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Black Knight Inc (US:BKI) 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. Apply for Trusted badge. Thanks for supporting the Wall Street Memes). | Investormint", "EDGAR Filing Documents for 0001567619-19-004198", The Big Shorts Michael Burry Sees a Bubble in Passive Investing, "Michael Burry Portfolio / Scion Asset Management, LLC Holdings", "Michael Burry tweet, Dec. 1, 2020 (Internet Archive)", "Michael Burry of 'The Big Short' reveals a $530 million bet against Tesla", "Michael Burry of 'Big Short' Bets Against Cathie Wood's ARKK", "Author Michael Lewis on Wall Street's Delusion", "Legendary Investor Leaves Twitter, Lists 8 Metal Bands in Bio", "Where 'The Big Short's Michael Burry Is Today", "Michael Burry: Subprime Short-Seller No. This website is provided as is without any representations or warranties, express or implied. What does this mean and why is it important? Dr. Burry trimmed Scions position in The GEO Group by 47%, with the fund now owning around 0.85% of the companys outstanding shares. We have concerns regarding capital management at . 408-441-8400 Stocks with a size of more than $10 billion in market cap make up Is your firm affiliated with a law firm in any capacity? Changes can be due to trades or changes in share prices. There are 3 companies that go by the name of Scion Asset Management, LLC. 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 . 223.17% 10-Year Performance. Scion Asset Management, registered in 2018, serves 2 state (s) with a licensed staff of 4 advisors. Scion Asset Management is headquartered in Saratoga, California. exclusive offers, they cannot pay to alter our recommendations, advice, ratings, or any other content throughout the site. Michael Burry is an American investor, and hedge fund manager. Firm is affiliated with an insurance company or agent who may be motivated to insure clients with products that generate high sales commissions when lower cost alternatives may exist. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Thanks for contacting us. 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. What does this mean? 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. [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. February 17, 2023. According to the latest 13F filing from famed investor Michael J. Burry's Scion Asset Management, the hedge fund has added seven new stocks to its portfolio. A good way to understand Burry's thinking and Scion Asset Management's . Particularly, in 2005, Dr. Burry started to concentrate on the subprime market. The firm may also use leverage and derivative strategies to increase the rate of client success. Portfolio value: $46M+ Period: 2022 Q4. The concept of Value Investing can sum up Michael Burrys whole investment philosophy. 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. What happened? Dr. Michael Burry of Scion Asset Management and of The Big Short fame has recently re-surfaced in shares of Gamestop (GME). By the end of 2004, he was managing $600 million and turning money away. Specifically, The GEO Group has suspended its dividends, which has allowed the company to deleverage rapidly. Investors profit from puts when the . Firm or an affiliate actively engages in business as a law firm or lawyer. He had already built a reputation as an investor at the time by exhibiting success in value investing. In Michael Burry's current portfolio as of 2022-12-31, the top 5 holdings are The GEO Group Inc (GEO), Black Knight Inc . In total, Scion Asset Management manages $291.7 million in assets. Which securities does your firm trade for itself that it will also be recommending to me? SEC Form 13F Filing History. What does this mean and why is it important? 0001567619-21-010281.txt. [13], In 2005, Burry started to focus on the subprime market. Burry, who is primarily known for his "Big Short" position, has made predictions about 2023, and these may be well expressed in short positions. Regulatory disclosures state that firm sells proprietary investments and products. The fund only has four clients. $41.4 million and $41.2 million respectively. In the most recent 13F filing, Scion Asset Management revealed that it had opened a new position in Rather, he pays attention to off-balance sheet metrics and naturaly, free cash flow. Alibaba is down 71% from its October 2020 peak. Black Knight is a new holding for Scion Asset Management, initiated in its most recent quarterly filings. Latest Holdings, Performance, AUM (from 13F, 13D). This page shows a list of all the recent 13F filings made by Scion Asset Management, LLC. 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. I was damned sure I was going to pay it off. Scion Asset Management, LLC operates as an investment firm. Justice Brett Kavanaugh suggested it was problematic that Biden took executive action even though Congress has not passed legislation related to student debt. What does this mean and why is it important? Scion Asset Management, LLC (Filer) CIK: 0001649339 (see all company filings) IRS No. SCION ASSET MANAGEMENT, LLC is a financial services company based out of 20400 STEVENS CREEK BOULEVARD, CUPERTINO, California, United States. The Scion Asset Management chief's grim prediction may be coming true, as the S&P 500 and Nasdaq indexes tumbled by 19% and 33% respectively in 2022. 