Third Point Surges on Bets Made After Market Bottom

The hedge fund’s biggest winners this year include positions created after 2020’s stock market trough — including two that drove Third Point’s surging gains last month.

September 3, 2020

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Alibaba was one of Third Point's biggest winners in August. (Gilles Sabrie/Bloomberg) — Alibaba was one of Third Point’s biggest winners in August.

Dan Loeb’s Third Point Offshore Fund is back in the black after strong results in August.

The multistrategy fund surged 8.4 percent last month and is now up a solid 4.4 percent for the year, according to its latest monthly performance report. August’s gains were mostly driven by the fund’s equity book, which is now profitable for the year.

Three

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