Unlike most other funds reporting their 13F filings today, Jim Chanos’ Kynikos Associates actually bought shares of Apple Inc. (NASDAQ:AAPL) during the first quarter of the year. In all, the firm only bought three new stocks during the first quarter. It increased its stake in seven others, sold out of four stocks and cut its holdings in 10 others.

Jim Chanos China Presentation

The firm’s top five stocks at the end of March were iShares FTSE / Xinhua China 25 Index (ETF) (NYSEARCA:FXI), SanDisk Corporation (NASDAQ:SNDK), KKR & Co. L.P. (NYSE:KKR), Vanguard MSCI Europe ETF (NYSEARCA:VGK) and Citigroup Inc (NYSE:C).

Chanos’ New Purchases

Let’s start with the stock everyone’s talking about. Chanos only bought about 29,000 shares of Apple Inc. (NASDAQ:AAPL), but it’s enough to turn heads as many other funds sold out of the company as its stock value plummeted during the first quarter.

The other two new stocks for Kynikos Associates during the first quarter were iShares FTSE / Xinhua China 25 Index (ETF) (NYSEARCA:FXI), which became the firm’s top holding by the end of March, and CNH Global NV (NYSE:CNH).

Chanos’ Major Increases

The firm increased its holdings in Citigroup Inc (NYSE:C), JPMorgan Chase & Co. (NYSE:JPM) and Mastercard Inc (NYSE:MA).

Chanos’ Major Sell-Offs

During the first quarter, the firm exited Huntington Ingalls Industries Inc (NYSE:HII), Rackspace Hosting, Inc. (NYSE:RAX), Deutsche Bank AG (NYSE:DB) and Starz (NASDAQ:STRZA). Shares of Rackspace Hosting, Inc. (NYSE:RAX) took a pounding in trading on Wednesday, losing almost 6 percent in value.

Chanos’ Major Reductions

The firm reduced its holdings in SanDisk Corporation (NASDAQ:SNDK), McDonald’s Corporation (NYSE:MCD), Deere & Company (NYSE:DE) and Amazon.com, Inc. (NASDAQ:AMZN).