Dan Loeb’s Third Point returned 9.1% in its flagship Offshore fund and 10.4% in its Ultra fund, bringing their full-year returns to 24.2% and 26.1%, respectively, for 2024. The S&P 500 gained 2.4% in the fourth quarter. The fund was up 3.3% in January driven by gains in UBS, Amazon and Meta, according to a recent investor email.
Returns were hurt in January by Danaher, DSV and Pacific Gas & Electric which Third Point notes "no direct liability" for any fires near Los Angeles and trades at approximately 11x earnings.
Ahead of the firm’s 13F release, Hedge Fund Alpha has exclusively learned that Third Point exited Workday and Airbus entirely during the fourth quarter and slashed its stakes in
