John Paulson’s Paulson & Co. disclosed in an SEC filing its holdings as of September 30, 2025. The fund exited four positions during Q3, including by size of position Seabridge Gold (SA), Equinox Gold (EQX), Iamgold (IAG), and Alphabet Class C (GOOG). Paulson increased its stake in Bausch Health (BHC), and reduced its stake in Acadian Asset Management (AAMI) and Madrigal Pharma (MDGL). The fund’s top holdings as of September 30, in order of size, were Madrigal, Perpetua (PPTA), Bausch Health, Acadian Asset, and Novagold (NG).
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