Michael Burry's updated investment portfolio – Q3 2025 - the big bear is definitely still here
The man who identified the subprime bubble admitted last week that this market is too bullish to go against, yet his updated investment portfolio looks like a grizzly bear's
New and significant positions:
$MOH (Molina Healthcare) – 125,000 shares - managed healthcare in the US
$SLM (SLM corp) – 480,000 shares, a surprising entry into a student loan company — perhaps Burry sees an opportunity here given the interest rate environment and demand for higher education?
In addition, he purchased: 50,000 shares of $LULU (Lululemon) — a renewed vote of confidence in the 'premium' sportswear sector.
But that's not what stands out in the portfolio, what stands out are the sales and put options
Michael Burry emptied out of the portfolio:
$EL (Estee Lauder), $BRKR (Bruker), $REGN (Regeneron), $MELI (MercadoLibre), and $UNH (UnitedHealth).
Michael Burry is essentially divesting completely from most of his positions, and not only that, he is buying put options and betting on declines in the strongest stocks on Wall Street
Namely $PLTR and $NVDA – the most powerful companies in the market this year - and Burry? He's sure they're headed down.
Michael Burry is so confident that he bought almost $1 billion in put options on Palantir - equivalent to almost 70% of his total portfolio now
His bearish position on Nvidia, valued at nearly $200 million, also accounts for over 10% of the portfolio
This man seems quite confident
He also bought call options on $HAL (Halliburton) and $PFE (Pfizer) – classic value stocks.
This mix reflects his view on the market - emptying most of the portfolio and put options on market leaders while establishing positions in value stocks that tend to outperform in a bear market
It seems Michael Burry is pessimistic about the market in the short term - and is acting accordingly
Third quarter earnings reports are starting to be revealed - we will follow significant updates - and will update you accordingly