The firm was founded in 1995 by Daniel S. Loeb, who serves as Chief Executive Officer. Review and Outlook Third Point’s Offshore Fund lost - 11.9% during the Fourth Quarter, bringing returns for 2018 to -11.3%. Review and Outlook During the second quarter of 2017, Third Point earned +4.6% in the Offshore Fund, During the first half of this year, we primarily focused on event-driven strategies, including activist investing. The Firm seeks to identify situations where we anticipate a catalyst will unlock value. The firm was founded in 1995 by Daniel S. Loeb, who serves as Chief Executive Officer. Third Point’s letter to investors for the fourth quarter ended December 31, 2019 discussing FPAC SPAC. This was the fourth time in 24 years that we sustained a loss of over 1% in a <> Third Point hereby disclaims any duty to update any information in this letter. In this letter, we set forth what drove these disappointing 1 0 obj Third Point Investors Limited (“TPIL”) is the London-listed, closed-end fund managed by Daniel S. Loeb’s Third Point LLC. Our investment, including options, currently amounts to over $3.5 billion. Third Point focuses on event-driven, value-oriented investing. The S&P’s 12% peak‐to‐trough drawdown during the quarter was the sharpest since Review and Outlook Third Point’s Offshore Fund gained 8.8%. We hold this stake in our funds and in a special purpose vehicle raised for this opportunity. February 10, 2021 . Since inception in 1996, Third Point Offshore has generated a net annualized return of 14.5%. April 17, 2019 . Following further gains last month, we have substantially reduced losses incurred during the First Quarter, bringing year‐to‐date losses for the Offshore Fund to ‐3.7% through July 31. Third Point is an SEC-registered investment adviser based in New York. stream endobj Since inception in 1995, Third Point Partners has generated a net annualized return of 17.4%. Third Point LLC 390 Park Avenue New York, NY 10022 Tel 212 715 3880 October 20, 2017 Third Quarter 2017 Investor Letter Review and Outlook During the third quarter of 2017, Third Point earned 3.4% in the Offshore Fund and 4.9% in the Ultra Fund, bringing total returns for the year to 14.5% and 23.0%, respectively, Assets under management at September 30, 2020 were approximately $13.7 billion, including $700 million in the Third Point Structured Credit Opportunities Fund.1 As we look ahead in 2021, we believe we are well-positioned to use Third Point's strategies to generate strong risk-adjusted returns. Third Point employs an event-driven, value-oriented investment style. The firm was founded in 1995 by Daniel S. Loeb, who serves as Chief Executive Officer. ¸RgqûÖöüp¢àÞëö‚{ïZþ¹á²Ý…)££ƒÁÅ££Á££ƒ!¢¥ƒ¡Q (Àä1:pZ“``¸¤EXlƒ #+ËF&]Æ|¦3Lëw0ígÊbòe¼À¸ŠiSî*—˜“úÿÃVhg2Vë3\a¸á®ÆÀÀ7›‘Í38ñ"æPÏ+1°HûiF êÒÊ,27€43¯&X¬®@Uù ÂP/ Third Point LLC is an SEC-registered investment adviser based in New York. ���h&0V���B����K˅����(`X4� V��>>��e��� �:�� RM�h�$Y�Nf��CA��Bɜf�+#�i�`b\��4�>�v�����E�LT�7:D 3��=�. 2 0 obj 1. during the First Quarter of 2019. Second Quarter 2020 Investor Letter August 6, 2020 Dear Investor: During the Second Quarter, Third Point returned 10.8% in the Offshore Fund. Second Quarter 2019 Investor Letter. During the Third Quarter, Third Point returned 11.7% in the flagship Offshore Fund and 14.7% in the Ultra Fund, putting us back in positive territory for the year. Third Point hereby disclaims any duty to update any information in this letter. Fourth Quarter 2018 Investor Letter. WELCOME. TPIL is a feeder fund that invests in Third Point Offshore Fund, Ltd. (the “Master Fund”). endobj <>/Metadata 385 0 R/ViewerPreferences 386 0 R>> Third Point is an SEC-registered investment adviser based in New York. Tel 212 715 3880 . July 26, 2019. Third Point LLC 390 Park Avenue New York, NY 10022 Tel 212 715 3880 . �� endstream endobj 272 0 obj <. 