0000919574-11-003178.txt : 20110516 0000919574-11-003178.hdr.sgml : 20110516 20110513180131 ACCESSION NUMBER: 0000919574-11-003178 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20110331 FILED AS OF DATE: 20110516 DATE AS OF CHANGE: 20110513 EFFECTIVENESS DATE: 20110516 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HARBERT MANAGEMENT CORP CENTRAL INDEX KEY: 0001259933 IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-12611 FILM NUMBER: 11842760 BUSINESS ADDRESS: STREET 1: 2100 THIRD AVENUE NORTH STREET 2: SUITE 600 CITY: BIRMINGHAM STATE: AL ZIP: 35203 BUSINESS PHONE: 205-987-5500 MAIL ADDRESS: STREET 1: 2100 THIRD AVENUE NORTH STREET 2: SUITE 600 CITY: BIRMINGHAM STATE: AL ZIP: 35203 13F-HR 1 d1193810_13f-hr.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F Cover Page Report for the Calendar Year or Quarter Ended March 31, 2011 Check here if Amendment: |_|; Amendment Number: ____ This Amendment (Check only one): |_| is a restatement |_| adds new holding entries. Institutional Manager Filing this Report: Name: Harbert Management Corporation* Address: 2100 Third Avenue North, Suite 600 Birmingham, Alabama 35203 13F File Number: 028-12611 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. * NOTE: THE VALUES REPORTED HEREIN REFLECT THE MARCH 31, 2011 MARKET VALUES OF CERTAIN SECURITIES ONCE HELD AT LEHMAN BROTHERS INTERNATIONAL (EUROPE) ("LBIE"). LBIE'S ADMINISTRATORS HAVE INDICATED THAT SOME OF THESE SECURITIES HAVE BEEN REHYPOTHECATED, AND TO THE EXTENT SECURITIES WERE IN FACT REHYPOTHECATED, THEY WILL NOT BE RETURNED TO THE REPORTING PERSON. AS OF MARCH 31, 2011 THE REPORTING PERSON IS UNABLE TO ASCERTAIN PRECISELY WHICH SECURITIES ONCE HELD AT LBIE WILL BE RETURNED AND WHICH WILL NOT, AND IS REPORTING ALL SECURITIES ONCE HELD AT LBIE, VALUED AT MARCH 31, 2011 MARKET VALUES, IN THIS REPORT. THIS REPORT ALSO OMITS CERTAIN SECURITIES DERIVED FROM SECURITIES HELD AT LBIE ON SEPTEMBER 12, 2008 THAT SUBSEQUENTLY EXPERIENCED CORPORATE ACTIONS ("DERIVED ASSETS") TO WHICH THE REPORTING PERSON BELIEVES IT HAS RIGHTS, BUT WHICH HAVE NOT BEEN VERIFIED BY LBIE'S ADMINISTRATOR. WHEN FURTHER INFORMATION BECOMES AVAILABLE FROM LBIE'S ADMINISTRATORS CONFIRMING WHICH SECURITIES WERE REHYPOTHECATED AND WHICH WERE NOT, THE REPORTING PERSON EXPECTS TO ADJUST THE SECURITIES REPORTED IN ITS SCHEDULE 13F ACCORDINGLY. Person Signing this Report on Behalf of Reporting Manager: Name: John W. McCullough Title: Senior Vice President and General Counsel Phone: 205-987-5576 Signature, Place, and Date of Signing /s/ John W. McCullough Birmingham, Alabama May 16, 2011 ----------------------- -------------------------- ---------------------- [Signature] [City, State] [Date] Report Type: (Check only one): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report). [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting managers(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: Form 13F File Number Name -------------------- -------------------------- Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 4 Form 13F Information Table Entry Total: 155 Form 13F Information Table Value Total: $376,009 (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. No. Form 13F File Number Name --- -------------------- -------------------------------------------- 1. 