Moore Capital Sells AIG Stake While Adding Citigroup

Moore Capital Management LP, the hedge-fund firm run by Louis Moore Bacon, sold its stake in American International Group Inc. (AIG) as it added to its holding of Citigroup (C) Inc. and bought shares of Morgan Stanley (MS) in the first quarter.

Moore, based in New York, sold its 3.55 million shares of New York-based AIG, valued at $125.3 million at the end of last year, according to a filing today with the U.S. Securities and Exchange Commission. The firm added 525,000 shares of New York-based Citigroup, bringing its total to 5.23 million shares valued at $231.2 million. Citigroup is Moore’s largest holding by market value.

The $12.1 billion hedge-fund firm bought 4.49 million shares of Morgan Stanley, valued at $98.6 million, during the quarter. Moore sold 2.05 million shares of JPMorgan Chase & Co. to bring its holding to about 3 million shares, valued at $142.9 million, and sold 1.74 million shares in Bank of America Corp. (BAC) to retain a stake valued at about $122.6 million. Moore also sold all of its 1.9 million shares of Wells Fargo & Co. (WFC), valued at $64.8 million.

Kenny Juarez, a Moore spokesman at Burson-Marsteller, declined to comment.

To contact the reporter on this story: Alexis Leondis in New York at aleondis@bloomberg.net

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net

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