[18][16], In 2013, Burry reopened his hedge fund, this time called Scion Asset Management, filing reports as an exempt reporting adviser (ERA) active in the state of California and approved by the SEC. Dr. Michael Burry of Scion Asset Management and of The Big Short fame has recently re-surfaced in shares of Gamestop (GME). In January, Burry made predictions for an economic downturn in 2023. and What does this mean and why is it important? Designer and entrepreneur Melody Ehsani takes us on a journey from her early days working retail, to designing her first shoes and jewelry lines, to collaborating with Red Hot Chili Peppers and Jordan brand before taking on a bespoke role at Foot Locker. Private prison giants The GEO Group accounts for 20.4% of Scion Assets management public equity holdings. Firm performs side-by-side management with accounts that have differing fee structures. Disclaimer: It is our organization's primary mission to provide reviews, commentary, and analysis that are unbiased and objective. Geo dropped approximately 0.1% in the past year. [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. For further detail, see our articles on different types of advisors and financial advisor services. The collapse of the real estate market in 2008 was a key event leading to the global financial crisis. 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. Details on the strike price of the puts, their value and whether they were part of a broader trade were not available. decreased its share price by approximately 0.1%, Geo total 2,019,150 shares worth $15.5 million. Michael Burry has been on a buying spree lately. Does your firm offer mutual funds that have 12b-1 fees? For the most up-to-date information, please view the applicable SEC and FINRA reports above. Stock Company Name % of Portfolio Shares Owned Value Change in Shares Ownership History Bidens orders, which directed the attorney general not to renew Justice Department contracts with privately operated criminal detention facilities. Black Knight Inc (US:BKI) To ensure our website performs well for all users, the SEC monitors the frequency of requests for SEC.gov content to ensure automated searches do not impact the ability of others to access SEC.gov content. 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. How does your firm mitigate them? Questions to ask Description. Upgrade to unlock premium data and export to Excel . 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. For more information, contact [email protected]. Any data inaccuracies, please contact our team. 1-Year Performance. What does this mean? The advisory also believes in using fundamental analysis methods to assess . 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). [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. 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. 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". Some firms receive these fees as payments, which creates an incentive to promote them. 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 . approximately 0.1% of the total holdings value. Alibaba is a new holding for Scion Asset Management, initiated in its most recent quarterly filings. Our system has identified the following conflict alerts. [19] He has focused much of his attention on investing in water, gold, and farm land. 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 . '[26] In May 2021, it was reported that he held puts on over 800,000 shares of Tesla. Following the massive triumph he experienced by successfully predicting the subprime mortgage crisis of 2007-2008, Dr. Michael Burry has grown into a living legend in the world of finance. By visiting these sites, you are subject to their terms of use (IAPD, BrokerCheck). U.S Market Open - Market Closes in 49M 55S. Most recent portfolio value is calculated to be $ 46,536,925 USD. . , Questions to ask Point72 Asset Management . 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. Scion Asset Management, LLC's new positions include This website is provided as is without any representations or warranties, express or implied. Apply for Trusted badge. What does this mean? For comparison, the S&P 500 ETF (SPY) generated annualized total returns of 7.5% over the same time period. 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. How many times did it occur? Researcher and operations manager at DM Martins Research. Burry predicted, "Fed will cut and government will stimulate. While Scion Asset Managements portfolio lacks diversification, its holdings come with characteristics that reflect Dr. Burrys principles. Thanks for supporting the Wall Street Memes). By the end of 2004, he was managing $600 million and turning money away. Scion Asset Management, LLC Holdings. MGM Resorts International (US:MGM) Questions to ask Dr. Burry does not differentiate between small-caps, mid-caps, tech stocks, or non-tech stocks. The investment fund also strengthened its position in Geo by buying He also urged investors to liquidate their stocks. As a consumer advocacy project, investor.com does not charge any licensing fees for earned state accolade badges. In addition, the fund holds 5,000,000 shares of Qurate Retail Inc worth $10.1 million, whose value fell approximately 0.1% in the past six months. This typically occurs when firms manage mutual funds or hedge funds alongside smaller retail accounts. 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. The firm's website is not secure by modern internet standards. Data is sourced from 13D/13G, 13F, and N-Q filings. A domestic or foreign court has previously found firm or an advisory affiliate was involved in a violation of investment-related statutes or regulations. [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. All Scion Asset Management, LLC holdings are listed in the following tables. All rights reserved. 