Icahn AIG Stake Said to Be About 2%, Making Him a Top Holder

Is AIG Too Big Too Succeed?

Carl Icahn, the billionaire activist investor who’s pushing for a breakup of American International Group Inc., has amassed a stake of about 2 percent of the insurer’s stock, according to people with knowledge of the holding who asked not to be identified without authorization to speak publicly.

That makes him among the top 10 holders of the New York-based company, according to data compiled by Bloomberg. Icahn didn’t immediately respond to a request for comment.

Icahn said in a letter last week to AIG that the insurer should divide into three companies, one offering property-casualty coverage, another selling life policies and a third backing mortgages. He said separately on Twitter that he holds a “large stake” without specifying its size.

AIG, with a market capitalization of about $83 billion, counts BlackRock Inc. and Vanguard Group Inc. as its biggest investors. Each has a stake of more than 5 percent. Chief Executive Officer Peter Hancock has said he’s already been narrowing the insurer’s focus and seeking to boost returns. He’s scheduled to report third-quarter results after the close of trading Monday and hold a conference call with analysts and investors Tuesday.

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