Paulson Now Owns $3 Billion Of Bank Of America, Kraft Shares Liquidated

johnpaulson glasses tbi

Paulson scooped up tons of bank shares last quarter, continuing a trend we’ve seen for a while now.

Paulson said back in the fall that Bank of America was a double from there, and that was when BAC was at around $16 per share. The stock is up slightly now, but was up significantly mid-April.

Check out the chart:

bac

Here’s what Paulson bought and sold last quarter, according to his 13F:

Bank of America: ~170 million shares, up from ~150 million for a total investment of $3 billion

CIT Group: ~4.5 million shares for ~$170 million

Wells Fargo: 17.5 million shares for ~$550 million (he bought into Wells Fargo in Q4 and upped his stake about ~$100 million)

Kraft: Paulson sold out completely

MGM: 40 million shares for ~$500 million

Paulson also bought up (he owned some in Q4 too) Lear Corp, the car seat and car power manufacturer we mentioned Eric Mindich bought a stake in last quarter. And he upped his stake in SPDR slightly.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.