Third Point Up 10.5% Through April

May 7 2013 | 11:53am ET

It took Third Point just four months to reach double-digit returns in 2013, putting the hedge fund on pace to exceed its 2012 returns and nearly match its huge 2011 returns.

Third Point Offshore rose 1.4% last month and is up 10.5% on the year. Last year, it returned more than 20%, and in 2011 about 40%.

Third Point said its biggest positions were Yahoo!, Virgin Media, American International Group, International Paper and Ally Financial. Yahoo! and AIG were among the chief reasons for the hedge fund's April gains, alongside its bets on Greek sovereign debt and Japan Tobacco. A Japanese macro investment also paid off.

On the other hand, Third Point lost ground on gold and Banco do Brasil, as well as two short positions.


In Depth

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...