2024-05-01 12:45:00 ET
Summary
- Third Point LLC is an SEC-registered investment adviser based in New York. The firm was founded in 1995 by Daniel S. Loeb, who serves as Chief Executive Officer. Third Point focuses on event-driven, value-oriented investing.
- During the first quarter of 2024, Third Point returned 7.8% in the flagship Offshore Fund.
- The top five winners for the quarter were Meta Platforms Inc., Vistra Corp., Amazon.com Inc., Bath & Body Works Inc., and Microsoft Corp.
- The top five losers for the quarter, excluding hedges, were Pacific Gas & Electric Co., DuPont de Nemours Inc., Humana Inc., Marvell Technology Inc., and a Short Position.
- We also see the energy transition and growth in data centers affecting scores of industrial, materials and energy companies as demand for infrastructure and certain commodities surges.
Dear Investor:
During the First Quarter, Third Point returned 7.8% in the flagship Offshore Fund.
1Through March 31, 2024. 2Annualized Return from inception (December 1996 for TP Offshore and quoted indices). |
Read the full article on Seeking Alpha
For further details see:
Third Point Q1 2024 Investor Letter