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PAULSON & CO. INC.

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13F filer, CIK 1035674, JERSEY CITY, NJ

PAULSON & CO. INC. reported $2,011,116,980 across 15 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-14. Its ten largest share positions make up 97.07% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001013594-25-001044

Period
2025-06-30
Reported value
$2.01B
Holdings
15
Top 10 weight
97.07%
New
2
Sold out
1

Largest buys vs the previous quarter

SecurityShares changeApprox. value
PPTAadded+7,575,757$92M
BHCadded+6,352,667$42.3M
JUNIPER NETWORKS INCnew+250,000$9.98M
GOOGnew+9,000$1.6M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
MDGLreduced-10,000-$3.03M
INTRA-CELLULAR THERAPIES INCexited-21,500-$2.84M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q2 2025

Share positions as resolved from 13F-HR 0001013594-25-001044, largest first. % of portfolio is the value over $2,011,116,980, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
MDGLMADRIGAL PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,042,000 shares; 2024Q4: 2,042,000 shares; 2025Q1: 2,099,523 shares; 2025Q2: 2,089,523 shares 2,089,523$632M31.44%-10,000Timeline
PPTAPERPETUA RESOURCES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 24,771,542 shares; 2024Q4: 24,771,542 shares; 2025Q1: 24,771,542 shares; 2025Q2: 32,347,299 shares 32,347,299$393M19.53%+7,575,757Timeline
AAMIACADIAN ASSET MANAGEMENT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,950,121 shares; 2024Q4: 8,950,121 shares; 2025Q1: 8,950,121 shares; 2025Q2: 8,950,121 shares 8,950,121$315M15.68%0Timeline
BHCBAUSCH HEALTH COS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 26,439,035 shares; 2024Q4: 26,439,035 shares; 2025Q1: 26,439,035 shares; 2025Q2: 32,791,702 shares 32,791,702$218M10.86%+6,352,667Timeline
NGNOVAGOLD RESOURCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 27,238,061 shares; 2024Q4: 27,238,061 shares; 2025Q1: 27,238,061 shares; 2025Q2: 27,238,061 shares 27,238,061$111M5.54%0Timeline
AEMAGNICO EAGLE MINES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 783,561 shares; 2024Q4: 783,561 shares; 2025Q1: 783,561 shares; 2025Q2: 783,561 shares 783,561$93.2M4.63%0Timeline
THMINTERNATIONAL TOWER HILL MINQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 64,198,980 shares; 2024Q4: 64,198,980 shares; 2025Q1: 70,239,388 shares; 2025Q2: 70,239,388 shares 70,239,388$60.1M2.99%0Timeline
THRYTHRYV HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,000,000 shares; 2024Q4: 4,280,000 shares; 2025Q1: 4,280,000 shares; 2025Q2: 4,280,000 shares 4,280,000$52M2.59%0Timeline
HONHONEYWELL INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 200,000 shares; 2025Q2: 200,000 shares 200,000$46.6M2.32%0Timeline
SASEABRIDGE GOLD INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,070,000 shares; 2024Q4: 2,070,000 shares; 2025Q1: 2,070,000 shares; 2025Q2: 2,070,000 shares 2,070,000$30.1M1.49%0Timeline
TMQTRILOGY METALS INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 14,326,996 shares; 2024Q4: 14,326,996 shares; 2025Q1: 14,326,996 shares; 2025Q2: 14,326,996 shares 14,326,996$19.3M0.96%0Timeline
EQXEQUINOX GOLD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,500,000 shares; 2024Q4: 2,500,000 shares; 2025Q1: 2,500,000 shares; 2025Q2: 2,500,000 shares 2,500,000$14.4M0.71%0Timeline
IAGIAMGOLD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,850,000 shares; 2024Q4: 1,850,000 shares; 2025Q1: 1,850,000 shares; 2025Q2: 1,850,000 shares 1,850,000$13.6M0.68%0Timeline
JUNIPER NETWORKS INCJUNIPER NETWORKS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 250,000 shares 250,000$9.98M0.5%new
GOOGALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 9,000 shares 9,000$1.6M0.08%newTimeline

Sold out in Q2 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
INTRA-CELLULAR THERAPIES INCINTRA-CELLULAR THERAPIES INC21,500$2.84Mshares

How Q2 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001013594-25-001044 base2025-08-14acceptance time not in the bulk data set