Burry Shorts Caterpillar for the First Time While Also Betting Against Nvidia and Other Tech Stocks
Miles Bennett
Michael Burry disclosed his first-ever short on Caterpillar at $1,060.98, while simultaneously shorting Nvidia, Tesla, and the SOXX semiconductor ETF — a bet that both cyclical and tech valuations have hit a turning point.
Why did Burry move against Caterpillar?
On his Substack column "Cassandra Unchained," Burry wrote: "I have never shorted Caterpillar. Today I shorted it."
He added that the stock had consistently delivered good returns for him on the long side.
This means → a long-time bull flipping bearish carries far more signal than a stranger opening a short — he is reversing a trade that made him money.
Which tech names did he short?
Nvidia (NVDA) at $198.09, Applied Materials (AMAT) at $729.40, Tesla (TSLA) at $416.22.
He also shorted the Philadelphia Semiconductor Index ETF (SOXX) at $642.80.
In plain terms = he is not betting against a single company — he is betting against the valuation level of the entire semiconductor sector.
What does he think of SOXX?
Burry's exact words: "SOXX itself is a rare form of index overvaluation that seldom occurs and has never been this easy to identify."
He noted that the individual stocks he shorted are not all SOXX constituents — shorting the names and shorting the index are two separate bets.
This means → he believes the semiconductor index bubble has become obvious enough to spot without any special expertise.
What does the overall layout signal?
This round of shorts spans industrial equipment (Caterpillar) and semiconductor tech (Nvidia, Applied Materials, SOXX).
This reflects a judgment that goes beyond "one stock is expensive" — Burry sees cyclicals and growth names peaking at the same time.
That said, a short is just an opening position. Whether the market moves his way remains to be seen.
Content is for reference only, not financial advice.