Eton Park's Eric Mindich Is Betting On Cars And Banks (Except For Citigroup)

Last quarter Eric Mindich’s Eton Park bought into Bank of America big time, CIT group, and his former employer, Goldman Sachs.

The former Goldman equities managing director sold almost half of his firm’s shares in Citigroup. He still owns a bunch, 75 million (worth ~300 million), but the bank Mindich is really betting on now is Bank of America. It’s his second largest holding, next to Viacom.

Here’s a break down of the significant moves Eton Park made in the 1st quarter, according to the firm’s recently filed 13F:

Bank of America: bought 20 million shares for ~$350 million

(Eton also bought calls on 15 million shares of Bank of America.)

CIT Group: bought ~5 million shares for ~$200 million

Goldman: bought 1 million shares for ~$170 million

Morgan Stanley: bought 5 million shares for $146 million

Mindich also bought about a million shares of Lear Corp for ~$71 million. Lear supplies car seats and power.

See what the big hedge fund managers bet on last quarter –>

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