Paulson & Co Files 13D on Callon Petroleum, Opposes Carizzo Oil Acquisition

John Paulson's hedge fund firm Paulson & Co has filed a 13D with the SEC regarding shares of Callon Petroleum (CPE).  Per the filing, Paulson now owns 9.5% of the company with over 21.59 million shares.  This is a brand new position for the hedge fund as they did not report any shares on their most recent 13F filing which discloses portfolios as of June 30th.

Paulson has gone activist and sent the board of directors a letter highlighting they oppose the acquisition of Carizzo Oil & Gas.  Paulson outlines a few reasons for their position: 1) Callon stock is down 36% since acquisition's announcement, 2) Co is offering an unwarranted premium to Carrizo, 3) Callon shareholders would be diluted, 4) Callon would no longer be a premium pure-play company, 5) Callon could be worth over 60%+ in a takeover, 6) Permian basin pure-plays remain attractive acquisition targets.  They go on to list other reasons as well.


Paulson & Co's Letter to Callon Petroleum

Embedded below is Paulson & Co's letter in its entirety.



You can also access it here.

Paulson & Co Buys More International Tower Hill Mines

John Paulson's hedge fund firm Paulson & Co has filed a 13D and Form 4 with the SEC regarding its stake in International Tower Hill Mines (THM).  Per the filing, Paulson now owns 31.97% of the company with 59.59 million shares. 

The Form 4 notes they bought over 4.1 million shares on March 13th at a price of $0.50 per share.  The 13D notes this transaction was a private placement.

Per Yahoo Finance, International Tower Hill Mines is "a mineral exploration company, acquires and explores for mineral properties in Canada and the United States. It holds or has rights to acquire ownership or leasehold interests in the Livengood Gold Project that covers approximately 19,546 hectares located to the northwest of Fairbanks, Alaska. The company was formerly known as Tower Hill Mines Ltd. and changed its name to International Tower Hill Mines Ltd. in March 1991. International Tower Hill Mines Ltd. was founded in 1978 and is headquartered in Vancouver, Canada."

Paulson & Co Reduces Enzymotec Stake

John Paulson's hedge fund firm Paulson & Co has filed an amended 13G with the SEC regarding its stake in Enzymotec (ENZY).  Per the filing, Paulson now owns 9.17% of the company with over 2.10 million shares.

This is a decrease of around 2.1 million shares in their position size.  They previously owned 4.2 million shares at the end of the second quarter.  The new filing was made due to portfolio activity on August 23rd.

For more on this hedge fund, we've posted other recent activity from Paulson & Co here.

Per Google Finance, Enzymotec is "a nutritional ingredients and medical foods company. The Company's technologies, research expertise and clinical validation process enables it to develop solutions across a range of products. The Company operates in two segments: Nutrition segment and VAYA Pharma segment. Both of the Company's segments offer a range of products that leverage its lipid-related offerings. Its product suite addresses the entire human life-cycle, from infancy to old age, and comprises ingredients in products ranging from infant formula to nutritional supplements, as well as branded medical foods, sold only under a doctor's supervision. It markets its product portfolio to established global consumer companies and physicians and target large and growing consumer health and wellness markets. The Company's clinically-validated products include bio-functional lipid-based compounds designed to address dietary needs, medical disorders and common diseases."

Paulson & Co Trims Valeant Pharmaceuticals Stake

John Paulson's hedge fund firm Paulson & Co has filed a 13D with the SEC regarding its stake in Valeant Pharmaceuticals (VRX).  Per the filing, Paulson & Co now owns 6% of VRX with 20.83 million shares (but note this excludes cash-settled swaps representing economic exposure comparable to 259,500 additional shares of common stock).

This means they reduced their position size by just under one million shares since June when they previously disclosed a prior sale as well.  The latest filing was made due to portfolio activity on August 9th and they sold at $14.6595.

We've highlighted other recent portfolio activity from Paulson & Co here.

