Michael Burry, the legendary investor behind The Big Short, who famously predicted the 2008 housing collapse, has officially confirmed that Scion Asset Management is shutting down.

In a post on X, Burry wrote that he will “liquidate the funds and return capital by year’s end.”
Investing.com verified that Scion’s SEC registration was formally terminated on November 10, 2025, meaning the firm is no longer a registered investment adviser.

Why Did Burry Deregister Scion?

Deregistering usually signals one of two things:

A hedge fund is shutting down entirely, or it’s transitioning into a family office, which does not require SEC registration.

Burry did not explicitly say which path he is taking — but his letter (dated Oct. 27 and circulating online) suggests a full wind-down. The letter hasn’t been independently verified yet.

A Mysterious Tease: “Unchained — Blog launches Nov 25”

Burry updated his X bio to:

“Unchained – blog launches Nov 25.”

This hints he may be preparing a major reveal or long-form analysis, possibly on the “AI bubble” he’s been warning about in recent weeks.

Many investors expect this to be Burry’s most substantial public commentary since The Big Short era.

Updates on His Big Short Against Palantir

Burry also clarified details about his controversial position against Palantir ($PLTR):

  • He spent $9.2 million buying long-dated put options expiring in early 2027.
  • These allow him to sell ~$50 strike — roughly 5 million shares.

“Each of those doodads let me sell $PLTR at $50 in 2027,” Burry wrote.

Reports previously cited a notional value of $912 million — but Burry emphasized that his actual capital at risk is far smaller.

No Clarification on His Nvidia Short

Scion’s most recent filings show Burry bought puts equal to 1 million shares of Nvidia (notional: $186.6 million).

He has not provided additional details publicly.

Recent Warnings: “The Bubble No One Understands”

Burry recently resurfaced on social media after a long break, posting cryptic warnings about: AI valuations, Cloud and data-center companies underreporting chip depreciation, Systemic risks in tech-heavy indices.

His comments fueled speculation that he was preparing a major public thesis — which now appears tied to his upcoming blog.

Michael Burry is shutting down Scion Asset Management, returning capital to investors, deregistering from the SEC, launching a new project (“Unchained”) on Nov. 25, and still holding major long-dated short positions (PLTR, NVDA).

This marks Burry’s biggest shift since the post-2008 era, moving out of the fund world and into a more independent public voice, potentially shaping the next market debate.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.