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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Third Point Investors Limited | LSE:TPOS | London | Ordinary Share | GG00B1YQ7219 | ORD NPV $ |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 1,800.00 | 1,750.00 | 1,850.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Unit Inv Tr, Closed-end Mgmt | -223.21M | -253.66M | -9.5402 | -2.32 | 587.61M |
From May 2019 to May 2024
Third Point Offshore Investors Limited (the "Company")
(a closed-ended investment company incorporated with limited liability under the laws of Guernsey with registered number 47181)
LEI: 549300WXTCG65AQ7V644
Third Point May 2020 Performance
6/3/2020
Net Performance
| MTD | YTD | |
| Third Point Offshore Fund, Ltd. | 1.6% | -8.9% |
| MSCI World Index (Total Return) | 4.9% | -7.9% |
| S&P 500 (Total Return) | 4.8% | -5.0% |
AUM Breakdown
| Third Point Offshore Fund, Ltd. | $5.7 B |
| Firm1 | $12.7 B |
Portfolio Detail2
| EXPOSURE | GROSS MTD P&L3 | GROSS YTD P&L3 | |||||||||||
| LONG | SHORT | NET | LONG | SHORT | NET | LONG | SHORT | NET | |||||
| Equity | |||||||||||||
| Activism | 28.6% | -9.3% | 19.3% | -0.6% | -0.5% | -1.1% | -6.3% | 1.4% | -4.9% | ||||
| Fundamental & Event | 59.4% | -17.9% | 41.5% | 3.0% | -1.4% | 1.6% | -4.7% | 0.0% | -4.7% | ||||
| Portfolio Hedges4 | 0.0% | -3.3% | -3.3% | 0.0% | -0.3% | -0.3% | 0.1% | 0.8% | 0.9% | ||||
| Total Equity | 88.0% | -30.5% | 57.5% | 2.4% | -2.2% | 0.2% | -10.9% | 2.2% | -8.7% | ||||
| Credit | |||||||||||||
| Corporate & Sovereign | 20.8% | 0.0% | 20.8% | 1.0% | 0.1% | 1.1% | 1.7% | -0.3% | 1.4% | ||||
| Structured | 23.3% | -0.1% | 23.2% | 0.6% | 0.0% | 0.6% | 0.5% | 0.0% | 0.5% | ||||
| Total Credit | 44.1% | -0.1% | 44.0% | 1.6% | 0.1% | 1.7% | 2.2% | -0.3% | 1.9% | ||||
| Privates | 8.5% | 0.0% | 8.5% | 0.0% | 0.0% | 0.0% | -1.2% | 0.0% | -1.2% | ||||
| Other5 | 0.0% | 0.0% | 0.0% | 0.0% | -0.1% | -0.1% | 0.0% | -0.1% | -0.1% | ||||
| Total Portfolio | 140.6% | -30.6% | 110.0% | 4.0% | -2.2% | 1.8% | -9.9% | 1.8% | -8.1% | ||||
Equity Detail
| EXPOSURE | GROSS MTD P&L3 | GROSS YTD P&L3 | |||||||
| EQUITY SECTORS | LONG | SHORT | NET | LONG | SHORT | NET | LONG | SHORT | NET |
| Consumer Discretionary | 14.9% | -2.5% | 12.4% | 0.5% | -0.1% | 0.4% | -3.6% | 0.5% | -3.1% |
| Consumer Staples | 4.0% | -0.7% | 3.3% | 0.1% | -0.1% | 0.0% | -0.1% | -0.1% | -0.2% |
| Energy | 1.2% | -1.0% | 0.2% | -0.1% | -0.1% | -0.2% | -0.9% | -0.2% | -1.1% |
