The latest 13F filing from Jim Chanos’ firm Kynikos Associates shows new purchases in two stocks and increases in five other stocks. The firm sold out of one stock and reduced its holdings in 10 other stocks. The 13F only shows about $300 million in assets, and the hedge fund manages close to $6 billion. Additionally, Jim Chanos has cautioned investors about extrapolating based on 13Fs. With that in mind we look at some of the position moves:
Adds And Increases
Clint Carlson's Carlson Capital Double Black Diamond fund returned 3.34% in August net of fees. Following this performance, the fund is up 8.82% year-to-date net, according to a copy of the firm's August investor update, which ValueWalk has been able to review. On a gross basis, the Double Black Diamond fund added 4.55% in August Read More
The two new purchases for Kynikos Associates during the third quarter were Starbucks Corporation (NASDAQ:SBUX) and Occidental Petroleum Corporation (NYSE:OXY).
The firm increased its position in SPDR S&P 500 ETF Trust (NYSEARCA:SPY), which was its largest holding at the end of the third quarter. It also increased its position in the iShares Russell 2000 Index (ETF) (NYSE:IWM).
Sell-Offs And Reductions
The one stock Chanos sold out of during the third quarter was Whole Foods Market, Inc. (NASDAQ:WFM). Holdings were reduced in Citigroup Inc. (NYSE:C), JPMorgan Chase & Co. (NYSE: JPM) and Royal Bank of Scotland Group plc (NYSE:RBS) (LON:RBS).