Q4 2025 · 13F-HR
PAULSON & CO. INC.holdings as filed
Filed 2026-02-17 · accession 0001013594-26-000257
$3.26B
Reported value
9
Positions
2025-12-31
Period end
The Brief · PAULSON & CO. INC. · Q4 2025
AI · grounded in 13F
PAULSON & CO. INC. closed its position in HON for a reduction of $42.1M. The fund established a new position in SOLS valued at $67.8M and exited its holding in TMQ for $30.1M. Additionally, the fund increased its stake in BHC by 3.5% and trimmed its holding in MDGL by 10.5%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 558868105 | MDGL | MADRIGAL PHARMACEUTICALS INC | $994.4M | 30.5% | 1,707,522 | Common | SOLE |
| 714266103 | PPTA | PERPETUA RESOURCES CORP | $783.1M | 24.0% | 32,347,299 | Common | SOLE |
| 071734107 | BHC | BAUSCH HEALTH COS INC | $509.1M | 15.6% | 73,255,869 | Common | SOLE |
| 10948W103 | AAMI | ACADIAN ASSET MANAGEMENT INC | $363.9M | 11.2% | 7,743,282 | Common | SOLE |
| 66987E206 | NG | NOVAGOLD RES INC | $253.9M | 7.78% | 27,238,061 | Common | SOLE |
| 008474108 | AEM | AGNICO EAGLE MINES LTD | $132.8M | 4.07% | 783,561 | Common | SOLE |
| 46050R102 | THM | INTERNATIONAL TOWER HILL MIN | $130.6M | 4.01% | 70,239,388 | Common | SOLE |
| 83443Q103 | SOLS | SOLSTICE ADVANCED MATLS INC | $67.8M | 2.08% | 1,395,787 | Common | SOLE |
| 886029206 | THRY | THRYV HLDGS INC | $26.3M | 0.81% | 4,347,070 | 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.