| Financials | 19.8% | -4.1% | 15.7% | -0.1% | 0.0% | -0.1% | -2.8% | 1.4% | -1.4% |
| Healthcare | 10.7% | -3.5% | 7.2% | 0.1% | -0.3% | -0.2% | 0.4% | 0.4% | 0.8% |
| Industrials & Materials | 10.1% | -5.6% | 4.5% | 0.4% | -0.4% | 0.0% | -4.2% | 0.5% | -3.7% |
| Enterprise Technology | 8.2% | -3.4% | 4.8% | 0.7% | -0.3% | 0.4% | -0.2% | 0.2% | 0.0% |
| Media & Internet | 19.1% | -6.4% | 12.7% | 0.8% | -0.6% | 0.2% | 0.4% | -1.3% | -0.9% |
| Portfolio Hedges4 | 0.0% | -3.3% | -3.3% | 0.0% | -0.3% | -0.3% | 0.1% | 0.8% | 0.9% |
| Total | 88.0% | -30.5% | 57.5% | 2.4% | -2.2% | 0.2% | -10.9% | 2.2% | -8.7% |
Equity Geographic Exposure
| LONG | SHORT | NET | |
| Americas | 56.6% | -18.1% | 38.5% |
| EMEA | 21.7% | -7.8% | 13.9% |
| Asia ex-Japan | 4.1% | -0.2% | 3.9% |
| Japan | 5.6% | -4.4% | 1.2% |
| Total | 88.0% | -30.5% | 57.5% |
Equity Market Capitalization6
| LONG | SHORT | NET | |
| >$50 billion | 52.2% | -3.8% | 48.4% |
| $25-50 billion | 23.9% | -2.2% | 21.7% |
| $10-25 billion | 4.2% | -3.4% | 0.8% |
| <$10 billion | 7.4% | -5.3% | 2.1% |
| Indices & Other | 0.3% | -15.8% | -15.5% |
| Total | 88.0% | -30.5% | 57.5% |
Equity Exposure7
| LONG | SHORT | NET | |
| Delta-Adjusted | 88.0% | -30.5% | 57.5% |
| Beta-Adjusted | 84.3% | -28.7% | 55.6% |
| Dollar-Adjusted | 88.0% | -30.4% | 57.6% |
Equity Position
| LONG | SHORT | TOTAL | |
| Equity Positions | 47 | 51 | 98 |
| Top 10 Positions | 47% | -16% | |
| Top 20 Positions | 73% | -23% |
MTD Winners8
The Walt Disney Co.
Burlington Stores Inc
Boeing Co/The
Charter Communications Inc
TE Connectivity Ltd
MTD Losers8
Prudential PLC
Short
Short
Short
ServiceMaster Global Holdings
YTD Winners8
Short
Amazon.com Inc.
Baxter International Inc
The Walt Disney Co.
Sherwin-Williams Co/The
YTD Losers8
Prudential PLC
Raytheon Technologies Corp
Airbus SE
Five Below Inc
Air Canada
Top Gross Longs8
Prudential PLC
Pacific Gas & Electric Co
Sony Corp
Danaher Corp
Amazon.com Inc.
ASC Topic 820 Assets9
| Level I | 52% |
| Level II | 35% |
| Level III | 13% |
Third Point Offshore Fund, Ltd. Historical Performance (Net)
| YEAR | JAN | FEB | MAR | APR | MAY | JUN | JULY | AUG | SEPT | OCT | NOV | DEC | YTD |
| 2020 | 1.1% | -6.6% | -11.3% | 7.1% | 1.6% | -8.9% | |||||||
| 2019 | 3.0% | 2.8% | 2.9% | 1.8% | -1.8% | 3.8% | 2.3% | -0.2% | -2.3% | -1.2% | 2.9% | 2.1% | 17.0% |
| 2018 | 3.8% | -3.0% | -1.3% | 0.8% | 1.1% | -0.5% | -0.3% | 0.2% | 0.0% | -7.0% | 1.2% | -6.4% | -11.3% |
| 2017 | 2.6% | 2.4% | 0.8% | 1.6% | 2.2% | 0.7% | 0.9% | 1.4% | 1.2% | 3.0% | 0.1% | -0.2% | 17.9% |
