange Commission. 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. A self-regulatory organization or commodities exchange has found firm or an advisory affiliate to have been involved in a violation of its rules. Burry's bearish thesis is that the American economy will go into recession in 2023 regardless of how we define the term. 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. Questions to ask There are currently 6 companies in Mr. Burrys portfolio. What does this mean? It would appear that Burry is betting that China will rebound. The investing legend was one of the first people to recognize the massive risk in the pre-2007 sub-prime real estate market the then unknown money manager bet over $1 billion that sub-prime would implode. All rights reserved. What does this mean? Yes or decreased its share price by approximately 0.1%, Geo total 2,019,150 shares worth $15.5 million. Furthermore, Burry has predicted a vicious cycle in which the Fed raises interest rates to a level not seen since the 2008 crisis. Investors following the companys 13F filings over the last 3 years (from mid-February 2020 through mid-February 2023) would have generated annualized total returns of 51.4%. Chase Coleman's: Tiger Global Management. 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. Michael Burry's hedge fund's other holdings consist of: In general, Michael Burry's investment philosophy is based on fundamental analysis. 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. Regulatory disclosures state that firm sells proprietary investments and products. 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? The GEO Group Inc (US:GEO) Please send any feedback, corrections, or questions to support@suredividend.com. Ranked #44 out of 483 Hedge Fund Managers. 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. He had already developed a reputation as an investor by demonstrating success in value investing, which he wrote about on message boards on the stock discussion site Silicon Investor beginning in 1996. Relative to the previous quarter there was a little reshuffling of his holdings. 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. 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. We have concerns regarding capital management at . Description. [29] During the second quarter of 2021, he has reported to hold puts on almost 31 million dollars on the ARKK ETF innovation index managed by Ark Invest. SkyWest, Inc. (US:SKYW) What does this mean? Since Jun 2013. Scion Asset Management 13F annual report. What does this mean? Firms having met these requirements may further elect to participate in the investor.com Certification program for an annual fee paid to investor.com. While Scion Asset Managements portfolio lacks diversification, its holdings come with characteristics that reflect Dr. Burrys principles. EXHIBIT C. July 28, 2019. Changes can be due to trades or changes in share prices. A domestic or foreign court has previously found firm or an advisory affiliate was involved in a violation of investment-related statutes or regulations. Qurate Retail Inc makes up [9][31][6], He is a fan of heavy metal music, including bands such as Obituary, Lamb of God, Amon Amarth, Slipknot, King Diamond and Pantera. Will any of my assets be invested in those products? The impact to a portfolio due to this purchase was 0.65%. 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 . <style> body { -ms-overflow-style: scrollbar; overflow-y: scroll; overscroll-behavior-y: none; } .errorContainer { background-color: #FFF; color: #0F1419; max-width . Scion Asset Management a Portfolio Activity as reported in the most recent 13F form published on Dec 31, 2022. [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. Specifically, The GEO Group has suspended its dividends, which has allowed the company to deleverage rapidly. In addition, the fund holds 5,000,000 shares of . The next year, 2003, the stock market finally turned around and rose 28.69%, but Burry beat it again, with returns of 50%. Specifically, his picks were published on message boards on the stock discussion site Silicon Investor back in 1996, with their returns being outstanding! Thus, be mindful and conduct your own research before allocating your hard-earned money to any of these names. Burry has a strictly traditional understanding of value. Scion Asset Management, LLC (Filer) CIK: 0001649339 (see all company filings) IRS No. While partners may pay to provide offers or be featured, e.g. Burry even ended up selling 99% of his positions in 2022, including Alphabet (GOOGL) - Get Free Report, Warner Bros Discovery (WBD) - Get Free Report, and Meta (META) - Get Free Report, leaving only his position in GEO Group. Any data inaccuracies, please contact our team. Portfolio Gain +257.56%. Does your firm offer mutual funds that have 12b-1 fees? Please see our General Disclaimers for more information. Burry predicted, "Fed will cut and government will stimulate. How does your firm approach insurance sales? For comparison, the S&P 500 ETF (SPY) generated annualized total returns of 7.5% over the same time period. CALIFORNIA LIMITED-LIABILITY COMPANY - OUT OF STATE. While StockBrokers.com has all data verified by industry participants, it can vary from time to time. Does the firm offer products that have performance-based fees, or does it accept performance-based fees? Neither the SEC nor FINRA tracks portfolio performance metrics for the financial planning industry. Also, the article may contain affiliate links. 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. approximately 0.1% of the total holdings value. Ultimately, Burrys analysis proved right. 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. Based in Saratoga, Calif., Scion has just six employees, two of whom . 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. Note: We do not offer technical support for developing or debugging scripted downloading processes. Does your firm perform side-by-side management? Firm or an advisory affiliate was previously found to have made false statements or omissions by a self-regulatory organization. Unlike HTTPS connections, HTTP connections are not encrypted. 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 is likely betting on Wolverine as a distressed equity play, as the companys sales are still more than twice its current market cap. Questions to ask 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). Profitability has also been weak. The advisory also believes in using fundamental analysis methods to assess . 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. 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 feels strongly about Neophotonics Corp and that is the reason they have added about 300000 shares of the firm to their fund. Relative to the number of outstanding shares of Geo, Scion Asset Management owns more than approximately 0.1% of the company. Relative to the number of outstanding shares of Geo, Scion Asset Management owns more than approximately 0.1% of the company. Common Stock (US:US19247G1076) 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. Geo dropped approximately 0.1% in the past year. The average market cap of the portfolio companies is close to $2.02 billion. Firm or one of its employees previously has been subject to a suspension or expulsion or other restriction of activities by a Self-Regulating Organization or commodities exchange. . has disclosed 9 total holdings in their latest SEC filings. This value is significant in that it is the last known price at which the security was still held. As a Certified B Corporation, our focus is simple: people before profits. Scion Asset Management's public equity portfolio is heavily concentrated. With GME then traded around $4, Burry disclosed he'd previously sent GME's board several letters recommending an aggressive share buyback. 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.
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