Third Point Up 2.4% In Oct.

Nov 2 2012 | 1:55pm ET

Third Point continued its strong run in 2012 last month as it nears the $10 billion asset level for the first time.

The New York-based hedge fund said its $4.87 billion flagship hedge fund was up 2.4% last month and is up 13.8% on the year, ValueWalk reports. Third Point founder Daniel Loeb credited much of the success with his bet on Greek debt, which has risen to become one of its three largest positions and was its biggest winner on the month.

Third Point is also investing in Greek stocks, and found success last month with Yahoo! Inc., Murphy Oil Corp., American International Group and Dolphin Capital Investors.

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