Mindich's Eton Park Sold Goldman Sachs Stake Last Quarter, Bought Potash

Eric Mindich’s Eton Park Capital Management LP and John Paulson’s hedge fund sold their stakes in Goldman Sachs Group Inc. during the third quarter.

Eton Park previously held 2 million shares of New York- based Goldman Sachs, according to a filing today with the U.S. Securities and Exchange Commission. Paulson & Co. sold 1.1 million shares of the bank, a separate filing shows.

Mindich, 43, is a former Goldman Sachs partner who began New York-based Eton Park in 2004 with $3.5 billion, one of the biggest startups in the hedge-fund industry. Paulson, who oversees New York’s Paulson & Co., became a billionaire by betting against the U.S. mortgage markets during the credit crisis that started with the subprime collapse.

Eton Park held onto its 15 million shares in Morgan Stanley, 21.1 million shares of Bank of America Corp. and 60.5 million shares of Citigroup Inc. according to data compiled by Bloomberg.

Eton Park bought 7.75 million shares of Potash Corp. of Saskatchewan Inc. valued at $1.12 billion, the filing shows. BHP Billiton Ltd., the world’s largest mining company, in August made a $130-a-share hostile takeover offer for Saskatoon-based Potash, the biggest fertilizer company. The bid was rejected by Potash as too low, and this month was blocked by the Canadian government. Shares of Potash have jumped 22 percent since Aug. 16, the day before BHP’s unsolicited offer.

Money managers who oversee more than $100 million in equities must file a Form 13F with the Securities and Exchange Commission within 45 days of each quarter’s end to show their U.S.-listed stocks, options and convertible bonds. The filings don’t show non-U.S. securities or how much cash the firms hold.

To contact the reporter on this story: Sree Vidya Bhaktavatsalam in Boston at sbhaktavatsa@bloomberg.net

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.