Breaking: Fear & Greed Index plunges into deep fear, hitting its lowest point since July
Michael Burry Tracker
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Breaking: Michael Burry says AI's biggest customers are "tokenmaxxing"
The pyramid of customers who become competitors:Tier 1: frontier model builders: OpenAI, Anthropic, Google, Microsoft, Meta, xAI. 7 to 10 companiesTier 2: vertical LLM builders: Salesforce, ServiceNow, SAP, Bloomberg, IBM. 30 to 50 companiesTier 3: Fortune 500 building proprietary AI: JPMorgan, UnitedHealth, Walmart, CVS. 200 to 500 companiesTier 4: true pure consumers: mid-market companies and traditional manufacturers. Fewer companies remain as they climb the pyramid, per Burry's SubStackM![图片 1，共 1 张]()
What a time to be alive
Trump was on speaker phone with Jensen Huang during the All-In Summit and he called everyone outTrump said "I'm telling you it's all a hoax. The data centers are great. They make people wealthy. They make states wealthy. AI is bigger than the internet. These people are playing right into the hands of China. We're not going to let that happen"Jensen responded: "You're right, we're not going to let that happen sir."Trump is not buying the Elon Musk, Sam Altman and Dario Amodei warningsM![图片 1，共 2 张]()
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Breaking: Michael Burry says OpenAI and Anthropic are faking the AI warnings due to slow growth ahead of IPOs
Below are his reasonings:1. LLMs are not AI and won't be AGI. There is nothing AI to slow down.2. Competition is coming up fast, slowing benefits incumbents.3. IPOs need hype & puffery; "we are so awesome it could become dangerous" is hype & puffery4. Cover for real uncontrollable slowing growth as IPOs look to be pushed outM![图片 1，共 2 张]()
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Breaking: Michael Burry has disclosed his updated positions and he's not backing down
He:• Added to Lululemon $Lululemon(LULU.US) longs under $100• Added to Zoetis $Zoetis(ZTS.US) longs in the $72s• Sold out Flutter $FLTR longsMichael Burry said he sold $Zoetis(ZTS.US) in its entirety and "piled the majority of it into lululemon (LULU) here under $100."
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Update: Micron is now up +5,500% since Jim Simons first disclosed a $41M stake
He first disclosed the position in Q3 2013 at ~$18/shareAs of the most recent Q2 2026 filing, Renaissance has cut $Micron Tech(MU.US) position by 90% from prior quarter
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This might be worth keeping an eye on
Uber's CEO just bought $10M of $Uber Tech(UBER.US) • 141,000 shares at $70.96 on September 10thOther notable people buying Uber:• Uber's President/COO Andrew M. bought $5.3M• Nancy Pelosi spent up to $1M on $Uber Tech(UBER.US) calls in May• Saudi Arabia's Public Investment Fund holds $5.3B • Bill Ackman's Pershing Square holds $2.5B It seems they aren't worried about Tesla's CybercabM![图片 1，共 2 张]()
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Breaking: Michael Burry has disclosed his updated positions
He:• Sold entirely his December 2026 $NVIDIA(NVDA.US) puts• Sold entirely his December 2026 $Palantir Tech(PLTR.US) puts• Trimmed Lululemon $Lululemon(LULU.US)• Trimmed Molina Healthcare $Molina Healthcare(MOH.US)• Trimmed MercadoLibre $Mercadolibre(MELI.US)• Trimmed Temple & Webster $TPLWF• Trimmed Zoetis $Zoetis(ZTS.US)• Trimmed Sprouts Farmers Market $Sprouts Farmers(SFM.US)• Trimmed JD $JD.com(JD.US)• Trimmed Birkenstock $Birkenstock(BIRK.US)• Trimmed Adobe $Adobe(ADBE.US)• Trimmed HCA Healthcare $HCA Healthcare(HCA.US)• Trimmed Fiserv $Fiserv, Inc.(FISV.US)• Trimmed Flutter Entertainment $Flutter ENT(FLUT.US)• Trimmed Build-A-Bear $Build A Bear(BBW.US)• Trimmed Veeva Systems $Veeva Systems -CL(VEEV.US)• Trimmed Fannie Mae $Federal National Mortgage Association(FNMA.US)• Trimmed Freddie Mac $Freddie Mac(FMCC.US)• Trimmed PayPal $Paypal(PYPL.US)• Trimmed Oracle $Oracle(ORCL.US) short• Trimmed Palantir $Palantir Tech(PLTR.US) short• Trimmed Nebius $Nebius(NBIS.US) short• Trimmed Nvidia $NVIDIA(NVDA.US) short• Trimmed iShares Semiconductor ETF $SOXX short• Trimmed Micron $Micron Tech(MU.US) short• Trimmed Caterpillar $Caterpillar(CAT.US) short• Trimmed CoreWeave $Coreweave(CRWV.US) short• Kept his 2027 $Palantir Tech(PLTR.US) puts unchanged• Kept his 2027 $QQQ puts unchangedMichael Burry trimmed every single other position in his portfolio without changing the order of position sizingM![图片 1，共 2 张]()