Per Google Finance, Valeant Pharmaceuticals is "a pharmaceutical and medical device company. The Company is engaged in developing and marketing a range of branded, generic and branded generic pharmaceuticals, over-the-counter (OTC) products, and medical devices (contact lenses, intraocular lenses, ophthalmic surgical equipment, and aesthetics devices). It operates through two segments: Developed markets and Emerging markets. In the Developed Markets segment, it focuses on the areas of dermatology, neurology, gastrointestinal disorders, and eye health therapeutic classes. In the Emerging Markets segment, it focuses on primarily on branded generics, OTC products and medical devices. Its pharmaceutical products include Xifaxan, Solodyn and Glumetza. Its OTC products include PreserVision, Biotrue and Boston. Its other generic products include Latanoprost and Metronidazole. Its ophthalmic surgical products include intraocular lenses, such as Akreos, enVista, Crystalens and Trulign."

Paulson & Co Trims Trilogy Metals Stake

John Paulson's hedge fund firm Paulson & Co has filed a Form 4 with the SEC regarding its stake in Trilogy Metals (TMQ).  Per the filing, Paulson sold 18,247 shares on June 8th at a price of $0.5985.  After this sale, they still own over 11.56 million shares of TMQ.

For more from this fund, head to other recent portfolio activity from Paulson & Co.

Per Google Finance, Trilogy Metals is "formerly NovaCopper Inc., is a Canada-based base metals exploration company. The Company focuses on exploring and developing its mineral holdings in the Ambler mining district located in Alaska, the United States. The Company's principal assets, the Upper Kobuk Mineral Projects (UKMP or UKMP Projects), are located in the Ambler mining district in Northwest Alaska. The Company's UKMP Projects include approximately 352,943 acres consisting of the Ambler and Bornite lands. The Ambler lands hosts the Arctic copper-zinc-lead-gold-silver Project and other mineralized targets within a 100-kilometer long volcanogenic massive sulfide belt. The Amber lands are located in Northwestern Alaska and consist of over 112,050 acres of Federal patented mining claims and State of Alaska mining claims. The Bornite deposit is located approximately 25 kilometers southwest of its Arctic deposit. The Bornite lands hosts the Bornite carbonate-hosted copper Project."

Paulson & Co Increases Valeant Pharmaceuticals Stake

John Paulson's hedge fund firm Paulson & Co has filed a 13D with the SEC regarding shares of Valeant Pharmaceuticals (VRX).  Per the filing, Paulson now owns 6.3% of VRX with over 21.81 million shares.

This marks an increase of 2.42 million shares since the end of the first quarter when they owned 19.38 million VRX shares. 

Per the 13D filing, Paulson & Co bought 2.71 million shares at a weighted average price of $13.7080 on May 11th.  They then sold 137,000 shares on June 8th at $13.2914.

The filing also notes that on June 14th, John Paulson was appointed to the board of directors.

Per Google Finance, Valeant Pharmaceuticals is "a pharmaceutical and medical device company. The Company is engaged in developing and marketing a range of branded, generic and branded generic pharmaceuticals, over-the-counter (OTC) products, and medical devices (contact lenses, intraocular lenses, ophthalmic surgical equipment, and aesthetics devices). It operates through two segments: Developed markets and Emerging markets. In the Developed Markets segment, it focuses on the areas of dermatology, neurology, gastrointestinal disorders, and eye health therapeutic classes. In the Emerging Markets segment, it focuses on primarily on branded generics, OTC products and medical devices. Its pharmaceutical products include Xifaxan, Solodyn and Glumetza. Its OTC products include PreserVision, Biotrue and Boston. Its other generic products include Latanoprost and Metronidazole. Its ophthalmic surgical products include intraocular lenses, such as Akreos, enVista, Crystalens and Trulign."

Paulson & Co Trims Extended Stay America / ESH Hospitality Position

John Paulson's hedge fund firm Paulson & Co filed a 13D with the SEC regarding its position in Extended Stay America (STAY).  Per the filing, Paulson now owns 10.3% of STAY with over 20 million shares.

