US-based hedge fund Scion Asset Management’s founder, Michael Burry, on Monday, 10 November 2025, terminated the registration status of the investment giant, according to the official data collected from the Securities and Exchange Commission (SEC) website.
Michael Burry’s popularity in the US markets rose after the hedge fund portfolio manager bet against the US housing market in 2008 using a financial instrument like credit default swaps (CDS). Burry’s bet paid off big as America’s housing market crashed due to the subprime mortgage crisis; he held the insurance against those bonds, which made him $100 million in 2008.
What did Michael Burry say?
Scion founder Michael Burry said that his estimation of value in the equities has not been in sync with the equity markets, highlighting the reason for closing his fund and the de-registration move. A social media post from Barchart showed that Michael Burry wrote the letter to his investors on 27 October 2025.
Michael Burry, in his letter, said that he will be returning investors their money back to them by the end of 2025 due to a tax holdback.
“With a heavy heart, I will liquidate the funds and return capital – but for a small audit/tax holdback – by year’s end,” said Michael Burry in an official letter to his investors.
(This is a developing story. Please check back for updates)
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