Michael Burry De-registers Scion Asset Management from the SEC

Michael Burry, the investor famous for predicting the 2008 financial crisis, appears to have de-registered Scion Asset Management from the U.S. Securities and Exchange Commission (SEC).

Unverified Shutdown Letter Circulates Online

A letter dated October 27 announcing the shutdown of Scion Asset Management is circulating on social media. However, its authenticity has not been confirmed. There is no official statement from Burry or Scion regarding the letter’s origin.

Possible Shift Toward a Family Office

The deregistration indicates that Burry might be preparing to convert Scion into a family office. Family offices are private investment entities that manage personal or family wealth and are not required to be registered with the SEC.

Burry Teases Major Announcement on November 25

Adding to the speculation, Burry hinted at a major announcement on November 25. He shared no further details, prompting speculation about whether it is related to Scion’s future structure or his investment strategy.

Burry Clarifies His Palantir Short Position

Burry also explained details about his recent short position in Palantir (PLTR). He revealed that he spent approximately $9.2 million on options that expire in early 2027. These options give him the right to sell Palantir shares at $50, covering around 5 million shares.

Reports claiming that Burry placed a $912 million short bet refer to the notional exposure of the options contract, not the cash he invested. The actual capital deployed was far smaller.

No Comment on His Nvidia Position

Burry has not commented on his rumored Nvidia short position. Public filings show that Scion previously held put options linked to 1 million Nvidia shares with a notional value of $186.6 million. It is not yet clear whether those positions are still active following the deregistration.

Conclusion

Michael Burry’s decision to de-register Scion Asset Management has sparked significant discussion in financial circles. Whether Scion is transitioning to a family office, planning a new investment strategy, or preparing for the November 25 announcement remains to be seen. Investors are now closely watching Burry’s next move.

Update: Michael Burry Stays Active Despite Scion Deregistration

Michael Burry said he is still managing his own money and remains active in the markets, even after Scion Asset Management deregistered with the SEC. He explained that Scion had always operated as a “friends and family fund” and was never looking for outside investors.

Burry added that Scion will continue as a vehicle for other ventures but will no longer handle external capital. His latest filings showed bearish positions on Nvidia and Palantir, along with call options on Halliburton and Pfizer.

Update: Palantir CEO Alex Karp has filed to sell 585,000 PLTR shares worth about $95M.

Michael Burry Launches Paid Substack After Closing Scion

Michael Burry has launched a new paid Substack called “Cassandra Unchained”, following the shutdown of Scion Asset Management earlier this month. The publication will feature his market views and research.

The subscription is priced at $379 per year or $39 per month. According to Substack, the newsletter has already attracted more than 7,000 subscribers.

Burry’s move marks his shift from managing a fund to sharing his analysis directly with the public.

Michael Burry’s Substack subscriber count has now crossed 50,000.