According to CNBC, Michael Burry of ‘Big Short’ fame has deregistered his hedge fund Scion Asset Management with the Securities and Exchange Commission. The SEC database shows the fund’s registration status was terminated as of November 10, meaning Scion no longer needs to file regulatory reports. Burry recently revealed short positions against AI giants Nvidia and Palantir Technologies. His fund managed around $155 million in assets according to a March filing. In a social media post, Burry cryptically stated “On to much better things Nov 25th,” while Scion didn’t respond to requests for comment. The investor’s filings have long been scrutinized for clues about market bubbles since his famous subprime mortgage bet.
What’s really going on here?
So Burry’s shutting down the fund that made him famous. But here’s the thing – this isn’t his first rodeo. He actually closed the original Scion Fund back in 2008, right after his massive housing bet paid off. Then he reopened it years later. So is this permanent or just another strategic pause?
The timing is interesting. He’s been making noise about shorting AI stocks like Nvidia recently. Now he’s deregistering right before Thanksgiving. And that “much better things” comment for November 25th? Classic Burry cryptic messaging. But what could be better than running your own hedge fund?
The bigger picture
Look, $155 million isn’t exactly massive in hedge fund terms. Many funds that size operate without SEC registration anyway. So this move might just be about reducing regulatory overhead rather than shutting down entirely. But it does mean we’ll lose visibility into his positions – and that’s significant.
Burry’s filings became a sort of contrarian indicator for many investors. When he was buying, people wondered what he saw that they didn’t. When he was shorting, it made headlines. Now that window into his thinking is closing. For a market that’s been obsessed with his every move since The Big Short, that’s a big deal.
Basically, we’re left wondering whether this is retirement, rebranding, or just reducing paperwork. With Burry, it’s never straightforward. But one thing’s clear – the most interesting hedge fund filings just got a lot less interesting.
