Kynikos Associates LP

CIK

1446440

Location

New York, NY

Portfolio Value

Small $312,354,950

Diversification

Highly concentrated

Filing Date

Global Rank

#2,546 / 6,895 ▼ 510

Top Industry

REIT - Specialty 89.7%

3Y Alpha vs SPY

-0.4%

Period ended 2 years ago

Filed Nov 14, 2023 · 2y

7 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+74.9%

SPY

+76.5%

Annualised alpha

-0.4%

Max drawdown

−20.0%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

23 positions · as of Sep 30, 2023 · Δ vs Jun 30, 2023

Top Position

59.4%

+12.2 pts

Top 5

96.3%

+23.2 pts

Top 10

98.4%

+15.5 pts

HHI

4,429

Highly concentrated+1,865

Portfolio Trend

7 quarters · across all stocks

Sector Breakdown

As of Sep 30, 2023

Sector	% Portfolio	Value	Positions
Real Estate	89.0%	$278,143,768	3
Industrials	5.2%	$16,397,165	3
Financial Services	2.5%	$7,755,549	5
Consumer Cyclical	1.7%	$5,361,880	7
Unclassified	0.9%	$2,699,206	1
Technology	0.6%	$1,997,382	4

Last Quarter's Activity

Export CSV

Sep 30, 2023 vs Jun 30, 2023

Added To

Positions the filer increased

2 positions

Ticker	Company	Δ Shares	Shares	Value
JOBY	Joby Aviation, Inc.	+40,900	87,800	$566,310
EQIX	Equinix Inc	+23,000	126,900	$92,162,394
No positions match the current search.

Trimmed

Positions the filer reduced

18 positions

Ticker	Company	Δ Shares	Shares	Value
CVNA	Carvana Co.	−806,600	10,000	$419,800
DLR	Digital Realty Trust, Inc.	−547,000	1,533,700	$185,608,374
RUN	Sunrun Inc.	−510,008	107,300	$1,347,688
DBRG	DigitalBridge Group, Inc.	−420,500	326,100	$5,732,838
LMND	Lemonade, Inc.	−362,700	94,000	$1,092,280
AFRM	Affirm Holdings, Inc.	−278,100	20,000	$425,400
VRT	Vertiv Holdings Co	−203,700	392,600	$14,604,720
SLG	Sl Green Realty Corp	−173,900	10,000	$373,000
W	Wayfair Inc.	−138,600	5,000	$302,850
ENVX	Enovix Corp	−121,000	97,700	$1,226,135
COIN	Coinbase Global, Inc.	−112,700	5,000	$375,400
RCL	Royal Caribbean Cruises Ltd	−39,500	10,000	$921,400
TSLA	Tesla, Inc.	−30,800	4,000	$1,000,880
MSTR	Strategy Inc	−16,300	2,000	$65,656
WING	Wingstop Inc.	−9,100	10,000	$1,798,400
QQQ	Invesco Qqq Trust, Series 1	−4,566	7,534	$2,699,206
NVDA	Nvidia Corp	−3,500	1,500	$65,248
MDB	MongoDB, Inc.	−3,500	1,500	$518,790
No positions match the current search.

New Positions

Positions the filer opened this quarter

1 positions

Ticker	Company	Shares	Value	Open
ABNB	Airbnb, Inc.	5,000	$686,050
No positions match the current search.