This is a decrease of over 8.54 million shares since the end of 2016 when they previously owned 28.6 million STAY shares.  These are paired shares with ESH Hospitality which Paulson also owns and they trimmed that position proportionately as well. 

Paulson sold some STAY shares on March 10th at $16.70 per a Form 4 filed with the SEC.  We previously highlighted that Paulson trimmed this position back in November as well.

Per Google Finance, Extended Stay America is "an integrated owner/operator of Company-branded hotels in North America. The Company operates in hotel operations segment. The Company's business operates in the extended stay sector of the lodging industry. As of December 31, 2016, the Company owned and operated 629 hotels comprising approximately 69,400 rooms located in 44 states across the United States and in Canada. The Company owns and operates its hotels under its brand, Extended Stay America, which serves the mid-price extended stay sector. As of December 31, 2016, the Company also owned and operated three Extended Stay Canada hotels. The Company operates its hotels owned by ESH Hospitality, Inc. (ESH REIT). The hotels are operated by the Operating Lessees, subsidiaries of the Company and are managed by ESA Management LLC (ESA Management), a subsidiary of the Company. ESH Strategies, a subsidiary of the Company, owns the brands related to its business."

Paulson & Co Sells Some Extended Stay America / ESH Hospitality

John Paulson's hedge fund firm Paulson & Co has submitted numerous SEC filings regarding its position in Extended Stay America (STAY) and ESH Hospitality.

Per a Form 4, Paulson sold 4.67 million shares of STAY and ESH Hospitality on November 18th at $14.76 as part of a secondary offering.  Following this sale, Paulson & Co still owns 16.8% of the company with 33 million shares of STAY.

You can see the rest of Paulson & Co's portfolio in the newly released issue of our Hedge Fund Wisdom newsletter.

Extended Stay America and ESH Hospitality are paired shares.  Per the filing, "Each paired share is comprised of one share of common stock of Extended Stay America and one share of Class B common stock of ESH Hospitality, which shares are paired and traded as a single unit.

Per Google Finance, Extended Stay America is "an integrated owner/operator of company-branded hotels in North America. The Company operates in hotel operations segment. Its business operates in the extended stay lodging industry. It owns and operates approximately 630 hotels comprising over 69,400 rooms located in approximately 40 states across the United States and in Canada. It owns and operates its hotels under its core brand, Extended Stay America, which serves the mid-price extended stay segment. In addition, it owns and operates over three Extended Stay Canada hotels. It operates its hotels owned by ESH Hospitality, Inc. (ESH REIT). The hotels are operated by the Operating Lessees, subsidiaries of the Company and are managed by ESA Management LLC (ESA Management), a subsidiary of the Company. ESH Strategies, a subsidiary of the Company, owns the brands related to its business. The Company's extended stay hotels are designed to provide lodging or apartment accommodations." 

This is the second time Paulson has trimmed its Extended Stay America position in the past few months.

Paulson & Co Trims Extended Stay America Stake

John Paulson's hedge fund firm Paulson & Co has filed a couple of SEC filings regarding its paired shares in Extended Stay America (STAY) and ESH Hospitality.

The Form 4 filed indicates that Paulson & Co sold 4,983,333 paired shares in total, at a price of $14.16 per share on October 4th.

After these sales, Paulson still owned 37.67 million shares of STAY, or 19% of the company.

A press release from Extended Stay America indicates that they recently announced a secondary offering of paired shares, each paired share consisting of a share of common stock of STAY and a share of class B stock of ESH Hospitality.  Paulson & Co, Centerbridge Partners, and Blackstone Group were the selling stockholders. 

The company also announced a share repurchase agreement where they repurchased 1.95 million paired shares from the sellers.

We've also posted other recent portfolio activity from Paulson & Co here.