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Lululemon now below $100 for first time since May 2018
Update: It's been 391 day since Michael Burry opened a bullish position on Lululemon $Lululemon(LULU.US)It's down ~50% sinceM![图片 1，共 2 张]()
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Michael Burry's updated positions
Top tier:• Lululemon $Lululemon(LULU.US) [Long, 17.4%]• MercadoLibre $Mercadolibre(MELI.US) [Long, 12%]Second tier:• Molina Healthcare $Molina Healthcare(MOH.US) [Long, 9%]• Temple & Webster $TPLWF [Long, 9%]Third tier:• Adobe $Adobe(ADBE.US) [Long]• Zoetis $Zoetis(ZTS.US) [Long]• JD $JD.com(JD.US) [Long]• HCA Healthcare $HCA Healthcare(HCA.US) [Long]• Flutter $Flutter ENT(FLUT.US) [Long]• Fannie Mae $Federal National Mortgage Association(FNMA.US) [Long]• Freddie Mac $Freddie Mac(FMCC.US) [Long]• Sprouts $Sprouts Farmers(SFM.US) [Long]• PayPal $Paypal(PYPL.US) [Long]• Veeva $Veeva Systems -CL(VEEV.US) [Long]• Birkenstock $Birkenstock(BIRK.US) [Long]• Build-A-Bear $Build A Bear(BBW.US) [Long]• Nvidia $NVIDIA(NVDA.US) [Long, Hedge]Shorts, largest to smallest:• iShares Semiconductor ETF $SOXX• Micron $Micron Tech(MU.US)• Nebius $Nebius(NBIS.US)• CoreWeave $Coreweave(CRWV.US)• Oracle $Oracle(ORCL.US)• Palantir $Palantir Tech(PLTR.US)• Nvidia $NVIDIA(NVDA.US)• Caterpillar $Caterpillar(CAT.US)• Invesco QQQ Trust $QQQ [Put, ~6% of portfolio]Full exits:• Tesla $Tesla(TSLA.US) [Short] - Covered for a gain• Applied Materials $Applied Materials(AMAT.US) [Short] - Covered for a gain• SOXX put options - Sold entirely, replaced with the bigger QQQ put positionSummary: Lululemon is now his largest position at after buying more. His short book crossed 21% of the portfolio, not including puts. Per his Substack
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It’s real
Breaking: Searches for "Can't Afford Home" have past the Global Financial Crisis level and reached all-time highM![图片 1，共 1 张]()
The dominoes are falling
Breaking: Blackstone just restricted withdrawals from its $77 billion private credit fund for the second consecutive quarterThey have only returned 50% of investors requestCompanies capping withdrawals:• Blackstone• Blue Owl Capital• Apollo Management• Ares Management• BlackRock• Starwood CapitalM![图片 1，共 2 张]()
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New: Bill Gates' fund (Cascade Investment) just filed a new 13D/A on Republic Services $Republic Services(RSG.US)
Back in February, Gate's stake was already at 35.6%, and now the latest filing pushes it to 36.7%, the highest level in 18 yearsBreakdown of his purchase:• Shares bought: 1,599,643• Average price paid: $216.62• Total spent: $346,521,383• New ownership stake: 36.7%For context: Gates has held a stake in $Republic Services(RSG.US) since 2008, making it one of Cascade's longest running concentrated positions outside Berkshire HathawayM![图片 1，共 1 张]()
The SEC assembled 17 of Wall Street's biggest names to prepare for 24-hour stock trading
Here's what you need to know:• The SEC is hosting a roundtable on September 17 to prepare for round-the-clock stock trading in the US.• Nasdaq wants 23-hour trading by late 2026, NYSE has proposed 22-hour sessions• Panelists include: Citi, UBS, Cboe, NYSE, DTCC, Invesco, Nasdaq, Schwab, Samsung, Blackrock, Robinhood, Jane Street, State Street, BNP Paribas, BNY Pershing. Citadel Securities, and Interactive BrokersM![图片 1，共 1 张]()
Update: Palantir is now up 635% since Jim Simons disclosed a $21M stake
He first opened the $Palantir Tech(PLTR.US) position in Q2 2021
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Breaking: Michael Burry has disclosed his updated positions
He:• Trimmed Veeva $Veeva Systems -CL(VEEV.US) longs - 3% position• Trimmed PayPal $Paypal(PYPL.US) longs - 3% positionMichael Burry said "I will add [PYPL] should it fall to the mid $40s"
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Update: Google $Alphabet(GOOGL.US) is now up 25% since Buffett's Berkshire disclosed a $4B stake
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Update: It's been 134 days since Michael Burry publicly went bullish on PayPal $Paypal(PYPL.US)
It's up 9% sinceOn July 15th, PayPal spiked 17% after rumors of a buyoutLater that day, Michael Burry said this about the buyout, "simply too low" in regards to the offerLast night, Stripe and private equity firm Advent International abandoned PayPal takeover plans$Paypal(PYPL.US) is down 11% today but Burry is still upM![图片 1，共 1 张]()
