Short Positions Announced
Michael Burry disclosed on Tuesday via a SubStack post that he has taken a short position in Caterpillar Inc., shorting the stock at $1,060.98. He explained that the construction‑equipment maker has become overvalued as a beneficiary of artificial‑intelligence infrastructure spending, noting that its price‑to‑sales ratio has climbed to the highest level in at least three decades.
In the same communication, Burry said he opened additional short positions in Nvidia Corp., Applied Materials Inc., Tesla Inc., and the iShares Semiconductor ETF (SOXX), thereby extending his bearish view across the broader technology and semiconductor sectors.
Caterpillar’s shares finished the first half of 2026 with an 86 % gain, making it one of the top performers in the S&P 500 for the year. Burry attributed the rally to large AI‑related spending announced out of Korea, but warned that this could be “the beginning of the end” for the stock’s upward trajectory.
The article notes that Burry has never shorted Caterpillar before, having previously benefited from long positions in the company.