Estimated from 13F holdings — long US equities only; follow-the-filing returns are net of an assumed 10 bps per unit of turnover.
About the fund
Paulson & Co. is an investment management firm and single-family office founded by John Paulson. The firm specializes in event-driven strategies, including merger arbitrage, distressed credit, and activist campaigns.
Investment approach
The firm utilizes bottom-up fundamental research to identify opportunities in corporate events, distressed securities, and restructurings. It employs both long and short strategies across the capital structure to attempt to optimize performance across market cycles. The firm focuses on event-driven arbitrage, including merger arbitrage, bankruptcy reorganizations, and activist campaigns.
History
Paulson & Co. was established in 1994 by John Paulson. The firm gained significant prominence for its successful bet against the subprime mortgage market in 2007. It has since evolved from a hedge fund into a family office structure.
Notable positions & campaigns
- Subprime mortgage short2007 — Bet against the U.S. subprime mortgage market using credit default swaps.
- Yahoo proxy fight2008 — Proxy contest to replace the board of directors.
- Steinway Musical Instruments acquisition2013 — Acquisition of the musical instrument manufacturer.
Profile generated 2026-10-09 from public sources; may be incomplete or out of date.
- Founded by
- John Paulson, Fahad Ghaffar
- Founded
- 1994
- HQ
- Jersey City, United States
- Reported AUM
- $2.6bn (as of 2026-06-30)
- Website
- paulsonco.com
Management
- John PaulsonPresident and Portfolio Manager
- Marcelo KimPartner
- Bill YaoCTO
- Michelle Russell JohnsonSenior Vice President
Holdings heatmap
Latest 13F (2026-06-30): top 8 positions grouped by sector, sized by weight, coloured by the change in weight since the previous 13F.
Holdings map
Each tile is a position, sized by reported value and coloured by the stock's own price return (red down, green up) — the LiquidRound / finviz-style map.
Copy portfolio vs SPY
Growth of $1 following each filing the trading day after it was filed.
Top holdings
Latest 13F (2026-06-30).
| # | Ticker | Value | Weight |
|---|---|---|---|
| 1 | MDGL | $720M | 27.9% |
| 2 | PPTA | $672M | 26.1% |
| 3 | AAMI | $418M | 16.2% |
| 4 | BHC | $361M | 14.0% |
| 5 | THM | $208M | 8.1% |
| 6 | NG | $163M | 6.3% |
| 7 | THRY | $33M | 1.3% |
| 8 | GOOGL | $2M | 0.1% |
Sector mix
Top-25 holdings by weight.
Changes this quarter
| Move | Ticker | Prev wt | Now wt |
|---|---|---|---|
| exited | AEM | 5.1% | 0.0% |
| trimmed | AAMI | 13.5% | 16.2% |
| new | GOOGL | 0.0% | 0.1% |
| exited | — | 0.0% | 0.0% |
Quarterly copy returns
Each 13F held from the day after filing until the next filing.
| 13F period | Copy | SPY | Alpha | Coverage |
|---|---|---|---|---|
| 2026-06-30 | -10.8% | +0.4% | -11.2% | 100% |
| 2026-03-31 | +7.3% | +4.9% | +2.5% | 100% |
| 2025-12-31 | -2.2% | +7.9% | -10.1% | 100% |
| 2025-09-30 | +11.1% | +3.4% | +7.7% | 98% |
| 2025-06-30 | +22.2% | +3.7% | +18.4% | 95% |
| 2025-03-31 | +41.9% | +8.6% | +33.3% | 95% |
| 2024-12-31 | -3.2% | -2.5% | -0.6% | 98% |
| 2024-09-30 | +1.6% | +4.7% | -3.1% | 94% |
| 2024-06-30 | +18.0% | +6.2% | +11.7% | 93% |
| 2024-03-31 | +8.0% | +4.9% | +3.1% | 93% |
| 2023-12-31 | +8.6% | +5.6% | +3.0% | 90% |
| 2023-09-30 | +11.7% | +12.1% | -0.4% | 70% |
| 2023-06-30 | -9.6% | +1.9% | -11.5% | 83% |
| 2023-03-31 | -6.0% | +8.4% | -14.4% | 71% |
| 2022-12-31 | -10.4% | -0.5% | -9.9% | 71% |
| 2022-09-30 | +18.3% | +4.4% | +14.0% | 57% |
Filing dates
- 2026-08-1413F-HR for 2026-06-30 · $2.6B · 8 rows
- 2026-05-1513F-HR for 2026-03-31 · $3.1B · 9 rows
- 2026-02-1713F-HR for 2025-12-31 · $3.3B · 9 rows
- 2025-11-1413F-HR for 2025-09-30 · $3.0B · 10 rows
- 2025-08-1413F-HR for 2025-06-30 · $2.0B · 15 rows
- 2025-05-1513F-HR for 2025-03-31 · $1.7B · 14 rows
- 2025-02-1413F-HR for 2024-12-31 · $1.7B · 13 rows
- 2024-11-1413F-HR for 2024-09-30 · $1.4B · 15 rows
- 2024-08-1413F-HR for 2024-06-30 · $1.4B · 16 rows
- 2024-05-1513F-HR for 2024-03-31 · $1.4B · 18 rows
- 2024-02-1413F-HR for 2023-12-31 · $1.1B · 17 rows
- 2023-11-1413F-HR for 2023-09-30 · $1.1B · 18 rows
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