On September 9, Michael Burry, the archetype of the 'big short', disclosed his latest portfolio adjustments through his Substack account. His current largest long position is in Lululemon, which accounts for 17.4% of his portfolio; followed by MercadoLibre at 12%. The second tier includes Molina Healthcare and Temple & Webster, each at 9%. Additionally, Burry holds long positions in Adobe, Zoetis, JD.com, HCA Healthcare, Flutter, Fannie Mae, Freddie Mac, Sprouts, PayPal, Veeva, Birkenstock, Build-A-Bear, and Nvidia, with Nvidia also being used for hedging. On the short side, Burry's current short positions, ranked from largest to smallest, include iShares Semiconductor ETF, Micron, Nebius, CoreWeave, Oracle, Palantir, Nvidia, Caterpillar, and Invesco QQQ Trust. Notably, the put options on QQQ account for about 6% of his portfolio. Overall, his short positions now exceed 21% of the portfolio, not including the put options, indicating he is still betting on some technology and AI-related assets facing valuation pressures. Furthermore, Burry has completely exited his short positions in Tesla and Applied Materials, both closed profitably; he has also sold all SOXX put options and shifted those positions to larger QQQ put options. Following the latest adjustments, Lululemon has risen to become his largest position, while his overall portfolio continues to show a clear differentiation strategy of 'bullish on some consumer and healthcare stocks, bearish on certain technology and AI assets'.