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You might remember John Paulson for his bets against subprime mortgages.

However, there’s much more to him than just that. Paulson manages Paulson & Company, a hedge fund that last disclosed an equity portfolio worth more than $19.6 billion, mainly allocated to healthcare stocks -- 42 percent of the total portfolio.


For three consecutive quarters, Shire PLC (ADR) (NASDAQ: SHPG) has occupied the first spot in Paulson’s portfolio in terms of market value. His 8,328,304 shares are worth almost $2 billion and account for more than 10 percent of his total equity portfolio. The position remained unchanged over the first quarter.

Actavis plc (NYSE: ACT) acquired Allergan, Inc. (NYSE: AGN) in mid-March.At some point in the quarter, the fund got rid of all of its 6.37 million Allergan shares, much of which it had acquired over the previous quarter, betting on a merger.Meanwhile, the firm boosted its exposure to Actavis by 261 percent to 5,640,788 shares worth $1.67 billion. This makes it its second-largest stake, accounting for 8.55 percent of the total portfolio.

Covidien plc (NYSE: COV), which represented 5.31 percent of Paulson’s fourth quarter portfolio, was acquired by Medtronic in late-January. At some moment over the first month of the year, the firm disposed of its 10,047,500 shares.

Other Big Stakes

Paulson’s largest new purchase was American International Group Inc (NYSE: AIG). Over the quarter, the investor bought 14,603,200 shares, worth about $800 million.

Another non-healthcare stock in Paulson’s portfolio is Time Warner Cable Inc (NYSE: TWC). His 8.696 million shares position stands third in his list in terms of worth, valued at $1.3 billion.

DIRECTV (NASDAQ: DTV) came in sixth. The firm’s 11.4 million shares were worth more than $970 million by the time of the filing and accounted for almost 5 percent of the total portfolio.

Posted-In: 13F John PaulsonBiotech Long Ideas Health Care Hedge Funds Trading Ideas General


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