scion asset management scion asset management

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. What does this mean? Co-producer of The Street's financial channels: Apple Maven, Amazon Maven and Wall Street Memes. Relative to the number of outstanding shares of Geo, Scion Asset Management owns more than approximately 0.1% of the company. What does this mean? Questions to ask Scion's required disclosure did not include any "short" position it held in the third quarter, nor does it show . U.S Market Open - Market Closes in 49M 55S. Scion Asset Management, LLC is a private investment firm founded and led by Dr. Michael J. Burry The funds top five holdings, which we analyze below, account for 72.2% of its total public equity exposure. SCION ASSET MANAGEMENT, LLC | 2,358 followers on LinkedIn. Accordingly, he disregards price-to-earnings ratios to dodge being deceived by a companys stated metrics. [] It charges an asset-based management fee that can be as high as 2% per year, while it may also take up to 20% of the value of the appreciation from each clients account. Scion Asset Management, LLC's new positions include 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. Based in Saratoga, Calif., Scion has just six employees, two of whom . 1001 and 1030). In the past 10 years, a domestic or foreign court has issued an injunction against the firm or an advisory affiliate in connection with an investment-related activity. Michael Burry shed light on his bet against Tesla in a regulatory filing on Monday. 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. 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 . The next year, the S&P 500 fell again, by 22.1%, and Scion was up again: 16%. 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. [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]. At the age of two he lost his left eye to retinoblastoma[3] and has had a prosthetic eye ever since. The portfolio is made up of a total of 102 facilities, including 82,000 beds. tips_and_updates Financial Advisor Education. For more information, please see the SECs Web Site Privacy and Security Policy. I cover the recent 13F filings and the logic behind Michael Burry's po. Founded in 2013, Scion Asset Management is a multi-strategy hedge fund manager based in Saratoga, California. 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. Scion Asset Management, LLC initiated holding in Lumen Technologies Inc. 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. For the most up-to-date information, please view the applicable SEC and FINRA reports above. After attending medical school, Dr. Burry left to start his own hedge fund in 2000. Bloomberg via Getty Images. The author may be long one or more stocks mentioned in this report. Charlie Munger - Daily Journal Corp. Based on his analysis of mortgage lending practices utilized in 2003 and 2004, he accurately forecasted that the real estate bubble would come tumbling by 2007. [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. Does your firm recommend securities that it or its affiliates underwrite, or in which it serves as general or managing partner? 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. Fintel is a registered trademark. Relative to the number of outstanding shares of Geo, Scion Asset Management owns more than approximately 0.1% of the company. Why Didn't the Fed? Heejin Kim and Myungshin Cho (29 August 2019). Portfolio 9 Options 0 Performance. We have concerns regarding capital management at . Particularly, in 2005, Dr. Burry started to concentrate on the subprime market. The purchase prices were between $9.72 and $15.36, with an estimated average price of $12.41. Nevertheless, most stocks in the fund seem to be bearing their fair share of risks. Description. It is now the funds second-largest holding, accounting for 18.3% of its holdings. Some detractors have suggested that a cancellation of student debt would further fuel inflation that hit its highest level in decades last year. Firm can legally elect to accept commissions for their investment advisory services. 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. Scion Asset Management's public equity portfolio is heavily concentrated. 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. Scion has $638,901,404 assets under management (AUM). When I left residency at Stanford to gamble my future on what was to become, I had well into six figures of educational debt. EXHIBIT C. July 28, 2019. The holding were 650,000 shares as of 2021-03-31. Firms that earn a 4.5 or 5 star rating are also eligible to receive the "Trusted by investor.com" badge. Dr. Michael Burry of Scion Asset Management and of The Big Short fame has recently re-surfaced in shares of Gamestop (GME). Stocks and cryptocurrency portfolio tracker. Latest Holdings, Performance, AUM (from 13F, 13D). 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. The average market cap of the portfolio companies is close to $2.02 billion. 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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 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. 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 could be detrimental to a client during down markets. "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. 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. 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. [32], Burry was highly critical of the lockdowns during the COVID-19 pandemic in the United States.[33]. The firm's website is not secure by modern internet standards. Burry, whose successful bet against subprime mortgages were famously chronicled in the 2015 film The Big Short, delivered the dire forecast as the Supreme Court hears arguments this week on whether President Biden has the authority to cancel student debt. Burry has amassed more than 1.4 million followers on Twitter, where he frequently tweets and then deletes his predictions about the US economy. 