Tuesday, 27 September 2016
Last updated 17 hours ago
Dec 5 2012 | 11:04am ET
Third Point is riding its strong 2012 to membership in the 11-figure club.
The New York-based firm's assets topped $10 billion for the first time last month, it told investors, up $400 million from the previous month. Third Point's flagship hedge fund, which accounts for half of its assets under management, added 2.9% in November and is up 17% on the year.
Third Point is among the biggest hedge fund investors in Greek debt, and that country's sovereign bonds were its best-performing investment in November. Greek bonds are the firm's second-largest holding, behind Yahoo! Inc. shares, which were its second-best performing holding last month.
Apple, one of the worst-performing stocks in Third Point's portfolio, has fallen from the hedge fund's list of top holdings.