Third Point’s Surprising Pullback on Long Positions

Dan Loeb said the fund was bullish on stocks for 2025 in a client letter made public in early February. Now that stance appears to be changing.

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Third Point turned much more bearish at the end of February.

The hedge fund headed by Dan Loeb cut its net long exposure from 71.2 percent to less than 53 percent, mostly by boosting its short exposure more than 12 percentage points, according to its February monthly report.

The

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