Bloomberg News

Soros Adds AIG, Citigroup, JPMorgan in Third Quarter

November 14, 2012

The $23 billion Soros Fund Management, the family office of billionaire George Soros, added new positions in American International Group Inc. (AIG:US), Citigroup Inc. (C:US) and JPMorganChase & Co. in the third quarter, according to a regulatory filing.

The New York-based firm bought 15.2 million shares of insurer AIG, valued at $499 million at the end of September, according to a filing today with the U.S. Securities and Exchange Commission. Other hedge funds including Dan Loeb’s Third Point LLC and Louis Bacon’s Moore Capital Management LP also bought AIG shares in the quarter.

Soros bought 1.5 million shares of New York-based Citigroup valued at $49.6 million as of Sept. 30, and 979,000 shares of New York-based JPMorgan valued at $39.6 million.

The firm also added 436,000 shares to its stake in SPDR Gold Trust, bringing its total position in the exchange-traded product to 1.3 million shares, valued at $227 million at the end of the quarter, according to the filing.

To contact the reporter on this story: Katherine Burton in New York at kburton@bloomberg.net

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


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Companies Mentioned

  • AIG
    (American International Group Inc)
    • $56.42 USD
    • 0.14
    • 0.25%
  • C
    (Citigroup Inc)
    • $54.43 USD
    • -0.11
    • -0.2%
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