Questions to ask He previously owned shares earlier this year but sold out in the second quarter per his latest 13F filing as of June 30th. Rather, he pays attention to off-balance sheet metrics and naturaly, free cash flow. [18] He faulted federal regulators for failing to listen to warnings from outside a closed circle of advisors. The company has been growing rapidly over the past few years while retaining compelling profitability levels. The Scion Asset Management office and employees reside in Saratoga, California. Alibaba Group Holding Limited ADR (US:BABA) In total, Scion Asset Management manages $291.7 million in assets. Our Methodology. 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. 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. Burry even ended up selling 99% of his positions in 2022, including Alphabet (GOOGL) - Get Free Report, Warner Bros Discovery (WBD) - Get Free Report, and Meta (META) - Get Free Report, leaving only his position in GEO Group. WRITE REVIEW. [4] As a teenager, he attended Santa Teresa High School. 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. When firms are dual-registered as broker-dealers, they may be subject to compensation-related conflicts of interest, including revenue sharing from mutual funds and the sale of proprietary investment products. The Form 13F report requires disclosure of the manager that files the report, the name and class of the security, the CUSIP number, the number of . tips_and_updates Financial Advisor Education. Investor.com is your trustworthy guide to the world of personal finance. What does this mean? Justice Brett Kavanaugh suggested it was problematic that Biden took executive action even though Congress has not passed legislation related to student debt. Bruce Berkowitz's: Fairholme Capital Management. Our team combines decades of experience in all aspects of campus housing: residential life administration, real estate finance, program and asset management, plus practical knowledge from the ownership . These sectors generally tend to benefit from periods of economic expansion, lower interest rates, low unemployment, and gross domestic product (GDP) growth. GameStop Stock: What the SEC Says About Direct Registration, Alibaba Group Holding Limited American Depositary Shares each representing eight. This could be detrimental to a client during down markets. Filing Date. As a result, the company will soon be able to self-fund its growth and overall operations. What does this mean? By Steve Burns. the total portfolio value. Portfolio 9 Options 0 Performance. Five years later in 2013 Michael Burry reopened his fund with slightly changed name Scion Asset Management. 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. There are currently 6 companies in Mr. Burry's portfolio. The collapse of the real estate market in 2008 was a key event leading to the global financial crisis. 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 . Sensitive information sent over an HTTP connection can easily be eavesdropped on by third-parties. assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents. Scion Asset Management manages $291.7 million and provides investment advisory services for 4 clients (1 advisor/client ratio). <style> body { -ms-overflow-style: scrollbar; overflow-y: scroll; overscroll-behavior-y: none; } .errorContainer { background-color: #FFF; color: #0F1419; max-width . Here's what investors need to know about Michael Burry's long positions. Scion Asset Management also says it works to provide clients with a diverse mix of portfolio opportunities it believes will increase their chances of investment success. The firm prefers to employ long/short, market neutral, and activist strategies. Why Didn't the Fed? Performance. 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. Portfolio manager(s) are listed as Michael Burry. In addition, the fund holds 5,000,000 shares of . Michael Burry's hedge fund's other holdings consist of: In general, Michael Burry's investment philosophy is based on fundamental analysis. The impact to a portfolio due to this purchase was 0.65%. Scion Asset Management is headquartered in Saratoga, California. Scion Asset Management currently serves clients in the following states: CA, TN. 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. Specifically, the company repurchased nearly $9.7 billion worth of stock last year. Note: 13F filing performance is different than fund performance. He looks for investments in undervalued companies with strong long-term prospects. , Ranked #44 out of 483 Hedge Fund Managers. Qurate Retail Inc makes up Scion Asset Management Holdings Heatmap . Scion Asset Management: Michael Burry: 22.59%: $46538000: 9: Top Holdings Largest Trades Portfolio Structure Sector Allocation Performance History. [17], In an April 3, 2010 op-ed for The New York Times, Burry argued that anyone who studied the financial markets carefully in 2003, 2004 and 2005 could have recognized the growing risk in the subprime markets. Charles Bobrinskoy - Ariel Focus Fund Updated 11 Jan 2023. Does your firm offer mutual funds that have 12b-1 fees? Michael Burry of Scion Asset Management. 66.7% of the portfolio companies Michael Burry's Scion Asset Management jettisoned 11 US equities in the second quarter and ended the period with just one. See the articles below for analysis on other major investment firms/asset managers/gurus: If you are interested in finding more high-quality dividend growth stocks suitable for long-term investment, the following Sure Dividend databases will be useful: The major domestic stock market indices are another solid resource for finding investment ideas. 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). Some firms receive these fees as payments, which creates an incentive to promote them. The S&P 500, widely regarded as the benchmark for the US market, returned just under 3%, including dividends over the same period. What does this mean? Scion Asset Management, LLC operates as an investment firm. 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. The investment fund's only holding now is The . This means they effectively own 0.6% of the company. The total portfolio value may be much higher due to cash Several times last year, Burry predicted a stock market crash by betting that inflation would not give way. Does your fim accept soft-dollar benefits? See how we calculate 13F filing performance here. Neither the SEC nor FINRA tracks portfolio performance metrics for the financial planning industry. This form was filed on 2023-02-14 for the reporting period 2022-12-31. No. Specifically, his picks were published on message boards on the stock discussion site Silicon Investor back in 1996, with their returns being outstanding! 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. You wont receive financial advice or any financial planning services as an individual investor, and you can only invest in the available funds that the firm oversees. Our partners compensate us through paid advertising. 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, LLC ( CRD # 167772/SEC#:801-113529 ) The adviser's REGISTRATION status is listed below. This could also limit the number and diversity of investment options available and may impact their transferability. Participation in the Certification program, including the payment of an annual fee to investor.com, does not guarantee or in any way bias investor.com's decision to award "Trusted by investor.com" status, and "Trusted by investor.com" status shall not constitute or be construed as an endorsement of any firm by investor.com. 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? Scion Asset Management, LLC Holdings. 347 Followers. 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 . Scion Asset Management. 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. The next year, the S&P 500 fell again, by 22.1%, and Scion was up again: 16%. 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. Since 1999, Scion Advisory Services has been the sector's most trusted adviser, collaborating with clients on over 250 campuses and counting. The conservative-majority Supreme Court appeared skeptical of Bidens plan during hearings this week, raising doubts about the likelihood it will receive final approval. Firm can legally elect to accept commissions for their investment advisory services. As of 09/30/2022, below is a summary of the Scion Asset Management LLC top holdings by largest position size, as . Follow Tweet. He then left to start his own hedge fund. 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. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.
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