John Paulson Has A Gigantic Bet On Gold

John Paulson

Closely-followed billionaire hedge fund manager John Paulson released his 13F regulatory filing yesterday afternoon revealing that his hedge fund increased its stake in gold in the second quarter. 

For the second quarter ended June 30, 2012, Paulson, who famously bet against the subprime housing market in 2007, has put more than 44% of his funds’ equity assets tied to gold, Bloomberg News’ Mike Weiss and Kelly Bit pointed out

Remember, Paulson is always going to have a lot in gold, since he has a specific gold fund.

Paulson added 4,526,600 more shares in exchange-traded-fund SPDR Gold Trust in the second quarter, the filing shows.

For Q2, Paulson & Co. owned 21,837,552 shares in SPDR Gold Trust, which is his largest position comprising 28.29% of the portfolio for the quarter, according to Whale Wisdom, a website that tracks an analyses 13Fs.

Reuters’ Frank Tang points out that the last time Paulson added to his SPDR Gold Trust stake was during the first quarter of 2009. 

Paulson also added 4,033,500 additional shares in NovaGold Resources Inc. during the second quarter, according to the filing.  For the most recent quarter, the hedge fund held 35,970,518 shares in NovaGold.

The hedge fund snapped up 500,700 additional shares in Allied Nevada Gold holding 1,509,221 shares during Q2, according to the filing.

Meanwhile, Paulson reduced his position in his fund’s second largest holding AngloGold Ashanti selling 400,540 ADRs (American depository receipts) in Q2, the filing shows. AngloGold Ashanti still made up 9.39% of the fund’s portfolio for the most recent quarter.  

The filing also shows that Paulson also reduced its stake in Gold Fields Ltd. selling 819,000 ADRs in the second quarter.  Paulson & Co. held 18,038,600 ADRs in Gold Fields during Q2.

His holdings in Iamgold Corp. and Barrick Gold remained unchanged during Q2. 

During Q2, Paulson dissolved his entire positions in the following stocks Anadarko Petroleum, El Paso Corp, Family Dollar, JPMorgan Chase, Medco, Motorola Mobility, Newscorp, Sara Lee and Teva, just to name a few.

SEE ALSO: Hedge funders are dumping financial stocks left and right >

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