Third Point Up Almost 16% In First Quarter

Apr 5 2010 | 1:08pm ET

The first quarter went out like a lion for hedge fund Third Point.

The $3 billion New York-based firm more than doubled its returns for the quarter last month, thanks in part to its credit and financials bets. The firm’s flagship Offshore fund added 8.1% in March, leaving up it 15.5% on the year.

The firm’s other funds did nearly as well, or better. Third Point Ultra added 9.1% on the month (16.5% YTD), Third Point Partners added 9% (16.9% YTD) and Third Point Partners Qualified added 8% (14.8% YTD).

Third Point’s funds rose about 38% last year.

This year, the hedge fund is benefitting from its big credit positions, which account for 64% of its total exposure. It also saw double-digit returns from its biggest financials holdings, Bank of America and Citigroup.


In Depth

Q&A: High Conviction, Low Correlation

Oct 30 2014 | 7:35am ET

Acadian Asset Management's numbers are big: over $70 billion in assets under management...

Lifestyle

Ex-Hedgie Steyer Gives $56M To Climate Action Super PAC

Oct 28 2014 | 9:23am ET

Retired Farallon Capital founder Tom Steyer has poured almost $56 million into his...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

Demeter: Family affair

David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.