Paulson Adds Goldman Sachs, Financials
NEW YORK (
) -- Hedge fund manager John Paulson added
Goldman Sachs
(GS) - Get Goldman Sachs Group Inc. (The) Report
to his portfolio in the second quarter, even as the firm battled charges of fraud for failing to disclose his role in the portfolio selection of a complex trade.
According to the latest portfolio disclosure with the Securities and Exchange Commission, the fund bought more shares in other financials as well, including warrants of
Bank of America
(BAC) - Get Bank of America Corporation Report
, shares of regional bank
Popular
(BPOP) - Get Popular Inc. Report
and investment banking outfit
American Capital
(ACAS)
.
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Paulson also added to his exposure in insurance company
Hartford Financial
(HIG) - Get Hartford Financial Services Group Inc. (The) Report
, while maintaining his holdings in
Wells Fargo
(WFC) - Get Wells Fargo & Company Report
and
Regions Financial
(RF) - Get Regions Financial Corporation Report
. He sold some of his holdings in
CIT Financial
(CIT) - Get CIT Group Inc. Report
.
Gold continued to be among his top holdings. Paulson stepped up exposure to
Exxon Mobil
(XOM) - Get Exxon Mobil Corporation Report
and pharma major
Mylan
(MYL) - Get Viatris, Inc. Report
, while cutting holdings in
Boston Scientific
(BSX) - Get Boston Scientific Corporation Report
and
First Horizon
(FHN) - Get First Horizon Corporation Report
.
Investors managing more than $100 million assets are required to report their holdings every quarter within 45 days from the end of the quarter in a 13F filing with the SEC. The managers do not need to disclose short positions or investments in non-U.S. listed securities, so the disclosure is only a partial view of holdings.
Markets follow the moves and portfolio disclosures of big investors to get cues on sectors and stocks worth looking at. However, information in these portfolios are often dated and the portfolio manager may have changed tack since the end of the last quarter.
-- Reported by Shanthi Venkataraman in New York.
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