Daniel Loeb’s Third Point Up Slightly in October

The activist manager’s hedged portfolio led to muted gains in what was a big month for the markets.

Daniel Loeb is the latest high-profile hedge fund manager to report a less-than-stellar performance for October.

The Third Point Offshore Fund, managed by his New York–based firm, Third Point, posted a 1.2 percent gain last month, a fraction of the 4.6 percent return rung up by the S&P 500 during the same period.

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