| 2016 | -3.5% | -0.6% | 1.9% | 1.9% | 1.8% | 0.8% | 3.0% | 0.8% | 1.1% | -0.7% | -0.8% | 0.5% | 6.1% |
| 2015 | -2.3% | 4.8% | 0.9% | 0.5% | 1.9% | -0.8% | 0.7% | -5.3% | -4.5% | 4.7% | -0.2% | -1.2% | -1.4% |
| 2014 | -1.9% | 4.4% | 0.9% | -1.1% | 1.8% | 1.9% | -1.3% | 1.7% | -0.3% | -1.4% | 2.4% | -1.3% | 5.7% |
| 2013 | 4.7% | 1.2% | 2.9% | 1.5% | 3.6% | -1.8% | 2.9% | -0.7% | 2.6% | 1.2% | 2.6% | 2.3% | 25.2% |
| 2012 | 3.9% | 1.0% | 1.5% | -0.1% | -2.6% | 0.2% | 1.5% | 1.7% | 3.4% | 2.5% | 2.9% | 3.4% | 19.2% |
| 2011 | 3.9% | 3.5% | 0.9% | 1.4% | -0.4% | -2.8% | 0.2% | -2.8% | -3.6% | 0.8% | -0.3% | -0.6% | 0.0% |
| 2010 | 3.5% | 3.2% | 7.9% | 3.5% | -5.7% | -2.1% | 3.4% | 0.6% | 4.0% | 4.9% | 0.1% | 6.8% | 33.7% |
| 2009 | 0.4% | 0.3% | -3.3% | 0.8% | 7.3% | 1.7% | 6.6% | 6.4% | 5.6% | -1.0% | 4.3% | 4.6% | 38.6% |
| 2008 | -3.8% | 1.4% | -1.9% | 1.1% | 3.3% | 1.6% | -9.2% | -0.6% | -11.1% | -10.1% | -2.7% | -5.6% | -32.7% |
| 2007 | 4.1% | -0.7% | 4.2% | 2.2% | 6.1% | -1.5% | 1.2% | -8.2% | 2.6% | 5.0% | 0.9% | 1.1% | 17.5% |
| 2006 | 5.1% | 2.2% | 2.3% | 3.7% | -6.2% | -1.3% | -1.0% | 1.0% | -0.6% | 2.3% | 5.2% | 1.4% | 14.4% |
| 2005 | 1.9% | 7.4% | -0.8% | -4.9% | 0.7% | 3.7% | 8.0% | 2.5% | 3.8% | -10.2% | 2.8% | 3.1% | 17.9% |
| 2004 | 3.6% | 3.8% | 0.0% | -0.2% | -2.6% | 6.3% | 0.0% | 1.4% | 3.0% | 0.5% | 9.2% | 1.4% | 29.1% |
| 2003 | 2.6% | 0.2% | -2.3% | 0.8% | 8.2% | 5.4% | 5.9% | 3.8% | 1.5% | 6.2% | 3.5% | 8.2% | 53.0% |
| 2002 | 1.6% | 1.8% | 0.5% | 1.7% | 1.0% | -0.6% | -8.2% | -1.7% | 3.1% | -7.2% | 0.1% | 0.7% | -7.8% |
| 2001 | 2.2% | 3.1% | 2.0% | -3.9% | 2.1% | -1.0% | 0.9% | 1.6% | -2.1% | 0.1% | 1.3% | 5.7% | 12.3% |
| 2000 | 1.8% | 8.3% | 1.6% | -3.6% | -0.3% | 0.0% | 2.4% | 2.0% | 1.2% | 2.3% | 1.9% | -0.9% | 17.4% |
| 1999 | 5.4% | -4.0% | -1.5% | 5.9% | 4.7% | 7.0% | 2.6% | -2.2% | 2.2% | 2.2% | 7.6% | 6.3% | 41.7% |
| 1998 | 1.3% | 5.0% | 4.3% | -0.1% | -3.1% | -2.7% | -3.5% | 0.4% | -2.8% | 3.5% | 3.5% | 3.5% | 8.9% |
| 1997 | 3.5% | 4.5% | -0.3% | 0.6% | 5.7% | 10.8% | 8.2% | -1.9% | 11.0% | -4.5% | 0.0% | 4.1% | 48.8% |
| 1996 | Inception | 2.0% | 2.0% | ||||||||||
1. Firm AUM does not include $1.6B in collateral and other assets managed for TPRE.
2. Unless otherwise stated, information relates to the Third Point Offshore Master Fund L.P. Exposures are categorized in a manner consistent with the Investment Manager's classifications for portfolio and risk management purposes.