Per Google Finance, Extended Stay America is "an integrated owner/operator of company-branded hotels in North America. The Company operates in hotel operations segment. Its business operates in the extended stay lodging industry. It owns and operates approximately 630 hotels comprising over 69,400 rooms located in approximately 40 states across the United States and in Canada. It owns and operates its hotels under its core brand, Extended Stay America, which serves the mid-price extended stay segment. In addition, it owns and operates over three Extended Stay Canada hotels. It operates its hotels owned by ESH Hospitality, Inc. (ESH REIT). The hotels are operated by the Operating Lessees, subsidiaries of the Company and are managed by ESA Management LLC (ESA Management), a subsidiary of the Company. ESH Strategies, a subsidiary of the Company, owns the brands related to its business. The Company's extended stay hotels are designed to provide lodging or apartment accommodations."

Paulson & Co Trims Trilogy Metals & Synergy Pharma Positions

John Paulson's hedge fund firm Paulson & Co has filed two Form 4's with the SEC.

First, Paulson has reduced his stake in Trilogy Metals (TMQ), formerly known as NovaCopper.  On September 27th and 28th, Paulson sold 11,173 shares at prices of $0.5594 and $0.5503.  After these sales, Paulson still owns over 11.61 million shares.

Per Google Finance, Trilogy Metals is "a Canada-based metals exploration company. The Company is engaged in exploring and developing the Ambler mining district located in northwestern Alaska. The Company's segments are Alaska, USA; Antioquia, Colombia, and Corporate and other. The Company focuses on the Arctic deposit, which is a volcanogenic massive sulfide deposit located approximately 470 kilometers northwest of the City of Fairbanks, Alaska. The Company's Arctic deposit focuses on engineering and environmental site investigation studies. The Company's Bornite deposit is a carbonate-hosted copper deposit located approximately 25 Kilometers southwest of the Company’s Arctic project. The Company's Bornite deposit focuses on exploration, with mineralization and opens to the north, northeast and south."


Second, Paulson & Co also filed another Form 4 regarding its stake in Synergy Pharmaceuticals (SGYP).  On September 27th and 28th, Paulson sold 54,300 shares in total at prices of $5.7458 and $5.6041.  After these transactions, Paulson still owned 24.22 million shares.  We've highlighted how Paulson has been selling SGYP shares recently.

Per Google Finance, Synergy Pharmaceuticals is "a biopharmaceutical company focused on the development and commercialization of gastrointestinal (GI) therapies. The Company's GI platform includes two lead product candidates: plecanatide and dolcanatide. It is engaged in the discovery, research and development involving uroguanylin analogs for the treatment of functional GI disorders and inflammatory bowel disease. Plecanatide is the Company's uroguanylin analog being evaluated for use as a once-daily tablet for two functional GI disorders, chronic idiopathic constipation (CIC) and irritable bowel syndrome with constipation (IBS-C). Plecanatide is a 16-amino acid peptide that is structurally identical to uroguanylin with the exception of a single amino acid change. Dolcanatide is also its uroguanylin analog being explored for inflammatory bowel disease (IBD). Dolcanatide is designed to be an analog of uroguanylin with resistance to standard digestive breakdown by proteases in the intestine." 

Paulson & Co Trims Synergy Pharmaceuticals Position

John Paulson's hedge fund firm Paulson & Co has filed a Form 4 with the SEC regarding its stake in Synergy Pharmaceuticals (SGYP).  Per the filing, Paulson sold over 3.47 million shares in total on September 16th and 19th at prices around $5.61. 

After these transactions, Paulson & Co is left with exposure to SGYP of over 24.28 million shares.

A previously filed Form 3 with the SEC indicates that they had notional principal amount derivative agreements in place as well in the form of cash settled swaps representing share equivalents of 2.21 million shares with strikes ranging from $3.31 to $6.347 and expiration dates ranging from November 4th, 2016 to October 5th, 2017.

You can view other recent portfolio activity from Paulson & Co here.

