Billionaire John Paulson‘s Paulson & Company is an alternative investment management company. It was founded in 1994 and is based out of New York. The investment company follows event driven strategy for managing its portfolio. Its goal is to offer above average return over the long run while keeping low correlation with the market.
Paulson & Company holds a diversified equity portfolio that is worth $9.23 billion as of the end of September with pronounced leaning towards Health care stocks, which account for 59% of the value. During the September quarter, Paulson & Company retained a bullish stance and among its prominent purchases during the quarter were Hewlett Packard Enterprise Co (NYSE:HPE), Biogen Inc. (NASDAQ:BIIB), Steris Plc Ordinary Shares (NYSE:STE), and eBay Inc. (NASDAQ:EBAY).
We believe that imitating hedge funds and other large institutional investors can be helpful in identifying stocks capable of outperforming the broader market. Through extensive research that covered portfolios of several hundred large investors between 1999 and 2012, we determined that following the small-cap stocks that large money managers are collectively bullish on, can generate monthly returns nearly 1.0 percentage points above the market (see more details).
Hewlett Packard Enterprise Co (NYSE:HPE)’s stock has gained 54% so far this year. Meanwhile Paulson & Co. initiated a stake in the company during the third quarter, amassing 5.96 million shares worth $135.66 million at the end of September. Of the hedge funds in our database, 63 funds held $2.72 billion worth of Hewlett Packard Enterprise shares in aggregate at the end of June. The company is scheduled to release its fiscal fourth quarter results tomorrow and analysts expect EPS of $0.61 on revenue of $12.85 billion.
In Biogen Inc. (NASDAQ:BIIB), the investor boosted its holding by 150% to 308,000 shares worth $96.41 million during the third quarter. The position was increased as Biogen’s stock advanced by over 29% between July and September, although it’s just 4.2% in the green year-to-date. Among the funds we track, 73 funds amassed $4.04 billion worth of Biogen’s stock in aggregate at the end of the second quarter. The company recently has announced that its SPINRAZATM medication test that children receiving SPINRAZA experienced a highly statistically significant improvement in motor function compared to those who did not receive treatment.