Tepper’s Appaloosa, Bacon Cut AIG Stakes Amid Rally
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David Tepper’s Appaloosa Management LP joined Jana Partners LLC and Louis Moore Bacon’s Moore Capital Management LP in cutting stakes in insurer American International Group Inc. amid a share rally.
Appaloosa reduced its AIG holding about 29 percent in the first quarter to 4.3 million shares as of March 31, according to a regulatory filing today. Moore Capital exited its stake of about 3.6 million shares, and Jana Partners sold its 3.5 million share investment.