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Delivering Alpha: Where Fund Managers Are Placing Their Bets

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Part 6
Delivering Alpha: Where Fund Managers Are Placing Their Bets PART 6 OF 6

What Were Kynikos Associates’ Largest Holdings in 2Q17?

Jim Chanos’s largest holdings in 2Q17

Jim Chanos’s firm, Kynikos Associates, has various ETFs as its largest holdings in 2Q17. The top five holdings of the firm in 2Q17 were the iShares Russell 2000 Index (IWM), the SPDR S&P MidCap 400 ETF Trust (MDY), the SPDR S&P 500 ETF (SPY) Call Option, the iShares Core S&P 500 ETF (IVV), and the iShares MSCI EAFE ETF (EFA) Call Option.

What Were Kynikos Associates’ Largest Holdings in 2Q17?

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These ETFs represent nearly 11.4%, 11.2%, 10.2%, 7.7%, and 7.4%, respectively, of the Kynikos Associates’ portfolio in 2Q17. The huge position in major US ETFs and developed market ETFs indicate that the firm has an optimistic outlook on the US economy (VOO) and other developed economies.

In 2Q17, the firm took a new position in EFA ETF’s call option and in the Vanguard S&P 500 ETF (VOO). In the SPY ETF’s call option, the firm increased its holdings from 4.8% of the firm’s portfolio in 1Q17 to 10.2% of the firm’s portfolio in 2Q17. These are the firm’s top purchases in 2Q17.

Top sectors

Among the various sectors, the firm has a huge position in the finance (XLF) sector. The finance sector represents nearly 84.7% of the firm’s portfolio in 2Q17.

You may be interested to read, What Cooperman Said at the Delivering Alpha Conference.

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