The “Big Short” investor is betting against AI-linked names while adding to his position in Molina Healthcare.

  • Michael Burry added to his Nvidia puts, with contracts extending into 2027.
  • He added more Palantir puts expiring in December 2026 and March 2027, with strikes in the low $100s, and shorted more shares at $175.
  • Oracle and Caterpillar were also among the stocks where Burry increased his short positions.

Michael Burry, the investor known for “The Big Short,” said he added to many of his largest short positions, including Nvidia (NVDA), Palantir (PLTR), Oracle (ORCL), Caterpillar (CAT) and the iShares Semiconductor ETF (SOXX). He also increased his position in Molina Healthcare (MOH), saying he remains bullish on the company over the long term.

NVDA Short Gets Bigger

Burry said in a post on Substack that he added to his “three largest shorts.” He said he added to Nvidia puts expiring in December 2026 and June 2027, with strikes in the low $100s. He said the question of whether the proposed $500-billion deal with Wall Street banks to raise capital for the purchase of Nvidia chips constitutes circular financing “is not the issue.”

Burry compared today’s situation to 2005, right before the housing crash. At the time, Goldman Sachs was holding a $3-billion complex mortgage investment. It looked like the whole system might collapse soon after Burry made his famous short bet. But Goldman managed to sell that position, and once they did, the floodgates opened in 2006. That year, banks like Merrill Lynch loaded up on the same risky stuff that later helped destroy them, Burry noted.

Burry also said the situation had “shades of Enron’s effort to make wholesale power an investable class.” The reference is to Enron’s attempt to turn wholesale electricity trading into a financial market that could be packaged and traded like other asset classes.

Palantir And Caterpillar Shorts

Burry added to his Palantir puts expiring in March 2027 and December 2026, with strikes in the low $100s, and shorted more Palantir stock at $175. He increased his Caterpillar short at $844, saying, “Data center plans are already aging.”

The iShares Semiconductor ETF was another target, with Burry shorting more shares at $533.

Oracle was also among the stocks he targeted, with his short position increased at $145.

Burry’s ‘Perimeter Of Debt’

He said his work on his next article had introduced a wider interpretation of liabilities, which he calls the “perimeter of debt.”

“These companies are expanding the perimeter of debt with a plethora of off-balance sheet tricks,” Burry said. He added that they are reaching deep into their supply chains for non-cancellable long-term contracts and “generally whipping that bull whip as hard as they possibly can.”

“This will hurt on the way back,” Burry said.

Burry Adds To Molina Healthcare

Burry said he added to his Molina Healthcare position at $198. He described it as a full position that had fallen in relative size due to capital movements on his part.

“Molina is now more on par with my largest positions again,” Burry said, adding that he believes in the company long term.

He also said the political season “may be shaping up as a good one for the company,” which he described as “a nice surprise.”

NVDA, PLTR, ORCL, CAT Stocks: Stocktwits Retail Sentiment

On Stocktwits, retail sentiment for NVDA and PLTR was ‘bullish,’ while message volume was ‘high’ at the time of writing. Sentiment for ORCL was ‘bearish,’ with ‘low’ message volume, while CAT had ‘bullish’ retail sentiment and ‘normal’ message volume.

Year to date, NVDA stock has gained nearly 16%, while CAT shares have risen 45%. In contrast, PLTR stock has fallen more than 6%, and ORCL shares have declined 25%.

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