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Harbinger Holdings reported on Monday it was holding more shares of energy companies than it previously had in its portfolio, while also saying it no longer had stakes in a major exchange-traded fund that tracked gold.
The New York-based fund, which is run by Philip Falcone, also said it no longer held shares in the New York Times Co. (NYT).
Harbinger, which gained notoriety for betting against subprime-backed mortgage bonds, reported an increased exposure to energy companies. In particular, the fund said it had 150,000 shares of petroleum refiner CVR Energy Inc. (CVI) and 250,000 shares of natural gas processor Southern Union Co. (SUG).
The fund made the disclosures in a quarterly Securities and Exchange Commission filing required of some investors who manage more than $100 million. The disclosures, known as 13F's, give the public a relatively fresh look inside the portfolios of major money managers.
Harbinger also said it now had a position in BlackBerry smartphone maker Research In Motion Ltd. (RIMM). During the second quarter, RIM sank to recent lows as it struggled to keep its smartphones relevant amid continued popularity of Apple Inc.'s (AAPL) iPhone and devices running Google Inc.'s (GOOG) Android operating system. RIM also began laying off roughly 10% of its workforce in July.
Harbinger also no longer reported holdings in SPDR Gold Trust (GLD), which has been bouncing near all-time highs as investors continue to look at the precious metal as a hedge against economic uncertainties both in the U.S. and abroad.
The firm also no longer reported a stake in New York Times Co. (NYT). Last month, the publisher, which also owns The Boston Globe, reported second-quarter revenue below analyst expectations despite growth in online subscribers.
The value of Harbinger's reported equity assets rose more than 87% from the previous quarter to nearly $2 billion.
-By Ian Sherr, Dow Jones Newswires; 415-439-6455; [email protected]