"The Big Short" Burry holds coins to cope with turbulent times: reduced portfolio risk exposure and closed December expiry Nvidia and Palantir put options.

According to Zhihu Finance APP, well-known investor and “The Big Short” film prototype Michael Burry stated on Wednesday that he is reducing the risk of all his holdings and has closed the put options on Nvidia (NVDA.US) and Palantir (PLTR.US) expiring in December 2026, without rolling them over.

Burry wrote in a Substack post that he “reduced risk exposure” in September and is now holding some cash, adding that he is “happy to hold and see how the market develops.” Burry wrote: “The market this fall will be interesting.”

According to the position size rankings provided by Burry, high-end sports apparel brand Lululemon (LULU.US), healthcare service provider Molina Healthcare (MOH.US), and Latin American e-commerce platform MercadoLibre (MELI.US) remain his top three long positions. Burry stated that although he reduced some long positions, the basic order of his position sizes has not changed.

Oracle (ORCL.US), Palantir, and Nebius (NBIS.US) are still his top three short positions, followed by Nvidia and the iShares Semiconductor ETF (SOXX).

It is reported that Burry became famous for successfully predicting the 2008 financial crisis. He has been long-term bearish on U.S. stocks and is also one of Wall Street’s staunchest skeptics of the AI boom, previously increasing his short bets on stocks like Nvidia, Oracle, Palantir, Nebius, and Caterpillar.

On Wednesday, Burry also said he is watching for another decline in the U.S. Dollar Spot Index and plans to discuss the foreign exchange market in subsequent posts.

On Stocktwits, retail investors have remained “bearish” on Palantir in the past day, while sentiment toward Nvidia has shifted from “neutral” to “bearish.”

It is worth noting that recently the U.S. stock market has entered a “turbulent autumn,” with geopolitical conflicts pushing international oil prices above the $100 mark. U.S. PPI in August rose 5.4% year-on-year, beating expectations and fueling rate hike speculation. Coupled with the approach of midterm elections, multiple pressures have kept the market under sustained stress. As of September 10, the three major U.S. stock indices have fallen for four consecutive trading days.

CME Group’s “FedWatch” tool shows that the probability of the Federal Reserve raising interest rates by 25 basis points next week exceeds 70%. The European Central Bank raised rates by 25 basis points this week, with major central banks worldwide maintaining a generally tight policy stance, putting pressure on risk assets.