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. Scion Asset Management Holdings Heatmap . 2023 Reink Media Group LLC. So is Burry less bearish on the U.S. economy than he was last year? The two most similar investment funds to Scion Asset Management are Centurylink Investment Management Co and Secrest Blakey & Associates. Firm recommends securities or other investment products to advisory clients in which the firm or a related person has some other proprietary (ownership) interest that isnt related to trading or holding the security or securities themselves personally. Checks take place monthly. Common Stock (US:US19247G1076) 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. The stock is now traded at around $14.430000. On the other hand, small-cap stocks make up only approximately 0.1% of the portfolio. The conservative-majority Supreme Court appeared skeptical of Bidens plan during hearings this week, raising doubts about the likelihood it will receive final approval. Common Stock (US:US19247G1076) Michael Burry of Scion Asset Management liquidated his entire investment portfolio in the second-quarter, according to the latest 13F holdings report. He has warned a severe recession on several occasions over the last year. 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. How does your firm approach insurance sales? For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. Questions to ask 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. Coherent Corp. produces and manufactures, and sells engineered materials, optoelectronic components, and devices internationally. He also urged investors to liquidate their stocks. A quarter of the portfolio is made up of consumer discretionary companies. There are 3 companies that go by the name of Scion Asset Management, LLC. [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. For more information, contact opendata@sec.gov. Burry has a strictly traditional understanding of value. 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. What percentage of income does your firm receive from fees versus commissions? Does your firm, or anyone associated with the firm, practice as a law firm? When operating in this dual capacity, advisors may be incentivized to implement plans as an attorney that could drive higher revenue for themselves as investment advisors. 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. 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. 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. 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. The collapse of the real estate market in 2008 was a key event leading to the global financial crisis. On this Wikipedia the language links are at the top of the page across from the article title. How do these benefits affect the firms selection of a broker-dealer partner? Published on February 27th, 2023 by Nikolaos Sismanis. of the fund's Consumer Discretionary sector allocation and has decreased its share price by approximately 0.1% in the past year. In total, Scion Asset Management manages $291.7 million in assets. What does this mean and why is this important? Founded in 2003, Scion Asset Management, LLC is a private investment firm led by investing guru Dr. Michael J. Burry. Scion Asset Management, registered in 2018, serves 2 state (s) with a licensed staff of 4 advisors. approximately 0.1% of the total holdings value. Firm or a related person trades securities for themselves that they also recommend to their clients. And we could be headed for another recession. He has stated more than once that his investment style is based on Benjamin Graham and David Dodds 1934 book Security Analysis. Wolverine World Wide designs, produces, and distributes footwear, apparel, and other accessories globally. 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. Upgrade to unlock premium data and export to Excel . 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. Michael James Burry (/bri/; born June 19, 1971)[2] is an American investor, hedge fund manager, and physician. 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. Firms having met these requirements may further elect to participate in the investor.com Certification program for an annual fee paid to investor.com. To allow for equitable access to all users, SEC reserves the right to limit requests originating from undeclared automated tools. While StockBrokers.com has all data verified by industry participants, it can vary from time to time. Michael Burry's hedge fund Scion Asset Management is based in Saratoga, California and manages capital for 5 clients. His solemn investing philosophy has resulted in outsized market returns over the past few years, beating the S&P 500 by a wide margin. 347 Followers. Company metrics from any one time period can be misleading based on the underlying state of the economy and macros that may benefit or harm the company at a given point in time. 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. [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. After medical school, Burry worked as a Stanford Hospital neurology resident, then a Stanford Hospital pathology resident. Strategies arent specified: There isnt a lot of specificity provided . [19] He has focused much of his attention on investing in water, gold, and farm land. Burry was born and grew up in San Jose, California. compensation-related conflicts of interest, Types of Financial Advisors and How to Choose, What's a Fiduciary (and Why It Matters So Much). 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. What does this mean? 340.42% 1Y 3Y 5Y 10Y. Neither the SEC nor FINRA tracks portfolio performance metrics for the financial planning industry. 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.