Long positions from a short seller
Hedge fund manager Jim Chanos reveals some of his holdings in a regulatory filing.
As of June 30, Chanos' hedge fund, Kynikos Associates, owns 22 long stocks with a total value of $257 million. He is said to manage more than $6 billion.
Chanos has been called the Warren Buffett of short selling. He looks at a combination of the macro picture and the business itself in his short thesis. His latest shorts include CONSOL energy (CNX), Petrobras (PBR), Hewlett-Packard (HPQ), Coinstar (CSTR) and Banco Santander (STD) -- many of which are considered value by other value investors.
In his portfolio, Chanos owns a lot of index exchange-traded funds (ETFs), such as SPDR S&P 500 (SPY) and SPDR S&P MidCap 400 (MDY). He also owns Ishares Russell 2000 Index (IWM) and Ishares MSCI Emerging Markets Index (EEM). He sold Ishares MSCI EAFE Small Cap ETF (SCZ) and SPDR S&P Emerging Markets Small Cap (EWX). His largest sell during the second quarter was BP (BP).
Here are the sector weightings of his portfolio:
| Financials | 18.8% |
| Consumer Services | 16.8% |
| Technology | 15.4% |
| Industrials | 11.3% |
| Consumer Goods | 5.7% |
| Oil & Gas | 4.4% |
The top five holdings of Jim Chanos:
- SPDR S&P 500 ETF (SPY) - 165,900 shares, 8.8% of the total portfolio. Shares added by 320%
- SPDR S&P MidCap 400 ETF (MDY) - 116,900 shares, 7.8% of the total portfolio. Shares added by 181.01%
- Deere & Company (DE) - 223,850 shares, 7% of the total portfolio. Shares added by 264.87%
- Visteon Corporation (VC) - 392,400 shares, 5.7% of the total portfolio. Shares added by 219.54%
- Whole Foods Market (WFM) - 135,600 shares, 5% of the total portfolio. New Position
New Purchase: Whole Foods Market
Chanos initiated holdings in Whole Foods Market. His purchase prices were between $81.56 and $96.63, with an estimated average price of $87.69. The impact to his portfolio from this purchase was 5%. His holdings were 135,600 shares as of June 30. Whole Foods has a market cap of $17.25 billion; its shares were traded at around $94.45 with a price-to-earnings ratio of 40.2 and price-to-sales ratio of 1.7. Its dividend yield is 0.6%. Whole Foods had an annual average earnings growth of 11.2% over the past 10 years. GuruFocus assigned Whole Foods the business predictability rank of 3-stars.
New Purchase: Chicago Bridge & Iron
Chanos initiated holdings in Chicago Bridge & Iron Co. (CBI). His purchase prices were between $33.62 and $45.29, with an estimated average price of $39.55. The impact to his portfolio from this purchase was 4.3%. His holdings were 293,800 shares as of June 30. Chicago Bridge & Iron designs, builds, repairs and modifies steel tanks and other steel plate structures and associated systems. The company has a market cap of $3.6 billion; its shares were traded at around $37.32 with a price-to-earnings ratio of 13.5 and price-to-sales ratio of 0.8. The dividend yield is 0.5%. Chicago Bridge & Iron had an annual average earnings growth of 16.4% over the past 10 years.
New Purchase: Oracle Corporation
Chanos initiated holdings in Oracle (ORCL). His purchase prices were between $25.75 and $29.68, with an estimated average price of $27.83. The impact to his portfolio from this purchase was 2.9%. His holdings were 250,000 shares as of June 30. Oracle is one of the world's suppliers of software for information management. The company has a market cap of $154.38 billion; its shares were traded at around $31.5715 with a price-to-earnings ratio of 13.5 and price-to-sales ratio of 4.2. The dividend yield of Oracle stocks is 0.8%. Oracle Corporation had an annual average earnings growth of 18.1% over the past 10 years. GuruFocus assigned Oracle Corporation the business predictability rank of 5-star.
New Purchase: Microsoft Corporation
Chanos initiated holdings in Microsoft (MSFT). His purchase prices were between $28.57 and $32.4, with an estimated average price of $30.45. The impact to his portfolio from this purchase was 2.7%. His holdings were 229,500 shares as of June 30. Microsoft develops, manufactures, licenses, and supports a wide range of software products for a multitude of computing devices. Microsoft has a market cap of $255.57 billion; its shares were traded at around $30.24 with a price-to-earnings ratio of 10.9 and price-to-sales ratio of 3.5. The dividend yield of Microsoft stocks is 2.6%. The company had an annual average earnings growth of 13.6% over the past 10 years. GuruFocus assigned Microsoft the business predictability rank of 5-star. (Microsoft owns and publishes Top Stocks, an MSN Money site.)
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