13F-HR 1 pco033110.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: March 31, 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 May 14, 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: 60 Form 13F Information Table Value Total: $21,157,999 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 1660307 43749864 SH DEFINED 01 43749864 Apache Group COMMON 037411105 345100 3400000 SH DEFINED 01 3400000 Apollo Group Inc CL A 037604105 98064 1600000 SH DEFINED 01 1600000 Ashford Hospitality Trust COM SHS 044103109 21510 3000000 SH DEFINED 01 3000000 Bank of America Corp COMMON 060505104 2995127167794229 SH DEFINED 01 167794229 Bank of America Corp W Exp10/2021 060505153 35800 10000000 SH DEFINED 01 10000000 Beazer Home USA Inc. COMMON 07556Q105 22700 5000000 SH DEFINED 01 5000000 Beazer Homes 7.5% 01/13 NT SUB 7.5% 07556Q402 3750 150000 SH DEFINED 01 150000 Barrick Gold Corp COMMON 067901108 15336 400000 SH DEFINED 01 400000 Boston Scientific Corp COMMON 101137107 715755 99135000 SH DEFINED 01 99135000 Boyd Gaming Corp COMMON 103304101 39520 4000000 SH DEFINED 01 4000000 Comcast Corp. COM NEW CL A 20030N101 828080 44000000 SH DEFINED 01 44000000 Capital One Financial Cor COMMON 14040H105 703970 17000000 SH DEFINED 01 17000000 Capital One Financial Cor W EXP 11/14 14040H139 62882 3992520 SH DEFINED 01 3992520 3 Com Corp. COMMON 885535104 76900 10000000 SH DEFINED 01 10000000 CB Richard Ellis Group In CL A 12497T101 213975 13500000 SH DEFINED 01 13500000 Cheniere Energy Inc COM NEW 16411R208 23055 7461191 SH DEFINED 01 7461191 CIT Group Inc COM NEW 125581801 171079 4391155 SH DEFINED 01 4391155 Citigroup Inc. COMMON 172967101 2052135506700000 SH DEFINED 01 506700000 Conseco Inc. COM NEW 208464883 152110 24455000 SH DEFINED 01 24455000 Dex One Corporation COM ADDED 25212W100 102645 3676394 SH DEFINED 01 3676394 Devon Engergy Corporation COMMON 25179M103 212619 3300000 SH DEFINED 01 3300000 Directv COM CL A 25490A101 172576 5104281 SH DEFINED 01 5104281 Family Dollar Stores Inc. COMMON 307000109 219660 6000000 SH DEFINED 01 6000000 Felcor Lodging Trust Inc. COMMON 31430F101 17100 3000000 SH DEFINED 01 3000000 Felcor Lodging Trust Inc.PFD CV A $1.95 31430F200 462 25500 SH DEFINED 01 25500 First Horizon National Co COMMON 320517105 102886 7322867 SH DEFINED 01 7322867 First Midwest Bankcorp COMMON 320867104 5420 400000 SH DEFINED 01 400000 Gold Fields Ltd. SPONSORED ADR 38059T106 297201 23550000 SH DEFINED 01 23550000 Hartford Financial Servic COMMON 416515104 362355 12750000 SH DEFINED 01 12750000 Hyatt Hotels Corp COM CL A 448579102 11688 300000 SH DEFINED 01 300000 Iamgold Corp COMMON 450913108 35694 2700000 SH DEFINED 01 2700000 JPMorgan Chase & Co. COMMON 46625H100 313250 7000000 SH DEFINED 01 7000000 JPMorgan Chase & Co. W EXP 10/28 46634E114 287849 18727997 SH DEFINED 01 18727997 Kinross Gold Corp COM NO PAR 496902404 567078 33140000 SH DEFINED 01 33140000 Lear Corporation COM NEW 521865204 109645 1381785 SH DEFINED 01 1381785 Marshall & Ilsley Corp COM NEW 571837103 193603 24050000 SH DEFINED 01 24050000 Macerich co COMMON 554382101 49084 1281221 SH DEFINED 01 1281221 Mead Johnson Nutrition Co COM CL A 582839106 104060 2000000 SH DEFINED 01 2000000 MGM Mirage COMMON 552953101 480000 40000000 SH DEFINED 01 40000000 Mirant Corp COM NEW 60467R100 197688 18203321 SH DEFINED 01 18203321 Mylan Inc. COMMON 628530107 258215 11370100 SH DEFINED 01 11370100 Northern Trust Corp. COMMON 665859104 55260 1000000 SH DEFINED 01 1000000 Novagold Resources Inc. COM NEW 66987E206 144340 20181818 SH DEFINED 01 20181818 Novell Inc. COMMON 670006105 149750 25000000 SH DEFINED 01 25000000 Pfizer Inc. COMMON 717081103 267540 15600000 SH DEFINED 01 15600000 Randgold Resources Ltd ADR 752344309 38031 495000 SH DEFINED 01 495000 Regions Financial Corp COM NEW 7591EP100 151848 19343700 SH DEFINED 01 19343700 SPDR Gold Trust GOLD SHS 78463V107 3431925 31500000 SH DEFINED 01 31500000 Sprint Nextel Corp. COM SER 1 852061100 38000 10000000 SH DEFINED 01 10000000 Smith International Inc. COMMON 832110100 85640 2000000 SH DEFINED 01 2000000 Starwood Property Trust I COMMON 85571B105 20188 1046000 SH DEFINED 01 1046000 Starwood Hotels & Resorts COMMON 85590A401 123130 2640000 SH DEFINED 01 2640000 State Street Corp COMMON 857477103 90280 2000000 SH DEFINED 01 2000000 Sunstone Hotel Invs Inc. COM NEW 867892101 55850 5000000 SH DEFINED 01 5000000 Suntrust Bank Inc. COMMON 867914103 813899 30380700 SH DEFINED 01 30380700 Supermedia Inc. COMMON 868447103 106647 2607506 SH DEFINED 01 2607506 Vail Resorts Inc. COMMON 91879Q109 89799 2239924 SH DEFINED 01 2239924 Wells Fargo & Co. COM NEW 949746101 544600 17500000 SH DEFINED 01 17500000 XTO Energy Inc. COMMON 98385X106 613340 13000000 SH DEFINED 01 13000000 21157999