Paulson & Co.

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), John Paulson's Paulson & Co. reported 13 stock positions worth $1.7 billion. Its top holding was Madrigal Pharmaceuticals (MDGL) at 38.1% of the portfolio, followed by Perpetua Resources (PPTA, 16.0%) and Acadian Asset Management (AAMI, 14.3%). Compared with Q3 2024, it opened 1 new position, sold out of 3 and added to 1. The biggest buy was Thryv (THRY, shares +114%) and the biggest sale an exit from Tellurian (TELL).

Most Recent 13F
Q2 2026
Notable People
John Paulson
Location
JERSEY CITY, NJ
CIK
0001035674
Portfolio Value
$1.7B (Q4 2024)
SEC Filing
0001013594-25-000309 ↗ filed Feb 14, 2025

Holdings Value

0$1.0B$2.0B$3.0B$4.0B Q1 2024: $1.4B Q1 2024 Q2 2024: $1.4B Q2 2024 Q3 2024: $1.4B Q3 2024 Q4 2024: $1.7B $1.7B Q4 2024 Q1 2025: $1.7B Q1 2025 Q2 2025: $2.0B Q2 2025 Q3 2025: $3.0B Q3 2025 Q4 2025: $3.3B Q4 2025 Q1 2026: $3.1B Q1 2026 Q2 2026: $2.6B Q2 2026

Holdings 13 stocks · $1.7B
MDGL Madrigal Pharmaceuticals Inc. 38.14% 2,042,000 $630.1M No change
PPTA Perpetua Resources Corp. 16.00% 24,771,542 $264.3M No change
AAMI Acadian Asset Management Inc. filed as BRIGHTSPHERE INVT GROUP INC 14.27% 8,950,121 $235.7M No change
BHC Bausch Health Cos Inc. 12.90% 26,439,035 $213.1M No change
NG Novagold Resources Inc. 5.49% 27,238,061 $90.7M No change
THRY Thryv Holdings Inc. 3.83% 4,280,000 $63.3M Add +114.0%
AEM Agnico Eagle Mines Ltd. 3.71% 783,561 $61.3M No change
THM Intl Tower Hill Mines Ltd. filed as INTERNATIONAL TOWER HILL MIN 1.77% 64,198,980 $29.2M No change
SA Seabridge Gold Inc. 1.43% 2,070,000 $23.6M No change
TMQ Trilogy Metals Inc. 1.01% 14,326,996 $16.6M No change
EQX Equinox Gold Corp. 0.76% 2,500,000 $12.6M No change
IAG Iamgold Corp. 0.58% 1,850,000 $9.5M No change
GOOGL Alphabet Inc. Class A 0.12% 10,000 $1.9M New

Portfolio Sells Q3 2024 → Q4 2024
TELL Tellurian Inc. Sold out 0.00% −2.04
SWN Southwestern Energy Co. Sold out 0.00% −1.10
OPTU Optimum Communications Inc. Class A Sold out 0.00% −0.10

Portfolio Buys Q3 2024 → Q4 2024
THRY Thryv Holdings Inc. Add +114.0% 3.83% +1.42
GOOGL Alphabet Inc. Class A New 0.12% +0.12

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 8$2.6BMDGL, PPTA, AAMI, BHC, THM
Q1 2026 9$3.1BPPTA, MDGL, AAMI, BHC, NG
Q4 2025 9$3.3BMDGL, PPTA, BHC, AAMI, NG
Q3 2025 10$3.0BMDGL, PPTA, BHC, AAMI, NG
Q2 2025 15$2.0BMDGL, PPTA, AAMI, BHC, NG
Q1 2025 14$1.7BMDGL, PPTA, AAMI, BHC, AEM
Q4 2024 13$1.7BMDGL, PPTA, AAMI, BHC, NG
Q3 2024 15$1.4BMDGL, PPTA, AAMI, BHC, NG
Q2 2024 16$1.4BMDGL, AAMI, BHC, PPTA, NG
Q1 2024 18$1.4BMDGL, BHC, AAMI, PPTA, NG