Allergan Inc. (AGN), DIRECTV (DTV), Covidien plc (COV): Paulson & Co’s New Stock Picks in Q2

In its latest 13F filing with the U.S. Securities and Exchange Commission, Paulson & Co, managed by John Paulson, has disclosed its equity portfolio for the second quarter of 2014. The fund’s portfolio has a reported market value of $23.1 billion. Over the second quarter, Paulson & Co acquired more than 8 new stocks, sold out over six stocks, and reduced holdings in more than 13 stocks. In this piece, we are going to talk about top new holdings in terms of value.

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Allergan Inc. (NYSE:AGN) is on the first spot. Paulson & Co holds 5.60 million shares of the company, with a reported value of more than $940 million. Allergan Inc. (NYSE:AGN) is a multi-specialty health care company, with a market cap $46.24 billion. For the second quarter of 2014, the company reported $1.37 diluted earnings per share attributable to stockholders, compared to $1.17 diluted earnings per share attributable to stockholders in the same quarter of last year.

Samuel Isaly’s Orbimed Advisors disclosed owning 1.54 million shares, and Highfields Capital Management, led by Jonathon Jacobson, reported holding 629,043 shares of Allergan Inc. (NYSE:AGN).

Another newcomer is DIRECTV (NASDAQ:DTV), in which the fund disclosed ownership of 10 million shares, worth $850.1 million. DIRECTV (NASDAQ:DTV) is a provider of digital television entertainment services, with a market cap of more than $40 billion. In May, AT&T (NYSE:T) entered into an agreement to acquire DIRECTV (NASDAQ:DTV) in a stock-and-cash transaction. The purchase price implies a total equity value of $48.5 billion and a total transaction value of $67.1 billion, including the company’s net debt. The deal is expected to close within approximately 12 months, according to a press release.

In its latest 13F, Warren Buffett’s Berkshire Hathaway revealed holding 23.47 million shares of DIRECTV (NASDAQ:DTV). Another hedge fund, Harris Associates, wholly owned by Natixis Global Asset Management, reported owning 376,814 shares of the company.

Covidien plc (NYSE:COV) is occupying the third spot. Paulson & Co holds 7.0 million shares of the company, with a reported value of nearly $632 million. Covidien plc (NYSE:COV) is a global health care leader that has a market cap of $39.4 billion. For the third quarter of fiscal 2014, the company reported operating income of $366 million, versus $542 million in the same period the year before. Third-quarter net sales of $2.69 billion increased 4%, both on a reported and on an operational basis, from the $2.58 billion in the third quarter a year ago.

In its recent 13F filing, Nancy Havens-Hasty’s Havens Advisors revealed a $9.4 million stake in Covidien plc (NYSE:COV), containing 104,000 shares of the company. Zug, Switzerland-based Argentiere Capital, led by Deepak Gulati, reported owning 438,000 shares of the company, with a reported value of $39.5 million.

Disclosure: none

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