Third Point Snaps Up AI Stocks And Credit In H1 [Full Letter]

Dan Loeb’s hedge fund, Third Point, returned 1.1% in the second quarter of 2023, according to a copy of the firm’s latest investor update, which ValueWalk has reviewed (the full letter can be found below). Following this performance, the fund is down -3.0% for the year to the end of June compared to 16.9% for the S&P 500 index and 2.1% for the Credit Suisse HF Event-Driven Index. While Third Point has lagged behind its benchmarks in 2023, its long-term performance is far more impressive. Since its inception in December 1996, the fund has returned 12.9% annualized for clients, compared…