---
name: Copy Paulson & Co.
kind: hedgecopy-fund
cik: 0001035674
latest_13f_period: 2026-06-30
latest_13f_filed: 2026-08-14
author: HedgeCopy
---

# Copy Paulson & Co. (13F follow-the-filing)

Paulson & Co. files a 13F-HR with the SEC each quarter (CIK 0001035674). This skill describes a
long-only copy portfolio built from that filing, bought the trading day after it is filed.

## Track record (estimated from 13F holdings, net of 10 bps per unit of turnover)
- Annualised return copying the filings, last 3 years (headline): +38.2% vs SPY +22.9% (alpha +15.2%/yr)
- Annualised since the series started (2022-08-19 to 2026-10-09): +26.6% vs SPY +17.3%
- Follow-the-filing TTM: +5.8% vs SPY +16.2% (alpha -10.4%)
- Quarters of history: 17; average coverage 97%; flags: none

## Latest disclosed top holdings (2026-06-30)
| # | Ticker | Issuer | Weight |
|---|---|---|---|
| 1 | MDGL | MADRIGAL PHARMACEUTICALS INC | 27.9% |
| 2 | PPTA | PERPETUA RESOURCES CORP | 26.1% |
| 3 | AAMI | ACADIAN ASSET MANAGEMENT INC | 16.2% |
| 4 | BHC | BAUSCH HEALTH COS INC | 14.0% |
| 5 | THM | INTERNATIONAL TOWER HILL MIN | 8.1% |
| 6 | NG | NOVAGOLD RESOURCES INC | 6.3% |
| 7 | THRY | THRYV HLDGS INC | 1.3% |
| 8 | GOOGL | ALPHABET INC | 0.1% |

## 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.

- Strategy: Event-driven arbitrage
- Type: Activist, Event-driven
- Founders: John Paulson, Fahad Ghaffar
- Key people: John Paulson (President and Portfolio Manager); Marcelo Kim (Partner); Bill Yao (CTO); Michelle Russell Johnson (Senior Vice President)
- Founded 1994 · HQ Jersey City, United States
- Reported AUM: $2.6bn (as of 2026-06-30)
- Website: https://paulsonco.com/

### 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 short (2007): Bet against the U.S. subprime mortgage market using credit default swaps.
- Yahoo proxy fight (2008): Proxy contest to replace the board of directors.
- Steinway Musical Instruments acquisition (2013): Acquisition of the musical instrument manufacturer.

_Profile generated 2026-10-09 from public sources; may be incomplete or out of date._

## Rules
- Hold the top 20 long US-equity positions from the latest 13F-HR, weighted as reported.
- Rebalance on the first trading day after each new 13F-HR is filed. Cash only, paper only.

## Parameters
```json
{
  "params": {
    "funds": [
      "0001035674"
    ],
    "top_n": 20,
    "weighting": "13f",
    "rebalance": "filing_plus_1",
    "budget_usd": 10000,
    "stop_loss_pct": null,
    "cash_only": true
  }
}
```

> Estimated from 13F holdings (long US equities only; no shorts, options, cash or fees). Past performance is not a guide to the future. Not investment advice. Paper trading only.