(HedgeCo.Net). Legendary contrarian investor Michael Burry — known for his prescient bets ahead of the 2008 housing-crisis and later popularised in the film The Big Short — has formally deregistered his hedge fund Scion Asset Management, according to a filing with the U.S. Securities and Exchange Commission (SEC) on November 10, 2025. Reuters+2Business Insider+2
Scion, which managed around US$155 million as of March 2025, will no longer have to comply with the regulatory reporting obligations for external client money. Burry posted on social media simply: “On to much better things Nov 25th.” Reuters+1
In recent months, Burry has been publicly sceptical of major tech companies — naming names such as NVIDIA Corporation, Palantir Technologies, Microsoft Corporation and Alphabet Inc. — accusing them of using aggressive accounting to inflate AI-related earnings, and he estimated some US$176 billion of depreciation may be hidden between 2026-28. Reuters+1
Why this matters
- The exit of a prominent public hedge fund marks a notable shift: it reflects both the challenges of running external capital in today’s markets and the growing appeal of operating internally or within family-office structures.
- Investors and market participants often scrutinise Burry’s trades for early signals of market stress — his withdrawal from the “public fund” game may reduce one widely-watched signal.
- It also underscores a theme: some hedge?fund managers believe the current market is less fertile for outsized returns via external mandates, especially with crowded equity/tech trades and rising valuations.
What’s next
- Burry’s move suggests he may pivot toward managing his own capital or launching a different structure (perhaps a family office). He said he wants to pursue “much better things.” Business Insider
- For clients invested in Scion, this change means they’ll need to evaluate what the structure becomes: Will it continue as a private vehicle? Will they be invited to stay on?
- More broadly, this event may trigger reflections across smaller hedge funds: is the model of external capital with heavy regulatory burden still viable?
Takeaway
Michael Burry’s deregistration of Scion Asset Management signals a fresh chapter — not just for his career but potentially for how hedge-fund firms adapt to the evolving market and regulatory environment. It’s a reminder that in hedge-fund land, strategy, structure and context matter as much as performance.