John Paulson - Paulson & Co
John Paulson rose to fame with "the greatest trade ever" — a massive, hugely profitable bet against subprime mortgages in 2007–08. He runs Paulson & Co, now largely a family office, with an event-driven style.
John Paulson - Paulson & Co manages a $3B U.S. equity portfolio of 9 positions, based on the latest SEC Form 13F-HR filing (Q1 2026). Below you'll find every holding, the biggest quarter-over-quarter buys and sells, position weights, and an estimated average buy price.
Portfolio Value
$3B
Positions
9
Top 10 Weight
100.00%
Largest Position
29.23%
As of
Q1 2026
Filed
May 15, 2026
Portfolio Composition
Strategy Snapshot
- › Portfolio value fell 4.6% quarter-over-quarter to $3B.
- › Highly concentrated portfolio — the top 10 holdings make up 100.0% of assets.
- › This quarter: 1 new buys, 2 adds, 1 trims, 1 full exits — net buyer
- › Biggest new buy: AMICUS THERAPEUTIC (AM6) ($468K)
- › Biggest exit: Solstice Advanced Matls Inc (SOLS) ($67M position closed)
Changes since Q4 2025
New Buys
Added To / Trimmed
Exited
Current Holdings
| # | Security | Value | % of Portfolio | Avg Buy Price | Price | Gain | vs 52W High | This Qtr | Last Activity | First Buy |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | PERPETUA RESOURCES CORP PPTA | $909M | 29.23% | ~$6.83 | $24.90 | +264.8% | −33.4% | UNCH | Bought Q2 2025 | Q2 2024 |
| 2 | MADRIGAL PHARMACEUTICALS INC MDGL | $728M | 23.42% | ~$273.52 | $499.86 | +82.7% | −18.7% | −18.5% | Sold Q1 2026 | Q2 2024 |
| 3 | ACADIAN ASSET MANAGEMENT INC AAMI | $421M | 13.54% | ~$22.17 | $82.72 | +273.1% | −3.5% | UNCH | Sold Q3 2025 | Q2 2024 |
| 4 | BAUSCH HEALTH COS INC BHC | $395M | 12.71% | ~$6.67 | $4.76 | −28.7% | −45.2% | UNCH | Bought Q4 2025 | Q2 2024 |
| 5 | NOVAGOLD RESOURCES INC NG | $244M | 7.86% | ~$3.46 | $8.10 | +134.1% | −43.8% | UNCH | Bought Q2 2024 | Q2 2024 |
| 6 | INTERNATIONAL TOWER HILL MIN THM | $229M | 7.36% | ~$1.03 | $2.21 | +113.6% | −39.5% | +41.8% | Bought Q1 2026 | Q2 2024 |
| 7 | AGNICO EAGLE MINES LTD AEM | $159M | 5.11% | ~$65.40 | $172.99 | +164.5% | −32.2% | UNCH | Bought Q2 2024 | Q2 2024 |
| 8 | THRYV HLDGS INC THRY | $23M | 0.74% | ~$9.59 | $3.53 | −63.2% | −75.3% | +94.2% | Bought Q1 2026 | Q2 2024 |
| 9 | AMICUS THERAPEUTIC AM6 | $468K | 0.02% | ~$14.46 | — | — | — | NEW | Bought Q1 2026 | Q1 2026 |
Filing History
| Period | Portfolio Value | QoQ Change | Positions | Filed |
|---|---|---|---|---|
| Q1 2026 | $3B | −4.6% | 9 | May 15, 2026 |
| Q4 2025 | $3B | +9.9% | 9 | Feb 17, 2026 |
| Q3 2025 | $2B | +47.6% | 10 | Nov 14, 2025 |
| Q2 2025 | $2B | +15.1% | 15 | Aug 14, 2025 |
| Q1 2025 | $1B | +5.7% | 14 | May 15, 2025 |
| Q4 2024 | $1B | +15.9% | 13 | Feb 14, 2025 |
| Q3 2024 | $1B | +5.3% | 15 | Nov 14, 2024 |
| Q2 2024 | $1B | — | 16 | Aug 14, 2024 |
Frequently Asked Questions
What stocks does John Paulson - Paulson & Co own?
As of Q1 2026, John Paulson - Paulson & Co held 9 U.S.-listed positions worth $3B. The largest is PERPETUA RESOURCES CORP (PPTA) (29.23% of the portfolio). The full holdings list is in the table above.
What is John Paulson - Paulson & Co's largest holding?
PERPETUA RESOURCES CORP (PPTA) — about 29.23% of the equity portfolio as of Q1 2026.
What did John Paulson - Paulson & Co buy recently?
Their biggest new position last quarter was AMICUS THERAPEUTIC (AM6) ($468K).
Do these holdings reflect John Paulson - Paulson & Co's current portfolio?
They reflect the latest 13F filing (Q1 2026), which can lag actual trades by up to 45 days and excludes short positions, cash, and non-U.S. holdings.