Eric Mindich’s Eton Park Capital Management was another notable hedge fund invested in SPY during the third quarter. Mindich also held a large position in call options on SPDR Gold Shares (NYSEArca: GLD), which was offset by a smaller position of put options on the ETF.
However, Eton Park unloaded its entire 813,000 share position in the ETF. Jamie Dinan’s York Capital also sold its one million share position in GLD. John Paulson, despite clearing out 11 million of his position in GLD, still remains the largest holder of the ETF, with 20 million shares. [Paulson Scales Back Gold ETF Position]
Paul Tudor Jones II’s Tudor Investment has GLD as its second largest holding. The iShares MSCI Japan Index (NYSEArca: EWJ) was Tudor Investment’s largest holding. The firm also had put options on the gold miners, and call options on both Materials Select Sector SPDR (XLB) and iShares FTSE China 25 Index Fund (NYSEArca: FXI).
Richard Perry, founder of Perry Capital, had $1 billion in puts on IWM, which was half of the total value of his $2.4 billion U.S. equity portfolio.
Max Chen contributed to this article.