When you look at the portfolio of Eric Mindich (Trades, Portfolio), founder of Eton Park Capital Management, one thing that jumps out at you is his preference for stocks in communications, healthcare and energy. He likes other types of stocks, too, but those are clearly his favorites. Combined, they account for more than 38% of his holdings.
He traded in many of those types of stocks in the third quarter.
Mindich added holdings in 18 companies that are new to his portfolio – PowerShares QQQ Trust, Series 1 (ETF) (QQQ, Financial), iShares FTSE/Xinhua China 25 Index (ETF) (FXI, Financial), Alibaba Group Holding Ltd (BABA, Financial), NorthStar Asset Management Group Inc (NSAM, Financial), WisdomTree Japan Hedged Equity Fund (DXJ, Financial), Phillips 66 (PSX, Financial), Family Dollar Stores Inc (FDO, Financial), Time Warner Cable Inc (TWC, Financial), Markit Ltd (MRKT, Financial), Airgas Inc (ARG, Financial), TripAdvisor Inc (TRIP, Financial), CRITEO (CRTO), Informatica Corp (INFA), Rayonier Advanced Materials Inc (RYAM), Harmony Gold Mining Co Ltd (HMY), Dollar General Corp (DG) and Armstrong World Industries Inc (AWI).
That group includes Phillips 66 and Airgas in the energy sector and Time Warner Cable, TripAdvisor, CRITEO and Information Corp in the communications sector.
He bought 5,000,000 shares of PowerShares QQQ Trust, an Illinois-based boutique investment management firm, for an average price of $97.41 per share. The purchase had an impact of 5.8% on his portfolio.
Mindich acquired 4,300,000 shares of iShares FTSE/Xinhua China 25 Index (ETF) for an average price of $40.04 per share. The transaction had a 1.9% impact on his portfolio.
Like more than two dozen other gurus, Mindich invested in Alibaba Group, a Chinese ecommerce company, when Alibaba had its historic IPO in September. Mindich bought 1,202,000 shares of Alibaba for an average price of $89.95 per share. The deal had a 1.3% impact on his portfolio.
Mindich’s purchase of 6,172,047 shares of NorthStar Asset Management Group, a New York-based asset management firm, also had a 1.3% impact on his portfolio. The shares were acquired at an average price of $18.81 per share.
He added to existing holdings in 13 companies – Covidien PLC (COV), Lorillard Inc (LO), Allergan Inc (AGN), Riverbed Technology Inc (RVBD), Thermo Fisher Scientific Inc (TMO), Armstrong World Industries Inc, Cleco Corp (CNL), Rockwood Holdings Inc (ROC), B/E Aerospace Inc (BEAV), Actavis PLC (ACT), SeaWorld Entertainment Inc (SEAS), AerCap Holdings NV (AER) and Liberty Ventures (LVNTA).
Stocks that fit in his preferred categories are Covidien, Allergan, Riverbed Technology, Thermo Fisher Scientific, Actavis and Liberty Ventures.
Mindich bought 3,435,000 shares of Covidien, a Dublin, Ireland-based healthcare products company, for an average price of $88.6 per share. The deal had a 3.45% impact on his portfolio.
He purchased 2,321,483 shares of Lorillard, a North Carolina-based tobacco company, for an average price of $60.6 per share. That transaction had an impact of 1.63% on his portfolio.
His acquisition of 782,251 shares of Allergan, a California-based pharmaceutical company, also had a 1.63% impact on his portfolio. Mindich bought the shares for an average price of $166.09.
Mindich bought 6,050,000 shares of Riverbed Technology, a San Francisco-based technology company, for an average price of $18.8 per share. That purchase had a 1.34% impact on his portfolio.
Divestitures and reductions
Mindich sold his stakes in 11 companies – eBay Inc (EBAY), Micros Systems Inc (MCRS), Comcast Corp (CMCSA), Northstar Realty Finance Corp (NRF), Fusion-io Inc (FIO), Scripps Networks Interactive Inc (SNI), Aspen Insurance Holdings Ltd (AHL), NPS Pharmaceuticals Inc (NPSP), H&R Block Inc (HRB), Reynolds American Inc (RAI) and NiSource Inc (NI).
He parted with fewer of his preferred holdings, but he did sell his stakes in Comcast and NPS Pharmaceuticals.
Mindich sold his 2,245,000-share stake in eBay, a California-based ecommerce company, for an average price of $52.85 per share. That transaction had a -1.7% impact on his portfolio.
He sold 1,585,644 shares in Micros Systems, a Maryland-based maker of hardware and software for the hospitality business, for an average price of $67.82 per share. That sale had a -1.6% impact on his portfolio.
His sale of 1,627,825 shares of Comcast, a mass media company based in Philadelphia, for an average price of $54.8 per share had a -1.3% impact on his portfolio.
Mindich sold portions of his stakes in 11 other companies – Cheniere Energy Inc (LNG), SanDisk Corp (SNDK), Nu Skin Enterprises Inc (NUS), Shire PLC (SHPG), CBS Corp (CBS), Marathon Petroleum Corp (MPC), Spirit AeroSystems Holdings Inc (SPR), Constellation Brands Inc (STZ), Teekay Corp (TK), tw telecom inc (TWTC) and American Realty Capital Properties Inc (ARCP).
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