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Must-know: Eric Mindich and Eton Park’s 4Q13 positions

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Eton Park Capital Management

Eric Mindich’s Eton Park Capital Management posted 22.3% returns in 2013, the fund told investors in a letter cited by news websites. Mindich wrote in the year end investor letter that returns had been driven by Eton Park’s investments in Twenty-First Century Fox (FOXA), cable company Liberty Global (LBTYK), and retailer Dollar Tree (DLTR). Gains also included bets on collateralized debt obligations and residential mortgage-backed securities. Mindich bought shares in Teekay Corp. (TK), General Motors Co. (GM), Allegion Plc (ALLE), and Air Products & Chemicals Inc. (APD).

Eton Park

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“We feel very good about the strength of our investment engine across all areas of our business,” the $10 billion hedge fund said in a letter to investors dated January 16 that was cited by Reuters. “Over the course of 2013, we shifted the portfolio considerably, allocating capital to areas with greater risk/reward prospects,” the letter added.

EP4Q

The fund is upbeat about 2014 and owns some mid-to-large cap stocks that could see prices driven up, the Reuters report said, naming Sotheby’s (BID), Marathon Petroleum (MPC), and Spirit Aerosystems (SPR).

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