Jim Chanos's top holdings (August 2025) include SPDR Series Trust - SPDR S&P Regional Banking ETF (KRE), an exchange-traded fund designed to provide exposure to regional banking companies.

Jim Chanos is the founder and president of Kynikos Associates, a firm known for its expertise in forensic accounting and identifying companies it believes are overvalued. Kynikos Associates focuses on in-depth fundamental research to uncover potential accounting irregularities or unsustainable business models.

SPDR Series Trust - SPDR S&P Regional Banking ETF (KRE)

The SPDR S&P Regional Banking ETF, managed by SPDR Series Trust, aims to replicate the performance of the S&P Regional Banks Select Industry Index. It offers investors exposure to a diverse basket of regional banking institutions across the United States. The SPDR Series Trust, which sponsors this ETF, carries a market capitalization of $8.5 million. This holding in Jim Chanos's portfolio is currently worth $2.99 million.
Here's an overview of Jim Chanos's trades in SPDR Series Trust - SPDR S&P Regional Banking ETF:

Invesco Capital Management LLC - Invesco QQQ Trust Series 1 (QQQ)

The Invesco QQQ Trust Series 1, offered by Invesco Capital Management LLC, tracks the Nasdaq-100 Index, which includes 100 of the largest non-financial companies listed on the Nasdaq Stock Market. This ETF is widely recognized for its concentration in leading technology and growth-oriented companies. Invesco Capital Management LLC, the entity behind the QQQ, has a market capitalization of $15.29 million. The current value of Jim Chanos's position in QQQ is $1.21 million.
Here's an overview of Jim Chanos's trades in Invesco Capital Management LLC - Invesco QQQ Trust Series 1:

BlackRock Institutional Trust Company N.A. - iShares Short Treasury Bond ETF (SHV)

The iShares Short Treasury Bond ETF, managed by BlackRock Institutional Trust Company N.A., focuses on U.S. Treasury bonds that have remaining maturities of less than one year. This ETF provides a low-duration option for investors seeking exposure to the short end of the Treasury yield curve. BlackRock Institutional Trust Company N.A. maintains a substantial market capitalization of $2.65 billion. Jim Chanos's position in this ETF is currently valued at $300.87 thousand.
Here's an overview of Jim Chanos's trades in BlackRock Institutional Trust Company N.A. - iShares Short Treasury Bond ETF:

SPDR Series Trust - SPDR Bloomberg 1-3 Month T-Bill ETF (BIL)

The SPDR Bloomberg 1-3 Month T-Bill ETF, also from SPDR Series Trust, tracks the Bloomberg US Treasury Bills 1-3 Month Index. It offers a way to invest in very short-term U.S. Treasury bills, providing liquidity and exposure to government debt with minimal interest rate risk. The SPDR Series Trust has a market capitalization of $8.5 million. The position is currently valued at $300.48 thousand in Jim Chanos's portfolio.
Here's an overview of Jim Chanos's trades in SPDR Series Trust - SPDR Bloomberg 1-3 Month T-Bill ETF:

Trailblazer Merger Corp I - Ordinary Shares - Class A (TBMC)

Trailblazer Merger Corp I is a special purpose acquisition company (SPAC) established to pursue a merger or other business combination. SPACs are formed to raise capital through an initial public offering (IPO) with the primary goal of acquiring an existing private company. A discounted cash flow analysis for the company indicates a value of -$0.31. Jim Chanos's holding in Trailblazer Merger Corp I is currently worth $146.32 thousand.
Here's an overview of Jim Chanos's trades in Trailblazer Merger Corp I - Ordinary Shares - Class A: