13-F Watch: Third Point Adds to AIG and Apple
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! (NASDAQ: YHOO). The firm owned 73 million shares valued at $1.17 billion in the Sunnyvale, California tech firm now led by former Google (NASDAQ: GOOG) executive Marissa Mayer.
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