"Soros Put" Hits Record As Billionaire's Downside Hedge Rises By 154% in Q4 To $1.3 Billion

Tyler Durden's picture




 

A curious finding emerged in the latest 13F by Soros Fund Management, the family office investment vehicle managing the personal wealth of George Soros.

Actually, two curious findings: the first was that the disclosed Assets Under Management as of December 31, 2013 rose to a record $11.8 billion (this excludes netting and margin, and whatever one-time positions Soros may have gotten an SEC exemption to not disclose: for a recent instance of this, see Greenlight Capital's Micron fiasco, and the subsequent lawsuit of Seeking Alpha which led to the breach of David Einhorn's holdings confidentiality).

The second one is that the "Soros put", a legacy hedge position that the 83-year old has been rolling over every quarter since 2010, just rose to a record $1.3 billion or the notional equivalent of some 7.09 million SPY-equivalent shares. Since this was an increase of 154% Q/Q this has some people concerned that the author of 'reflexivity' and the founder of "open societies" may be anticipating some major market downside.

Then again, as the chart below shows, as a percentage of total AUM, the put position rose to 11.1% of his notional holdings. By way of reference, as of June 30 2013, his SPY put may have had a smaller notional value, but it represented both more shares (7.8 million), and was far greater as a % of AUM, at 13.5%.

Finally, remember that what was disclosed on Friday is a snapshot of Soros' holdings as of 45 days ago. What he may or may not have done with his hedge since then is largely unknown, and since there are no investor letters, there is no way of knowing even on a leaked basis how the billionaire has since positioned for the market.

That said, while the SPY puts are most likely simply a hedge to his overall bullish exposure, perhaps more notable was the $25 million call position that Soros put on the gold miners ETF which has been beaten into oblivion over the past year, in the fourth quarter. Does Soros think that it is finally the miners' turn to shine?

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Tue, 02/18/2014 - 01:15 | 4446996 hobopants
hobopants's picture

For the love of God no more gibberish. 90% of the stuff you post is just a bunch of buzzwords strung together with less coherence than an alcoholic packing one too many chromosomes.

 

Mon, 02/17/2014 - 20:05 | 4446184 noguano
noguano's picture

Thats why Ron Paul wanted to audit the Fed.  Too late now.  But sharp traders can profit.  This move is ancient.  Have to be 2 or 3 steps ahead. 

Mon, 02/17/2014 - 20:12 | 4446209 Blankenstein
Blankenstein's picture

Now Buffett's moving into pipeline products.

This link was posted on another thread:

http://www.cbc.ca/news/business/warren-buffett-invests-1-4b-in-pipeline-...

"In yet another oil-related foray, Warren Buffett’s Berkshire Hathaway has paid $1.4 billion US for a business that makes chemicals to improve the flow of fluids through pipelines."

"He also has publicly endorsed the Keystone XL pipeline, which would carry oil from Alberta to refineries in the southern U.S."

Mon, 02/17/2014 - 23:18 | 4446735 TheSilverJournal
TheSilverJournal's picture

Good chess players control their opponent's next move. And everybody knows the next few moves of the Central Planners.

  1. Print
  2. Print

So who are the puppets?

Mon, 02/17/2014 - 15:25 | 4445378 D7z
D7z's picture

Still dont think Soros is a Mastermind in the global playfield, hes just some hedging sockpuppet of wealthier clans of his "tribe".

Mon, 02/17/2014 - 15:40 | 4445415 walküre
walküre's picture

The Queen is nearly broke - again. Maybe she's been talking to Soros already. Guys like Soros are like sharks when they smell blood. Wouldn't put it past him.

Mon, 02/17/2014 - 15:34 | 4445400 EARLPEARL
EARLPEARL's picture

jr,calm down...soros is spending his own money not government money, and last time i checked we are still allowed to spend our own money anyway we want to and say anything we want to...yet because you disagree you think soros should lose his passport???you probably watch glenn beck, or listen to him on radio...he lost his job by telling similiar bullshit as you.

Mon, 02/17/2014 - 16:12 | 4445488 JR
JR's picture

Whose money do you think Soros has? PS: it's not his, probably some of yours. The whole article is about how he's trying to corral more.

