Every Stock Burry Bought, Broken Down: PayPal, Adobe, Alibaba — and the Samsung Mystery

Burry's nine buys share one thing — not losses, but neglect

At first glance the buy list looks random. Payments, creative software, Latin American e-commerce, yoga pants, animal medicine, a Chinese tech giant — the sectors are all over the map. But one thread runs through everything: these are companies beaten down not because the business broke, but because they don't have an AI story.

Let's go one by one. For transparency, I own three of these myself — PayPal, Adobe, and Alibaba — and what follows is a framework for looking at each, not a recommendation to buy.

1. PayPal — 'They've held the wake; the body never showed'

PayPal is down about 24% this year, and Burry didn't sell — he doubled down. His line here is one of the best I've seen from him: 'The market has been attending PayPal's wake for years now, though the body has yet to show it.' Everyone acts like PayPal is dead; Burry says he's been to the funeral and the casket is empty. The reasoning is twofold — the company is pouring free cash flow into buying back its own stock, and a margin-improvement program should start showing up in the numbers through 2026 and 2027. Apple Pay, Stripe, and Block are real competition; he knows that. He just thinks it's already more than priced in.

2. Adobe — a 'clear deep-value opportunity' down 42%

Adobe is down 42% this year. One of the most deeply embedded software companies on the planet — Photoshop, Creative Cloud — cut in half, on a single fear: that AI will eat its lunch. Burry disagrees, calling it a 'clear deep-value opportunity,' and bought more at $199.59 after a nearly 7% post-earnings drop. The company beat on earnings and profit and raised its full-year outlook — then spooked investors by pushing a freemium model and delaying price increases. Gross margins sit near an all-time high of 89.4%, and AI revenue tripled last quarter. On this one, I agree with Burry.

3. MercadoLibre — the Amazon of Latin America

E-commerce, payments, logistics — all of it, across Latin America. It's down more than 21% this year. Burry added in the mid-$1,500 range and called it a clean long-term winner trading at a discount because of its international exposure. It gets ignored simply for not being a U.S. stock — the whale fall again.

4. Lululemon — the athleisure nobody's watching

Down more than 40% this year. Burry built a full position around $120 a share. This isn't tech and it isn't software — it's an athletic-wear retail brand that got left behind in the rush to AI. No analyst upgraded it in the past month, nobody's talking about it. That's exactly the setup Burry hunts for.

5. Zoetis — a 'fat pitch' in animal medicine

Zoetis makes medicine and vaccines for pets and livestock, and it pays a dividend. Nothing to do with AI or tech. Burry called it a 'fat pitch' — Buffett's term for an obvious opportunity that just requires patience. That he bought it despite ongoing legal and fraud-probe issues around its 2026 guidance tells you something: he looked past the noise and judged the long-term business still good.

6. Alibaba — the news follows the price

He added to a name he already owned — the Chinese e-commerce and tech giant, beaten down for years on regulatory pressure and geopolitics. But those problems were always there. The stock fell hard, the news followed the price, and only then did people start caring about issues that already existed. Same thesis: good business, ignored by the market, trading cheap.

7. Veeva Systems — 'the Salesforce threat is overstated'

Veeva makes cloud software for the life-sciences industry — pharma and biotech. Burry bought at $159.05, with the stock down nearly 30% this year. His logic is simple: its P/E and P/S are far below historical levels. On the fear that Salesforce is a competitive threat, he pushes back directly: 'The Salesforce threat is only relevant to a small part of the business; the significance has been far overstated.' At 17x forward earnings it trades below most software peers, with strong adoption of its Vault CRM platform.

8. Samsung & the mystery stock — one simple rule: tangible book value

On June 8, Burry posted about Samsung Electronics. The rule is dead simple: when the stock hits tangible book value per share — when the price drops below what the company's hard assets are actually worth — you just buy. No further analysis needed. He says that setup has appeared eight times over the last 30 years at Samsung, and it worked every time. He bought Samsung in early 2025 and made it a top-three holding. And he says there's now a comparable opportunity in a U.S. stock — but he wouldn't name it. That's the mystery.

The takeaway: fear ran further than the fundamentals

Five names or nine, they converge on one bet: that fear has run further than the fundamentals justify. But I don't read this list as a set of tips. What matters is whether the numbers make sense when you run each one through your own standard. That's the difference between investing and gambling.

FAQ

Q: Should I just buy what Burry buys? A: No. Blindly copying him and sitting on the sidelines watching are both ways to lose money. What he actually does is value the business himself on names down 30-40%, then wait for the price he wants.

Q: Aren't PayPal and Adobe genuinely dying? A: Hide the names and look only at the quarterly revenue trend and they read more like growing companies. The 'dying' narrative comes from competition fears, but the actual path of revenue and free cash flow contradicts it. Judge with the numbers.

Q: What's the Samsung mystery stock? A: Burry only said there's a U.S. name that has reached a Samsung-like 'near tangible book value' setup — he didn't disclose it. For now it's a guess.