Third Point Adds 1.2% In Q4, Looks For New Activist Positions [Full 2022 Letter]

Dan Loeb’s Third Point returned 1.2% net in the fourth quarter of 2022 and -21.7% for the full year, according to a copy of its fourth quarter letter that ValueWalk has been able to review. Since its inception in December 1996, Third Point has produced an annualized return of 16% for its investors compared to 9.5% for the S&P 500 Total Return Index and 7.4% for the Credit Suisse High Yield Event-Driven Index. Assets under management stood at $12.6 billion at the end of the year. Defensive Positioning Holds Back Returns In its end-of-year letter to investors, Third Point notes…