The world monetary system now in effect was designed and is operated by the bankers; to suggest that they are buying equities with their own money, need I say it, is to be foolish.

Mon, 02/17/2014 - 20:52 | 4446321 satoshi411
satoshi411's picture

fucking funny here on ZH you all love Jimmy Rogers, who made all his money in PARTNERSHIP with SOROS,

Thus if SOROS is the anti-christ then so is Rogers? Right?

Rogers is careful NOT to piss off AIPAC, SOROS doesn't care,

I think SOROS really cares about little-poor people and this drives the rich NAZI assholes nutes.

Rogers is quite careful like Faber to not get pulled into the left-right bullshit.

But SOROS & KRUGMAN carry the left-wing flag on the CHEST and it drives the right wing zionist likud nazis nuts.

Mon, 02/17/2014 - 21:47 | 4446455 ncdirtdigger
ncdirtdigger's picture

ironic that you think a NAZI COLLABORATOR cares about little poor people. Give me a break. He fed little poor people to the Nazi ovens.

Tue, 02/18/2014 - 02:51 | 4447151 satoshi411
satoshi411's picture

Glen Beck, and his revisionism.

Anybody that say's that SOROS colloborated with HITLER is on the LIMBAUGH/BECK payroll. aka right-wing neo-con USA

*

SOROS survived the holocaust because as a smart teenager he fled to LONDON, where he survived.

Just like now in the USA, those that stay will die. Those that flee to free country's will live.

Mon, 02/17/2014 - 23:31 | 4446768 Abi Normal
Abi Normal's picture

LOL Soros care about little poor people alright, about as much money as he can get from them, let;s not forget how may currencies he has crashed...get an education before you spout off the non-sense satoshi....roflmao!

Mon, 02/17/2014 - 20:19 | 4446227 dexter_morgan
dexter_morgan's picture

And all this time I thought it was the Koch brothers.............who are like 70th on the political donations list WAY behind evil incarnate Soros.

Mon, 02/17/2014 - 20:49 | 4446316 satoshi411
satoshi411's picture

Funny how the right-wing ZIONIST nutcases want to blame the SOROS left-wing hippy crowd for what ails the world.

I concur that KOCH and his left-right divide&concur crowd are sowing seeds of destruction in AmeriKKKa.

One only needs to read the 'real books' of SOROS and then listen to BECK or KOCH and you can see who is the real fucking NAZI.

The question that is interesting is why does the AIPAC(ZH) crowd have such a hard-on for the left-wing, e.g. KRUGMAN, SOROS they really aren't much of anything,

 

Mon, 02/17/2014 - 23:34 | 4446782 Abi Normal
Abi Normal's picture

satoshi, wrong again libtard, damn you are too far gone to try to educate, carry on spewing lies!  Soros, Obama, Cloward and Piven, all subscribe to Alinsky...overwhelm the system to bring it down.

 

Piss off a liberal by telling them facts....I love to watch the heads explode, or the eyes roll to the back of their heads, on a swivel of course...bwaaahahahahahahah....moron!

Mon, 02/17/2014 - 23:49 | 4446816 satoshi411
satoshi411's picture

Glen Beck, Rush Limbaugh, and all the talking heads for NEO-CON 101, all say "BURN THE SYSTEM to the GROUND AND REBUILD"

Alinsky adovcated change through passive means, Zionists (AIPAC) advocate change by murder and imprisonment (DHS,FEMA).

*

The far-left and far right I concur both want 'change', but the right-wing has engineered a civil war to brink the death of 100's of millions, the left-wing doesn't want mass genocide.

The last WWII was engineered by ZIONIST NAZI's, they only know murder and pillage.

The right-wingers hate the left, as seen here on ZH by the 24/7 bashing of KRUGMAN & SOROS.

ZH is largely a site of apologists for the right-wing. Both NEO-CON(USA), and LIKUD(ISRAEL), but all controlled by AIPAC, aka goldman-sacks.

Mon, 02/17/2014 - 20:45 | 4446308 satoshi411
satoshi411's picture

This information came from glen beck in 2010, a known AIPAC operative and spokesman.

Question begs is WHY does the AIPAC crowd who really did destroy ameriKKKa, why do they want to blame SOROS for their  handi-work??

