PAULSON & CO. INC.
CIK
1035674
Location
JERSEY CITY, NJ
Portfolio Value
Mid
$3,261,997,202
Diversification
Moderately concentrated
Filing Date
Global Rank
#763
/ 8,420
▲ 168
Top Industry
Biotechnology
30.5%
3Y Alpha vs SPY
+12.5%
Period ended 5 months ago
Filed Feb 17, 2026 · 4mo
24 quarters · since Mar 2020
Clone Performance
Jun 2023–Jun 2026 · vs SPYHypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.
Cloned portfolio
+137.3%
SPY
+76.5%
Annualised alpha
+12.5%
Max drawdown
−23.9%
Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.
Portfolio Concentration
9 positions · as of Dec 31, 2025 · Δ vs Sep 30, 2025Top Position
30.5%
+1.0 pts
Top 5
89.0%
+1.5 pts
Top 10
100.0%
0.0 pts
HHI
1,972
Moderately concentrated+115
Portfolio Trend
24 quarters · across all stocks
Sector Breakdown
As of Dec 31, 2025| Sector | % Portfolio | Value |
|---|---|---|
| Healthcare | 46.1% | $1,503,486,650 |
| Basic Materials | 41.9% | $1,368,276,525 |
| Financial Services | 11.2% | $363,934,254 |
| Technology | 0.8% | $26,299,773 |
Last Quarter's Activity
Export CSVTrimmed
Positions the filer reduced
1 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| MDGL | Madrigal Pharmaceuticals, Inc. | −200,001 | 1,707,522 | $994,358,361 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter
1 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| SOLS | Solstice Advanced Materials Inc. | 1,395,787 | $67,807,332 | |
| No positions match the current search. | ||||
9 positions ·
$3,261,997,202 total
· as of Dec 31, 2025
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| MDGL |
Madrigal Pharmaceuticals, Inc.
Healthcare
|
Reduced | 1,707,522 | $994,358,361 | 30.48% | |
| PPTA |
Perpetua Resources Corp.
Basic Materials
|
Held | 32,347,299 | $783,128,108 | 24.01% | |
| BHC |
Bausch Health Companies Inc.
Healthcare
|
Added | 73,255,869 | $509,128,289 | 15.61% | |
| AAMI |
Acadian Asset Management Inc.
Financial Services
|
Held | 7,743,282 | $363,934,254 | 11.16% | |
| NG |
Novagold Resources Inc
Basic Materials
|
Held | 27,238,061 | $253,858,728 | 7.78% | |
| AEM |
Agnico Eagle Mines Ltd
Basic Materials
|
Held | 783,561 | $132,837,096 | 4.07% | |
| THM |
International Tower Hill Mines Ltd
Basic Materials
|
Held | 70,239,388 | $130,645,261 | 4.01% | |
| SOLS |
Solstice Advanced Materials Inc.
Basic Materials
|
NEW | 1,395,787 | $67,807,332 | 2.08% | |
| THRY |
Thryv Holdings, Inc.
Technology
|
Added | 4,347,070 | $26,299,773 | 0.81% |