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「The Big Short」 Michael Burry Reportedly Dissolves His Hedge Fund Scion Asset Management
BlockBeats News, November 13th, according to investing report, "The Big Short" prototype Michael Burry seemingly deregistered his hedge fund Scion Asset Management with the US SEC this week. Burry also hinted at a significant announcement to be made on November 25th, although it is currently unclear what he is referring to.
Burry posted an image on social media showing that Scion's SEC registration status has been terminated. A letter dated October 27th from Burry to Scion investors outlining the fund's closure also appears to be circulating on social media, but the authenticity of this letter cannot be immediately verified. The SEC deregistration could also suggest that Burry plans to convert Scion into a family office, 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, with these options not set to expire until early 2027.
BlockBeats previously reported that on November 4th, Michael Burry's hedge fund Scion Asset Management released its 13F filing, revealing 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, with the nominal amount of Palantir bearish options held totaling up to $912 million (equivalent to 5 million shares), while the nominal amount of Nvidia bearish options is $186 million.
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