John Paulson, a hedge-fund manager that won big by betting against sub-prime mortgages, purchased 1.1 million shares of Goldman Sachs Group Inc. (NYSE: GS) during the second quarter, according to a regulatory filing with the U.S. Securities and Exchange Commission. Paulson’s stake in the New York-based bank was valued at $144.4 million by the end of the second quarter.
Goldman Sachs Group Inc. (NYSE: GS) settled a fraud lawsuit with U.S. regulators in the month of July. The U.S. Securities and Exchange Commission accused Goldman Sachs Group Inc. (NYSE: GS) of failing to disclose the role that his company, Paulson & Co, played in creating and betting against mortgage security sold to other investors. The SEC never accused Paulson or his firm of wrongdoing, but, Goldman Sachs Group Inc. (NYSE: GS) agreed to pay $550 million to settle the case.
Paulson & Co’s fund also acquired a stake in Exxon Mobil Corp (NYSE: XOM) after the oil and gas giant purchased XTO Energy Inc. The fund held 9.17 million shares of the oil stock valued at $523 million by the end of the second quarter. XTO Energy was purchased by Exxon Mobil on June 28th. The hedge fund also acquired 5 million shares of PMI Group, becoming the ninth-largest holder in the firm.
Paulson, who manages $31 billion in assets, left his largest assets relatively unchanged during the second quarter. His fund owned 31.5 million shares of SPDR Gold Trust, his largest investment, at the end of June, 168 million shares of Bank of America and 506.7 million Citigroup shares, according to the 13F filing.
The data was revealed in a Form 13F filing with the U.S. Securities and Exchange Commission, which is required by money managers that oversee more than $100 million in equities. Firms are required to list their U.S. traded stocks, options and convertible bonds, however, the filings do not show foreign securities or the fund’s cash on hand.
