Michael Burry, the renowned investor famous for predicting the 2008 housing market collapse, has made a significant move with his hedge fund, Scion Asset Management. The firm has officially terminated its registration with the U.S. Securities and Exchange Commission (SEC), according to a filing made public.
The SEC Filing Details
The regulatory change was formally recorded on November 10, 2025, as shown in the official SEC documentation. Burry himself brought attention to this development by posting a screenshot of the terminated status on his social media account. In a cryptic message accompanying the image, he stated he was "on to much better things Nov 25th," suggesting a strategic shift in his investment approach.
Burry's Market Positions and Recent Activity
This regulatory change coincides with Burry's recent disclosure of specific bearish market positions. In the same social media post, he detailed a substantial options trade involving Palantir Technologies Inc., revealing he spent approximately $9.2 million on put options that grant him the right to sell Palantir shares at $50 in 2027.
This position was initially flagged in Scion's third-quarter regulatory filing, which also revealed bearish wagers against other technology giants, most notably Nvidia Corp.. Earlier this year, Scion had reported liquidating nearly its entire listed equity portfolio to acquire these put options.
Context and Regulatory Requirements
Under U.S. securities law, investment advisers managing more than $100 million in regulatory assets are generally required to register with the SEC. The deregistration of Scion Asset Management indicates a significant change in the fund's operational scale or strategy.
Burry has maintained a cautious stance on market valuations in recent months. Just last month, he posted an image of his character from the film "The Big Short" with a warning that "sometimes, we see bubbles," echoing his longstanding concerns about market exuberance.
Representatives from Scion Asset Management did not immediately respond to requests for comment regarding the deregistration. The initial report of the filing was brought to light by MarketWatch.
