- Reuters•11 hours ago
Daniel Loeb's $16 billion Third Point LLC said on Tuesday that the firm's investments in energy credits drove positive returns during the first half of the year and is devoting over $1 billion to energy corporate credits. "We came into the year with a short credit portfolio that we reversed sharply in February, getting long over $1B in energy credit," Third Point said in its latest quarterly letter to clients. According to the letter, Third Point's Offshore Fund posted returns of 4.6 percent during the second quarter ended June 30, compared with the Standard & Poor's 500 which returned 2.5 percent.
After hours: 167.40-0.27 (-0.16%) as of 7:43 PM EDT
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