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'[26] In May 2021, it was reported that he held puts on over 800,000 shares of Tesla. The Software Solutions segment provides software and hosting solutions comprising MSP, a SaaS application platform for mortgages, home equity loans, and lines of credit. [17] He subsequently liquidated his company to focus on his personal investments. What does this mean? Charlie Munger - Daily Journal Corp. Lets not forget that the student debt problem is built on a foundation of terrible major choices, Burry, 51, tweeted on Tuesday. Operating as an online business, this site may be compensated through third party advertisers. As of 7th November 2022, Scion Asset Management's top holding is 2,019,150 shares of Geo currently worth over $15.5 million and making up 37.6% of the portfolio value. Scion Asset Management 13F annual report. Written by investor.com. decreased its share price by approximately 0.1%, Geo total 2,019,150 shares worth $15.5 million. Relative to the number of outstanding shares of Geo, Scion Asset Management owns more than approximately 0.1% of the company. The two most similar investment funds to Scion Asset Management are Centurylink Investment Management Co and Secrest Blakey & Associates. The current portfolio value is calculated to be $47.00 Mil. 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. Firm can legally elect to accept commissions for their investment advisory services. Saratoga, CA 95070, 30 Burton Hills Blvd Suite 315, Nashville, Tennessee 37215. Michael Burry's hedge fund's other holdings consist of: In general, Michael Burry's investment philosophy is based on fundamental analysis. What conflicts do I need to be made aware of? He has said more than once that his investment style is built upon Benjamin Graham and David Dodds 1934 book Security Analysis: "All my stock picking is 100% based on the concept of a margin of safety. SEC Form 13F Filing History. *SEC data last verified February 17, 2023. What does this mean and why is it important? Burry predicted, "Fed will cut and government will stimulate. How does your firm mitigate conflicts that arise from managing accounts with differing fee structures? [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". Advertiser Disclosure: StockBrokers.com helps investors across the globe by spending over 1,000 hours each year testing and researching online brokers. 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. This video discusses the update to Michael Burry's portfolio (Scion Asset Management). All requests for updated information should also be reported directly to the SEC and/or FINRA. [] As a result, the company will soon be able to self-fund its growth and overall operations. The next year, 2003, the stock market finally turned around and rose 28.69%, but Burry beat it again, with returns of 50%. Red rows indicate closed positions. What does this mean? Sciens launched the Sciens Water Opportunities Fund in 2018 to make investments in the U.S. water sector. Does your firm, or anyone associated with the firm, practice as a law firm? Does the firm offer products that have performance-based fees, or does it accept performance-based fees? In addition, the fund holds 5,000,000 shares of . Specifically, the company repurchased nearly $9.7 billion worth of stock last year. Investment adviser firms registered with the SEC may be required to provide to state securities authorities a copy of their Form ADV and any accompanying amendments filed with the SEC. 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. 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 . Scion Asset Management manages $291.7 million and provides investment advisory services for 4 clients (1 advisor/client ratio). Point72 Asset Management . 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. 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. Nevertheless, most stocks in the fund seem to be bearing their fair share of risks. What does this mean? Read through our introductory course to financial advisors. Scion Asset Management, LLC's new positions include 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. While many fund managers and successful investors such as Cathie Wood are talking about their ideas several times a week in the news, Burry is more quiet. Qurate Retail Inc and bought 5,000,000 shares worth $10.1 million. 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. FINRA data last verified February 17, 2023. [23], Burry initiated short position(s) on Tesla before or around early December 2020, according to a now-deleted tweet[24][25] and likely added to his short positions[26][27] after the market cap of Tesla surpassed that of Facebook. Average metrics of all companies in portfolio . He has Rusyn ancestry. The investor's firm, Scion Asset Management, held bearish put options on over 800,000 shares of Elon Musk's . The S&P 500, widely regarded as the benchmark for the US market, returned just under 3%, including dividends over the same period. 