Crazy for AIG

Hedge funds' 13F filings are finally rolling in for the third quarter, and so far we've come across a few surprises. It's probably easy enough to assume that some top-notch funds have been trimming their stakes in Apple (AAPL), or that gold miners have been a particular favorite, but you may not have heard about just how popular AIG (AIG) has become.

At the end of the third quarter, 110 of the 400 funds we track had long positions in the insurance giant vs. 61 at the end of the second quarter. That's an 80% increase -- nothing to sneeze at, especially since the names involved read like a "Who's Who" of the hedge-fund world. George Soros has made AIG the largest holding in his 13F portfolio, up from zilch last quarter. Julian Robertson's Tiger Management, Dan Loeb and Leon Cooperman are just a few of the billionaire managers upping the size of their AIG positions. So the logical question is: Why the bullish behavior?...351 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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