028-14263 Harbert Event Opportunities GP, LLC 2. 028-14264 Harbert Event Opportunities Master Fund Ltd. 3. 028-14261 Harbert Value Fund GP, LLC 4. 028-14262 Harbert Value Master Fund, Ltd. FORM 13F INFORMATION TABLE Harbert Management Corporation March 31, 2011
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 -------------- -------------- --------- -------- ------------------ ---------- -------- ------------------------ VALUE SHS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MGRS SOLE SHARED NONE -------------- -------------- --------- -------- ------- --- ---- ---------- -------- --------- ------ ------- AIRGAS INC COM 009363102 744 11,200 CALL SOLE NONE AIRGAS INC COM 009363102 5,546 83,500 CALL DEFINED 1, 2 ALBERTO CULVER CO NEW COM 013078100 250 6,700 SH SOLE NONE 6,700 ALBERTO CULVER CO NEW COM 013078100 1,864 50,000 SH DEFINED 1, 2 50,000 ALEXANDER & BALDWIN INC COM 014482103 768 16,816 SH SOLE NONE 16,816 ALEXANDER & BALDWIN INC COM 014482103 4,565 100,000 SH DEFINED 3, 4 100,000 ALTISOURCE PORTFOLIO SOLNS S REG SHS L0175J104 662 21,562 SH SOLE NONE 21,562 ALTISOURCE PORTFOLIO SOLNS S REG SHS L0175J104 3,866 126,000 SH DEFINED 3, 4 126,000 AMAZON COM INC COM 023135106 2,702 15,000 PUT DEFINED 3, 4 15,000 AMERICAN EAGLE OUTFITTERS NE COM 02553E106 105 6,600 CALL SOLE NONE AMERICAN EAGLE OUTFITTERS NE COM 02553E106 1,271 80,000 SH DEFINED 3, 4 80,000 AMERICAN EAGLE OUTFITTERS NE COM 02553E106 779 49,000 CALL DEFINED 1, 2 AMERICAN SUPERCONDUCTOR CORP COM 030111108 87 3,500 PUT SOLE NONE 3,500 AMERICAN SUPERCONDUCTOR CORP COM 030111108 497 20,000 PUT DEFINED 3, 4 20,000 ASPEN INSURANCE HOLDINGS LTD SHS G05384105 1,440 52,259 SH SOLE NONE 52,259 ASPEN INSURANCE HOLDINGS LTD SHS G05384105 8,406 305,000 SH DEFINED 3, 4 305,000 ATLAS ENERGY LP COM UNITS LP 04930A104 337 15,100 CALL SOLE NONE ATLAS ENERGY LP COM UNITS LP 04930A104 2,567 114,900 CALL DEFINED 1, 2 BANKS COM INC COM 066470105 24 97,500 SH SOLE NONE 97,500 BJS WHOLESALE CLUB INC COM 05548J106 1,113 22,800 CALL SOLE NONE BJS WHOLESALE CLUB INC COM 05548J106 8,265 169,300 CALL DEFINED 1, 2 BLOCK H & R INC COM 093671105 243 14,500 PUT SOLE NONE 14,500 BLOCK H & R INC COM 093671105 2,310 138,000 PUT DEFINED 1, 2 138,000 BROADRIDGE FINL SOLUTIONS IN COM 11133T103 1,815 80,000 SH DEFINED 3, 4 80,000 BRUNSWICK CORP COM 117043109 891 35,029 SH SOLE NONE 35,029 BRUNSWICK CORP COM 117043109 5,206 204,700 SH DEFINED 3, 4 204,700 BUCYRUS INTL INC NEW COM 118759109 741 8,100 SH SOLE NONE 8,100 BUCYRUS INTL INC NEW COM 118759109 5,487 60,000 SH DEFINED 1, 2 60,000 CBS CORP NEW CL B 124857202 876 35,000 SH DEFINED 3, 4 35,000 CEMEX SAB DE CV SPON ADR NEW 151290889 2,833 317,200 SH SOLE NONE 317,200 CEPHALON INC