According to the Michael Burry stock tracking X account @burrytracker, Burry adjusted his options portfolio on Wednesday by closing out put positions on Nvidia and Palantir with a December 2026 expiration, while maintaining longer-dated bearish bets.

Per the post, Burry has sold entirely his December 2026 puts on NVIDIA and Palantir Technologies Inc., but retained the Palantir puts expiring in 2027. He also kept puts on the Invesco QQQ Trust (NASDAQ: QQQ) ETF. In addition, Burry trimmed all other holdings to reduce overall portfolio risk.

Concerns over Palantir's balance sheet

Burry has recently voiced worries about Palantir's financial practices, writing: "Palantir's bargaining power is eroding and there are channel stuffing issues. The former indicates weakening business fundamentals; the latter constitutes illegal activity." He noted that the company's accounts receivable have grown faster than revenue in nine of the past twelve quarters.

In Burry's view, this pattern could point to channel stuffing or aggressive revenue recognition methods, both of which would undermine Palantir's underlying business strength. On Tuesday, Palantir and Nebius Group unveiled a strategic partnership, designating the latter as Palantir's preferred sovereign AI infrastructure partner. Through this collaboration, Palantir's clients can deploy and fine-tune open-source models on Nebius hardware—a development that challenges Burry's bearish thesis on both companies.