i don't like to make holes any bigger than 1 inch. as many as you can pull through. if you went with a 1 1/4 inch hole you could probably get 4 #12 through.i know you can get 2 #12 through a 1/2 inch hole but it's a little tight but still ok.
quit worrying and start drilling.
get yourself an electricians auger bit,you'll thank yourself for that.