2007. February 21, 2019 . Second Quarter 2017 Investor Letter . Third Point LLC 390 Park Avenue New York, NY 10022 Tel 212 715 3880 May 1, 2014 First Quarter 2014 Investor Letter Review and Outlook Harsh winter weather caused the economy and corporate earnings to falter in the first quarter of this year, a seasonal phenomenon we expect will dissipate this spring. %PDF-1.7 Dear Investor: During the Fourth Quarter, Third Point returned +16.1% in the flagship Offshore Fund. Third Point LLC 390 Park Avenue New York, NY 10022 Tel 212 715 3880 October 24, 2019 Third Quarter 2019 Investor Letter Third Point’s Offshore Fund lost ‐0.2% during the Third Quarter of 2019 and returned +12.7% through September 30, 2019.1 For the year through Q3 2019, our RoA for equity positions was +30.1% and equities contributed over 94% of our total … Third Point LLC, an investment management firm, published its fourth-quarter 2020 Investor Letter – a copy of which can be downloaded here.A net return of … Intel Corporation ("Intel") After building a significant stake in Intel (NASDAQ:INTC) in Q4, we sent a letter on December 29th to Intel's Board Chairman, Omar Ishrak. This July 26, 2017 . Fourth Quarter 2020 Investor Letter . Third Point LLC 390 Park Avenue New York, NY 10022 Tel 212 715 3880. Third Point’s letter to investor for the first quarter ended March 31, 2019.. Review and Outlook. Third Point’s flagship Offshore Fund lost 16% in the First Quarter of 2020 during a period of unparalleled market turmoil. Returns were driven by strong performance several activist and constructivistin positions including endobj First Quarter 2020 Investor Letter April 16, 2020 * Through March 31, 2020. We shared our views regarding Intel's dramatic … Third Point may buy, sell, cover or otherwise change the nature, form or amount of its investments, including any investments identified in this letter, without further notice and in Third Point's sole discretion and for any reason. For 2020, the fund returned +20.5% for Offshore. Fourth Quarter 2019 Investor Letter January 30, 2020 During the Fourth Quarter, Third Point’s Offshore Fund gained 3.9%. <>/ExtGState<>/XObject<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> Returns were driven by strong performance in several activist and constructivist positions including Nestlé (+18.9%), Baxter (+23.8%), United Technologies (+21.7%), and Campbell (+16.7%). Third Point LLC 390 Park Avenue New York, NY 10022 Tel 212 715 3880 . Equities Updates. 3 0 obj Third Point Intel Letter – December 2020 Third Point Walt Disney Company Letter – October 2020 Past performance cannot be relied on as a guide to future performance. %���� Third Point LLC 390 Park Avenue New York, NY 10022 Tel 212 715 3880 October 24, 2019 Third Quarter 2019 Investor Letter Third Point’s Offshore Fund lost ‐0.2% during the Third Quarter of 2019 and returned +12.7% through September 30, 2019.1 For the year through Q3 2019, our RoA for equity 4 0 obj New York, NY 10022 . Third Point may buy, sell, cover or otherwise change the nature, form or amount of its investments, including any investments identified in this letter, without further notice and in Third Point's sole discretion and for any reason. Third Point hereby disclaims any duty to update any information in this letter. Third Point’s Offshore Fund gained 8.8%1 during the First Quarter of 2019. ��p�-�WJ�K��v:����+��� ,B�(T��D�蕾��L�j]��J�\�Ndn�eis�"/U�y�J@6/s鰱�>/_PEW^R�p���T!r��B�ʜ�ޠ �[f��@(E�k��9()B�-���4P�e� t �� Third Point LLC 390 Park Avenue . †Annualized Return from inception December 1996 for TP Offshore and quoted indices. TPIL was listed on the Main Market of the London Stock Exchange in. Q3 YTD* ANNUALIZED RETURN† THIRD POINT OFFSHORE FUND, LTD. 11.7% 3.6% 14.2% CS HF EVENT-DRIVEN INDEX 4.8% -3.1% 6.5% Third Point may buy, sell, cover or otherwise change the nature, form or amount of its investments, including any investments identified in this letter, without further notice and in Third Point’s sole discretion and for any reason. <> [��~��j�}�f�t� ���q������~5�/��_�qz����5�?���|ح��~�J Third Point may buy, sell, cover or otherwise change the nature, form or amount of its investments, including any investments identified in this letter, without further notice and in Third Point… First Quarter 2019 Investor Letter. Third Point LLC 390 Park Avenue New York, NY 10022 Tel 212 715 3880 May 4, 2018 First Quarter Investor Letter Review and Outlook A benign and extended period of low market volatility ended abruptly in the first quarter of 2018.