Overview
- Scion’s Q3 13F shows put options on roughly 5 million Palantir shares valued at about $912 million and 1 million Nvidia shares at about $187 million, together representing around 80% of its disclosed U.S. equity holdings.
- The Q3 filing omitted the hedging caveat Scion included in Q1, but 13F rules still prevent determining whether the puts are outright bearish positions, part of spreads, or hedges, and they reflect holdings only as of September 30.
- Palantir shares fell roughly 7% in Tuesday trading following the disclosure and earnings, while Nvidia slipped about 2%–3%, with broader tech weakness also in play.
- Palantir CEO Alex Karp criticized the wagers on CNBC, calling the idea of shorting Palantir and Nvidia “batsh— crazy” and arguing the companies are generating strong profits.
- Days before the filing, Michael Burry posted warnings on X about market “bubbles,” sharing charts on AI-linked financing webs and tech spending patterns.