*

Me thinks AIPAC is pissed that they lost SYRIA, UKRAINE, and AFGHAN.

This list of 7 things to screw a nation can be found in ZIONIST writings from the late 1800's.

Mon, 02/17/2014 - 23:37 | 4446788 Abi Normal
Abi Normal's picture

oh, you anit-semite, blame it all on the jews now?  i thought it was us right wingers?  make up your freaking mind already?!  Don't you know the majority of Hebrews in this country are liberals?  Man, you kill me with your ignorance sonny jim...ugh.

Mon, 02/17/2014 - 23:42 | 4446805 satoshi411
satoshi411's picture

Soros is left-wing, and a Hungarian Survivor of the Holocaust.

*

Zionism, Likud, and AIPAC are all extreme right-wing organizations, think Glen Beck. Think Cheney, Think Netanyahu.

Yes, in the USA the left-wing HEBREW is a silent majority, but make no mistake that while AIPAC is a minority they control the USA Congress, and almost all political office in the USA.

*

The Zionists (MOSSAD) are Not Jewish.

The Neo-Cons ( CIA ), are NOT Christian.

The Zionists and Neo-Cons are  criminals.

Tue, 02/18/2014 - 02:21 | 4447108 sylviasays
sylviasays's picture

"In the USA the left-wing HEBREW is a silent majority?"

 

So left-wing Jews like Barbara Boxer, Dianne Feinstein, Chuck Schumer, Carl Levin, Al Franken, et al are part of the silent majority?

 

 

Don't make me kvetch!

Tue, 02/18/2014 - 02:43 | 4447139 satoshi411
satoshi411's picture

LEFT MY ASS

This is like calling HILLARY-2016 LEFT.

ALl the names you mentioned above are wolves in sheeps clothing.

Real left is Ralph Nader, or Krugman, people who care about people. Noah Chomsky is an example of real left.

Your list above is all PRO NAZI LIKUD fuck-nuts.

Wed, 02/19/2014 - 16:08 | 4453948 TheGrandChessboard
TheGrandChessboard's picture

Hey dumbo who do you think the neocons are, they are former torskyites aka commies, but when the Soviet Union started to turn against the Jews the Jews freaked out and turned to the right well not really they co-opted the right. They never lost there love for big government but they are jews first and foremost so there loyalty lies with Israel and the tribe.

Chumpskee is also a border border guard who tries to say that America controls Israel and not the other way around what a joke. But I guess your too stupid to get the fact the Jew is neither left or right he simply acts whichever advances the interest of the Jew

Mon, 02/17/2014 - 22:21 | 4446557 Crawdaddy
Crawdaddy's picture

Podesta is a scummy jesuit brought in to get Obumbler and the NWO blueprint back on track.

Mon, 02/17/2014 - 14:43 | 4445277 999.9
999.9's picture

I read a similar article 6 months ago that costed me tenths of thousand dollars shorting the s&p 500

Mon, 02/17/2014 - 14:57 | 4445300 Caracalla
Caracalla's picture

I keep increasing my gold and silver short positions every day.  I sure hope the monkey-hammer comes soon!  Who would have thought a short time ago that gold and silver could go up this much in such a short amount of time.

Mon, 02/17/2014 - 15:42 | 4445421 dogbreath
dogbreath's picture

are you serious, did you forget the sarc/ tag

Mon, 02/17/2014 - 15:21 | 4445363 EARLPEARL
EARLPEARL's picture

soros fund is a 28 billion dollar fund...the 13 f only show 11 billion.anyone know where the majority is invested...more than 17 billion invested that is not covered in 13 f ..

Mon, 02/17/2014 - 15:25 | 4445368 walküre
walküre's picture

368 tonnes of gold?

enough to buy a country and form its own central bank?

Germany will be waiting a long time ....

Mon, 02/17/2014 - 16:26 | 4445520 dark pools of soros
dark pools of soros's picture

The jews will never give Germany any gold

Mon, 02/17/2014 - 18:40 | 4445964 Chuck Knoblauch
Chuck Knoblauch's picture

Germany needs to get rid of that woman and elect a man who will return it to its former glory. That poor country allowed itself to be deballed and circumcised.