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." The hedge fund exited positions including Alphabet Inc. and Facebook . Dr. Michael Burry and his fund Scion Capital were made famous by the movie "The Big Short," which documented the history and events leading up to his contrarian but hugely successful bet against the real estate market in 2008. This website is provided as is without any representations or warranties, express or implied. The impact to a portfolio due to this purchase was 0.65%. This could also limit the number and diversity of investment options available and may impact their transferability. In this episode, we hear how she became a sponge for product design, figured out how to make accessible yet high-end jewelry, and how she even relocated to China for the better part of a year to personally see to her brand's manufacturing. and Top 50 Scion Asset Management Holdings . He then left to start his own hedge fund. CALIFORNIA LIMITED-LIABILITY COMPANY - OUT OF STATE. Sensitive information sent over an HTTP connection can easily be eavesdropped on by third-parties. This makes their stake in Geo total 2,019,150 shares worth $15.5 million. [9] While off duty at night, he worked on his hobby: financial investing. Dr. Michael Burry and his fund Scion Capital were made famous by the movie "The Big Short," which 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. What does this mean and why is this important? What does this mean and why is it important? Michael Burry of Scion Asset Management liquidated his entire investment portfolio in the second-quarter, according to the latest 13F holdings report. And JD.com is in a similar situation, being 57% below its peak in February 2021. are based in the United States. SkyWest, Inc. (US:SKYW) He had already built a reputation as an investor at the time by exhibiting success in value investing. The Scion Asset Management manager revealed the purchase of seven new stocks in the last quarter. 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Here's what investors need to know about Michael Burry's long positions. and 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. Each month, investor.com helps thousands of Americans answer the question, "Can I trust you?". The advisory also believes in using fundamental analysis methods to assess . The portfolio numbers only nine equities, with The GEO Group accounting for 20.4% of its holdings. Firm or an advisory affiliate was previously found to have made false statements or omissions by a self-regulatory organization. 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. Wolverine World Wide designs, produces, and distributes footwear, apparel, and other accessories globally. SCION ASSET MANAGEMENT LLC Institutional Portfolio | Nasdaq. 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. Performance. Questions to ask Firm or a related person trades securities for themselves that they also recommend to their clients. 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. Five years later in 2013 Michael Burry reopened his fund with slightly changed name Scion Asset Management. 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. What does this mean? 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. How does your firm approach insurance sales? 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. Questions to ask Please send any feedback, corrections, or questions to support@suredividend.com. 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. In Michael Burry's current portfolio as of 2022-12-31, the top 5 holdings are The GEO Group Inc (GEO), Black Knight Inc . 20665 4th Street, Suite 201. 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. Scion Asset Management Holdings Heatmap . Will anyone that was involved be involved with my accounts in any capacity? Scion Asset Management is an investment fund managing more than $41.3 million ran by Michael Burry. Founded in 2003, Scion Asset Management, LLC is a private investment firm led by investing guru Dr. Michael J. Burry. Description. To allow for equitable access to all users, SEC reserves the right to limit requests originating from undeclared automated tools. The funds top five holdings, which we analyze below, account for 72.2% of its total public equity exposure. Accordingly, he disregards price-to-earnings ratios to dodge being deceived by a companys stated metrics. What does this mean? 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 . CUPERTINO, Calif.--(BUSINESS WIRE)--On August 16 th, Scion Asset Management sent a letter to the Board of Directors of GameStop Corp. urging the Board to direct the full execution of its March 4 . 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. There are 3 companies that go by the name of Scion Asset Management, LLC. . Bill Ackman's: Pershing Square Capital Management. Also, the article may contain affiliate links. Founded in 2013, Scion Asset Management is a multi-strategy hedge fund manager based in Saratoga, California. 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. 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. The largest investments include Geo and Qurate Retail Inc, together worth $25.6 million. There are currently 6 companies in Mr. Burry's portfolio. 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.