Investor Michael Burry disclosed a fresh round of portfolio changes on Oct. 6 through his Substack account, saying the moves were made for tax-loss harvesting. The changes included selling Lululemon and rotating into Deckers, as well as selling Fannie Mae and buying Freddie Mac. He also shifted his Sprouts Farmers Market position into 2028 call options and converted his Zoetis stock holding into 2029 call options. Burry added to his 2029 call options on JD.com and increased his position in BYD ordinary shares, while also opening new 2029 put options on MetLife. Separately, he said he is still waiting for Alibaba to fall further, and that his position in Fiserv remains unchanged. Burry added that the fourth quarter "will bring additional pressure to stocks that have fallen sharply." The disclosure also noted that tax-loss harvesting refers to selling losing assets to realize paper losses, which can then be used to offset capital gains from other investments and reduce tax liabilities.
Michael Burry, the investor known as the real-life figure behind "The Big Short," disclosed a new set of portfolio adjustments on Oct. 6 through his Substack account, saying the moves were made for tax-loss harvesting.
Burry said he sold Lululemon and rotated into Deckers. He also sold Fannie Mae and bought Freddie Mac.
He shifted his Sprouts Farmers Market holding into 2028 call options and converted his Zoetis stock position into 2029 call options. At the same time, he added to his 2029 call options on JD.com and increased his position in BYD ordinary shares. He also opened new 2029 put options on MetLife.
In the same disclosure, Burry said he is still waiting for Alibaba to decline further, while his holding in Fiserv remains unchanged.
Burry also wrote that the fourth quarter "will bring additional pressure to stocks that have fallen sharply."
The note added that tax-loss harvesting refers to selling loss-making assets to realize paper losses, allowing those losses to offset capital gains from other investments and reduce tax liabilities.
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