Soros Fund Management has doubled up on a bet that the S&P 500 is headed for a fall.
Within Friday’s 13F filings news was the revelation that the firm, founded by legendary investor George Soros, increased a put position on the S&P 500 ETF SPY by a whopping 154 percent in the fourth quarter, compared with the third.
The value of that holding, the biggest position in the fund, has risen to $1.3 billion from around $470 million. It now makes up a 11.1 percent chunk of all reported holdings. It had been cut to 5.1 percent in the third quarter, from 13.5 percent in the second quarter, which itself marked another dramatic lift on the bearish call.
Soros and his hedge fund aren’t alone if they’re feeling unease at the bull run for markets. It’s been roughly 28 months since a substantial correction for the S&P 500, which is down 0.5 percent for the year after having endured a pullback earlier this month, triggered in part by jitters over emerging markets.
This story originally appeared on MarketWatch.com.