Third Point Offshore June Exposure Report ~ market folly

Tuesday, July 2, 2013

Third Point Offshore June Exposure Report

Dan Loeb's hedge fund Third Point Offshore returned -1.8% in June and is up 12.6% year-to-date according to their June performance report.

Exposure Levels

Third Point was 62.2% long and -14.7% short equities during the month, leaving them with 47.5% net long equity exposure.  Compared to May, they reduced gross exposure, but their net exposure remains the same.

In credit, Third Point is 37.8% long, -5.8% short, leaving them 32% net long.  This is largely the same as the month prior.

Geographically, they're net long the Americas by 61%, EMEA at 8% net long, and Asia at 14% net long.  The only changes here compared to May are a 1% increase in America exposure and a 1% decrease in Asia exposure.

No Longer Reporting Top Holdings

The big takeaway here is that Third Point is no longer disclosing its top 10 holdings and top winners/losers each month.  They used to report this information in their Offshore report, but are no longer doing so.

For the most recent info we have seen, head to Third Point's recent portfolio activity here and you can also check out Dan Loeb's latest letter to Sony.

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