Third Point Master Fund May 2026 Performance
Third Point Master Fund reported a 3.2% return for May 2026, contributing to a year-to-date performance of 7.3%. The fund's asset mix consists of 80% in Third Point Offshore Fund, Ltd. and 20% in Malibu Life Reinsurance SPC. The strategy's net weightings at period-end were 52.7% in Equity, 34.8% in Credit, 5.3% in Privates, and 2.9% in Other. Key contributors for May included SK Hynix Inc and Hut 8 Corp, while Telephone and Data Systems, Inc. and CRH PLC were among the top detractors.
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Monthly Update: May 2026 Performance
May 2026 Performance Highlights
Third Point Offshore Fund, Ltd. returned 3.2% in May 2026.
The
top contributors for the month included enterprise technology company SK Hynix Inc, a private position, and utilities company Hut 8 Corp.
The top detractors for the month included media and internet company Telephone and Data Systems, Inc., industrial and materials company CRH PLC, and consumer discretionary company Somnigroup International Inc.
Net Performance
| MTD | QTD | YTD | |
|---|---|---|---|
| Third Point Offshore Fund, Ltd. 2 | 3.2% | 7.9% | 7.3% |
| Current Malibu Life Asset Mix | |||
| 3 | |||
| Third Point Offshore Fund, Ltd. | 80% | ||
| Malibu Life Reinsurance SPC | 20% | ||
Portfolio Detail
4
The net weightings of the strategy at period-end were 52.7% in Equity, 34.8% in Credit, 5.3% 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 | 75.1% | -22.4% | 52.7% | 3.5% | -0.3% | 3.1% | 2.5% | 6.4% | 1.1% | 7.5% | 5.3% |
| Credit | 35.0% | -0.2% | 34.8% | 0.4% | 0.0% | 0.4% | 0.3% | 1.5% | 0.0% | 1.6% | 1.1% |
| Privates | 5.3% | 0.0% | 5.3% | 0.9% | 0.0% | 0.9% | 0.8% | 0.9% | 0.0% | 0.9% | 0.7% |
| Other 7 | 2.9% | 0.0% | 2.9% | -0.1% | -0.2% | -0.3% | -0.3% | 0.2% | 0.0% | 0.2% | 0.2% |
| Total | 118.2% | -22.6% | 95.6% | 4.6% | -0.5% | 4.1% | 3.2% | 9.0% | 1.2% | 10.2% | 7.3% |
Portfolio Detail
MTD Contributors
8
SK Hynix Inc (enterprise technology company)
Private
Hut 8 Corp. (Utilities)
Quebecor Inc (media and internet company)
Rolls-Royce Holdings PLC (industrials and materials company)
MTD Detractors
8
Telephone and Data Systems, Inc. (media and internet company)
CRH PLC (industrials and materials company)
Somnigroup International Inc (consumer discretionary company)
Short
API Group Corp (industrials and materials company)
YTD Contributors
8
SK Hynix Inc (enterprise technology company)
MasTec Inc. (industrials and materials company)
Amazon.com Inc. (e-commerce company)
Private
Siemens Energy AG (industrials and materials company)
YTD Detractors
8
CoStar Group Inc. (financial company)
Capital One Financial Corp. (financial company)
Somnigroup International Inc. (consumer discretionary company)
CRH PLC (industrials and materials company)
Brookfield Corp. (financial company)
Top Gross Equity Longs
8
Amazon.com Inc. (e-commerce company)
Nvidia Corp. (enterprise technology company)
Warner Bros Discovery Inc. (media and internet company)
TSMC (enterprise technology company)
Rolls-Royce Holdings PLC (industrials and materials company)
Top Gross Corporate Credit Longs
8,9
Bausch Health Cos Inc. (healthcare company)
Coreweave Inc. (enterprise technology company)
Connect Holding II LLC (telecommunications company)
AMC Entertainment Holdings Inc. (movie theatre company)
Ardagh Group SA (industrials and materials company)
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