Dan Loeb’s Third Point’s 2010 returns are out. These are officially provided by Third Point and are slightly different from the numbers leaked a couple of days ago. Third Point’s Partners fund returned 41.5% in 2010 vs. 15.1% for the S&P 500 including dividends. Partners fund returned 38.2% in 2009 and lost 32.8% in 2008.
Third Point’s Ultra fund returned 38% in 2010, 44.1% in 2009, and lost 38.6% in 2008. This is the only up year where Ultra fund underperformed Dan Loeb’s Partners fund.
Third Point Offshore fund gained 6.6% in December alone, and 33.5% for the entire year. The Offshore fund has more than $2.5 Billion AUM. The fund’s top winners are Delphi Corp (multiple securities), NXP Semiconductor NV (NASDAQ:NXPI), Lyondell (NYSE:LYB), Chrysler, and Accuride Corp (AURDQ.OB). The fund’s top losers are Fortis and State Bank of India [Bombay:SBI]. Like David Einhorn, Dan Loeb has gold as his largest position. He also has a large Potash (NYSE:POT) position.
Third Point’s Offshore fund has an annualized return of 18.6% vs. 5.5% for the S&P 500.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.