Tue, 02/18/2014 - 01:25 | 4447023 silverserfer
silverserfer's picture

"deballed and circumcised" and shit in the mouth and pissed on.. and videotaped. Its almost like theyre into that weird shit in Germany 

Tue, 02/18/2014 - 01:17 | 4447007 Crawdaddy
Tue, 02/18/2014 - 02:22 | 4447118 bunnyswanson
Mon, 02/17/2014 - 16:26 | 4445523 smcapmachine
smcapmachine's picture

Unfortunately George has been listening to Zerohedge

Mon, 02/17/2014 - 16:41 | 4445563 marginnayan
marginnayan's picture

Even a legendary hedge fund manager like George Soros cannot get it right. This fucking global white collar mafia cartel of FED Reserve and Banksters seems to be too strong to even get a jolt. Chuckles.

Mon, 02/17/2014 - 16:45 | 4445573 marginnayan
marginnayan's picture

13 F you see on that fucking sec.gov is 3 months out of date. His current active position may be entirely different than what shows up in that 13 F. You can change your positions entirly in less than 24 hours. Just blast your orders through a army of brokers. That what Jeff Vinik, ex fund manager of once largest mutual fund Magellan did.

Mon, 02/17/2014 - 18:16 | 4445887 maxamus
maxamus's picture

Yawn, this data is so old that it would be like using 2 month old stock charts to daytrade today.

Mon, 02/17/2014 - 19:20 | 4446066 noguano
noguano's picture

You are correct.

Mon, 02/17/2014 - 18:17 | 4445888 BigRedRider
BigRedRider's picture

Soros is planning to die soon so he's getting all his moola together because he's going to take it with him.

 

Hedge accordingly.

Mon, 02/17/2014 - 18:30 | 4445927 Chuck Knoblauch
Chuck Knoblauch's picture

What keeps a slug like Soros alive? Pure spite for not being able to acquire more years on planet Earth. LOL!!!

Mon, 02/17/2014 - 21:59 | 4446487 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

Being a pawn for the New World Order and Demonati Soros has access to life extension technology just like our own patriot Dick Cheney and not to mention nazi sympathizer George H. W. Bush.  Kissinger and Rockefeller seem to last forever too don't they?  Gee, I wonder why?

Tuco

Mon, 02/17/2014 - 22:17 | 4446541 headless blogger
headless blogger's picture

I was thinking on the same line....

Just saw old man Rockefeller in an interview (some kind of propaganda piece) and he looks pretty good for 98!! Relatively speaking that is...He's actually quite gross to look at, but he stood up and was standing pretty straight. I was thinking, Wow not many 98 year olds can move like this guys!!

They're probably the recipients of Palestinians looted organs.

Tue, 02/18/2014 - 00:13 | 4446884 Wahooo
Wahooo's picture

Yup. They ship the refugees in containers to China where they're harvested. Nixon opened it up for the old boys.

Mon, 02/17/2014 - 22:22 | 4446561 satoshi411
satoshi411's picture

Well the 'rich' do have things we 'mortals' don't have,

I remember a few years ago some rich friends, when they needed a 'nanny' for their kids at home, the requirement was a fully licensed RN, and that was just for a couple children.

The pay was over $50/hour and this was several years ago, and they also had salary positions offered as well for live-in domestics, but everybody had to have HEALTH/MEDICAL licenses.

I think its typical for the rich to have DOCTOR on standby at all times, and certainly if a political big-wig, or RICH has a medical problem they are air-lifted to the best hospitals in the world.

*

I remember years ago a gal ( a nurse ) that I knew in Seattle, she got a job at the Gates Mansion, and had to sing a non-disclosure about even working there, but we all knew, it was like  "I can't tell you where I work, but I can give GPS coordinates and tell you how much I make to be a 'nanny'".

Actually it was a DAMN good job for her, essentially 2X what she would make as a  nurse, and tons of holiday time and shift's like a fireman.

*

Most RICH when they get over say 85, have a doctor present 24/7/365, who tests blood pressure, urine, ... et-all many times a day. Surprises simply don't happen. Rich? I would say more than 1/2 billion USD in cash equivalent.

Mon, 02/17/2014 - 23:33 | 4446778 Bazza McKenzie
Bazza McKenzie's picture

Going a bit far when you have to sing the NDA.  Bloody rich people want everything!

