Paulson & Co.: Portfolio Update

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Includes: BSX, ROH
by: Market Folly

John Paulson's hedge fund Paulson & Co. recently filed two 13Gs with the SEC due to activity on December 31, 2008:

  1. The firm disclosed a 9.24% ownership stake in Rohm & Haas (ROH). The filing shows that it now owns 18,041,111 shares. ROH was set to be acquired by Dow Chemical (NYSE:DOW), but the deadline recently passed. Paulson has decided to become more proactive with this position and has sent a letter to Dow Chemical regarding his stance on the merger. Obviously, as a large ROH shareholder, Paulson wants the deal to go through.
  2. Paulson & Co. filed a 13G, which discloses a 6.6% ownership stake in Boston Scientific (NYSE:BSX). The filing shows that it now owns 99,135,000 shares in the company.

Paulson & Co. has had back-to-back successful years, profiting from the sub-prime mess and overall chaos at financial institutions. Some of its funds finished 2008 up 24% and 37%, as we noted in our year-end 2008 Hedge Fund performance numbers summary. We also noted that one of Paulson's co-portfolio managers would be leaving to start his own fund. You can view Paulson's entire portfolio here. Paulson recently filed a 13G on Mirant (MIR), as well.

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