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 . The SEC or CFTC has previously entered an order against this firm or an advisory affiliate in connection with an investment-related activity. Scion Asset Management has become increasingly popular due to Dr. Burrys ability to identify undervalued investment opportunities around the world. Scion Asset Management, LLC initiated holding in Lumen Technologies Inc. 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. He looks for investments in undervalued companies with strong long-term prospects. Scion Asset Management, LLC has disclosed 9 total holdings in their latest 13F filing with the SEC for the portfolio date of 2022-12-31. Here's what investors need to know about Michael Burry's long positions. He only looks for their undervalued elements, regardless of their sector and class. Ray Dalio's: Bridgewater Associates. The Scion Asset Management manager revealed the purchase of seven new stocks in the last quarter. 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. 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. , To file a complaint or dispute with this firm, please fill out the SEC Investor Complaint Form. Please declare your traffic by updating your user agent to include company specific information. Stocks and cryptocurrency portfolio tracker. Dr. Burry does not differentiate between small-caps, mid-caps, tech stocks, or non-tech stocks. Eventually, Burry's analysis proved correct: He made a personal profit of $100 million and a profit for his remaining investors of more than $700 million. What does this mean? [30], Burry is married, with children, and was living in Saratoga, California in 2010. Financial plans and investment portfolios are always unique to the client's personal financial situation. For example, front-running is when a financial professional buys or sell securities ahead of their client. And we will have another inflation spike. Red rows indicate closed positions. Top 50 Scion Asset Management Holdings . But critics have aired various concerns about Bidens plan, such as whether his executive order oversteps the presidents authority. 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. GameStop Corp. 625 Westport Parkway. [9] His son was diagnosed with Asperger syndrome, and Burry believes he himself has Asperger syndrome after reading about the disorder. [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". Scion Asset Management's Portfolio - All 9 Public Equity Investments. As a result, unlike hedge funds, there is no historical performance for any financial advisory firm. At the age of two he lost his left eye to retinoblastoma[3] and has had a prosthetic eye ever since. $48.3 Million Total portoflio value. [32], Burry was highly critical of the lockdowns during the COVID-19 pandemic in the United States.[33]. The SEC or CFTC has found firm or an advisory affiliate to have been involved in a violation of its rules. Firm or related person receives soft-dollar benefits in connection with client securities transactions. 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." What does this mean? While this can be seen as "eating your own cooking," there are conflicts that may arise. Why doesnt your firm use a secure website? What does this mean? 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. These filings are called "notice filings". What does this mean? 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. 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. [6] Scion Capital ultimately recorded returns of 489.34% (net of fees and expenses) between its November 1, 2000 inception and June 2008. After attending medical school, Dr. Burry left to start his own hedge fund in 2000. 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. Some firms receive these fees as payments, which creates an incentive to promote them. Relative to the number of outstanding shares of Geo, Scion Asset Management owns more than approximately 0.1% of the company. The firm prefers to employ long/short, market neutral, and activist strategies. Will His AI Plans Be Any Different? 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. Our Methodology. 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. Performance. Additionally, the company has been utilizing loopholes through third parties, which essentially still allows it to deal with federal agencies. The firm owned 95,150 shares of the company's stock after purchasing an additional 57,650 shares during the period. Burry's Scion Asset Management bought 2,355 put contracts against the red-hot tech ETF during the second quarter and held them through the end of the period. 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. This makes their stake in Geo total 2,019,150 shares worth $15.5 million. Scion Asset Management Holdings Heatmap . Stock Company Name % of Portfolio Shares Owned Value Change in Shares Ownership History This SEC practice is designed to limit excessive automated searches on SEC.gov and is not intended or expected to impact individuals browsing the SEC.gov website. His solemn investing philosophy has resulted in outsized market returns over the past few years, beating the S&P 500 by a wide margin. What does this mean? The author may be long one or more stocks mentioned in this report. 