13F-HR 1 pco063010.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: June 30, 2010 Check here if Amendment [ ]; Amendment Number: This Amendment (Check only one): [ ] is a restatement [ ] adds new holdings entries Institutional Investment Manager Filing this Report: Name: Paulson & Co. Inc. Address: 1251 Avenue of the Americas New York, NY 10020 13F File Number: 028-10010 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this submission. Person Signing this Report on Behalf of Reporting Manager: Name: Stuart Merzer Title: General Counsel Phone: 212-956-2221 Signature: Place: Date of Signing: Stuart Merzer New York, NY August 13, 2010 Report Type (Check only one): [X] 13F HOLDINGS REPORT [ ] 13F NOTICE [ ] 13F COMBINATION REPORT List of Other Managers Reporting for this Manager: FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 1 Form 13F Information Table Entry Total: 78 Form 13F Information Table Value Total: $22,928,921 List of Other Included Managers: No. Form 13F File Number Name 01 028-10011 Paulson Management LLC FORM 13F INFORMATION TABLE
VALUE SHRS OR SH/ PUT/ INVEST OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000) PRN AMT PRN CALL DSCRETN MGRS SOLE SHARED NONE Airgas Inc COMMON 009363102 62200 1000000 SH DEFINED 01 1000000 Alcon Inc COM SHS H01301102 143226 966500 SH DEFINED 01 966500 American Capital Ltd COMMON 02503Y103 210755 43725000 SH DEFINED 01 43725000 Anglogold Ashanti Ltd. SPONSORED ADR 035128206 1889119 43749864 SH DEFINED 01 43749864 Apache Group COMMON 037411105 286246 3400000 SH DEFINED 01 3400000 Apollo Group Inc CL A 037604105 67952 1600000 SH DEFINED 01 1600000 Ashford Hospitality Trust COM SHS 044103109 21990 3000000 SH DEFINED 01 3000000 Bank of America Corp COMMON 060505104 2411203167794229 SH DEFINED 01 167794229 Bank of America Corp W Exp 01/201 060505146 229500 30000000 SH DEFINED 01 30000000 Bank of America Corp W Exp 10/201 060505153 28700 10000000 SH DEFINED 01 10000000 Beazer Home USA Inc. COMMON 07556Q105 21054 5800000 SH DEFINED 01 5800000 Beazer Homes 7.5% 01/15/13 NT SUB 7.5% 07556Q402 3069 150000 SH DEFINED 01 150000 Beazer Homes USA Inc. UNIT 99/99/99 07556Q501 1652 90000 SH DEFINED 01 90000 Barrick Gold Corp COMMON 067901108 18164 400000 SH DEFINED 01 400000 Boston Scientific Corp COMMON 101137107 464000 80000000 SH DEFINED 01 80000000 Boyd Gaming Corp COMMON 103304101 33960 4000000 SH DEFINED 01 4000000 Casey's General Stores COMMON 147528103 24430 700000 SH DEFINED 01 700000 Comcast Corp. COM NEW CL A 20030N101 764280 44000000 SH DEFINED 01 44000000 Capital One Financial Cor COMMON 14040H105 685100 17000000 SH DEFINED 01 17000000 Capital One Financial Cor W EXP 11/201 14040H139 61006 3992520 SH DEFINED 01 3992520 CB Richard Ellis Group In CL A 12497T101 183735 13500000 SH DEFINED 01 13500000 Cheniere Energy Inc COM NEW 16411R208 21041 7461191 SH DEFINED 01 7461191 CIT Group Inc COM NEW 125581801 113131 3341134 SH DEFINED 01 3341134 Citigroup Inc. COMMON 172967101 1905192506700000 SH DEFINED 01 506700000 Conseco Inc. COM NEW DELETE 208464883 80833 16329873 SH DEFINED 01 16329873 Conseco Financial Group COM ADDED 12621E103 40219 8125127 SH DEFINED 01 8125127 Dex One Corporation COM ADDED 25212W100 69851 3676394 SH DEFINED 01 3676394 Devon Engergy Corporation COMMON 25179M103 201036 3300000 SH DEFINED 01 3300000 Directv COM CL A 25490A101 173137 5104281 SH DEFINED 01 5104281 Dyncorp International Inc CL A 26817C101 98112 5600000 SH DEFINED 01 5600000 Exxon Mobil Corp COMMON 30231G102 523290 9169259 SH