John Paulson has an appetite for hospitality and natural resources, a recent 13D filing for Paulson & Company reveals.
Among Paulson’s largest holdings are in hospitality. The hedge fund has a position in Extended Stay America / ESH Hospitality, where he owns 27% of the stock, as well as a smaller stake in Ryman Hospitality Properties. The hedge fund executive is also gambling on hospitality with Caesars Entertainment Corporation, holding 8.96% of the stock, as well as MGM Resorts International (NYSE:MGM), where he holds 5.87% of the float. The fund also has a 9.08% stake in Ceasars Acquisition Company, a holding company affiliated with CEASARS ENETRTAINMT DL-01 (FRA:C08). In regards to entertainment, the fund has a 2.47% stake in AMC Networks Inc (NASDAQ:AMCX), a 9.84% stake in Cablevision Systems Corp / NY, as well as a 22.85% stake in Houghton Mifflin Harcourt Co. (NASDAQ:HMHC)
The Odey Special Situations Fund was down 0.27% for April, compared to its benchmark, the MSCI World USD Index, which was up 4.65%. For the first four months of the year, the fund is up 8.4%, while its benchmark returned 9.8%. Q1 2021 hedge fund letters, conferences and more The Odey Special Situations Fund is Read More
Natural resource exposure
As previously reported in ValueWalk, Paulson had a significant stake in a number of gold mining stocks. This includes positions in Agnico Eagle Mines Ltd (NYSE:AEM) (TSE:AEM), Allied Nevada Gold Corp. (NYSEMKT:ANV) (TSE:ANV), AngloGold Ashanti Limited (ADR) (NYSE:AU), Gold Fields Limited (ADR) (NYSE:GFI) and IAMGOLD Corp (NYSE:IAG) (TSE:IMG), as well as a large position in Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX).
The 13D shows Paulson’s appetite for natural resources was unabated as it indicates holdings in NovaGold Resources Inc. (USA) (NYSEMKT:NG), holding 11.32% of the float, Whiting Petroleum Corp (NYSE:WLL), 8.72%, Kodiak Oil & Gas Corp (USA) (NYSE:KOG) 9.77%, Gulf Coast Ultra Deep Royalty Trust 5.96%, NovaCopper Inc (NYSEMKT:NCQ) 11.14%, Anglogold Ashanti Limited (ADR) (NYSE:AU), 7.8%, Oasis Petroleum Inc. (NYSE:OAS) 7.36% as well as a 8.3% stake in Enzymotec Ltd (NASDAQ:ENZY), which manufactures nutritional ingredients and medical foods, which fits with pharmaceutical firm Mallinckrodt plc (NYSE:MNK), where he has 9.7% stake.
Smaller financial and consumer exposure
The 13D revealed some exposure to financials, through insurance company CNO Financial Group Inc (NYSE:CNO), where he held 7.7% of the stock, Popular Inc (NASDAQ:BPOP), where he held 8.56% of the Latin American banking stock, as well as National Bank Holdings Corp, where he had a slight 0.59% exposure. He also had exposure to consumer goods through a 9.36% stake in Post Holdings Inc (NYSE:POST), a food manufacturer, as well as discount retailer Family Dollar Stores, Inc. (NYSE:FDO), where he held an 8.58% stake.