Third Point Master Fund October 2025 Performance
Third Point Master Fund announced that its Offshore Fund, Ltd. delivered a net return of 1.3% in October 2025, contributing to a year-to-date performance of 8.3%. As of August 31, 2025, the fund's asset mix comprised 88% in Third Point Offshore Fund, Ltd. and 12% in Malibu Life Reinsurance SPC. The portfolio's net weightings were 62.5% in Equity, 32.8% in Credit, 4.8% in Privates, and 2.9% in Other. Top contributors for the month included SK Hynix, Amazon.com Inc., and Carpenter Technology Corp., while CoStar Group Inc., Kenvue Inc., and Meta Platforms Inc. were among the primary detractors.
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October 2025 Performance Highlights
Third Point Offshore Fund, Ltd. returned 1.3% in October 2025.
The top contributors for the month included memory semiconductor company SK Hynix, e-commerce company Amazon.com Inc., and industrials and materials company Carpenter Technology Corp.
The top detractors for the month included financial company CoStar Group Inc., consumer staples company Kenvue Inc., and media and technology company Meta Platforms Inc.
Net Performance
| MTD | QTD | YTD | |
|---|---|---|---|
| Third Point Offshore Fund, Ltd. 2 | 1.3% | 1.3% | 8.3% |
| Current Malibu Life Asset Mix3 | |||
| Third Point Offshore Fund, Ltd. | 88% | ||
| Malibu Life Reinsurance SPC | 12% | ||
Portfolio Detail4
The net weightings of the strategy at period-end were 62.5%% in Equity, 32.8% in Credit, 4.8% in Privates and 2.9% in Other. A breakdown of positions, including major contributors and detractors, is provided below. For further detail please visit:
| EXPOSURE | GROSS MTD P&L 5 | NET MTD P&L 6 | GROSS YTD P&L 5 | NET YTD P&L 6 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| LONG | SHORT | NET | LONG | SHORT | NET | NET | LONG | SHORT | NET | NET | |
| Equity | 117.6% | -55.1% | 62.5% | 1.4% | 0.4% | 1.8% | 1.3% | 12.9% | -2.0% | 10.9% | 7.3% |
| Credit | 32.9% | -0.2% | 32.8% | 0.2% | 0.0% | 0.2% | 0.2% | 2.6% | -0.1% | 2.4% | 1.8% |
| Privates | 4.8% | 0.0% | 4.8% | 0.1% | 0.0% | 0.1% | 0.1% | -0.2% | -0.1% | -0.3% | -0.5% |
| Other 7 | 2.9% | 0.0% | 2.9% | -0.1% | -0.1% | -0.2% | -0.2% | -0.2% | -0.1% | -0.3% | -0.4% |
| Total | 158.2% | -55.2% | 103.0% | 1.6% | 0.3% | 1.9% | 1.3% | 15.1% | -2.3% | 12.7% | 8.3% |
Portfolio Detail
MTD Contributors8
SK Hynix (memory semiconductor company)
Amazon.com Inc. (e-commerce company)
Carpenter Technology Corp. (industrials and materials company)
Nvidia Corp. (enterprise technology company)
TSMC (semiconductor company)
MTD Detractors8
CoStar Group Inc. (financial company)
Kenvue Inc. (consumer staples company)
Meta Platforms Inc. (media and internet company)
SharkNinja Inc. (consumer discretionary company)
Rocket Cos Inc. (financial company)
YTD Contributors8
Siemens Energy AG (energy company)
Nvidia Corp. (enterprise technology company)
TSMC (semiconductor company)
United States Steel Corp. (industrials and materials company)
Phoenix Financial Ltd. (financial company)
YTD Detractors8
Kenvue Inc. (consumer staples company)
Pacific Gas and Electric Co. (utility company)
Carvana Co. (online used automobile retailer)
Glencore PLC (industrials and materials company)
London Stock Exchange Group PL (financial company)
Top Gross Equity Longs8
Pacific Gas and Electric Co. (utility company)
Nvidia Corp. (enterprise technology company)
Microsoft Corp. (infrastructure software company)
Amazon.com Inc. (e-commerce company)
Kenvue Inc. (consumer staples company)
Top Gross Corporate Credit Longs8,9
X Corp. (enterprise technology company)
Bausch Health Cos Inc. (healthcare company)
X.AI Corp. (enterprise technology company)
Connect Holding II LLC (telecommunications company)
MPH Acquisition Holdings LLC (healthcare company)
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