13-F Watch: Third Point Adds to AIG and Apple

Third Point LLC, the hedge fund run by activist investor Daniel Loeb, upped its stake in American International Group

and Apple

according to the fund's latest 13-F filing. Third Point increased its holdings of AIG by 21.3 million to 23.5 million shares valued at $771 million as of September 30 the filing showed. The hedge fund was also buying more Apple in the quarter, raising its stake by 285,000 shares for a total of 710,000 valued at $474 million. In a letter to investors last month, Loeb said that AIG has "significant upside" and also noted that the company could start paying a dividend as the U.S. Treasury sells down the rest of its stake which was acquired during the 2008 financial crisis. Third Point's largest position remained Yahoo!

. The firm owned 73 million shares valued at $1.17 billion in the Sunnyvale, California tech firm now led by former Google

executive Marissa Mayer.