Tue, 02/18/2014 - 05:08 | 4447252 satoshi411
satoshi411's picture

Actually it was more involved than working with the secret service,

Can you imagine how paranoid these billionaries are about protecting their spawn, ... I would safely say as protected if not better than secret service in the US protects the Praetorians.

Essentially they don't want anybody to talk, or know, that keeps honest people honest.

In this case, this nurse friend was 'cleaner' than the Virgin Mary.

Secret Service, like CIA are'nt allowed to tell the public or anybody for that matter  that they're secret-service or what your mission is.

The fact that the RICH ( I have already defined, but I will again, some family with more than 1/2 billion USA in CASH ), they can and do use the same security that is used by secret-service and most of the time, when these guys 'retire' they go work in private sector, and then can double dip.

I know navy seals who retired at 36, and then go work for $20k/month all over the world. The retirement was about $4k/month, but when you include fringe like commisary, and medical, its really worth $10k/month.

 

Tue, 02/18/2014 - 10:12 | 4447660 Moe Howard
Moe Howard's picture

1. To retire at 36, you would have to be medically retired, as you must be 17 to join the service, 20 years = 37.

2. $4k a month retirement? Generally, somebody retiring now or the last few years would be not able to collect more than 50% of base pay for 20 years. Taking your $4K number, that is $48K a year.

In order to get $48K in retirement money, the sailor would have to have been paid $96K in base pay at retirement. Since you say you "know" Navy Seals that retired at 36, we have to take into consideration that they retired in the past. I used a basic pay chart from 2011 to determine what rank a person would have to be to be paid $96K in base pay. The closest I could come is an O5 over 18 years, $94280.40 a year. An O5 in the Navy is a Commander, in the other services it is a Lieutenant Colonel.  So you claim to know more than 1 Naval Commander that retired at 20 years or less, joined the Navy at 16 [impossible] or at 17 or older and retired medically early.  I call bullshit on your story, either someone lied to you or you are a liar. Either way, you failed to do your homework.

3. The fringe benefits of retired medical [even if you go to a military hospital for treatment] is not free. It is cheap, but on the other hand, you get what you pay for. Many retired military chose to use the medical plan from the workplace they end up in after retirement if a good plan is offered. The commisary is such a great deal I see active duty soldiers shopping at Walmart outside of Fort Knox every day, at lunch time you might as well not go there, it is so crowded. They aren't buying plastic Chinese widgets, they are food shopping. The Commisary used to be a great deal 20 years ago, not so much now. Very few bargains, generally it is national brands at a slightly cheaper cost. A surcharge is levied to pay for the facilities and overhead. I have taken civilians into the Commisary to see the great deals. All have said the same thing, no big bargins in the end. Occasionally a vendor will dump excess product in the Commisary system, one I remember was Log Cabin syrup, another was Oscar Meyer. All in all , no great deal. The PX system is the same price as local vendors, if you price match with off post. You do save local sales tax. Internet shopping is cheaper and if you do it right, no local tax either.  So I am confused, where are these fringe benefits worth $10K a month? Nowhere actually. Again, you are full of shit. Either someone pumped you full of bullshit, or you are a bullshit artist who did not check the facts.

By the way, getting a military pension and working in the private sector isn't "double dipping". The term "double dipping" means retiring from the military and then getting a job with the Department of Defense as a civilian worker aka civil service, at least in the military sense, which you were using. So again, you are full of shit.

To me, this puts your whole story into doubt.

 

Just another ZH blowhard pretending to be "in the know".

 

Mon, 02/17/2014 - 19:43 | 4446130 Duude
Duude's picture

Anyone figure his 'put' is a hedge? He's had it since 2010.

Mon, 02/17/2014 - 20:20 | 4446234 BrigstockBoy
BrigstockBoy's picture

Why can't Soros, Buffett, Icahn and a few others go down in a horrific plane crash? Wouldn't the world immediately become a much better place?

Mon, 02/17/2014 - 20:25 | 4446249 razorthin
razorthin's picture

It just so happens we once again find ourselves on the back side of a head and shoulders pattern, or in the third peak of a doomed house.  Will the fed interrupt the otherwise inevitable as it did in 2011?

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