John Paulson Takes Stake In AIG, Dumps Alibaba

Billionaire John Paulson's hedge fund bought more than 14.6 million shares of insurer American International Group in the first quarter, while liquidating its position in Chinese e-commerce giant Alibaba , according to a regulatory filing. Paulson & Co.'s stake was worth $800.1 million as of March 31, according to filing-tracking service Whalewisdom.com. Paulson also dumped 1.925 million shares of Alibaba.