Paulson & Co.

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), John Paulson's Paulson & Co. reported 9 stock positions worth $3.1 billion. Its top holding was Perpetua Resources (PPTA) at 29.2% of the portfolio, followed by Madrigal Pharmaceuticals (MDGL, 23.4%) and Acadian Asset Management (AAMI, 13.5%). Compared with Q4 2025, it opened 1 new position, sold out of 1, added to 2 and reduced 1. The biggest buy was Intl Tower Hill Mines (THM, shares +42%) and the biggest sale Madrigal Pharmaceuticals (MDGL, shares −18%).

Most Recent 13F
Q2 2026
Notable People
John Paulson
Location
JERSEY CITY, NJ
CIK
0001035674
Portfolio Value
$3.1B (Q1 2026)
SEC Filing
0001013594-26-000611 ↗ filed May 15, 2026

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 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 $3.1B Q1 2026 Q2 2026: $2.6B Q2 2026

Holdings 9 stocks · $3.1B
PPTA Perpetua Resources Corp. 29.23% 32,347,299 $909.6M No change
MDGL Madrigal Pharmaceuticals Inc. 23.42% 1,392,188 $728.8M Reduce -18.5%
AAMI Acadian Asset Management Inc. 13.54% 7,743,282 $421.4M No change
BHC Bausch Health Cos Inc. 12.71% 73,255,869 $395.6M No change
NG Novagold Resources Inc. 7.86% 27,238,061 $244.6M No change
THM Intl Tower Hill Mines Ltd. filed as INTERNATIONAL TOWER HILL MIN 7.36% 99,573,038 $229.0M Add +41.8%
AEM Agnico Eagle Mines Ltd. 5.11% 783,561 $159.0M No change
THRY Thryv Holdings Inc. 0.74% 8,443,835 $23.1M Add +94.2%
FOLD Amicus Therapeutics Inc. 0.02% 32,400 $469K New

Portfolio Sells Q4 2025 → Q1 2026
MDGL Madrigal Pharmaceuticals Inc. Reduce -18.5% 23.42% −7.06
SOLS Solstice Adv Materials Inc. Sold out 0.00% −2.08

Portfolio Buys Q4 2025 → Q1 2026
THM Intl Tower Hill Mines Ltd. Add +41.8% 7.36% +3.35
FOLD Amicus Therapeutics Inc. New 0.02% +0.02
THRY Thryv Holdings Inc. Add +94.2% 0.74% −0.06

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