DEFINED 01 9169259 Family Dollar Stores COMMON 307000109 226140 6000000 SH DEFINED 01 6000000 Felcor Lodging Trust Inc. COMMON 31430F101 22455 4500000 SH DEFINED 01 4500000 Felcor Lodging Trust Inc.PFD CV A $1.95 31430F200 10618 524100 SH DEFINED 01 524100 First Horizon National Co COMMON 320517105 84928 7417302 SH DEFINED 01 7417302 General Growth Properties COMMON 370021107 87005 6561500 SH DEFINED 01 6561500 Gold Fields Ltd. SPONSORED ADR 38059T106 321549 24050000 SH DEFINED 01 24050000 Goldman Sachs Group Inc COMMON 38141G104 144397 1100000 SH DEFINED 01 1100000 Hartford Financial Servic COMMON 416515104 973720 44000000 SH DEFINED 01 44000000 Hyatt Hotels Corp COM CL A 448579102 11127 300000 SH DEFINED 01 300000 Inventiv Health Inc COMMON 46122E105 84480 3300000 SH DEFINED 01 3300000 Iamgold Corp COMMON 450913108 47736 2700000 SH DEFINED 01 2700000 JPMorgan Chase & Co. COMMON 46625H100 256270 7000000 SH DEFINED 01 7000000 JPMorgan Chase & Co. W EXP 10/201 46634E114 236722 18727997 SH DEFINED 01 18727997 Kinross Gold Corp COM NO PAR 496902404 567456 33140000 SH DEFINED 01 33140000 Lear Corporation COM NEW 521865204 91474 1381785 SH DEFINED 01 1381785 Mariner Energy Inc COMMON 56845T305 214800 10000000 SH DEFINED 01 10000000 Marshall & Ilsley Corp COM NEW 571837103 172679 24050000 SH DEFINED 01 24050000 Macerich Co COMMON 554382101 47815 1281221 SH DEFINED 01 1281221 McClatchy Co CL A 579489105 18200 5000000 SH DEFINED 01 5000000 Mead Johnson Nutrition Co COM CL A 582839106 107147 2137800 SH DEFINED 01 2137800 MGM Resorts International COMMON 552953101 422232 43800000 SH DEFINED 01 43800000 Mirant Corp COM NEW 60467R100 192227 18203321 SH DEFINED 01 18203321 Mylan Inc. COMMON 628530107 511200 30000000 SH DEFINED 01 30000000 Northern Trust Corp. COMMON 665859104 46700 1000000 SH DEFINED 01 1000000 Novagold Resources Inc. COM NEW 66987E206 140887 20181818 SH DEFINED 01 20181818 Novell Inc. COMMON 670006105 170400 30000000 SH DEFINED 01 30000000 Odyssey Healthcare Inc COMMON 67611V101 80160 3000000 SH DEFINED 01 3000000 Pfizer Inc. COMMON 717081103 325128 22800000 SH DEFINED 01 22800000 PMI Group Inc COMMON 69344M101 14450 5000000 SH DEFINED 01 5000000 Popular Inc COMMON 733174106 178667 66666660 SH DEFINED 01 66666660 Randgold Resources Ltd ADR 752344309 46901 495000 SH DEFINED 01 495000 Regions Financial Corp COM NEW 7591EP100 127282 19343700 SH DEFINED 01 19343700 SPDR Gold Trust GOLD SHS 78463V107 3832920 31500000 SH DEFINED 01 31500000 Sprint Nextel Corp. COM SER 1 852061100 42400 10000000 SH DEFINED 01 10000000 Smith International Inc. COMMON 832110100 75300 2000000 SH DEFINED 01 2000000 Sonicwall Inc COMMON 835470105 38775 3300000 SH DEFINED 01 3300000 Starwood Property Trust I COMMON 85571B105 17730 1046000 SH DEFINED 01 1046000 Starwood Hotels & Resorts COMMON 85590A401 109375 2640000 SH DEFINED 01 2640000 State Street Corp COMMON 857477103 67640 2000000 SH DEFINED 01 2000000 Strategic Hotel & Resort COMMON 86272T106 35120 8000000 SH DEFINED 01 8000000 Sunstone Hotel Invs Inc. COM NEW 867892101 49650 5000000 SH DEFINED 01 5000000 Suntrust Bank Inc. COMMON 867914103 707870 30380700 SH DEFINED 01 30380700 Supermedia Inc. COMMON 868447103 47691 2607504 SH DEFINED 01 2607504 Sybase Inc COMMON 871130100 452620 7000000 SH DEFINED 01 7000000 Talecris Biotherapeutics COMMON 874227101 105500 5000000 SH DEFINED 01 5000000 Vail Resorts Inc. COMMON 91879Q109 78196 2239924 SH DEFINED 01 2239924 Wells Fargo & Co. COM NEW 949746101 448000 17500000 SH DEFINED 01 17500000 22928921