Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Business Leaders  >  All news

Business Leaders

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
HomeAll newsMost read newsBusiness Leaders Biography
Birthday : 12/14/1955
Place of birth : New York (New York) - United States
Linked companies :
No connection available
Biography : John Paulson is the boss of the investment fund Paulson & Co. founded in 1995. It’s thanks to...

Paulson & Co. Opens Positions in Verizon, CBS; Stands Pat on Gold

share with twitter share with LinkedIn share with facebook
share via e-mail
05/15/2014 | 05:18pm EDT
   By Paul Rekoff 
 

John Paulson's Paulson & Co. hedge fund has taken new positions in Verizon Communications and CBS Corp. but stood pat on its extensive gold holdings in the first quarter, according to a securities filing Thursday.

The biggest new position the firm took in the period came in Verizon, buying 8,742,725 shares worth $415.9 million by the end of the quarter. The hedge fund also initiated a 4,476,600-share stake in CBS, worth $276.6 million.

The firm also increased its holdings in General Motors by 115% (taking a $138 million position by the end of the quarter); Cobalt International Energy Inc. by 108% (owning $499.3 million in shares) and American Airlines Group Inc. by 43% (a $445.2 million stake).

Paulson & Co. also cut its stake in Hess Corp. by 62%, down to 1,750,000 shares.

Paulson has been one of the most bullish investors in gold, but his firm made no change in the size of its holdings in the gold exchange-traded fund SPDR Gold Trust. Its value grew 6.4% in the quarter.

The positions were revealed in a 13F filing with the Securities and Exchange Commission, a quarterly requirement for investors managing more than $100 million. The report indicates the number of shares held and the value of each stake at the end of the quarter.

Write to Paul Rekoff at paul.rekoff@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
AMERICAN AIRLINES GROUP INC. -0.49% 12.19 Delayed Quote.-57.50%
GENERAL MOTORS COMPANY -2.53% 20.78 Delayed Quote.-43.22%
HESS CORPORATION 4.29% 33.3 Delayed Quote.-50.16%
VERIZON COMMUNICATIONS -1.90% 53.73 Delayed Quote.-10.80%
VIACOMCBS INC. -0.53% 14.01 Delayed Quote.-66.62%
WTI 1.22% 20.48 Delayed Quote.-62.40%
share with twitter share with LinkedIn share with facebook
share via e-mail
1  2  3  4  5  6  7  8  9  10Next