Paulson Adds $1.5 Billion Of Citi Stock, Sells Entire Goldman Stake And Some Bank Of America
The latest Paulson & Co. 13F is out: the man who inspires a million hedge fund clone portfolios has made some interesting changes to his holdings. The most notable is the documented addition of 300 million shares of Citigroup, a new position for the firm. Offsetting this is the sale of 8.2 million shares of Bank of America (which at 160 million shares is still the firm's second largest holding). Paulson has also divested his entire 2MM share Goldman Sachs stake.
Other notable changes:
- Doubling in the Liberty Media position from 20mm to 44.75mm, the firm's seventh largest position (by value)
- Position reduction in JP Morgan, new positions in Cemex, Starwood Hotels and Starwood Property Trust (the last is an August IPO), Conseco, Ashford Hospitality Trust, Felcor Lodging Trust.
It appears Mr. Paulson has become a fan of REITs. We hope that all the CRE risk is indeed "priced in" as CNBC says.
As before, Paulson's number one position continues to the be GLD with 31.5 million shares.