Burry predicted Tesla stock would collapse like the housing bubble,[27] saying that "my last Big Short got bigger and Bigger and BIGGER" and taunted Tesla bulls to 'enjoy it while it lasts. What does this mean? Specifically, his picks were published on message boards on the stock discussion site Silicon Investor back in 1996, with their returns being outstanding! As a financial advisory firm, Scion Asset Management can provide a variety of financial planning services for Americans. Founded in 2018 as an unbiased resource empowering consumers to research and compare financial advisory firms, investor.com today gives consumers the tools to make smart money decisions about credit, retirement planning, and more. Scion Asset Management is a small firm focused on serving institutional investors, and pooled investment vehicles in particular. 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. What does this mean? Black Knight is a new holding for Scion Asset Management, initiated in its most recent quarterly filings. He became famous when he was played by Christian Bale in the blockbuster movie 'The Big Short' based on the best selling book by author Michael Lewis.Dr. This situation may lead the firm or a related person to recommend proprietary investments and products that could generate larger commissions than other similar non-proprietary products. Black Knight Inc (US:BKI) Financial professionals should disclose all positions they hold (or have sold short) that they will also be recommending to their clients. Scion Asset Management, registered in 2018, serves 2 state(s) with a licensed staff of 4 advisors. Scion was up 55%. He also believes that he expects growth in the consumer price index (CPI) to come down and be possibly negative in the second half of 2023. 0001567619-21-010281.txt. See the Top Performing Hedge-Funds > Michael Burry . What does this mean and why is this important? While Scion Asset Management advises clients across a variety of portfolio sizes, the average client balance is currently $72.9 million. 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. The Scion Group announced the addition of 32 high-quality assets and approximately 20,000 beds to its portfolio of student housing communities. By Steve Burns. "[12], After shutting down his website in November 2000, Burry started the hedge fund Scion Capital, funded by an inheritance and loans from his family. [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. The next year, the S&P 500 fell again, by 22.1%, and Scion was up again: 16%. Firm or an advisory affiliate has previously had their authorization to act as an attorney, accountant, or federal contractor revoked or suspended. Currently, their heaviest sector is Real Estate making up 53.2% of 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 . The Software Solutions segment provides software and hosting solutions comprising MSP, a SaaS application platform for mortgages, home equity loans, and lines of credit. Burry is betting big on the discretionary and industrial sectors, which generally benefit from economic growth. Warren Buffett's: Berkshire Hathaway. Michael Burry's hedge fund's other holdings consist of: In general, Michael Burry's investment philosophy is based on fundamental analysis. Stocks and cryptocurrency portfolio tracker. He previously owned shares earlier this year but sold out in the second quarter per his latest 13F filing as of June 30th. The investment fund's only holding now is The . He quickly earned extraordinary profits for his investors. SCION ASSET MANAGEMENT LLC Institutional Portfolio | Nasdaq. 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. Firm or a related person recommends the purchase of securities where the firm or a related person serves as an underwriter or general or managing partner. [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". Firm or an advisory affiliate was previously found to have made false statements or omissions by the SEC or CFTC. 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. These partnerships do not influence editorial content. SCION ASSET MANAGEMENT, LLC: CHIEF EXECUTIVE OFFICER: direct: 2013-03-01: CLARKE BENNITT MANAGEMENT, LP: PRINCIPLE OWNER: indirect: 2005-02-01: 2006-01-20: BURRY, ANH-THI: TRUSTEE THE BURRY 2003 REVOCABLE TRUST: 05/01/2003: Indirect Other: Fund Name Position direct/indirect start date end date; SCION ASSET MANAGEMENT, LLC: Green rows indicate new positions. Burry predicted, "Fed will cut and government will stimulate. Questions to ask Qurate Retail Inc and bought 5,000,000 shares worth $10.1 million. Will any of my assets be invested in those products? Alibaba is a new holding for Scion Asset Management, initiated in its most recent quarterly filings. The portfolio numbers only nine equities, with The GEO Group accounting for 20.4% of its holdings. [19] He has focused much of his attention on investing in water, gold, and farm land. Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. The following data is gathered from Scion Asset Management's latest 13F filing with the SEC for the reporting period of September 30, 2022. Last year, the nonpartisan Committee for a Responsible Federal Budget found the plan will likely cost an astronomical $400-$600 billion over time. 