John Paulson's top holdings (April 2026) include Perpetua Resources Corp. (PPTA), a company focused on advancing its gold and antimony mining project in Idaho.

John Paulson is the founder and portfolio manager of Paulson & Co., an investment management firm based in New York. The firm's investment approach typically involves event-driven strategies, focusing on mergers, acquisitions, and other corporate actions, as well as holding positions in various sectors including healthcare and natural resources.

Perpetua Resources Corp. (PPTA)

Perpetua Resources Corp. is primarily engaged in the exploration and development of mineral properties in the United States. Its flagship project, the Stibnite Gold Project in Idaho, aims to re-establish a domestic source of antimony while also producing gold. The company holds a market capitalization of $3.22 billion, with John Paulson's position currently valued at $909.61 million. Analysts have set a price target of $41.0 for Perpetua Resources, and its discounted cash flow analysis suggests a value of $0.67 per share.
Here's an overview of John Paulson's trades in Perpetua Resources Corp.:

Madrigal Pharmaceuticals Inc (MDGL)

Madrigal Pharmaceuticals Inc is a clinical-stage biopharmaceutical company focused on the development and commercialization of novel therapeutics for nonalcoholic steatohepatitis (NASH). Their lead product candidate aims to address this liver disease with significant unmet medical need. Madrigal Pharmaceuticals has a market capitalization reaching $11.71 billion, and this holding in John Paulson's portfolio is currently worth $893.84 million. The company's discounted cash flow value is estimated at $1.35K per share, while analysts peg its price target at $782.8.
Here's an overview of John Paulson's trades in Madrigal Pharmaceuticals Inc:

Bausch Health Companies Inc (BHC)

Bausch Health Companies Inc is a global company that develops, manufactures, and markets a range of pharmaceutical products, primarily in the areas of gastroenterology, dermatology, and ophthalmology. It also operates Bausch + Lomb, a global eye health business. The current value of John Paulson's position in Bausch Health Companies stands at $395.58 million, against the company's market cap of $1.86 billion. For Bausch Health, the discounted cash flow value is $7.45 per share, and an analyst price target is set at $8.0.
Here's an overview of John Paulson's trades in Bausch Health Companies Inc:

Novagold Resources Inc. (NG)

Novagold Resources Inc. is a precious metals company focused on the exploration and development of gold properties. Its primary asset is a 50% interest in the Donlin Gold project in Alaska, one of the world's largest undeveloped gold deposits. Novagold Resources boasts a market capitalization of $3.59 billion, and John Paulson's investment is currently valued at $244.6 million. A discounted cash flow analysis for the company indicates a value of $-0.15 per share.
Here's an overview of John Paulson's trades in Novagold Resources Inc.:

International Tower Hill Mines Ltd (THM)

International Tower Hill Mines Ltd is a mineral exploration company engaged in the acquisition, exploration, and development of mineral properties. Its principal asset is the Livengood gold project located in Alaska, which holds significant gold resources. With a market cap of $436.93 million, International Tower Hill Mines sees John Paulson's position valued at $229.02 million. The discounted cash flow calculation for the company stands at $0.01 per share.
Here's an overview of John Paulson's trades in International Tower Hill Mines Ltd: