John Paulson Buys streetTRACKS Gold, Wyeth, Market Vectors Gold Miners ETF, Sells Wells Fargo & Company, Ultrashort Financials Proshares, BCE Inc.

John Paulson Q1 Portfolio Updates

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May 15, 2009
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John Paulson is probably the hottest hedge fund manager right now, for a good reason. He had it right about financials. Made big money with it. Now he is buying gold, and stay market neutral with his merger arbitrages. This is Q1 portfolio update. John Paulson owns 25 stocks with a total value of $9.4 billion. These are the details of the buys and sells.


John Paulson buys streetTRACKS Gold, Wyeth, Market Vectors Gold Miners ETF, PetroCanada, ScheringPlough Corp., Gold Fields Ltd., JPMorgan Chase & Co., AngloGold Ashanti Ltd., Capital One Financial Corp., sells Wells Fargo & Company, ULTRASHORT FINANCIALS PROSHARES, B C E INC, Merrill Lynch & Co. Inc., NRG Energy Inc., Northern Trust Corp., iStar Financial Inc., Teva Pharmaceutical Industries Ltd., Time Warner Cable Inc., Genentech Inc. during the 3-months ended 03/31/2009, according to the most recent filings of his investment company, Paulson & Co..





New Purchases: AU, COF, GDX, GFI, GLD, JPM, PCZ, SGP, WYE,


Added Positions: KGC, STJ,


Sold Out: BCE, NRG, NTRS, SFI, SKF, TEVA, TWC, WFC,





For the details of John Paulson's stock buys and sells, go to the Link Here


This is the sector weightings of John Paulson 's portfolio:


Technologygreen.gif 0.4%
Financialsgreen.gif 2.5%
Utilitiesgreen.gif 2.2%
Telecommunicationsgreen.gif 2.1%
Consumer Servicesgreen.gif 0.5%
Health Caregreen.gif 25.6%
Consumer Goodsgreen.gif 3.7%
Basic Materialsgreen.gif 22.7%
Oil & Gasgreen.gif 3.3%



These are the top 5 holdings of $GuruName


  1. streetTRACKS Gold (GLD) - 31,500,000 shares, 30.37% of the total portfolio
  2. Wyeth (WYE) - 30,381,000 shares, 13.96% of the total portfolio
  3. Rohm and Haas Company (ROH) - 15,966,114 shares, 13.44% of the total portfolio
  4. Boston Scientific Corp. (BSX) - 99,135,000 shares, 8.42% of the total portfolio
  5. Market Vectors Gold Miners ETF (GDX) - 17,300,000 shares, 6.81% of the total portfolio



Added: St. Jude Medical Inc. (STJ, Financial)


John Paulson added to his holdings in St. Jude Medical Inc. by 134.14%. His purchase prices were between $30.7 and $38.28, with an estimated average price of $34.9. The impact to his portfolio due to this purchase was 0.52%. His holdings were 2,341,400 shares as of 03/31/2009.


St. Jude Medical Inc. is dedicated to making life better for cardiac neurological and chronic pain patients worldwide through excellence in medical device technology and services. The Company has five major focus areas that include cardiac rhythm management atrial fibrillation cardiac surgery cardiology and neuromodulation. St. Jude Medical Inc. has a market cap of $12.78 billion; its shares were traded at around $36.92 with a P/E ratio of 15.8 and P/S ratio of 2.9. St. Jude Medical Inc. had an annual average earning growth of 19.5% over the past 10 years. GuruFocus rated St. Jude Medical Inc. the business predictability rank of 4.5-star.


Added: Kinross Gold Corp. (KGC, Financial)


John Paulson added to his holdings in Kinross Gold Corp. by 8.46%. His purchase prices were between $15.75 and $18.87, with an estimated average price of $17.6. The impact to his portfolio due to this purchase was 0.46%. His holdings were 30,780,800 shares as of 03/31/2009.


Kinross Gold Corporation is an entrepreneurial mining company which has become a million-ounce gold producer. With their primary low cost operations on four continents the Company has become a major player on the international market. Kinross Gold Corp. has a market cap of $11.75 billion; its shares were traded at around $17.02 with a P/E ratio of 40.6 and P/S ratio of 7.3. The dividend yield of Kinross Gold Corp. stocks is 0.5%. Kinross Gold Corp. had an annual average earning growth of 12% over the past 5 years.


