Famed investor Michael Burry has deregistered his hedge fund called Scion Asset Management.
Burry, whose bet against the subprime housing market in 2008 was chronicled in the book and film “The Big Short,” has been warning on social media of a bubble in artificial intelligence (A.I.).
The U.S. Securities and Exchange Commission’s (SEC) database shows Scion Asset Management’s registration status as “terminated” on Nov. 10.
Deregistration means that Burry is no longer required to file reports with the Wall Street regulator. However, it’s not known if the hedge fund has been completely unwound and closed.
Earlier this year, Scion was shown to be managing about $155 million U.S. of assets.
Investment advisers with assets of $100 million U.S. or more have to register with the SEC and are subject to federal regulation rather than state regulation.
Burry has attracted attention in recent weeks after it was disclosed through SEC filings that he has taken out big bets against high-flying technology stocks Nvidia (NVDA) and Palantir (PLTR).
Palantir co-founder Alex Karp publicly criticized Burry for betting against his company, even as Karp himself has sold $150 million U.S. of PLTR stock this year.
Burry has also returned to social media in recent weeks after being absent for several years, criticizing the A.I. boom and questioning the accounting practices of technology companies.
In his latest social media post on Nov. 12, Burry said cryptically: “On to much better things Nov 25th.” The post appeared as it was revealed Scion’s SEC registration has been terminated.
The deregistration has prompted a wave of speculation on social media, where Burry has a large following among individual retail investors.
Some speculation is that Burry is calling it quits as a manager of other people’s money, or that he might be pivoting to run a family office or manage his own capital.
