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Hedge funds are piling into shares of American International Group (NYSE: AIG). The company's latest investor is the Baupost Group's Seth Klarman. The fund released its 13-F report for the fourth-quarter of 2012 on Wednesday after the market close.

As of December 31, 2012 the hedge fund had established a new 7,000,000 share position in AIG. It also was showing a new position in Microsoft (NASDAQ: MSFT) call options while liquidating its stake in Microsoft's common stock.

Notably, Klarman liquidated his stake in underperforming PC-maker Hewlett-Packard (NYSE: HPQ).

The fund increased stakes in Idenix Pharmaceuticals (NASDAQ: IDIX), News Corporation CL B (NASDAQ: NWS), NovaCopper (NYSE: NCQ), NovaGold Resources (NYSE: NG), and Viasat (NASDAQ: VSAT).

Baupost lowered its positions in Allied Nevada Gold (NYSE: ANV), Aveo Pharmaceuticals (NASDAQ: AVEO), BP (NYSE: BP), Enzon Pharmaceuticals (NASDAQ: ENZN), News Corporation (NASDAQ: NWSA) and Oracle (NASDAQ: ORCL).

Posted-In: Baupost Group Seth KlarmanHedge Funds Movers & Shakers Trading Ideas General Best of Benzinga

 

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