Harbinger Capital Accumulates 6.6% Stake in Sunoco (SUN)
More News related to SUN
- Notable Analyst Rating Changes 11/06: GE, CBS, HD/LOW, M Upgrade; ESLR, RMD, SUN Downgrade
- Howard Weil Downgrades Sunoco (SUN) to Market Perform
- Sunoco (SUN) Reports Q3 Loss of $0.29
- Sunoco Reports Third Quarter 2009 Results
- Trading Radar for 11/05: Starbucks (SBUX), CBS Corp. (CBS), CVS (CVS), Toyota (TM), Thomson Reuters (TRI)
In a 13G filing after the close Friday on Sunoco, Inc. (NYSE: SUN), Philip Falcone's Harbinger Capital disclosed a 6.6% stake (7,732,600 shares) in the company. The hedge fund did not show a stake in Sunoco at the quarter ended 03/31/08. A 13G indicates a 'passive investment.'
Sunoco, Inc., through its subsidiaries, manufactures and markets various petroleum products, including fuels, lubricants, and petrochemicals in the United States.
As of June 1, 2007, Harbinger Capital Partners was managing in excess of $8.7 billion. Harbinger is a disciplined, value investor with an emphasis on intensive credit research. Its focus is on middle market companies that tend to be misunderstood or under-researched by the market. Investment approaches include: Restructuring/Bankruptcy, Turnaround, Liquidation, Event Driven, Capital Structure Arbitrage, Short Sale and Special Situations. Harbinger Capital Partners is a subsidiary of Harbert Management Corporation. Philip Falcone runs Harbinger Capital.
Related Categories
13GsStocks Mentioned
-0.19Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
