Third Point Ramps Up Net Long Equity Exposure in December
From market folly
January 8, 2013 - 11:29am
Dan Loeb's Third Point Offshore Fund finished 2012 up 21.2%, managing just over $5 billion. In the hedge fund's most recent December report, we see their exposure levels and latest top holdings:
The main takeaway from Third Point's latest exposure report is their sizable increase in net long equity exposure. They went from being 27.7% net long at the end of November to 43.1% net long at the end of December.
They are slightly net short healthcare and their largest net long exposure comes in the TMT (tech, media & telecom) and industrial sectors.
In credit, Loeb's firm is net long 29.5% and their largest allocation there continues to be asset backed securities.
Third Point's Top Positions
1. Yahoo! (YHOO)
2. American International Group (AIG)
4. Ally Financial (multiple securities held)
5. Murphy Oil (MUR)
to the month prior, ther...
Continue reading this article »
Share This Article: