Third Point Ultra Up 12.42% Through Mid-March

Mar 28 2013 | 11:38am ET

Third Point is well on its way to posting gains similar—or better—than those it enjoyed last year.

The New York-based firm's $1.7 billion Ultra Fund, which is more highly levered than its flagship Offshore Fund, is up 12.42% through March 13, according to HSBC Private Bank. The fund soared 34.5% last year.

Ultra was up 3.3% in the first half of March.

Third Point's Offshore Fund is up 8.5% through March 13.

The hedge fund has profited this year from its investments in Japan and Greece, and in AIG, Herbalife and Morgan Stanley. All five of the fund's top positions at the end of February were up through March 13.

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