Third Point Pares Back Market Exposure

Dan Loeb’s multistrategy hedge fund cut the size of the short book in August.


Illustration by II

Dan Loeb cut back on the size of his equity book in August.

The head of multistrategy hedge fund firm Third Point reduced the gross exposure to stocks from 122 percent to around 107 percent, according to the firm’s August monthly report.

Most of the change was in the short book, as Loeb slashed his short exposure from 26.5

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