「The Big Short」 Michael Burry Reportedly Dissolves His Hedge Fund Scion Asset Management

On November 13th, as per the investing report, it seems that the "The Big Short" prototype Michael Burry deregistered his hedge fund Scion Asset Management with the US SEC this week. Burry also gave a hint about a significant announcement to be made on November 25th, but it is currently unknown what he is referring to. Burry posted an image on social media indicating that the SEC registration status of Scion has been terminated. A letter dated October 27th from Burry to Scion investors, outlining the closure of the fund, also seems to be circulating on social media. However, the authenticity of this letter cannot be verified immediately. The SEC deregistration may imply that Burry plans to convert Scion into a family office, which is a type of advisory that does not require SEC registration. Burry also clarified his short position on Palantir, stating that he spent approximately $9.2 million to purchase options for the stock, and these options will not expire until early 2027. BlockBeats previously reported that on November 4th, Michael Burry's hedge fund Scion Asset Management released its 13F filing. It was revealed that Michael Burry not only believes there is a market bubble but is also taking action to address it. The 13F filing disclosed that 80% of the fund's holdings are in bearish options for Nvidia and Palantir. The nominal amount of Palantir bearish options held totals up to $912 million (equivalent to 5 million shares), while the nominal amount of Nvidia bearish options is $186 million.