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. Rather, he pays attention to off-balance sheet metrics and naturaly, free cash flow. Michael Burry of Scion Asset Management liquidated his entire investment portfolio in the second-quarter, according to the latest 13F holdings report. Co-producer of The Street's financial channels: Apple Maven, Amazon Maven and Wall Street Memes. JD.com, Inc. (US:JD) 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. Questions to ask The majority of the companies in the funds portfolio are large-cap stocks. tips_and_updates Financial Advisor Education. For more information, please see the SECs Web Site Privacy and Security Policy. 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. We know that he's recently bought big on Geo Group (), despite its less-than-stellar performance of late.However, his other picks might surprise you. 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 misdemeanor involving: investments or an investment-related business, or any fraud, false statements, or omissions, wrongful taking of property, bribery, perjury, forgery, counterfeiting, extortion, or a conspiracy to commit any of these offenses. Firm or an advisory affiliate has previously been fined or ordered to cease and desist activity by the SEC or CFTC. Note: We do not offer technical support for developing or debugging scripted downloading processes. Verition Fund Management LLC increased its holdings in shares of ScION Tech Growth II (NASDAQ:SCOB - Get Rating) by 153.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). He named it after Terry Brooks' The Scions of Shannara (1990), one of his favorite novels. The Scion Group is the largest owner/operator of off-campus student housing communities globally. The author may be long one or more stocks mentioned in this report. Scion Asset Management is a small firm focused on serving institutional investors, and pooled investment vehicles in particular. The purchase prices were between $9.72 and $15.36, with an estimated average price of $12.41. The portfolio numbers only nine equities, with The GEO Group accounting for 20.4% of its holdings. 1001 and 1030). Relative to the number of outstanding shares of Geo, Scion Asset Management owns more than approximately 0.1% of the company. Questions to ask 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? As a result, unlike hedge funds, there is no historical performance for any financial advisory firm. GameStop Corp. 625 Westport Parkway. Bloomberg via Getty Images. Filing Date. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Thanks for contacting us. Updated 05 Jan 2023. 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. Each month, the investor.com Trust algorithm downloads the latest regulatory data from the SEC IAPD database. * Reported Price is the price of the security as of the portfolio date. In his words: All my stock picking is 100% based on the concept of a margin of safety.. There are 3 companies that go by the name of Scion Asset Management, LLC. This video discusses the update to Michael Burry's portfolio (Scion Asset Management). Since 1999, Scion Advisory Services has been the sector's most trusted adviser, collaborating with clients on over 250 campuses and counting. All rights reserved. 1,", "A Primer on Scion Capitals Subprime Mortgage Short", "Scion Asset Management - Quarterly Holdings Reports", https://en.wikipedia.org/w/index.php?title=Michael_Burry&oldid=1136913298, University of California, Los Angeles alumni, Vanderbilt University School of Medicine alumni, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 1 February 2023, at 20:47. Specifically, the company repurchased nearly $9.7 billion worth of stock last year. Competition has been eating the companys lunch for years, with Wolverine having a hard time sustaining its sales over the past decade, let alone growing them. The president and supporters of his plan argue student loan debt forgiveness will provide much-needed relief to million debt-saddled Americans. On the other hand, small-cap stocks make up only approximately 0.1% of the portfolio. Scion Asset Management manages $291.7 million and provides investment advisory services for 4 clients (1 advisor/client ratio). $41.4 million and $41.2 million respectively. Currently tracking portfolios of 77 superinvestors. Firm or an advisory affiliate has previously had their authorization to act as an attorney, accountant, or federal contractor revoked or suspended. It's not hard.". 340.42% 1Y 3Y 5Y 10Y. 340.15% 5-Year Performance. In response, Alibaba has been repurchasing stock in bulk. These positions were updated on November 14th based on the funds latest 13F filing. What does this mean? Shares of Chinese e-commerce behemoth Alibaba have remained under pressure despite the company generating rather robust revenues given the ongoing trading environment. These sectors generally tend to benefit from periods of economic expansion, lower interest rates, low unemployment, and gross domestic product (GDP) growth. Here you can find the latest trades based on Burry's 13F filings and insider trades. *SEC data last verified February 17, 2023. 2021-08-16. Profitability has also been weak. . After medical school, Burry worked as a Stanford Hospital neurology resident, then a Stanford Hospital pathology resident. If a user or application submits more than 10 requests per second, further requests from the IP address(es) may be limited for a brief period. Here's how we make money. [22] In 2020, the fund's largest investments were Alphabet Inc. ($121 million value) and Facebook ($24.4 million value). Black Knight Inc (US:BKI) He has said, "Fresh, clean water cannot be taken for granted. The firm owned 95,150 shares of the company's stock after purchasing an additional 57,650 shares during the period.