Below are billionaire John Paulson’s top 5 stock picks. For a comprehensive list see Billionaire John Paulson’s Top 10 Stock Picks.
5. BrightSphere Investment Group Inc. (NYSE: BSIG)
Billionaire John Paulson’s has benefited from its stake in BrightSphere Investment Group Inc. (NYSE: BISG). This is because the share price of BrightSphere rallied almost 110% in the last twelve months. The firm has initiated a position in the asset management holding company in 2018 and it accounted for 8.04% of the overall portfolio at the end of the September quarter
“Our investment performance remains generally stable though there are meaningful headwinds impacting our value-focused strategies in the current growth focused market.” “In our Alternatives segment, the $0.7 billion of net inflows in Q3‘20 reflect modest pickup in the pace of fundraising activity though we continue to expect pandemic driven delay in the timing of fundraises.” “We believe we continue to be on track to achieve our targeted annualized cost savings of over $20 million by Q1’21 in our corporate center through the implementation of an affiliate-led distribution approach.” “On the capital management front, in the third quarter we reduced the borrowings on our corporate revolver to $80 million from $130 million at the end of Q2’20, reducing our Net Debt / Adjusted EBITDA ratio to 1.5x as of the end of the third quarter compared to 1.7x at the end of the second quarter. Additionally, we fully paid off the remaining $22 million outstanding amount on our non-recourse seed facility,” Suren Rana, BrightSphere’s President and Chief Executive Officer said.