Third Point Investors Ltd - feeder fund that invests in the Third Point Offshore Fund - Third Point LLC returns 1.2% in the flagship Offshore Fund during the fourth quarter of 2022, compared with the 500 Index return of 9.9% and the MSCI World Index return of 7.5% in the same period. Says the fourth quarter results lagged the performance of relevant indices, largely due to its defensive positioning, weakness of several large positions, and the write-off or markdowns in crypto-related private investments. Positively, says it sees the current environment as ideal ‘for an approach to investing that focuses on companies trading at attractive valuations with catalysts to realize full value’.

Back in September, the company said in the six months to June 30, Third Point’s NAV per share decreased by 23% to $25.04 at June 30 from $32.37 at December 31, 2021. It generated a NAV total return of negative 23%, underperforming its benchmarks.

Current stock price: $21.00

12-month change: down 17%

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