This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Eton Park Buys 21st Century Fox, Sothebys, Sells News Corp

Eton Park Capital Management’s latest regulatory filing shows that it stepped into the Sothebys (BID) debate during the third quarter. The company also exited 21st Century Fox and News Corp (NWSA). In all, the firm bought into 12 new stocks and added to its position in five others. It also exited 17 stocks and cut its holdings in 10 others.

The firm’s portfolio appears to have declined in value during the third quarter from $5.2 billion at the end of the previous quarter to $4.5 billion at the end of September.

Eton Park’s buys and increases

Perhaps one of Eton Park’s most notable purchases during the September quarter was Sothebys (BID)’s of which the firm bought almost 2 million shares. Activist investor Dan Loeb has been targeting the auction company for the last few months.

Eton Park also bought 6.5 million call options of 21st Century Fox (FOXAV) and 11.5 million shares of the company, making it one of its top five holdings with more than 8% of its portfolio in the company. Another notable new stock for Eton Park was Family Dollar Stores, Inc. (FDO).

The firm’s major position increases during the September quarter included Moody’s Corporation (MCO), CBS Corporation (CBS) and Spirit AeroSystems Holdings, Inc. (SPR).

Eton Park’s sells and reductions

The fund exited News Corp (NWSA), selling 17 million shares of that company. Eton Park also sold all 13 million of its shares of Sprint Nextel Corporation (S) and all of its 3 million shares of Clearwire Corporation (CLWR), which of course was acquired by Sprint in July.

Major reductions during the September quarter included LIBERTY GLOBAL PLC (LBTYA), although the company still remained one of the firm’s top five holdings. Eton Park also cut its position in Dollar General Corp. (DG), Dollar Tree, Inc. (DLTR), Yandex NV (YNDX) and Baidu Inc ADR (BIDU). It also sold some of its shares of eBay Inc (EBAY), although the company still remains in the firm’s top five positions.

-By Michelle Jones

null

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,150.62 +18.65 0.11%
S&P 500 2,001.40 +2.42 0.12%
NASDAQ 4,559.6670 +6.9080 0.15%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs