13F-HR 1 pco123109.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: December 31, 2009 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 February 12, 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: 57 Form 13F Information Table Value Total: $19,795,476 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 Anglogold Ashanti Ltd. SPONSORED ADR 035128206 1721708 42849864 SH DEFINED 01 42849864 Apollo Group Inc. CL A 037604105 50220 829000 SH DEFINED 01 829000 Ashford Hospitality Trust COM SHS 044103109 13920 3000000 SH DEFINED 01 3000000 Bank of America Corporati COMMON 060505104 2274575151034229 SH DEFINED 01 151034229 Bank of America Corporati UNIT 060505419 205299 13760000 SH DEFINED 01 13760000 Burlington Northern Santa COMMON 12189T104 147930 1500000 SH DEFINED 01 1500000 Boston Scientific Corp COMMON 101137107 892215 99135000 SH DEFINED 01 99135000 Chattem Inc. COMMON 162456107 46650 500000 SH DEFINED 01 500000 CIT Group COM NEW 125581801 121239 4391155 SH DEFINED 01 4391155 Comcast Corp. COM NEW CL A 20030N101 741840 44000000 SH DEFINED 01 44000000 Capital One Financial Cor COMMON 14040H105 652800 17000000 SH DEFINED 01 17000000 Capital One Financial Cor*W EXP 11/14/2014040H139 52581 3992520 SH DEFINED 01 3992520 3 Com Corp. COMMON 885535104 75000 10000000 SH DEFINED 01 10000000 CB Richard Ellis Group In CL A 12497T101 182392 13440860 SH DEFINED 01 13440860 Directv COM CL A 25490A101 170228 5104281 SH DEFINED 01 5104281 Cheniere Energy Inc COM NEW 16411R208 18056 7461191 SH DEFINED 01 7461191 Citigroup Inc. COMMON 172967101 1677177506700000 SH DEFINED 01 506700000 Conseco Inc. COM NEW 208464883 122275 24455000 SH DEFINED 01 24455000 Dr Pepper Snapple Group I COMMON 26138E109 43068 1521824 SH DEFINED 01 1521824 Encore Acquisition Co. COMMON 29255W100 70830 1475000 SH DEFINED 01 1475000 Felcor Lodging Trust Inc. COMMON 31430F101 10800 3000000 SH DEFINED 01 3000000 Felcor Lodging Trust Inc.PFD CV A $1.95 31430F200 277 25500 SH DEFINED 01 25500 First Horizon National Co COMMON 320517105 96718 7217770 SH DEFINED 01 7217770 Fifth Third Bankcorp COMMON 316773100 48750 5000000 SH DEFINED 01 5000000 Gold Fields Ltd. SPONSORED ADR 38059T106 308741 23550000 SH DEFINED 01 23550000 Hartford Financial Servic COMMON 416515104 63965 2750000 SH DEFINED 01 2750000 Hyatt Hotels Corp COM CL A 448579102 8943 300000 SH DEFINED 01 300000 JPMorgan Chase & Co. COMMON 46625H100 291690 7000000 SH DEFINED 01 7000000 JPMorgan Chase & Co. W EXP 10/28/20146634E114 249644 18727997 SH DEFINED 01 18727997 Kraft Food Inc. CL A 50075N104 135900 5000000 SH DEFINED 01 5000000 Kinross Gold Corp COM NO PAR 496902404 583322 31500000 SH DEFINED 01 31500000 Lear Corporation COM NEW 521865204 93464 1381785 SH DEFINED 01 1381785 Liberty Media Corp INT COM SER A 53071M708 152295 3300000 SH DEFINED 01 3300000 Marshall & Ilsley Corp COM NEW 571837103 141973 26050000 SH DEFINED 01 26050000 Macerich Co COMMON 554382101 45563 1267407 SH DEFINED 01 1267407 Mead Johnson Nutrition Co COM CL A 582839106 174800 4000000 SH DEFINED 01 4000000 Mirant Corp COM NEW 60467R100 277965 18203321 SH DEFINED 01 18203321 New York Community Trust COMMON 649445103 19589 1350000 SH DEFINED 01 1350000 Northern Trust Corp. COMMON 665859104 52400 1000000 SH DEFINED 01 1000000 Pepsiamericas Inc. COMMON 71343P200 130646 4465000 SH DEFINED 01 4465000 Pepsi Bottling Group Inc. COMMON 713409100 390000 10400000 SH DEFINED 01 10400000 Pfizer Inc. COMMON 717081103 283764 15600000 SH DEFINED 01 15600000 Philip Morris Internation COMMON 718172109 433720 9000200 SH DEFINED 01 9000200 Regions Financial Corp COM NEW 7591EP100 102328 19343700 SH DEFINED 01 19343700 IMS Health Inc. COMMON 449934108 379080 18000000 SH DEFINED 01 18000000 SPDR Gold Trust GOLD SHS 78463V107 3380265 31500000 SH DEFINED 01 31500000 Sprint Nextel Corp. COM SER 1 852061100 36600 10000000 SH DEFINED 01 10000000 Starwood Property Trust I COMMON 85571B105 19759 1046000 SH DEFINED 01 1046000 Starwood Hotels & Resorts COMMON 85590A401 96545 2640000 SH DEFINED 01 2640000 State Street Corp COMMON 857477103 87080 2000000 SH DEFINED 01 2000000 Sun Microsystems Inc. COM NEW 866810203 693380 74000000 SH DEFINED 01 74000000 Sunstone Hotel Invs Inc. COM NEW 867892101 44400 5000000 SH DEFINED 01 5000000 Suntrust Bank Inc. COMMON 867914103 616424 30380700 SH DEFINED 01 30380700 Vail Resorts Inc. COMMON 91879Q109 84669 2239924 SH DEFINED 01 2239924 Valley National Bancorp COMMON 919794107 42390 3000000 SH DEFINED 01 3000000 Wells Fargo & Co. COM NEW 949746101 472325 17500000 SH DEFINED 01 17500000 XTO Energy Inc. COMMON 98385X106 465300 10000000 SH DEFINED 01 10000000 19795476