Bloomberg News

Moore Capital Sells AIG Stake While Adding Citigroup Shares (1)

May 15, 2013

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

To contact the editor responsible for this story: Christian Baumgaertel at

Ebola Rising

Companies Mentioned

  • AIG
    (American International Group Inc)
    • $52.96 USD
    • -1.06
    • -2.0%
  • C
    (Citigroup Inc)
    • $51.1 USD
    • -0.72
    • -1.41%
Market data is delayed at least 15 minutes.
blog comments powered by Disqus