Billionaire hedge funder Dan Loeb is seeing more opportunities to bet against the market this year.

Loeb’s $18 billion Third Point fund said Thursday that it has increased its short bets amid increased “disruption” in stocks.

“An important shift in markets happened in the first quarter,” Loeb said on a call with analysts of his Third Point Reinsurance, noting that investors have more options where to put their money than stocks.

But don’t count on Loeb giving tips what to short.

“We can’t give all our secrets away on these calls,” Loeb said in response to an analyst question.

But Loeb isn’t alone in seeing opportunities to short the market.

Short bets against index funds and exchange traded funds increased 24 percent this year, according to analytics firm S3 Partners.