New Purchase: streetTRACKS Gold (GLD, Financial)


John Paulson initiated holdings in streetTRACKS Gold. His purchase prices were between $82.71 and $97.8, with an estimated average price of $90.6. The impact to his portfolio due to this purchase was 30.37%. His holdings were 31,500,000 shares as of 03/31/2009.


streetTRACKS Gold has a market cap of $16.27 billion; its shares were traded at around $91.03 .


New Purchase: Wyeth (WYE, Financial)


John Paulson initiated holdings in Wyeth. His purchase prices were between $37.45 and $43.14, with an estimated average price of $41.5. The impact to his portfolio due to this purchase was 13.96%. His holdings were 30,381,000 shares as of 03/31/2009.


Wyeth is one of the world's largest research-driven pharmaceutical and health care products companies. It is a leader in the discovery development manufacturing and marketing of pharmaceuticals vaccines biotechnology products and non-prescription medicines that improve the quality of life for people worldwide. The Company's major divisions include Wyeth Pharmaceuticals Wyeth Consumer Healthcare and Fort Dodge Animal Health. Wyeth has a market cap of $59.38 billion; its shares were traded at around $44.6 with a P/E ratio of 12.7 and P/S ratio of 2.5. The dividend yield of Wyeth stocks is 2.7%. Wyeth had an annual average earning growth of 5.8% over the past 10 years.


New Purchase: Market Vectors Gold Miners ETF (GDX, Financial)


John Paulson initiated holdings in Market Vectors Gold Miners ETF. His purchase prices were between $30.93 and $37.55, with an estimated average price of $34.4. The impact to his portfolio due to this purchase was 6.81%. His holdings were 17,300,000 shares as of 03/31/2009.


Market Vectors Gold Miners ETF has a market cap of $456.5 million; its shares were traded at around $38.05 . The dividend yield of Market Vectors Gold Miners ETF stocks is 8%.


New Purchase: PetroCanada (PCZ, Financial)


John Paulson initiated holdings in PetroCanada. His purchase prices were between $20.22 and $28.24, with an estimated average price of $23.1. The impact to his portfolio due to this purchase was 2.96%. His holdings were 10,311,300 shares as of 03/31/2009.


Petro Canada is a major Canadian oil and gas company with a strong reputation for environmental stewardship and corporate responsibility. With a portfolio of businesses that span the upstream and downstream sectors the company is a leader in the Canadian petroleum industry. In the upstream the company explores for develops produces and markets crude oil natural gas and associated liquids. In the downstream the company refines distributes and markets petroleum products and related goods and services. PetroCanada has a market cap of $17.78 billion; its shares were traded at around $36.68 with a P/E ratio of 5.8 and P/S ratio of 0.7. The dividend yield of PetroCanada stocks is 2.1%.


New Purchase: ScheringPlough Corp. (SGP, Financial)


John Paulson initiated holdings in ScheringPlough Corp.. His purchase prices were between $17.34 and $24.14, with an estimated average price of $19.8. The impact to his portfolio due to this purchase was 2.26%. His holdings were 9,000,000 shares as of 03/31/2009.


Schering-Plough Corporation and its subsidiaries are engaged in the discovery development manufacturing and marketing of pharmaceutical products worldwide. The company operates primarily in the prescription pharmaceutical marketplace. However where appropriate the company has sought regulatory approval to switch prescription products to over-the-counter status as a means of extending a product's life cycle. ScheringPlough Corp. has a market cap of $40.09 billion; its shares were traded at around $23.63 with a P/E ratio of 13.2 and P/S ratio of 2.1. The dividend yield of ScheringPlough Corp. stocks is 1.1%.


New Purchase: Gold Fields Ltd. (GFI, Financial)


John Paulson initiated holdings in Gold Fields Ltd.. His purchase prices were between $8.21 and $12.44, with an estimated average price of $10.7. The impact to his portfolio due to this purchase was 2.21%. His holdings were 18,268,589 shares as of 03/31/2009.


Gold Fields Limited is one of the world's largest unhedged gold producers with operating mines in South Africa Ghana and Australia. Gold Fields Ltd. has a market cap of $8.73 billion; its shares were traded at around $12.4 with a P/E ratio of 25.9 and P/S ratio of 2.7. The dividend yield of Gold Fields Ltd. stocks is 2.3%. Gold Fields Ltd. had an annual average earning growth of 2.8% over the past 10 years.


New Purchase: JPMorgan Chase & Co. (JPM, Financial)


John Paulson initiated holdings in JPMorgan Chase & Co.. His purchase prices were between $15.9 and $27.58, with an estimated average price of $23.6. The impact to his portfolio due to this purchase was 1.65%. His holdings were 5,800,000 shares as of 03/31/2009.


