Michael Burry, the investment manager celebrated for foreseeing the 2008 financial downturn, has formally withdrawn the registration of his investment firm, Scion Asset Management, LLC. This action comes after Burry recently took notable short positions against technology giants such as Palantir Technologies Inc. and Nvidia Corp., sparking considerable discussion within financial circles.
The process of winding down the fund commenced internally, with Burry informing investors of his intent to liquidate holdings and return capital by year-end. This was subsequently confirmed by an official "Terminated" status on the SEC's Investment Adviser Public Disclosure (IAPD) website as of November 10, 2025. The firm's mandatory 13F filing for the third quarter, which details holdings as of September 30, was released on November 3. This final report, which became public just as the fund was closing, highlighted significant bearish positions, including a reported $912 million put option on Palantir. However, Burry later clarified via social media that the actual cost of these options was $9.2 million, not the widely reported notional value. By deregistering, Burry is no longer obligated to make public 13F filings, thereby removing his trading strategies from public view. This change could indicate a transition for Scion Asset Management into a private "family office," where Burry would manage his personal wealth discreetly.
In related market developments, the S&P 500 recently approached the 7,000-point threshold, with its last 52-week high reaching 6,920.34 points before closing at 6,850.92. This upward trend suggests a robust market environment, even as the SPDR S&P 500 ETF Trust and Invesco QQQ Trust ETF showed mixed performance on the same day, reflecting diverse movements across different market segments.
Burry's latest move serves as a compelling reminder of the dynamic nature of financial markets and the strategic decisions investors make to adapt to evolving landscapes. It underscores the importance of transparency in financial reporting while also highlighting the individual's right to manage their assets away from public scrutiny. His actions, though controversial to some, consistently emphasize the critical need for independent thought and rigorous analysis in investment management, challenging conventional wisdom and encouraging a deeper understanding of market forces.