Per Google Finance, Synergy Pharmaceuticals is "a biopharmaceutical company focused on the development and commercialization of gastrointestinal (GI) therapies. The Company's GI platform includes two lead product candidates: plecanatide and dolcanatide. It is engaged in the discovery, research and development involving uroguanylin analogs for the treatment of functional GI disorders and inflammatory bowel disease. Plecanatide is the Company's uroguanylin analog being evaluated for use as a once-daily tablet for two functional GI disorders, chronic idiopathic constipation (CIC) and irritable bowel syndrome with constipation (IBS-C). Plecanatide is a 16-amino acid peptide that is structurally identical to uroguanylin with the exception of a single amino acid change. Dolcanatide is also its uroguanylin analog being explored for inflammatory bowel disease (IBD). Dolcanatide is designed to be an analog of uroguanylin with resistance to standard digestive breakdown by proteases in the intestine."

Paulson & Co Trims NovaCopper Position

John Paulson's hedge fund firm Paulson & Co has filed a Form 4 with the SEC regarding its stake in NovaCopper (NCQ).  Per the filing, Paulson sold 70,618 shares combined on May 27th and May 31st at prices of $0.5456 and $0.51.

After these transactions, Paulson now owns 11.73 million shares of NCQ.  Paulson had also previously done some other selling in late May.  The firm owned 11.82 million NCQ shares at the end of the first quarter this year.

Per Google Finance, NovaCopper is "a Canada-based company engaged in the exploration and development of its Upper Kobuk Mineral Projects located in the Ambler mining district in Northwest Alaska, the United States. The Company's segments are Alaska, USA; Antioquia, Colombia, and Corporate and other. Its Upper Kobuk Mineral Projects consist of Arctic Project, which contains a polymetallic volcanogenic massive sulfide (VMS) deposit, and Bornite Project, which contains a carbonate-hosted copper deposit. The Company also owns interest in the Titiribi gold-copper exploration project located approximately 70 kilometers southwest of the city of Medellin, in Antioquia Department, Colombia. The Arctic Project is located in the Ambler mining district of the southern Brooks Range, in the Northwest Arctic Borough (NWAB) of Alaska. The Bornite Project is located in the Ambler mining district of the southern Brooks Range, in the NWAB of Alaska. The Bornite Project is located within the Arctic Alaska Terrane."

Paulson & Co Reveals Synthesis Energy Stake

John Paulson's hedge fund firm Paulson & Co has filed a 13G with the SEC regarding shares of Synthesis Energy (SYMX).  Per the filing, Paulson & Co has disclosed a 11.7% ownership stake in SYMX with over 10 million shares.

This is a newly revealed equity position for the hedge fund and the disclosure was made due to portfolio activity on April 14th. 

On this date, the company announced a direct placement of 12 million shares to accredited investors.  While Paulson was not specifically named, it seems likely that this is where their stake was acquired.

Per Google Finance, Synthesis Energy is "a development-stage global energy and gasification technology company that provides products and solutions to the energy and chemical industries. The Company provides technology, equipment and services to global projects which involve the conversion of low quality coals, coal wastes, municipal wastes, agricultural biomass, and other biomass feed stocks into clean synthesis gas (syngas)."

Paulson & Co Reveals Overseas Shipholding Group Position

John Paulson's hedge fund firm Paulson & Co has filed a 13G with the SEC regarding shares of Overseas Shipholding Group (OGISZ).  Per the filing, Paulson now owns 19.35% of the company with over 61.38 million shares. 

This is a newly disclosed position as it has not appeared in their SEC filings previously.  The company recently emerged from Chapter 11 and so it's also possible that Paulson was involved beforehand via a distressed play.  The filing was made due to activity on August 31st.

