{"id":566823,"date":"2010-05-17T15:56:31","date_gmt":"2010-05-17T19:56:31","guid":{"rendered":"http:\/\/www.businessinsider.com\/eric-mindich-eton-park-cars-and-banks-bank-of-america-citigroup-2010-5"},"modified":"2010-05-17T15:56:31","modified_gmt":"2010-05-17T19:56:31","slug":"eton-parks-eric-mindich-is-betting-on-cars-and-banks-except-for-citigroup-bac-c-gs-ms-cit","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/566823","title":{"rendered":"Eton Park’s Eric Mindich Is Betting On Cars And Banks (Except For Citigroup) (BAC, C, GS, MS, CIT)"},"content":{"rendered":"

\"eric-midich\"<\/p>\n

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

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.<\/p>\n

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

Bank of America: bought 20 million shares for ~$350 million<\/p>\n

(Eton also bought calls on 15 million shares of Bank of America.)<\/p>\n

CIT Group: bought ~5 million shares for ~$200 million<\/p>\n

Goldman: bought 1 million shares for ~$170 million<\/p>\n

Morgan Stanley: bought 5 million shares for $146 million<\/p>\n

Mindich also bought about a million shares of Lear Corp<\/a> for ~$71 million. Lear supplies car seats and power.<\/p>\n

See what the big hedge fund managers bet on last quarter –><\/a><\/p>\n

Join the conversation about this story »<\/a><\/p>\n

See Also:<\/b><\/p>\n