J.P. Morgan Chase & Co. is a leading global financial services firm. The firm is a leader in investment banking asset management private banking private equity custody and transaction services and retail and middle market financial services. A component of the Dow Jones Industrial Average JPMorgan Chase is headquartered in New York and serves more than 30 million consumer customers and the world's most prominent corporate institutional and government clients. JPMorgan Chase & Co. has a market cap of $133.56 billion; its shares were traded at around $35.54 with a P/E ratio of 52.3 and P/S ratio of 2. The dividend yield of JPMorgan Chase & Co. stocks is 0.6%.


New Purchase: AngloGold Ashanti Ltd. (AU, Financial)


John Paulson initiated holdings in AngloGold Ashanti Ltd.. His purchase prices were between $25.34 and $37.2, with an estimated average price of $30.5. The impact to his portfolio due to this purchase was 1.15%. His holdings were 2,938,582 shares as of 03/31/2009.


AngloGold Limited is the largest gold producer at 7 million ounces a year with reserves of 126 m oz. The company has operations in six countries on three continents some of which are joint ventures as well as exploration activities in ten countries. AngloGold can be financially characterized by high cash generation substantial reinvestment in long-term growth and the payment of significant dividends. The company distinguishes itself from its producer peer group through its active involvement in the development of the gold market particularly in Asia. AngloGold Ashanti Ltd. has a market cap of $10.28 billion; its shares were traded at around $36.59 with and P/S ratio of 2.8. The dividend yield of AngloGold Ashanti Ltd. stocks is 0.3%.


New Purchase: Capital One Financial Corp. (COF, Financial)


John Paulson initiated holdings in Capital One Financial Corp.. His purchase prices were between $8.29 and $28.49, with an estimated average price of $15.1. The impact to his portfolio due to this purchase was 0.27%. His holdings were 2,100,000 shares as of 03/31/2009.


Capital One Financial is a holding company whose subsidiaries provide a variety of products and services to consumers using its proprietary information-based strategy. The corporation's principal subsidiary Capital One Bank offers credit card products. Capital One Services Inc. another subsidiary of the corporation provides various operating administrative and other services to the corporation and its subsidiaries. Capital One Financial Corp. has a market cap of $9.64 billion; its shares were traded at around $24.58 with a P/E ratio of 72.3 and P/S ratio of 0.6. The dividend yield of Capital One Financial Corp. stocks is 0.7%. Capital One Financial Corp. had an annual average earning growth of 16.3% over the past 10 years.


Sold Out: NRG Energy Inc. (NRG, Financial)


John Paulson sold out his holdings in NRG Energy Inc.. His sale prices were between $17.21 and $25.1, with an estimated average price of $20.8. The impact to his portfolio due to this sale was less than 0.01%.


NRG Energy Inc owns and operates a diverse portfolio of power-generating facilities primarily in the United States. Its operations include baseload intermediate peaking and cogeneration facilities thermal energy production and energy resource recovery facilities. NRG Energy Inc. has a market cap of $4.95 billion; its shares were traded at around $20.25 with a P/E ratio of 6.5 and P/S ratio of 0.7. NRG Energy Inc. had an annual average earning growth of 25.9% over the past 5 years.


Sold Out: ULTRASHORT FINANCIALS PROSHARES (SKF, Financial)


John Paulson sold out his holdings in ULTRASHORT FINANCIALS PROSHARES. His sale prices were between $94.99 and $250.07, with an estimated average price of $152.2. The impact to his portfolio due to this sale was less than 0.01%.


ULTRASHORT FINANCIALS PROSHARES has a market cap of $14.4 million; its shares were traded at around $45.89 . The dividend yield of ULTRASHORT FINANCIALS PROSHARES stocks is 3.3%.


Sold Out: Time Warner Cable Inc. (TWC)


John Paulson sold out his holdings in Time Warner Cable Inc.. His sale prices were between $25.52 and $49.99, with an estimated average price of $40.4. The impact to his portfolio due to this sale was less than 0.01%.


Time Warner Cable Inc. is the second-largest cable operator in the U.S. and an industry leader in developing and launching innovative video data and voice services. They deliver their services to customers over technologically-advanced well-clustered cable systems that pass approximately 26 million homes. Time Warner Cable Inc. has a market cap of $10.08 billion; its shares were traded at around $30.95 with a P/E ratio of 8.2 and P/S ratio of 0.6.


Sold Out: B C E INC (BCE)


John Paulson sold out his holdings in B C E INC. His sale prices were between $18.46 and $20.82, with an estimated average price of $19.8. The impact to his portfolio due to this sale was less than 0.01%.