Sold Out

Positions the filer fully exited

21 positions

Ticker	Company	Shares	Value
GE	General Electric Co	138,300	$12,124,705
CRM	Salesforce, Inc.	33,800	$7,140,588
IBM	International Business Machines Corp	44,000	$5,887,640
LTH	Life Time Group Holdings, Inc.	210,100	$4,132,667
DASH	DoorDash, Inc.	46,700	$3,568,814
WDFC	Wd 40 Co	17,200	$3,244,780
WYNN	Wynn Resorts Ltd	22,500	$2,376,225
XYZ	Block, Inc.	35,100	$2,336,607
MARA	MARA Holdings, Inc.	162,800	$2,256,408
XPOF	Xponential Fitness, Inc.	125,200	$2,159,700
FUTU	Futu Holdings Ltd	46,500	$1,847,910
NKE	NIKE, Inc.	15,600	$1,721,772
LYV	Live Nation Entertainment, Inc.	18,700	$1,703,757
GDS	GDS Holdings Ltd	130,600	$1,435,294
POOL	Pool Corp	3,600	$1,348,704
UPST	Upstart Holdings, Inc.	37,500	$1,342,875
HAS	Hasbro, Inc.	19,300	$1,250,061
FRPT	Freshpet, Inc.	18,600	$1,224,066
SNOW	Snowflake Inc.	5,000	$879,900
BYND	Beyond Meat, Inc.	48,400	$628,232
ORA	Ormat Technologies, Inc.	7,000	$563,220
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

23 positions · $312,354,950 total · as of Sep 30, 2023

All sectors Consumer Cyclical Financial Services Industrials Real Estate Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
DLR	Digital Realty Trust, Inc. Real Estate	Reduced	1,533,700	-547,000	$185,608,374	−21.7%	59.42%
EQIX	Equinix Inc Real Estate	Added	126,900	+23,000	$92,162,394	+13.2%	29.51%
VRT	Vertiv Holdings Co Industrials	Reduced	392,600	-203,700	$14,604,720	−1.1%	4.68%
DBRG	DigitalBridge Group, Inc. Financial Services	Reduced	326,100	-420,500	$5,732,838	−47.8%	1.84%
QQQ	Invesco Qqq Trust, Series 1	Reduced	7,534	-4,566	$2,699,206	−39.6%	0.86%
WING	Wingstop Inc. Consumer Cyclical	Reduced	10,000	-9,100	$1,798,400	−53.0%	0.58%
RUN	Sunrun Inc. Technology	Reduced	107,300	-510,008	$1,347,688	−87.8%	0.43%
ENVX	Enovix Corp Industrials	Reduced	97,700	-121,000	$1,226,135	−68.9%	0.39%
LMND	Lemonade, Inc. Financial Services	Reduced	94,000	-362,700	$1,092,280	−85.8%	0.35%
TSLA	Tesla, Inc. Consumer Cyclical	Reduced	4,000	-30,800	$1,000,880	−89.0%	0.32%
RCL	Royal Caribbean Cruises Ltd Consumer Cyclical	Reduced	10,000	-39,500	$921,400	−82.1%	0.29%
ABNB	Airbnb, Inc. Consumer Cyclical	NEW	5,000	NEW	$686,050	NEW	0.22%
JOBY	Joby Aviation, Inc. Industrials	Added	87,800	+40,900	$566,310	+17.7%	0.18%
MDB	MongoDB, Inc. Technology	Reduced	1,500	-3,500	$518,790	−74.8%	0.17%
AFRM	Affirm Holdings, Inc. Financial Services	Reduced	20,000	-278,100	$425,400	−90.7%	0.14%
CVNA	Carvana Co. Consumer Cyclical	Reduced	10,000	-806,600	$419,800	−98.0%	0.13%
COIN	Coinbase Global, Inc. Financial Services	Reduced	5,000	-112,700	$375,400	−95.5%	0.12%
SLG	Sl Green Realty Corp Real Estate	Reduced	10,000	-173,900	$373,000	−93.3%	0.12%
W	Wayfair Inc. Consumer Cyclical	Reduced	5,000	-138,600	$302,850	−96.8%	0.10%
BROS	Dutch Bros Inc. Consumer Cyclical	Held	10,000	0	$232,500	−18.3%	0.07%
TBMC	Trailblazer Merger Corp I Financial Services	Held	12,549	0	$129,631	+1.4%	0.04%
MSTR	Strategy Inc Technology	Reduced	2,000	-16,300	$65,656	−89.5%	0.02%
NVDA	Nvidia Corp Technology	Reduced	1,500	-3,500	$65,248	−69.2%	0.02%