Berkowitz's Fairholme Now Controls Nearly 1/4 or AIG (AIG) Current Common Shares

July 12, 2010 5:12 PM EDT
In an amended 13G filing after the close, Bruce Berkowitz's Fairholme Capital disclosed he raised his stake in AIG (NYSE: AIG) to 32,789,000 shares, or 24.3%, up from a prior stake of 25,467,800 shares, or 18.9%, disclosed in a May 10 filing.

Note: If the government converted its 80% ownership into common, Fairholme stake would be far less.

In the past, Berkowitz said AIG is cleansed and it is now clear enough to see how taxpayers get paid back by AIG. Berkowitz also said a potential rights offering will help the company move forward.

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