Exposure & Performance
‐
0.1% 0.0%
‐
0.1%
Net
1.4% 0.0%0.2% 0.0% 0.2%
‐
0.1% 0.0%
‐
0.1%
‐
0.1% 0.0%
‐
0.1%
ConsumerEnergyFinancialsHealthcare
$1,619
Performance
AUM(m)
0.0% 0.0% 0.0%0.4% 0.0% 0.4%0.2%0.2% 0.0%0.7%
‐
0.2% 0.5%1.4%
‐
2.0%
‐
0.6%15.9%
‐
2.1% 13.8%1.4%3.3% 0.0%8.9%
‐
1.4% 7.5%6.4%
‐
2.0% 4.4%
Long/Short
Equity
3.3%12.1%
‐
5.9% 6.2%6.1%
‐
1.0% 5.1%
Long ShortLong Short Net
IndustrialsTechnologyBasic
MaterialsCommunications
Performance Statistics
1
Annualized
Return
Cumulative
PerformanceAnnual
Standard
DeviationAnnual
Downside
DeviationCorrelation
to
S&P
500Sharpe
Ratio
Partners
L.P.21.7%1705%14.0%7.8%0.361.48
7.0%170%15.9%11.1%6.8%
3.5%
7.3% $207
$400
$314
‐
Exposure
P&L
Gross Asset Allocation By Strategy
AUM: US$2.9 Billion | February 28, 2010Event-Driven, Value Investing
Third
Point
Offshore
Fund,
Ltd.Third
Point
Partners
L.P.Third
Point
Partners
Qualified
L.P.Third
Point
Ultra
Ltd.S&P
500
2.6%
6.4%
2.4%
6.6%
3.1%
‐
0.6%
FebruaryYTD
3.2%
1.000.50
S&P
500
CreditMBSArbOther
100%120%140%160%180%200%
1
All
performance
since
inception,
June
1995.
2
Top
(long
or
short)
individual
equities
and
credit
exposure,
including
indices
&
other
market
hedges,
divided
by
AUM.
0.0% 0.0% 0.0%0.1% 0.0% 0.1%0.1% 0.0% 0.1%
‐
0.2% 0.0%
‐
0.2%0.0% 0.5% 0.5%1.2% 0.3% 1.5%0.0% 0.0% 0.0%11.1%
‐
0.5% 10.6%4.0%
‐
0.4% 3.6%6.6% 0.0% 6.6%
‐
0.1% 63.4%14.9%
‐
0.1%0.5%
‐
0.1% 0.4%0.0%
‐
3.8%
‐
3.8%55.5%
‐
18.2% 37.3%
Geographic Exposure
PrivatesOtherTotal
Other
Distressed
Performing
MBS
Total
Credit
Other
Risk
ArbitrageUtilitiesMarket
Indices
/
FXTotal
L/S
Equity
Credit
63.5%
Position Concentration
2
Top Positions
Net91%20%2%
Top
20
58%14%
Top
10
YRC
Worldwide,
Inc.
Top Winners
Ception
TherapeuticsChrysler
(Mult.
Sec.)
CIT
Group,
Inc.
(Mult.
Sec.)
Liberty
Media
Corp.
‐
InteractiveEnphase
Energy,
Inc.Chrysler
(Mult.
Sec.)PHH
Corp.
(Mult.
Sec.)Delphi
Corp.
(Mult.
Sec.)
CIT
Group,
Inc.
(Mult.
Sec.)
Dana
Holding
Corp.
(Mult.
Sec.)
Top Losers
HeidelbergCement
AGRexam
PLCHealth
Net,
Inc.Gartmore
Group
Ltd.37%10%LongShortLong Short106%
‐
15%22%
‐
2%
‐
2%0.0% 0.0% 0.0%1.7% 0.0% 1.7%
‐
0.1% 0.0%
‐
0.1%1.8% 0.0% 1.8%0.0% 0.0% 0.0%EuropeAsia 0%Americas14.8%18.7% 0.0% 18.7%29.9% 0.0% 29.9%
Long/Short
0%20%40%60%80%8/09 10/09 11/09 12/09 1/10 2/10
Third
Point
LLC
|
390
Park
Avenue
|
New
York,
NY
10022
|
ir@thirdpoint.com
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