The Motley Fool – One of the big headlines earlier this year involved American International Group’s ascension to the top spot among hedge fund holdings. Knocking the reigning darling (Apple) from its top spot, the insurer was put back in the spotlight as it made strong headway in its recovery. But with the most recent quarter’s 13F-HR filings showing that some hedge funds have exited their position in the company, is it safe to say that AIG’s reign is over?
Every quarter, investment managers with over $100 million in qualifying assets have to report their holdings to the SEC. It’s in these reports that investors and analysts can tally the changes in holdings from period to period. As of year-end 2012, AIG was the top holding for hedge funds, with more coming on board.
But the most recent filings show that at least four prominent names on Wall Street have either significantly reduced their holdings or exited their positions in AIG completely:
With names like George Soros, David Tepper, and Louis Moore Bacon taking money out of the insurer, some might think that it signals an end to the rally AIG has been enjoying so far this year.