John Paulson‘s hedge fund trimmed its equity book to $2.58 billion in the second quarter, down from $3.11 billion in Q1, according to the firm’s 13F filed on Friday. The number of disclosed positions shrank to eight from nine as the billionaire investor exited two names entirely.
GOOGL stock is moving. See the real-time price action here.The biggest surprise: Paulson sold his entire 783,561-share stake in gold miner Agnico Eagle Mines (NYSE: AEM ), a full reversal for a fund whose identity has been built on precious-metals conviction since the 2008 financial crisis.
He also zeroed out his small Amicus Therapeutics (NASDAQ: FOLD ) position, dumping all 32,400 shares.
Paulson made a rare move outside his usual healthcare-and-gold playbook, opening a tiny 5,000-share stake in Alphabet (NASDAQ: GOOGL ) worth $1.77 million, just 0.07% of the portfolio.
Elsewhere, Paulson doubled down on his gold thesis, boosting International Tower Hill Mines (AMEX: THM ) by nearly 4.9 million shares to 104.5 million total — a roughly 5% increase that pushed the position to 8.07% of the portfolio.
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3 min read Read this articleHoldings in NovaGold Resources (AMEX: NG ) and Perpetua Resources (NASDAQ: PPTA ) were left unchanged at 6.31% and 26.07%, respectively.
Latest Private Market Opportunities Join 400,000+ InvestorsOn the trimming side, Paulson cut Acadian Asset Management (NYSE: AAMI ) by 1.9 million shares — roughly a 25% reduction — dropping it to 16.23% of the book, while paring Madrigal Pharmaceuticals (NASDAQ: MDGL ) by about 52,000 shares.
Even after the trim, Madrigal remains the fund’s top holding at 27.94%, with Bausch Health Co. (NYSE: BHC ) steady at 14.02%.
The bottom line: Madrigal and Perpetua alone still account for more than 54% of Paulson’s disclosed book, a portfolio that remains heavily concentrated in biotech turnaround bets and gold-mining exposure.
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