Breaking: JPMorgan warns a large-scale food supply crisis could hit within the next year
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Breaking: Michael Burry has disclosed his updated positions
He:• Bought Nvidia $NVIDIA(NVDA.US) longs - Hedge• Added to Oracle $ORCLE shorts• Added to Palantir $Palantir Tech(PLTR.US) shorts• Added to Nebius $Nebius(NBIS.US) shorts • Added to Caterpillar $Caterpillar(CAT.US) shorts• Added to Nvidia $NVIDIA(NVDA.US) shorts• Added to Birkenstock $Birkenstock(BIRK.US) longs in mid-$30s• Added to Freddie Mac $Freddie Mac(FMCC.US) longs in mid $5sMichael Burry said "The total short stock position is over 21% of the portfolios, not including puts. Putting numbers on puts is a bit squirrely. They are so far out of the money, generally, and fairly distant in expiry. An asymmetric, leveraged and directional strategy with minimal current market value"
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One of Michael Burry's top positions needs help
Lululemon just hit its worst drawdown in nearly 20 years, down 77% from its all-time highYet Michael Burry just doubled his position to 17% of his portfolioHe called it "screaming cheap" ahead of earnings on September 3rdHere's what he sees:• LULU trades under 10x earnings, the only major U.S. clothing retailer that cheap• Only 2 of 32 analysts give the stock rate a "Buy", which is the same bearish setup right before its 2018 turnaround• The margin damage is coming from tariffs, not falling demand, down 380 basis points, partly offset by cost cuts• A new CEO from Nike takes over in September, the same playbook that quadrupled the stock off its 2014 lowM![图片 1，共 2 张]()
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Update: It's been 294 days since Michael Burry publicly went bearish on Nvidia $NVIDIA(NVDA.US)
He's breakeven despite $NVIDIA(NVDA.US) falling 7 trading days in a row and posting its longest losing streak since 2022The company is set to report earnings on WednesdayM![图片 1，共 2 张]()
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Breaking: Michael Burry has disclosed his updated positions
He:• Bought CoreWeave $Coreweave(CRWV.US) shorts• Added to Micron $Micron Tech(MU.US) shorts• Added to Palantir $Palantir Tech(PLTR.US) shorts• Added to Semiconductor ETF $SOXX shorts• Added to Mercado Libre $Mercadolibre(MELI.US) longs at $1890s• Added to Lululemon $Lululemon(LULU.US) longs at $115s• Added to Molina $Molina Healthcare(MOH.US) at $201• Bought Sprouts Farmer’s Markets $Sprouts Farmers(SFM.US) shares at $70s• Bought Temple & Webster $TPLWF shares in low $3s• Bought Build-a-Bear $Build A Bear(BBW.US) in mid-upper $30s• Trimmed PayPal $Paypal(PYPL.US)• Trimmed Veeva $Veeva Systems -CL(VEEV.US)Michael Burry said "The vast majority of people should never short, and likewise should never be on margin."M![图片 1，共 1 张]()
14 years ago today, Peter Thiel turned $500K into $1B
When Facebook IPO'd in May 2012 at $38 a share, Thiel played it better than anyoneThiel wrote Facebook's first outside check in 2004 for roughly 10%And here's how he profited $1B:• 2004: Thiel invests $500,000 for roughly 10% of Facebook• May 18, 2012: Facebook IPOs at $38 a share• May 18, 2012: Thiel sells 16,800,000 shares in the IPO, banking $640,000,000• Same day: he sets up a plan to sell the rest, before the stock has traded for a single hour• Aug 16-17, 2012: the first lockup expires and Thiel sells 20.6M more shares between $19-$21• Aug 20, 2012: the filing goes public and Facebook closes at $20.01 that day‣ Thiel's cash-out: ~$1,000,000,000‣ Retail's position at the time: -47% from IPOIn the end, he kept 5,600,000 shares and his board seatM![图片 1，共 2 张]()
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New: Thiel Macro (Peter Thiel's fund) just dropped their Q2 2026 13F
Thiel showed zero holdings for two straight quarters and now Thiel is back with a reported ~$419M portfolioTop holdings:• Amazon $Amazon(AMZN.US): 28.2%• Vista Energy $Vista Energy(VIST.US): 18.1%• Vistra $Vistra(VST.US): 14.1%• American Electric Power $American Electric Power(AEP.US): 10.1%• DTE Energy $DTE Energy(DTE.US): 9.6%• FirstEnergy $Firstenergy(FE.US): 9.5%• CMS Energy $CMS Energy(CMS.US): 9.4%• X-Energy $X-Energy(XE.US): 0.9%For context: Thiel co-founded PayPal and Palantir, was the first outside investor in Facebook, and runs Founders Fund, which was the first institutional money into SpaceX