The two biggest positions in Scion Asset Management’s last 13-F revealed that the legendary ‘Big Short’ trader Michael Burry placed a massive bet against artificial intelligence (AI) at a time when Nvidia (NASDAQ: NVDA) stock and Palantir (NASDAQ: PLTR) shares appeared all but unstoppable.
By June 10, 2026, it appears that at least one of the two large bearish positions is bearing fruit.
Michael Burry’s bet against Palantir stock
Specifically, the largest holding in the Michael Burry portfolio in the regulatory filing covering the third quarter (Q3) 2025 was PLTR stock put options with a nominal end-of-period value of $912 million.
At the end of Q3, Palantir shares were changing hands at $200.47, while at the latest close on June 9, they were at $132.07, meaning the equity suffered an overall 34.12% decline.
Depending on Burry’s exact timing – a datapoint that is unknowable from the 13-F – he might have been less successful than the late October values indicate. For example, Palantir stock was worth $154.27 on August 1 – the first possible date for taking the short position – for a 14.39% drop by June 9.
The equity found its Q3 bottom on September 5, for a 13.74% fall by the Tuesday close – significantly less than relative to the values from October 31.
Michael Burry’s bet against Nvidia stock
Elsewhere, Michael Burry’s significantly smaller – reported as $186 million worth of put options in the filing – bet against Nvidia stock recently turned negative for the legendary trader.
Indeed, at the end of Q3, 2025, NVDA shares were changing hands at $202.49 and they, by the closing bell on June 9, rose 2.81% to $208.19. The difference is only greater relative to the start of the timeframe – up 19.84% since August 1 – and from the September lows: 24.65%.
Is Michael Burry still short on Nvidia and Palantir stock?
Another element that can’t be definitively proven, given the deregistration of Scion Asset Management, is whether Burry’s bets remain in place. Indeed, the famous investor had several opportunities to profit from the trade in recent months, as Nvidia stock hit multiple lows – most notably in early February and late March.
The window was even greater for PLTR shares as the bearish bet spent most of the session after January 2026 below the prices at which Burry likely made his bet.
Notably, despite the registration, Michael Burry has taken to personally sharing his stock market moves, and the information he provided indicates the two large short positions remain in place.
Further confirmation of the claim comes in the legendary investor’s commentary on the 2026 financial markets, which he has, on several occasions, described as appearing like they are in the final stretch before a major crisis.
