Third Point Management, a New York-based investment advisor, released its first-quarter 2025 investor letter. Third Point's flagship Offshore Fund returned -0.6% in Q1 2026. The fund started the quarter strong with gains in semiconductors, memory, equipment, infrastructure, aerospace, and defense. Despite profits and reducing exposures before the Iran war, it slightly declined but outperformed the S&P by 400bps. Market turmoil arose from the unwinding of private credit, a surge in oil prices due to Iran, and crowding in AI trades became a liability. Weak labor data, a benign CPI, and a...
Create a free account, or log in to read the full article
No credit card required.
We may use your email to send marketing emails about our services. Click here to read our privacy policy.