Per Google Finance, Overseas Shipholding Group is "a tanker company engaged primarily in the ocean transportation of crude oil and petroleum products. The Company’s vessel operations are organized into strategic business units and focused on market segments: crude oil, refined petroleum products and the United States Flag. The International Flag Crude Tanker unit manages International Flag ultra large crude carrier (ULCC), very large crude carrier (VLCC), Suezmax, Aframax, Panamax and Lightering tankers; the International Flag Product Carrier unit principally manages LR1 and MR product carriers and the United States unit manages the Company’s United States Flag vessels. In August 2014, the Company announced that it has emerged from Chapter 11 as a newly reorganized company."

Paulson & Co Boosts NovaCopper & Cobalt International Energy Stakes

John Paulson's hedge fund firm Paulson & Co has filed two 13G's with the SEC.

NovaCopper (NCQ)

First, Paulson's amended 13G on Novacopper (NCQ) indicates that they now own 18.3% of the company with over 11.5 million shares. 

This marks an increase of over 5.59 million shares since the end of the first quarter.  The filing was made due to activity on July 31st.

Per Google Finance, Novacopper is "a base metals exploration company. The Company is engaged in the exploration and development of mineral properties, including the Arctic and Bornite Projects located in Northwest Alaska in the United States of America. Its exploration activities are focused on two deposits in the Ambler district: the Arctic VMS deposit and the Bornite carbonate replacement deposit."


Cobalt International Energy (CIE)

Second, Paulson & Co has filed a 13G regarding shares of Cobalt International Energy (CIE).  Per the filing, the hedge fund firm now owns 10.1% of the company with over 41.8 million shares.

This is an increase of over 14.6 million shares since the end of the first quarter.  The filing was made due to portfolio movement on July 31st.

Per Google Finance, Cobalt International Energy is "oil-focused exploration and production company with a salt prospect inventory in the deepwater of the United States Gulf of Mexico and offshore Angola and Gabon in West Africa. The Company operates its business in two geographic segments: the U.S. Gulf of Mexico and West Africa. The Company’s oil-focused exploration efforts target subsalt Miocene and Inboard Lower Tertiary horizons in the deepwater U.S. Gulf of Mexico."

You can view additional recent portfolio activity from Paulson & Co here.

Paulson & Co Boosts Mallinckrodt Stake Again

John Paulson's hedge fund firm Paulson & Co has filed a Form 4 with the SEC regarding their stake in Mallinckrodt (MNK).  Per the filing, Paulson bought 200,000 MNK shares at $69.6507 on July 31st and 75,000 shares at $69.4541 on August 1st.

After these buys, Paulson & Co now owns 6,999,800 shares of Mallinckrodt. As we've detailed previously, Paulson has been buying MNK repeatedly after they received an option to increase their stake to 20% of the company.

Mallinckrodt has announced an agreement to acquire the controversial Questcor Pharma (QCOR), which has been a favorite short play of many hedge funds.  While Barry Rosenstein's JANA Partners has owned MNK as well, David Einhorn's Greenlight Capital recently revealed in their Q2 letter that they would like to be short the combined entity, primarily due to QCOR.

Per Google Finance, Mallinckrodt is "a global specialty pharmaceuticals company. The Company develops, manufactures, markets and distributes both branded and generic specialty pharmaceuticals, active pharmaceutical ingredients (API) and diagnostic imaging agents. The Company uses its API products in the manufacture of its generic pharmaceuticals and also sells them to other pharmaceutical companies. The Company operates through two segments: Specialty Pharmaceuticals and Global Medical Imaging."

Paulson & Co Updates CNO Financial Group Position

John Paulson's hedge fund firm Paulson & Co has filed an amended 13D with the SEC regarding shares of CNO Financial Group (CNO).  Per the filing, Paulson now owns 4.7% of the company with just over 10.55 million shares.

This marks a slight decrease of 1.9 million shares in their aggregate common stock exposure since the end of the first quarter.  The filing was made due to activity on June 26th.  Their position includes 5 million shares issuable upon exercise of Warrants.

We covered Paulson's original 13D on CNO in 2009.

