Third Point's Surge Continues In February

Mar 2 2011 | 9:16am ET

Few, if any, hedge fund managers are as hot right now as Third Point's Daniel Loeb.

The New York-based firm continued its strong run in February, with its funds rising between 3.4% and 4.8% on the month. For the first two months of the year, the funds are already up between 7.2% and 10.4%.

That's on top of what Loeb himself called an "extraordinary" 2010, when the funds returned between 32.8% and 41.7%.

Third Point's returns, obtained by, were led last month by its Ultra Fund, which returned 4.8% (10.4% year-to-date). Third Point Partners was up 3.7% (8.1% YTD), Third Point Offshore 3.6% (7.6% YTD) and Third Point Partners Qualified 3.4% (7.2% YTD).

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