BCE Inc. is Canada's largest communications company. Through their operations in communications services they provide residence and business customers in Canada with wireline and wireless communications products and applications satellite communications and direct-to-home television services systems integration expertise electronic commerce solutions Internet access and high-speed data services and directories. Their shares are listed in Canada the United States and Europe. (press release) B C E INC has a market cap of $16.38 billion; its shares were traded at around $20.69 with a P/E ratio of 9.2 and P/S ratio of 1.1. The dividend yield of B C E INC stocks is 7.4%. B C E INC had an annual average earning growth of 9.4% over the past 10 years.


Sold Out: Northern Trust Corp. (NTRS)


John Paulson sold out his holdings in Northern Trust Corp.. His sale prices were between $47.38 and $61.27, with an estimated average price of $55.6. The impact to his portfolio due to this sale was less than 0.01%.


Northern Trust Corp. is a multi-bank holding company with worldwide locations and is a provider of treasury management master trust custody retirement risk and performance international and investment management services for corporations large institutions and individuals. Northern Trust has earned distinction as a leading provider of personal fiduciary asset management personal and private banking and master trust/custody global custody and treasury management services. Northern Trust Corp. has a market cap of $12.29 billion; its shares were traded at around $55 with a P/E ratio of 19.8 and P/S ratio of 2.7. The dividend yield of Northern Trust Corp. stocks is 2%. Northern Trust Corp. had an annual average earning growth of 6.9% over the past 10 years. GuruFocus rated Northern Trust Corp. the business predictability rank of 2.5-star.


Sold Out: Teva Pharmaceutical Industries Ltd. (TEVA)


John Paulson sold out his holdings in Teva Pharmaceutical Industries Ltd.. His sale prices were between $41.18 and $45.87, with an estimated average price of $43.4. The impact to his portfolio due to this sale was less than 0.01%.


TEVA Pharmaceuticals USA the business is to develop manufacture and market generic pharmaceuticals. Teva USA sells its products to chains wholesalers distributors hospitals managed care entities and government agencies. The company markets a variety of dosage forms including both extended and immediate release tablets and capsules creams ointments solutions and suspensions. Key therapeutic areas are the analgesic anti-infective cardiovascular CNS dermatological and anti-inflammatory categories. Teva Pharmaceutical Industries Ltd. has a market cap of $39.96 billion; its shares were traded at around $44.96 with a P/E ratio of 15.8 and P/S ratio of 3.6. The dividend yield of Teva Pharmaceutical Industries Ltd. stocks is 1.2%. Teva Pharmaceutical Industries Ltd. had an annual average earning growth of 42.6% over the past 10 years. GuruFocus rated Teva Pharmaceutical Industries Ltd. the business predictability rank of 2.5-star.


Sold Out: iStar Financial Inc. (SFI)


John Paulson sold out his holdings in iStar Financial Inc.. His sale prices were between $0.76 and $2.88, with an estimated average price of $1.6. The impact to his portfolio due to this sale was less than 0.01%.


iStar Financial Inc. is the leading publicly traded finance company focused on the commercial real estate industry. The company which is taxed as a real estate investment trust provides structured mortgage mezzanine and lease financing through its origination acquisition and servicing platform. The company's mission is to maximize risk-adjusted returns on equity by providing innovative and value-added financing solutions to private and corporate owners of real estate nationwide. (PRESS RELEASE) iStar Financial Inc. has a market cap of $373.5 million; its shares were traded at around $3.53 with and P/S ratio of 0.3. iStar Financial Inc. had an annual average earning growth of 16.5% over the past 10 years. GuruFocus rated iStar Financial Inc. the business predictability rank of 3-star.


Sold Out: Wells Fargo & Company (WFC)


John Paulson sold out his holdings in Wells Fargo & Company. His sale prices were between $8.59 and $24.63, with an estimated average price of $15.6. The impact to his portfolio due to this sale was less than 0.01%.


Wells Fargo & Company is a diversified financial services company providing banking insurance investments mortgage and consumer finance services through stores its Internet site and other distribution channels across North America as well as internationally. (Company Press Release) Wells Fargo & Company has a market cap of $109.03 billion; its shares were traded at around $25.69 with a P/E ratio of 31.4 and P/S ratio of 2.1. The dividend yield of Wells Fargo & Company stocks is 0.8%. Wells Fargo & Company had an annual average earning growth of 10.8% over the past 10 years. GuruFocus rated Wells Fargo & Company the business predictability rank of 4-star.

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