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Paulson's 10 Best New Investment Ideas

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9. J.C. Penney (JCP - Get Report)

Company Profile: J.C. Penney is the well-known department store operator, with more than 1,100 stores in the U.S. and Puerto Rico. JCPenney sells merchandise like family apparel and footwear, accessories, and fine and fashion jewelry.

Paulson's Investment: Paulson & Co. initiated a new position in J.C. Penney during the first quarter, buying 2.3 million shares that had a value of almost $82 million as of March 31.

Fellow hedge fund investor Bill Ackman of Pershing Square Management is also a holder of J.C. Penney shares. The retailer's stock is up 19% this year, and on Monday the company reported first-quarter net income of $64 million, a 7% increase from the year-ago period. J.C. Penney also upped its full-year earnings guidance.

8. SL Green Realty (SLG)

Company Profile: SL Green Realty is a New York-based real estate investment trust.

Paulson's Investment: The hedge fund bought 1.4 million shares of SL Green Realty during the first quarter, ending with a market value of $105 million as of March 31.

SL Green shares are up 25% this year. In late April, the company said first-quarter funds from operations, or FFO, surged 68% from a year ago. At the same time, SL Green announced that it had acquired the remaining interest of Viacom's (VIA.B) headquarters in Times Square, which is valued at more than $1.2 billion.

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BAC $14.56 0.00%
C $46.28 0.00%
GLD $123.65 0.00%
HPQ $12.27 0.00%
JCP $9.28 0.00%


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