3. Gross P&L attribution does not reflect the deduction of management fees, performance allocations and any other expenses which may be incurred in the management of the fund. An investor’s actual return will be reduced by such fees and expenses. See Part 2A of the Adviser's Form ADV for a complete description of the management fees, incentive fees and performance allocations customarily charged by Adviser. Net P&L is available upon request.
4. Primarily broad-based market and equity-based hedges.
5. Primarily currency hedges and speculative macro investments. Speculative rates and macro FX excluded from the exposure figures. Corresponding net exposure is 0.0% for rates and 0.0% for FX. MTD and YTD P&L of Other includes net attribution of speculative macro investments as well as residual gains and losses attributable to unhedged currency movements relative to USD, and interest, income and expense on cash balances.
6. Market capitalization reflects only those holdings that are exchange-listed equity or any synthetic equity with an underlying reference instrument market capitalization.
7. Beta-adjusted exposures are calculated relative to the S&P based on one-year of historical daily returns for USD denominated assets and weekly returns for foreign denominated assets. Dollar-adjusted exposures are calculated with option positions shown at current market value in lieu of delta-adjusted exposure.
8. Excludes any portfolio level hedges and EU MAR related positions.
9. ASC Levels provided are as of March 31, 2020 for Third Point Offshore Master Fund, LP.
Important Notes and Disclaimers
Third Point Offshore Investors Limited is a feeder fund listed on the London Stock Exchange that invests substantially all of its assets in Third Point Offshore Fund, Ltd (“Third Point Offshore”). Third Point Offshore is managed by Third Point LLC (“Third Point” or “Investment Manager”), an SEC-registered investment adviser headquartered in New York.
Unless otherwise noted, P&L, exposure, and position level information are presented at the master fund level where applicable. Exposures are categorized in a manner consistent with the Investment Manager's classifications for portfolio and risk management purposes in its sole discretion.
All fund level net profit and loss or performance results are based on the net asset value of fee paying investors only and are presented net of management fees (which may vary depending on share class), brokerage commissions, administrative expenses, any other expenses of the Funds, and accrued performance allocation, if any, and include the reinvestment of all dividends, interest, and capital gains. While performance allocations are accrued monthly, they are deducted from investor balances annually or upon withdrawal. The net performance results represent fund-level returns (reflecting blended rates of management fees and performance allocations based on the weighted average of the amounts invested in each share class), and are not an estimate of any specific investor’s actual performance, which may be materially different from such performance depending on numerous factors. For example, had the highest management fee been applied solely, performance results would likely be lower. The Funds’ performance information shown within includes net gains and losses from “new issues.” The market price for new issues is often subject to significant fluctuation, and investors who are eligible to participate in new issues may experience significant gains or losses. An investor who invests in a class of Interests that does not participate in new issues may experience performance that is different, perhaps materially, from the performance reflected above. All performance results are estimates and should not be regarded as final until audited financial statements are issued.
While the performance of the Funds has been compared here with the performance of a well-known and widely recognized index, the index has not been selected to represent an appropriate benchmark for the Funds whose holdings, performance and volatility may differ significantly from the securities that comprise the index. Past performance is not necessarily indicative of future results. All information provided herein is for informational purposes only and should not be deemed as a recommendation to buy or sell securities. All investments involve risk including the loss of principal. This transmission is confidential and may not be redistributed without the express written consent of Third Point LLC and does not constitute an offer to sell or the solicitation of an offer to purchase any security or investment product. Any such offer or solicitation may only be made by means of delivery of an approved confidential offering memorandum.
Information provided herein, or otherwise provided with respect to a potential investment in the Funds, may constitute non-public information regarding Third Point Offshore Investors Limited, a feeder fund listed on the London Stock Exchange, or Third Point Reinsurance Ltd., and accordingly dealing or trading in the shares of either listed instrument on the basis of such information may violate securities laws in the United Kingdom, United States and elsewhere.
.
Website:
www.thirdpointoffshore.com
Enquiries:
Company Secretary – Northern Trust International Fund Administration Services (Guernsey) Limited
Tel: +44 148-174-5385
Email: sw171@ntrs.com
Copyright ne 3 PR Newswire
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