market folly

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.