'Big Short' Michael Burry De-Registers His Hedge Fund, Scion Asset Management

Michael Burry, the investor who rose to fame for his prescient bet against the 2008 housing market, and most recently for his bets against Palantir Technologies Inc. (NASDAQ:PLTR) and Nvidia Corp. (NASDAQ:NVDA), has de-registered his hedge fund, Scion Asset Management, LLC.

Burry De-Registers Scion Asset Management

Data from the SEC’s Investment Adviser Public Disclosure (IAPD) website confirms the firm is “NOT currently registered”. The public database shows Scion’s registration as an investment adviser was officially “Terminated” on Nov. 10, 2025.

Hedge Fund Liquidation And Q3 13F Filing Timeline

This termination filing clarifies a confusing timeline that recently captivated financial media. The shutdown process began internally, with Burry sending a letter to his investors on Oct. 27, as seen in multiple X posts online.

In it, he stated, “With a heavy heart, I will liquidate the funds and return capital… by year’s end”.

This was followed by Scion’s final, mandatory 13F filing on Nov. 3. SEC regulations require funds managing over $100 million to disclose their positions within 45 days of a quarter’s end.

Scion had to fulfill this requirement for its third-quarter activity, even while planning its closure. It was this final, backward-looking report that triggered a wave of news about his large bearish positions.

Burry Super-Bearish On Palantir And Nvidia

The 13F filing, detailing holdings as of Sept. 30, showed a significant put option on Palantir, which was reported as a $912 million bearish bet.

Burry, in a rare public clarification on Nov. 13, blasted these reports. He posted on X that he “spent $9,200,000” on the options, not the “$912,000,000” notional value that had been reported.

By terminating his SEC registration, Burry is no longer required to file these public 13Fs, effectively ending the public’s ability to track his positions.

This move also suggests a possibility of Scion Asset Management being converted into a private “family office,” allowing Burry to manage his own fortune away from the public eye.

S&P 500 Nears 7,000 Mark

S&P 500’s last 52-week high stood at 6,920.34 points; however, it ended 0.063% higher at 6,850.92 on Wednesday. With just 150 points away from the 7,000 mark, some analysts bet that the S&P 500 could breach that.

The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and the Nasdaq 100 index, respectively, closed mixed on Wednesday. The SPY was up 0.056% at $683.38, while the QQQ declined 0.24% to $621.08, according to Benzinga Pro data.