Paulson Adds Goldman Sachs, Other Financial Stakes
17 8월 2010 - 8:30AM
Dow Jones News
Hedge fund manager John Paulson continued to add to his holdings
in the U.S. financial services industry with new stakes in Goldman
Sachs Group Inc. (GS), mortgage insurer PMI Group Inc. (PMI) and
regional bank Popular Inc. (BPOP).
Paulson, who runs Paulson & Co., reported in a quarterly
filing with the Securities and Exchange Commission that he added a
new position with 30 million Bank of America Corp. (BAC) warrants,
increased his holdings in common stock of Wells Fargo & Co.
(WFC) by 4.5 million shares to 17.5 million, and raised his
holdings in Hartford Financial Services Group Inc. (HIG) by more
than 31 million shares to 44 million.
But Paulson reported reducing its stake in CIT Group Inc. (CIT)
by just over one million shares, to 3.3 million.
Paulson was among the first big hedge fund managers to build a
stake in banks late last year, reversing course after winning big
in betting against subprime mortgages during the financial
meltdown. Last year, for example, he bought Citigroup Inc. (C)
stock and continues to hold more than 500 million shares.
Over the last three months, Paulson bought 1.1 million Goldman
Sachs shares, more than 66 million shares in Puerto Rico bank
Popular, and 5 million shares in PMI.
Paulson maintained his holdings in gold companies, and added a
variety of sectors to his portfolio, including 5 million shares in
McClatchy Co. (MNI) and 8 million shares in Strategic Hotels &
Resorts Inc. (BEE). He increased his stake in large drug maker
Pfizer Inc. (PFE) by 7.2 million shares, to 22.8 million, but
reduced his holdings in Boston Scientific Corp. (BSX) by more than
19 million shares, to 80 million.
Paulson added several other companies in healthcare and
technology, including stakes in inVentiv Health Inc. (VTIV), Mylan
Inc. (MYL) and Odyssey Healthcare Inc. (ODSY).
-By Matthias Rieker, Dow Jones Newswires; 212-416-2471;
matthias.rieker@dowjones.com
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