Billionaire John Paulson’s Messy Divorce and Top 5 Stock Picks

In this article, we discuss billionaire John Paulson’s Messy divorce and top 5 stock picks. If you want to see more stocks in this selection, check out Billionaire John Paulson’s Messy Divorce and Top Stock Picks.

5. Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)

Paulson & Co Q2 2023 Investment: $80.90 Million
Percentage of Paulson &Co as of Q2 2023: 7.89%
Number of Hedge Fund Holders: 33

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) is a clinical-stage biopharmaceutical company that develops therapeutics for non-alcoholic steatohepatitis. The company’s lead product is resmetiroma thyroid hormone receptor beta agonist.

Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) is the latest addition to Paulson & C portfolio, the hedge fund having acquired 350,200 shares in the company worth $80M. The stock accounts for 7.89% of the hedge fund’s portfolio. The investment comes on the heels of the pharmaceutical company delivering positive top-line results for resmetiroma, a candidate drug for treating liver conditions. 

As of the end of the second quarter of 2023, 33 hedge funds tracked by Insider Monkey reported owning stakes in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL).

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4. NovaGold Resources Inc. (NYSE:NG)

Paulson & Co Q2 2023 Investment: $88.68 Million
Percentage of Paulson &Co as of Q2 2023: 8.65%
Number of Hedge Fund Holders: 13

NovaGold Resources Inc. (NYSE:NG) is one of the oldest holdings in Paulson & Co. portfolio and billionaire John Paulson’s top stock pick in the mining sector. The company explores and develops gold mineral properties in the US. Its principal asset is the Donlin Gold project.

NovaGold Resources Inc. (NYSE:NG) is one of billionaire John Paulson’s top stock picks. Paulson has generated significant returns from the mining company, with its share prices having rallied before tumbling over the past ten years. NovaGold Resources Inc. (NYSE:NG) accounts for 8.65% of the hedge fund portfolio.

By the end of Q2 2023, NovaGold Resources Inc. (NYSE:NG) had 13 hedge funds from Insider Monkey’s database of 910 funds as its shareholders. The top shareholder among them was John Paulson’s Paulson & Co., which owned a $88.68 million chunk of the company.

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3. Perpetua Resources Corp. (NASDAQ:PPTA)

Paulson & Co Q2 2023 Investment: $90.91 Million
Percentage of Paulson &Co as of Q2 2023: 8.87%
Number of Hedge Fund Holders: 7 

Perpetua Resources Corp. (NASDAQ:PPTA) is a basic materials company engaged in mineral exploration and development activities across the US. Paulson & Co. has turned to Perpetua Resources Corp. (NASDAQ:PPTA) to gain exposure to gold, silver, and antimony exploration and mining. The company’s flagship project is the Stibnite gold project in Idaho.

Perpetua Resources Corp. (NASDAQ:PPTA)’s wholly-owned subsidiary, Perpetua Resources, was recently awarded an ordinance technology agreement of up to $15.5M by the Department of Defence.

Paulson first gained exposure to the mining company in 2021 after acquiring stakes worth $159 million. The hedge fund has been buying and selling shares, taking advantage of the market swings that have come into play. As of the end of the second quarter, the hedge fund held stakes worth $90 million. Perpetua Resources Corp. (NASDAQ:PPTA) had 7 hedge funds in its corner by the end of Q2 2023, according to Insider Monkey’s data.

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2. BrightSphere Investment Group Inc. (NYSE:BSIG)

Paulson & Co Q2 2023 Investment: $187.51 Million
Percentage of Paulson &Co as of Q2 2023: 18.3%
Number of Hedge Fund Holders: 26

BrightSphere Investment Group Inc. (NYSE:BSIG) provides financial services that help individuals and institutions manage their assets. The company also launches equity mutual funds for its clients while investing in public equity fixed-income and alternative investment markets.

Paulson & Co. has reaped big from its investment in BrightSphere Investment Group Inc. (NYSE:BSIG), which started in the third quarter of 2019. At one point, the stock doubled in value from where the hedge fund bought stakes. While the stock has pulled back from its all-time highs, it remains billionaire John Paulson’s top stock pick, having proven its ability to generate significant gains.

Consequently, BrightSphere Investment Group Inc. (NYSE:BSIG) remains the second largest holding for Paulson & Co., accounting for 18% of the portfolio. According to the hedge funds tracked by Insider Monkey, 26 funds placed long calls on BrightSphere Investment Group Inc. (NYSE:BSIG) at the end of Q2 2023. Paulson & Co is a leading stakeholder of the company, with 8.95 million shares worth $187.51 million.

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1. Bausch Health Companies Inc. (NYSE:BHC)

Paulson &Co Q2 2023 Investment: $21.51 Million
Percentage of Paulson &Co as of Q2 2023: 20.63%
Number of Hedge Fund Holders: 37

Bausch Health Companies Inc. (NYSE:BHC) is one of billionaire John Paulson’s top stock picks, having relied on the company to gain exposure in the multibillion-dollar healthcare sectors. The company has carved a niche in developing, manufacturing, and marketing a range of gastroenterology, hepatology, neurology, and dermatology products. It sells aesthetic medical devices, branded pharmaceuticals, generic pharmaceuticals, and OTC products internationally.

Paulson & Co. first bought stakes in the healthcare play in $2018 and has been buying and selling with each opportunity to lock in profit. The diversified pharmaceutical company is on the cusp of bouncing to profitability as its losses lessen. The hedge fund has since bolstered its stakes in Bausch Health Companies Inc. (NYSE:BHC), which accounts for 20% of its portfolio.

According to Insider Monkey’s second-quarter database, Bausch Health Companies Inc. (NYSE:BHC) was part of 37 hedge fund portfolios, compared to 32 in the prior quarter. John Paulson’s Paulson & Co is the company’s largest stakeholder, with 26.4 million shares worth $211.51 million.

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