{"id":728299,"date":"2010-05-17T16:59:00","date_gmt":"2010-05-17T20:59:00","guid":{"rendered":"http:\/\/www.businessinsider.com\/paulson-3-billion-in-bank-of-america-kraft-2010-5"},"modified":"2010-05-17T16:59:00","modified_gmt":"2010-05-17T20:59:00","slug":"paulson-now-owns-3-billion-of-bank-of-america-kraft-shares-liquidated-bac-kft","status":"publish","type":"post","link":"https:\/\/mereja.com\/index\/728299","title":{"rendered":"Paulson Now Owns $3 Billion Of Bank Of America, Kraft Shares Liquidated (BAC, KFT)"},"content":{"rendered":"<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"float_right\" src=\"https:\/\/i0.wp.com\/static.businessinsider.com\/image\/3637544b0756ca49f9f0d300-233-175\/johnpaulson-glasses-tbi.jpg?resize=233%2C175\" border=\"0\" alt=\"johnpaulson glasses tbi\" width=\"233\" height=\"175\" \/><\/p>\n<p>Paulson scooped up tons of bank shares last quarter, continuing <a href=\"http:\/\/www.businessinsider.com\/what-hedge-funds-are-investing-in-2010-2\">a trend we&#8217;ve seen for awhile now<\/a>.<\/p>\n<p>Paulson said back in the fall that <a href=\"http:\/\/www.businessinsider.com\/john-paulson-bank-of-america-is-a-double-from-here-2009-11\">Bank of America was a double <\/a>from there, and that was when BAC was at around $16 per share. The stock is up slightly now, but was up significantly mid-April.<\/p>\n<p>Check out the chart:<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/static.businessinsider.com\/image\/4bf1ad5a7f8b9a00085d0300\/bac.jpg?w=780\" border=\"0\" alt=\"bac\" \/><\/p>\n<p>Here&#8217;s what Paulson bought and sold last quarter, <a href=\"http:\/\/sec.gov\/Archives\/edgar\/data\/1035674\/000103567410000003\/pco033110.txt\">according to his 13F<\/a>:<\/p>\n<p>Bank of America: ~170 million shares, up from ~150 million for a total investment of $3 billion<\/p>\n<p>CIT Group: ~4.5 million shares for ~$170 million<\/p>\n<p>Wells Fargo: 17.5 million shares for ~$550 million (he <a href=\"http:\/\/www.businessinsider.com\/paulson-dumps-a-25-billion-stake-in-wyeth-pharmaceuticals-2010-2\">bought into Wells Fargo<\/a> in Q4 and upped his stake about ~$100 million)<\/p>\n<p>Kraft: Paulson <a href=\"http:\/\/www.businessinsider.com\/what-hedge-funds-are-investing-in-2010-2#kraft-4\">sold out completely<\/a><\/p>\n<p>MGM:&nbsp;40 million shares for ~$500 million<\/p>\n<p>Paulson also bought up (he owned some in Q4 too) Lear Corp, the car seat and car power manufacturer we mentioned <a href=\"http:\/\/www.businessinsider.com\/eric-mindich-eton-park-cars-and-banks-bank-of-america-citigroup-2010-5\">Eric Mindich bought a stake in last quarter.<\/a> And he upped his stake in SPDR slightly.<\/p>\n<p><a href=\"http:\/\/www.businessinsider.com\/paulson-3-billion-in-bank-of-america-kraft-2010-5#comments\">Join the conversation about this story &#187;<\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~r\/TheMoneyGame\/~4\/sJoWcJwWzag\" height=\"1\" width=\"1\"\/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Paulson scooped up tons of bank shares last quarter, continuing a trend we&#8217;ve seen for awhile now. Paulson said back in the fall that Bank of America was a double from there, and that was when BAC was at around $16 per share. The stock is up slightly now, but was up significantly mid-April. Check [&hellip;]<\/p>\n","protected":false},"author":288,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4821],"tags":[],"class_list":["post-728299","post","type-post","status-publish","format-standard","hentry","category-news"],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9NivD-33sL","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/posts\/728299","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/users\/288"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/comments?post=728299"}],"version-history":[{"count":0,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/posts\/728299\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/media?parent=728299"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/categories?post=728299"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/tags?post=728299"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}