Q3 2025 · 13F-HR
PAULSON & CO. INC.holdings as filed
Filed 2025-11-14 · accession 0001013594-25-001436
$2.97B
Reported value
10
Positions
2025-09-30
Period end
The Brief · PAULSON & CO. INC. · Q3 2025
AI · grounded in 13F
PAULSON & CO. INC. established a new position in Madrigal Pharmaceuticals Inc MDGL valued at $874.9M. The fund also initiated stakes in Perpetua Resources Corp PPTA for $654.4M and Bausch Health Cos Inc BHC for $456.4M. Other new additions include Acadian Asset Management Inc AAMI, NovaGold Res Inc NG, and Agnico Eagle Mines Ltd AEM.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 558868105 | MDGL | MADRIGAL PHARMACEUTICALS INC | $874.9M | 29.5% | 1,907,523 | Common | SOLE |
| 714266103 | PPTA | PERPETUA RESOURCES CORP | $654.4M | 22.0% | 32,347,299 | Common | SOLE |
| 071734107 | BHC | BAUSCH HEALTH COS INC | $456.4M | 15.4% | 70,755,869 | Common | SOLE |
| 10948W103 | AAMI | ACADIAN ASSET MANAGEMENT INC | $372.9M | 12.6% | 7,743,282 | Common | SOLE |
| 66987E206 | NG | NOVAGOLD RES INC | $239.7M | 8.07% | 27,238,061 | Common | SOLE |
| 008474108 | AEM | AGNICO EAGLE MINES LTD | $132.1M | 4.45% | 783,561 | Common | SOLE |
| 46050R102 | THM | INTERNATIONAL TOWER HILL MIN | $115.2M | 3.88% | 70,239,388 | Common | SOLE |
| 886029206 | THRY | THRYV HLDGS INC | $51.6M | 1.74% | 4,280,000 | Common | SOLE |
| 438516106 | HON | HONEYWELL INTL INC | $42.1M | 1.42% | 200,000 | Common | SOLE |
| 89621C105 | TMQ | TRILOGY METALS INC NEW | $30.1M | 1.01% | 14,326,996 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.