Third Point Treads Water in July

Dan Loeb’s hedge fund sat out last month’s impressive market rally.

David Paul Morris/Bloomberg

David Paul Morris/Bloomberg

The stock market was hot in July, but Third Point Offshore missed the party.

The hedge fund headed by Dan Loeb was essentially flat for the month despite a 9.2 percent gain in the S&P 500, including dividends reinvested, according to Third Point’s July letter to clients.

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