Dan Loeb's Third Point
Partners L.P. returned 3.7% in February and 8.1% during the first two months of 2011. His Offshore Fund
returned 3.6% in February and 7.6% till the end of February. Loeb's portfolio
is 64.6% long equities and 8.4% short equities. His net exposure to the stocks is 56.2% which is much higher than David Einhorn's
. Even though Dan Loeb
doesn't want to talk about his short stock positions, his shorts aren't really big positions. He isn't engaged in any risk arbitrage
or currency speculation. His credit exposure is at 29% and he primarily invests in Americas and EMEA.
top 5 positions at the end of February were Gold, Delphi, Chrysler, El Paso Corp, and LyondellBasell. His top winners are Gold, NXP Semiconductor
, El Paso, Technicolor, Williams Companies Inc (WMB). SAC's Steven Cohen
recently expressed that he is also extremely bullish about Williams Companies.
Here is Loeb's February Letter:
Dan Loeb February 2011 Letter