Harbinger Denies Share Dump Rumors

Sep 16 2008 | 9:11am ET

Activist hedge fund Harbinger Capital Partners yesterday sought to shoot down rumors that it was liquidating some of its high-profile positions.

Philip Falcone, who runs the Alabama hedge fund manager, said selling by his firm was not behind the double-digit losses posted yesterday by Cablevision Systems, Cleveland-Cliffs Inc., Media General or The New York Times Co., all of which have been the target of activist campaigns led by Harbinger in the last year.

“People are looking at the 13 F registration and making certain assumptions,” Falcone told Reuters of the firm’s latest filing with the Securities and Exchange Commission on Aug. 13. “Quite to the contrary, we are well positioned in this market.”

Falcone said Harbinger remains bullish, although he added that the firm’s portfolio has changed since the 13 F filing.


In Depth

Q&A: Rotation Capital's Rothfleisch On SPAC 2.0

Aug 11 2017 | 7:43pm ET

Corporate actions have long been a staple of event-driven investors, but activity...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Star Mountain: Private Lending in the Lower Middle-Market

Aug 14 2017 | 4:45pm ET

Private credit has become one of the most popular alternative asset classes in recent...

 

From the current issue of