Michael Burry has completely sold his December 2026 put options on Nvidia. He also exited his near-term put options on Palantir as part of a broader portfolio trim to free up capital and increase liquidity for the upcoming autumn market.
Despite these sales, Burry maintains a bearish outlook on AI and tech. He continues to hold long-dated put options for December 2027 on Palantir and the Nasdaq-100 (QQQ). Short stock positions alone make up more than 21% of his portfolio.
Nvidia, Oracle, Palantir, and Nebius remain prominent short positions in his holdings. Conversely, his largest long positions are concentrated in other sectors: Lululemon accounts for roughly 17% of his portfolio, MercadoLibre for approximately 12%, and Molina Healthcare is the third largest.
Burry's skepticism regarding AI is based on the sustainability of capital expenditures for GPUs and data centers, as well as the financing structures used for these purchases. He also points to the risk of rapid semiconductor obsolescence due to the fast pace of chip development.
