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Michael Burry’s Scion Asset Management has terminated its registration status with the SEC.
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The change took place on Nov. 10, according to a filing on the SEC website. Burry, who rose to fame for his 2008 bet against the U.S. housing market, said in a social media post featuring a screenshot of the terminated status that he was “on to much better things Nov 25th.”
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So, I bought 50,000 of these things for $1.84.
Each of those things is 100 doodads.
So I spent $9,200,000,
Not $912,000,000. @CNBC @WSJ @FT
Each of those doodads let me sell $PLTR at $50 in 2027.
That was done last month.
On to much better things Nov 25th. pic.twitter.com/9Voy3nwiTD
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Scion Asset Management did not immediately return requests for comment. MarketWatch reported the filing earlier.
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Investment advisers with more than US$100 million in regulatory asset under managements must generally register with the U.S. Securities and Exchange Commission, according to its website.
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The hedge fund manager has previously warned about market exuberance, last month posting an image of his character from The Big Short movie and a warning that “sometimes, we see bubbles.”
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Burry’s post also detailed the precise nature of his bet against Palantir Technologies Inc. shares, saying he had spent about US$9.2 million on options that let him sell its shares “at $50 in 2027.” Scion disclosed in a third-quarter filing bearish wagers on Nvidia Corp. and Palantir earlier this month.
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For the first quarter, Scion reported that it had liquidated almost its entire listed equity portfolio and bought put options on the chip giant, as well as a handful of US-listed Chinese tech giants.
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The hedge fund manager posted another series of images to his account earlier this month, including a graphic from a Bloomberg News story on circular financing concerns surrounding Nvidia, among other firms.
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With assistance from Bei Hu and Matt Turner
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English (US)