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. These conflicts can negatively impact clients via hidden fees and overall higher costs. He founded the hedge fund Scion Capital, which he ran from 2000 until 2008 before closing it to focus on his personal investments. Our receipt of such compensation shall not be construed as an endorsement or recommendation by StockBrokers.com, nor shall it bias our reviews, analysis, and opinions. The impact to a portfolio due to this purchase was 0.65%. On this Wikipedia the language links are at the top of the page across from the article title. 20665 4th Street, Suite 201. What does this mean? : DE | Fiscal Year End: 1231. And JD.com is in a similar situation, being 57% below its peak in February 2021. ", "Why Is Michael Burry Investing In Water? The investor's firm, Scion Asset Management, held bearish put options on over 800,000 shares of Elon Musk's . A domestic or foreign court has previously found firm or an advisory affiliate was involved in a violation of investment-related statutes or regulations. Limited offerings: Scion Asset Management isnt an advisory firm as much as it is an asset management company. "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. Firm or an advisory affiliate has previously had an investment-related civil action dismissed against them following a cash settlement in court. Scion Asset Management fund manager Michael Burry, who rose to fame with timely bets against housing ahead of the 2008 financial crisis, in the last quarter dumped a dozen bullish positions and . (Disclaimers: this is not investment advice. David Einhorn's: Greenlight Capital. subsequently closed the Scion Capital fund and has since launched his latest fund, Scion Asset Management. 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. While partners may pay to provide offers or be featured, e.g. What does this mean? He only looks for their undervalued elements, regardless of their sector and class. Specifically, the company repurchased nearly $9.7 billion worth of stock last year. , whose value fell approximately 0.1% in the past six months. However, Burry is also known to take an approach that often contradicts what the broad market dictates. Does the firm offer products that have performance-based fees, or does it accept performance-based fees? Dr. Michael Burry's Scion Asset Management disclosed holdings on Feb. 15 for the first time in over two years. 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 . Investor.com is your trustworthy guide to the world of personal finance. Scion Asset Management's public equity portfolio is heavily concentrated. Black Knight Inc (US:BKI) Stocks with a size of more than $10 billion in market cap make up Firm or an advisory affiliate has previously been fined or ordered to cease and desist activity by the SEC or CFTC. On the other hand, small-cap stocks make up only approximately 0.1% of the portfolio. As of 7th November 2022, Scion Asset Managements top holding is 2,019,150 shares of Geo currently worth over $15.5 million and making up 37.6% of the portfolio value. 347 Followers. Questions to ask Keep reading this article to learn more about Scion Asset Management. Why Didn't the Fed? Scion Asset Management, LLC operates as an investment firm. 18951. EXHIBIT C. July 28, 2019. Some firms receive these fees as payments, which creates an incentive to promote them. Scion Asset Management's Portfolio - All 9 Public Equity Investments. of the fund's Consumer Discretionary sector allocation and has decreased its share price by approximately 0.1% in the past year. Firm or related person receives soft-dollar benefits in connection with client securities transactions. With GME then traded around $4, Burry disclosed he'd previously sent GME's board several letters recommending an aggressive share buyback. To allow for equitable access to all users, SEC reserves the right to limit requests originating from undeclared automated tools. are based in the United States. Common Stock (US:US19247G1076) 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. The stock is now traded at around $14.430000. Additionally, the company has been utilizing loopholes through third parties, which essentially still allows it to deal with federal agencies. Portfolio manager(s) are listed as Michael Burry. Scion Asset Management Review. Firm can legally elect to accept commissions for their investment advisory services. He has Rusyn ancestry. Scion Asset Management, LLC is a private investment firm founded and led by Dr. Michael J. Burry 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. Hedge funds are required to report only their long positions, not their short positions. Relative to the number of outstanding shares of Geo, Scion Asset Management owns more than approximately 0.1% of the company. 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. These positions were updated on November 14th based on the funds latest 13F filing.