Jim Chanos Adjusts Portfolio, Cuts Stake in SPDR S&P Regional Banking ETF

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Insights into the Renowned Short Seller's Latest 13F Filings

Renowned for his short-selling acumen, Jim Chanos (Trades, Portfolio) has made a name for himself on Wall Street by identifying and capitalizing on overvalued securities. His latest 13F filing for the third quarter of 2023 offers a glimpse into his long positions, revealing strategic moves in a diverse portfolio. Chanos, who founded Kynikos Associates in 1985, is known for his meticulous research and his ability to spot fundamental discrepancies in market valuations. His investment philosophy is rooted in the belief that while stocks have unlimited potential to rise, they can also plummet to zero—a scenario he has witnessed more often than the former.

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New Additions to the Portfolio

During the third quarter, Jim Chanos (Trades, Portfolio) expanded his portfolio with a new position:

  • His most notable new buy was INVESCO QQQ Trust (QQQ, Financial), acquiring 2,134 shares. This addition represents 0.24% of the portfolio, with a total value of $764,550.

Exiting Positions

Chanos also decided to exit several holdings completely:

  • He sold all 61,774 shares of Enviva Inc (EVA, Financial), impacting the portfolio by -0.13%.
  • All 15,000 shares of UTA Acquisition Corp (UTAA, Financial) were liquidated, resulting in a -0.03% portfolio impact.

Significant Reductions

Notably, Chanos reduced his stake in certain stocks:

  • The most significant reduction was in SPDR S&P Regional Banking ETF (KRE, Financial), where he cut his position by 50,719 shares. This resulted in a -50.46% decrease in shares and a -0.39% impact on the portfolio. KRE traded at an average price of $44.59 during the quarter and has seen a -4.80% return over the past three months and a -24.06% year-to-date performance.

Portfolio Overview

As of the third quarter of 2023, Jim Chanos (Trades, Portfolio)'s portfolio comprised 32 stocks. The top holdings were 0.65% in SPDR S&P Regional Banking ETF (KRE), 0.24% in INVESCO QQQ Trust (QQQ, Financial), 0.09% in iShares Short Treasury Bond ETF (SHV, Financial), 0.09% in SPDR Bloomberg 1-3 Month T-Bill ETF (BIL, Financial), and 0.05% in Inflection Point Acquisition Corp II (IPXXU, Financial). The investments are predominantly concentrated in the Financial Services sector, which is the sole industry among the 11 represented in his portfolio.

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This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.

Disclosures

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