- Eric Mindich’s 13F portfolio value decreased from $5.73B to $5.04B this quarter.
- Eton Park Capital Management added NXP Semiconductors, Bank of America, & Biogen while increasing WhiteWave Foods & St. Jude Medical during the quarter.
- The largest three individual stock positions are NXP Semiconductors, WhiteWave Foods, and St. Jude Medical and they add up to ~18% of the portfolio.
Eric Mindich’s 13F portfolio value decreased ~12% this
quarter from $5.73B to $5.04B. Recent 13F reports have shown a total of around 45
positions. The largest five individual stock positions are NXP Semiconductors
(NXPI), WhiteWave Foods (WWAV), St. Jude Medical (STJ), Microsoft Corporation
(MSFT), and Bank of America (BAC) and they add up to ~27% of the 13F portfolio.
Below is a summary of the major moves this quarter:
SPDR Gold ETF (GLD)
Calls: The long position in GLD is now at 17.41% of the entire portfolio. Last
two quarters saw a ~50% reduction but the stake is still huge. Q2 2016 had seen
a 167% increase when the underlying traded between $116 and $127. The original
stake (~6.3% of the portfolio net) was established in Q1 2016 through a
combination of direct long, Calls, and Puts when the ETF traded between $101 and
$122. It currently trades at ~$115.
Powershares QQQ (QQQ)
Puts: The short position in QQQ was the largest position at 17.34% of the
portfolio as of Q1 2016. It was established during that quarter when the
underlying traded between $96 and $112. There was a ~70% reduction the
following quarter when the ETF traded between $102 and $111. Last quarter saw
another ~50% selling when QQQ was between $107 and $119 and the remaining stake
was sold this quarter as the underlying traded between $114 and $121.
Below is a spreadsheet that shows the changes to Eric
Mindich's Eton Park Capital US long portfolio holdings as of Q4 2016. For a
look at how the portfolio has progressed, see our previous update:
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