Per Google Finance, CNO Financial Group is "a holding company for a group of insurance companies operating throughout the United States, which develops, markets and administers health insurance, annuity, individual life insurance and other insurance products. The Company sells its products through three distribution channels: career agents, independent producers (some of whom sell one or more of its product lines exclusively) and direct marketing. The Company’s operating segments include Bankers Life, Washington National and Colonial Penn, which are defined on the basis of product distribution; Other CNO Business, and corporate operations, consisted of holding company activities and noninsurance company businesses."

You can view additional recent portfolio activity from Paulson here.

Odey Asset Management Boosts Cadiz Positiion

Crispin Odey's hedge fund firm Odey Asset Management has filed a 13G with the SEC regarding shares of Cadiz (CDZI).  Per the filing, Odey has revealed a 10.5% ownership stake in CDZI with over 1.7 million shares.

This marks an increase of 720,300 shares since the end of the first quarter.  The filing was required due to activity on May 31st.

You can view other activity from Odey here.

Per Google Finance, Cadiz is "engaged in acquiring and developing land and water resources. The Company’s primary asset consists of 45,000 acres of land in three areas of eastern San Bernardino County, California. The Company’s portfolio of water resources is located in proximity to the Colorado River and the Colorado River Aqueduct (CRA), the principal source of imported water for Southern California, and provides the Company with the opportunity to participate in a variety of water supply, water storage, and conservation programs with public agencies and other partners. It owns approximately 34,000 acres of land and the subsurface strata, inclusive of the unsaturated soils and appurtenant water rights in the Cadiz and Fenner valleys of eastern San Bernardino County (the Cadiz/Fenner Property). It also own approximately 10,800 additional acres in the eastern Mojave Desert, including the Piute and Danby Dry Lake properties."

Paulson & Co Adds To Mallinckrodt (MNK) Stake

John Paulson's hedge fund firm Paulson & Co has filed a Form 4 with the SEC regarding their position in Mallinckrodt (MNK).  Per the filing, Paulson acquired 786,207 shares on  May 7th, 8th, and 9th at prices between $73.0131 and $76.8431. 

After these transactions, Paulson now owns over 6.7 million MNK shares.  For a reference point, they owned 5.6 million shares at the end of 2013 per their 13F filing.  The hedge fund was recently granted an option to increase its stake in MNK to 20%.

Mallinkckrodt has been one of the many pharmaceutical plays involved in M&A lately.  After acquiring Cadence Pharmaceuticals, they recently announced an agreement to acquire the controversial Questcor Pharma (QCOR).  Barry Rosenstein's hedge fund JANA Partners also has a sizable stake in MNK as well.

Per Google Finance, Mallinckrodt is "a global specialty pharmaceuticals company. The Company develops, manufactures, markets and distributes both branded and generic specialty pharmaceuticals, active pharmaceutical ingredients (API) and diagnostic imaging agents. The Company uses its API products in the manufacture of its generic pharmaceuticals and also sells them to other pharmaceutical companies. The Company operates through two segments: Specialty Pharmaceuticals and Global Medical Imaging."

You can view other portfolio activity from Paulson & Co here.

Paulson & Co Boosts Enzymotec Stake

John Paulson's hedge fund firm Paulson & Co has filed an amended 13G with the SEC and updated their stake in Enzymotec (ENZY).  Per the filing, Paulson now owns 19.24% of the company with over 4.1 million shares.

This marks an increase of over 2.4 million shares since the end of 2013.  The filing was made due to activity on February 28th.

Per Google Finance, Enzymotec is "engaged in manufacturing of ingredients and medical foods company. Its technologies, research, and clinical validation process enables the Company to develop differentiated solutions across a variety of products. The Company markets its product portfolio primarily to established global consumer companies and target large and growing consumer health and wellness markets. Its clinically validated products include bio-functional lipid-based compounds designed to address dietary needs, medical disorders and common diseases. The Company operates in two segments: Nutrition and VAYA Pharma. In addition to its existing products, the Company has several other products to address additional indications in the development phase. enzyme processes; lipid modification; lipid analysis; and process technology and development.."