In an October 27, 2025 investor letter, Michael Burry said he planned to liquidate Scion Asset Management’s funds and return capital by year-end, subject to a small holdback for audit and tax expenses. That was an announced plan, not confirmation that the wind-down was completed. Reuters later reported that Scion’s SEC registration status showed as terminated on November 10, while cautioning that deregistration alone did not prove the fund had ceased to exist.
What did Burry announce?
Futurism and Reuters reported that Burry’s October 27, 2025 letter told investors he would liquidate Scion’s funds and return their capital by the end of the year, with a small amount retained for audit and tax costs. The reports establish what he said he intended to do; they do not establish that every fund was liquidated or all capital was returned.
Burry gave a market-valuation explanation in the letter: “My estimation of value in securities is not now, and has not been for some time, in sync with the markets.” That is his stated view, not evidence that it was the sole reason for the planned wind-down. Futurism’s November 13, 2025 report and Reuters’ November 13, 2025 report describe the letter.
Did Scion actually close?
Not conclusively, based on the reported information. Reuters said Scion’s SEC registration status was listed as terminated as of November 10, 2025. That is a regulatory-registration fact, not by itself proof that the business had ceased to exist or that the announced liquidation had been completed. The reports do not establish Scion’s status on October 7, 2026.
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What were the Nvidia and Palantir positions?
The Futurism report described Burry as holding reported put-option positions tied to Nvidia and Palantir. These were reported positions at the time, not confirmation of what he held later or whether the trades gained or lost money.
Why the Palantir figures differ
Futurism reported that Burry objected to media descriptions using a $912 million Palantir position figure. He said he spent $9.2 million on the put options. Those numbers refer to different measures: a filing-based reported position value is not the same as the cash paid to acquire options. The report attributes the $9.2 million expenditure and his correction to Burry; it does not independently verify a current position.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the announcement does—and does not—tell investors
- It records Burry’s stated plan in late October 2025 to wind down Scion’s funds and return capital, with an audit-and-tax holdback.
- It does not verify completion of that plan, establish Scion’s later operating status, or show whether the reported options positions were profitable.
- It does not establish Burry’s current view of Nvidia, Palantir, or the AI market.
The “Big Short” label refers to the 2015 film about Burry’s trade ahead of the 2008 financial crisis; it is a reference to that earlier episode, not evidence about the outcome of these later positions.
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