Harbinger Capital Bets Big on Sprint
Market Folly submits:(This post is part of our series on tracking hedge fund portfolios. If you're unfamiliar with tracking investments they disclose via SEC filings, check out our series preface on hedge fund 13F filings.)Next up is Philip Falcone's hedge fund Harbinger Capital Partners. Falcone runs his $6 billion hedge fund with a focus both on distressed and equity plays and often takes concentrated positions in companies. And, that last reason is exactly why we track Harbinger. Even though we can't see the fund's distressed plays (Harbinger isn't required to disclose them), we can track the equity plays that it has high conviction in. You aren't going to devote large portions of your portfolio to one company unless you truly believe in your thesis. After having a dismal 2008, Harbinger had a solid showing last year as it finished up 46.5% as we noted in our 2009 hedge fund performance numbers post.Complete Story »
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