BOSTON ( TheStreet) -- Paulson & Co. founder John Paulson probably would like to forget the third quarter, given the huge losses his hedge fund amassed. Still, the billionaire investor is seeking to rebound from an atrocious performance with new investments in companies including Motorola Mobility ( MMI) and Nalco Holdings ( NLC).After earning a record $5 billion for a hedge fund manager last year with the help of gold and bank stocks, Paulson is now slashing some of those holdings. His flagship Advantage Plus Fund has plummeted 47% this year through September, according to several media reports that cite investors in the fund. Even Paulson's bet on gold has worked against him, with his gold fund down about 30% this year.
|John Paulson (Paulson & Co.)|
10. CVS Caremark ( CVS) Company Profile: CVS Caremark is a provider of prescriptions and related health-care services through its retail locations across the U.S. Paulson's Investment: Paulson & Co. grabbed 2.5 million shares of CVS in the third quarter. The position had a market value of $84 million as of Sept. 30. Share Price Performance: CVS shares have climbed 11% this year and have been a big winner since bottoming out in August following the debt ceiling debate and subsequent downgrade of the U.S. debt by Standard & Poor's. Since Paulson's stated ownership date of Sept. 30, CVS shares have rallied 15%.