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Dan Loeb’s Third Point Posts Small Gain in May

The multistrategy firm's flagship fund is up slightly for the year thanks to gains last month in its stock portfolio.

Third Point founder Dan Loeb’s hedge funds moved more solidly into positive territory last month. But they still lag the overall market’s generally small gains.Third Point Offshore posted a 1.1 percent gain in May, according to its latest monthly report to clients. This is less than half the 2.4 percent

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