1. How to use GuruFocus - Tutorials
  2. What Is in the GuruFocus Premium Membership?
  3. A DIY Guide on How to Invest Using Guru Strategies
Articles (245) 

John Paulson Trims BAC Position, Still Bullish on Gold

February 15, 2011 | About:

Investors eagerly awaiting John Paulson's 13F filing were surprised to learn that he trimmed his stake in Bank of America (NYSE:BAC).

Paulson who gained fame for shorting sub-prime derivatives in 2007, has had a bullish bias towards financial companies since 2009.

However, Paulson trimmed his stake in BAC from 137.8 million shares to 123.9 million shares in Q4. BAC is still Paulson's third largest stock holding despite reducing his position by 10%.

Paulson's second biggest stock holding is Citi (NYSE:C) where Paulson reduced his holdings by only 2.47%. His funds still own 413.5 million shares of Citi.

It is also interesting to note that Paulson is still bullish on the price of gold. The two largest holdings in his funds are the SPDR Gold Trust (GLD) with a market value of $4.37 billion and Anglogold Ashanti (NYSE:AU) with a $2.01 billion stake.

Assets under management for Paulson's funds grew to $30 billion in the fourth quarter meaning that his two gold positions make up 20% of his total assets.

At a speech in September 2010, Paulson noted that the price of gold could hit between $2400-$4000/oz due to monetary expansion.


Rating: 3.0/5 (3 votes)


Yswolinsky - 6 years ago    Report SPAM
I wonder if he is slowly getting out of BAC. Here are my thoughts on Paulson's investment in BAC-_http://www.gurufocus.com/news.php?id=110254

Please leave your comment:

Performances of the stocks mentioned by matsandalex

User Generated Screeners

althekearoct 17 user defined screen
althekearPE >50th percentile of INDUSTR
althekearLow EV/EBITDA
althekearLynch inspiret Oct 17
althekearsg hk best
althekearDividends Basic
althekearKISS Dividend Strategy
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)

GF Chat