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. EXHIBIT C. July 28, 2019. Founded in 2013, Scion Asset Management is a multi-strategy hedge fund manager based in Saratoga, California. 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. "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. Common Stock (US:US19247G1076) Terms of Use | Disclaimers | Privacy Policy. Neither the SEC nor FINRA tracks portfolio performance metrics for the financial planning industry. What does this mean? The headquarters of Scion Asset Management is 20665 4th Street, Suite 201. These sectors generally tend to benefit from periods of economic expansion, lower interest rates, low unemployment, and gross domestic product (GDP) growth. How does your firm mitigate conflicts that arise from managing accounts with differing fee structures? 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. Scion Asset Management, registered in 2018, serves 2 state(s) with a licensed staff of 4 advisors. "Here's the story of one of the heroes of 'The Big Short', "The True Story Behind The Big Short - Real Michael Burry", The Greatest Trade Ever: The Behind-the-Scenes Story of How John Paulson Defied Wall Street and Made Financial History, "Mercury News Interview: Hedge fund manager saw subprime meltdown coming", "These Doctors Mean Business," Whitney, Kathy, Medicine (Vanderbilt School of Medicine), Summer 2014, "Learning From Dr. Michael Burry's Investment Philosophy", "Michael Burry Profiled: Bloomberg Risk Takers", "I Saw the Crisis Coming. Investor.com relies on regulatory data from the SEC to rate and review financial advisor firms. 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". 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 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. What does this mean? Currently tracking portfolios of 77 superinvestors. 1-Year Performance. (Disclaimers: this is not investment advice. Scion was up 55%. Link to 13F filings: SEC filings. Financial professionals should disclose all positions they hold (or have sold short) that they will also be recommending to their clients. . Questions to ask Scion Asset Management, LLC Will anyone that was involved be involved with my accounts in any capacity? 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. We use the change in the portfolio allocation because this is the most meaningful metric. Scion Asset Management LLC holdings changes, total fund size, and other information presented on HoldingsChannel.com was derived from Scion Asset Management LLC 13F filings. Relative to the number of outstanding shares of Geo, Scion Asset Management owns more than approximately 0.1% of the company. The current portfolio value is calculated to be $47.00 Mil. This value is significant in that it is the last known price at which the security was still held. Firms having met these requirements may further elect to participate in the investor.com Certification program for an annual fee paid to investor.com. The next year, the S&P 500 fell again, by 22.1%, and Scion was up again: 16%. The conservative-majority Supreme Court appeared skeptical of Bidens plan during hearings this week, raising doubts about the likelihood it will receive final approval. Not only did he make a personal profit of $100 million, but his remaining investors earned more than $700 million. '[26] In May 2021, it was reported that he held puts on over 800,000 shares of Tesla. Stock Company Name % of Portfolio Shares Owned Value Change in Shares Ownership History I was damned sure I was going to pay it off.. Questions to ask He has Rusyn ancestry. His analysis resulted in him shorting the market by convincing Goldman Sachs and other investment firms to sell him credit default swaps against subprime deals he saw as weak. Black Knight Inc (US:BKI) Note: 13F filing performance is different than fund performance. 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. This Supreme Court Case Could Redefine Crime, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, No Major Offer Expected on Childcare in UK Budget, Biden Gives Medal of Honor to Trailblazing Special Forces Member, Oils $128 Billion Handout as Doubts Grow About Fossil Fuels, Climate Change Is Launching a MutantSeed Space Race, This Former Factory Is Now New Taipeis Edgiest Project, What Do You Want to See in a Covid Memorial? Questions to ask What does this mean? Here you can find the latest trades based on Burry's 13F filings and insider trades. Strategies arent specified: There isnt a lot of specificity provided . What conflicts arise from this relationship? Firm or an advisory affiliate has previously been fined or ordered to cease and desist activity by the SEC or CFTC. U.S Market Open - Market Closes in 49M 55S. 12.25% 3-Year Performance. In comparison, the S&P 500 returned just under 3%, including dividends, over the same period. According to author Michael Lewis, "in his first full year, 2001, the S&P 500 fell 11.88%. John Rogers - Ariel Appreciation Fund Updated 11 Jan 2023. Primary Business Name: SCION ASSET MANAGEMENT, LLC CRD Number: 167772 Other-Than-Annual Amendment - All Sections Rev. Ultimately, Burrys analysis proved right. Upgrade to unlock premium data and export to Excel . It would appear that Burry is betting that China will rebound. To see Scion Asset Management's original 13F reports (2022 Q4), please click on the "important" button.

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