Eton Park Capital Management has published its 13F for the period ending December 31 2012. The hedge fund, which was founded by Eric Mindlich in 2004, made a brave move in the fourth quarter of 2012, shedding its entire position in Apple Inc. (NASDAQ:AAPL) during the period.
The hedge fund had a 250,000 share position in Apple Inc. (NASDAQ:AAPL) in its last 13F filing. It had gotten rid of all of them by the end of 2012. Though it’s unclear what the price was when the company got out of that position, it is certain that the firm got out before the huge losses in January. That was certainly a good bet by the firm.
Khrom Capital was up 32.5% gross and 24.5% net for the first quarter, outperforming the Russell 2000's 21.2% gain and the S&P 500's 6.2% increase. The fund has an annualized return of 21.6% gross and 16.5% net since inception. The total gross return since inception is 1,194%. Q1 2021 hedge fund letters, conferences and more Read More
The firm added a $131,123,378 position in Sprint Nextel Corporation (NYSE:S) in the last three months of 2012. That came in the form of 23,125,816 shares in the firm. Sprint Nextel shares made up 2.74% of the firm’s entire portfolio at the end of 2012.
Eton Park also added a 1,623,750 share position in Research In Motion Ltd (NASDAQ:BBRY) (TSE:BB) in the last three months of 2012. The firm’s new holding in the company is worth $ 19,241,438 and makes up 0.4% of the firm’s entire portfolio.
The firm’s biggest equity holding at the end of 2012 was in News Corp (NASDAQ:NWSA) (NASDAQ:NWS). The firm held 28,100,000 shares in the company on December 31st, valued at $716,831,006. In that quarter, the company added 9,100,000 shares of News Corp (NASDAQ:NWSA) (NASDAQ:NWS), bringing it to 14.96% of the company’s portfolio.
An unusual holding comes in second place of the company. Eton Park Capital Management has $530,893,000 in the iPath S&P 500 VIX Short-Term Futures ETN. The investment makes up 11.08% of the firm’s portfolio. The firm now holds 16,700,000 shares in the index, and increased that position by 13,325,000 during the last three months of last year.
Dollar General Corp. (NYSE:DG) was the firm’s third largest position at the end of 2012. Eton Capital added 1,500,000 shares of the company in the last three months of the year, bringing its total position to 6,500,000 shares with a total worth of $286,585,001. Dollar General Corp. (NYSE:DG) made up 5.98% of the company’s portfolio.
Eton Park Capital Management also dropped a large amount of calls in Morgan Stanley (NYSE:MS), News Corp (NASDAQ:NWSA) (NASDAQ:NWS), and Citigroup Inc. (NYSE:C). The market value of the firm’s equity positions was $4,790,831,025 at the end of the year. The company added 12 new stocks, and added to its positions in 10 new stocks. Eton Capital reduced holdings in 9 stocks and its top 10 holdings at the end of the year made up 49% of its entire portfolio.