Paulson Boosts Holding In Bank Of America, Hartford Financial; Buys Stake In MGM Mirage, Beazer Home

updated | Author's Website

(RTTNews) – U.S. equities investment portfolio of hedge fund manager John
Paulson’s Paulson & Co. Inc. stood at $21.15 billion in the first quarter of 2010, up from $19.79 billion in the quarter ended December 31, 2009.

Paulson has increased his stake in Bank of America Corp. (BAC) to 167.79 million shares during the March quarter, from 151.03 million shares held a quarter earlier. At the end of September 2009 quarter, Paulson held 159.79 million shares of the Charlotte, North Carolina-based company.

Paulson’s stake in SPDR Gold Trust remained at 31.5 million shares, but valued higher at $3.43 billion at first quarter end, versus $3.38 billion worth at December-end.

Stake in Hartford Financial Services Group Inc. (HIG) has been sharply increased to 12.75 million shares from 2.75 million shares held at the end of December 2009. Stake in XTO Energy Inc. (XTO) was up to 13 million shares during the first quarter of 2010, compared to 10 million shares held a quarter earlier.

Paulson revealed new stakes in Houston, Texas-based Apache Corp. (APA) and Barrick Gold Corp. (ABX). As of March 31, 2010, Paulson held 3.4 million shares of Apache and 400,000 shares of Barrick Gold. Paulson also reported new stake of 5 million shares in Atlanta, Georgia-based homebuilder Beazer Home USA Inc. (BZH).

Paulson has also bought 4 million shares in Boyd Gaming Corp. (BYD), 3.67 million shares of Dex One Corp. (DEXO), 3.30 million shares in Devon Energy Corp. (DVN), 6 million shares in Family Dollar Stores Inc. (FDO), 40 million shares of MGM Mirage (MGM), 11.37 million shares in Mylan, Inc. (MYL), 25 million shares in Novell Inc. (NOVL) during the March quarter.

Paulson has maintained his ownership of 99.13 million shares in Boston Scientific Corp. (BSX), 44 million shares of Comcast Corp. (CMCSA), 17 million shares of Capital One Financial Corp. (COF), and 506.7 million shares in Citigroup Inc. (C).

Ownership in JPMorgan Chase & Co. (JPM), Suntrust Bank Inc. (STI), Regions Financial Corp. (RF), Wells Fargo & Co. (WFC) were also maintained during the March quarter.

Paulson has sold his entire 1.52 million share holding in Dr Pepper Snapple Group, Inc. (DPS) during the first three months of 2010.

Approximately 5 million shares in Kraft Food Inc. (KFT) held at December 2009 have been sold during the March quarter, as no stake has been reported in the latest filing.

Paulson, who held nearly 9 million shares of Philip Morris International, Inc. (PM) as of December 2009, reported no stake for March quarter in the New York-based company.

Paulson has slashed his holding in Marshall & Ilsley Corp. (MI) to 24.05 million shares, from 26.05 million shares held three months earlier. Stake in Mead Johnson Nutrition Co. (MJN) has also been cut to 2 million shares from 4 million shares held at 2009-end.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2010 RTTNews.com, Inc. All Rights Reserved

You may also like: