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Loeb Increases AIG Stake, Soros Jumps on J.C. Penney

NEW YORK (TheStreet) -- Hedge fund heavyweight Dan Loeb released his hedge fund's 13F filing with the SEC yesterday, revealing his hedge fund's holdings for the second quarter, which ended June 30.

Loeb, the founder and CEO of Third Point, bought into fourteen new stocks and increased his holdings in eight others. Notably, he more than quadrupled his holding of American International Group (AAPL), buying 7.75 million shares to bring his total stake to 10 million shares.

Other large acquisitions included Irish pharmaceutical company Elan (ELN), Walt Disney (DIS), Marathon Petroleum (MRO), Tiffany (TIF), and shares of Wiliams (WMB).

Notable exits and reductions included Third Point's entire holding of Apple (AAPL), Delphi Automotive (DLPH), Hess (HES), Murphy Oil (MUR) and Virgin Media (VMED)

George Soros released his 13F filing with the SEC yesterday, revealing his holdings for the second quarter, which ended June 30.

Most notably, the Hungarian billionaire bought a large stake in J.C. Penney (JCP), bringing his total to nearly 20 million shares. He also held a position of nearly 5 million shares in Herbalife (HLF) as of the end of the quarter.

This comes as Soros and Bill Ackman have had disputes over Herbalife. Soros and Ackman have clashed recently, with Ackman even accusing Soros of insider trading for its Herbalife position, but Soros' long position on J.C. Penney seems to indicates he agrees with Ackman at least on the struggling retailer and that it will recover.

Soros exited positions in US Airways (LCC), Halliburton (HAL), and SPDR Gold Trust (GLD), while pairing positions in Netflix (NFLX) and Citigroup (C).

--Written by Laura Berman in New York

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