COM 156708109 1,102 14,538 SH SOLE NONE 14,538 CEPHALON INC COM 156708109 1,319 17,400 CALL SOLE NONE CEPHALON INC COM 156708109 8,371 110,462 SH DEFINED 1, 2 110,462 CEPHALON INC COM 156708109 10,048 132,600 CALL DEFINED 1, 2 CIT GROUP INC COM NEW 125581801 1,892 44,477 SH SOLE NONE 44,477 CIT GROUP INC COM NEW 125581801 11,063 260,000 SH DEFINED 3, 4 260,000 CLEARWATER PAPER CORP COM 18538R103 1,000 12,286 SH DEFINED 3, 4 12,286 CLEARWIRE CORP NEW CL A 18538Q105 132 23,600 SH SOLE NONE 23,600 CLEARWIRE CORP NEW CL A 18538Q105 132 23,600 PUT SOLE NONE 23,600 CLEARWIRE CORP NEW CL A 18538Q105 419 75,000 CALL DEFINED 1, 2 CLEARWIRE CORP NEW CL A 18538Q105 585 104,600 SH DEFINED 1, 2 104,600 CLEARWIRE CORP NEW CL A 18538Q105 585 104,600 PUT DEFINED 1, 2 104,600 CONVERGYS CORP COM 212485106 713 49,626 SH SOLE NONE 49,626 CONVERGYS CORP COM 212485106 4,164 290,000 SH DEFINED 3, 4 290,000 DARLING INTL INC COM 237266101 103 6,700 SH SOLE NONE 6,700 DARLING INTL INC COM 237266101 769 50,000 SH DEFINED 1, 2 50,000 DOLLAR THRIFTY AUTOMOTIVE GP COM 256743105 4,524 67,800 CALL SOLE NONE DOLLAR THRIFTY AUTOMOTIVE GP COM 256743105 23,282 348,900 CALL DEFINED 1, 2 DONNELLEY R R & SONS CO COM 257867101 1,886 42,193 SH DEFINED 3, 4 42,193 DR PEPPER SNAPPLE GROUP INC COM 26138E109 2,230 60,000 SH DEFINED 3, 4 60,000 DRUGSTORE COM INC COM 262241102 336 87,225 SH SOLE NONE 87,225 DRUGSTORE COM INC COM 262241102 2,552 662,775 SH DEFINED 1, 2 662,775 EARTHLINK INC COM 270321102 979 125,000 SH DEFINED 3, 4 125,000 EASTMAN KODAK CO COM 277461109 38 11,630 SH SOLE NONE 11,630 EASTMAN KODAK CO COM 277461109 285 88,370 SH DEFINED 1, 2 88,370 EASTMAN KODAK CO COM 277461109 366 113,200 CALL SOLE NONE EASTMAN KODAK CO COM 277461109 2,768 857,000 CALL DEFINED 1, 2 ECHOSTAR CORP CL A 278768106 1,438 38,000 SH DEFINED 3, 4 38,000 ENZON PHARMACEUTICALS INC COM 293904108 654 60,019 SH SOLE NONE 60,019 ENZON PHARMACEUTICALS INC COM 293904108 3,819 350,356 SH DEFINED 3, 4 350,356 EXELON CORP COM 30161N101 1,114 27,005 SH SOLE NONE 27,005 EXELON CORP COM 30161N101 6,475 157,000 SH DEFINED 3, 4 157,000 GENERAL MTRS CO COM 37045V100 1,387 44,684 SH SOLE NONE 44,684 GENERAL MTRS CO COM 37045V100 8,068 260,000 SH DEFINED 3, 4 260,000 GENZYME CORP COM 372917104 883 11,600 SH SOLE NONE 11,600 GENZYME CORP COM 372917104 14,347 188,400 SH DEFINED 1, 2 188,400 GENZYME CORP COM 372917104 3,808 50,000 CALL DEFINED 1, 2 GENZYME CORP COM 372917104 1,401 18,400 CALL SOLE NONE GENZYME CORP COM 372917104 19,799 260,000 PUT DEFINED 1, 2 260,000 GLOBAL INDS LTD COM 379336100 3,084 315,000 SH DEFINED 3, 4 315,000 HUBBELL INC CL B 443510201 1,016 14,300 SH DEFINED 3, 4 14,300 INTERVAL LEISURE GROUP INC COM 46113M108 266 16,291 SH SOLE NONE 16,291 INTERVAL LEISURE GROUP INC COM 46113M108 1,533 93,780 SH DEFINED 3, 4 93,780 IRON MTN INC COM 462846106 372 11,900 CALL SOLE NONE IRON MTN INC COM 462846106 2,751 88,100 CALL DEFINED 1, 2 JOHN BEAN TECHNOLOGIES CORP COM 477839104 448 23,300 SH DEFINED 3, 4 23,300 JOHNSON & JOHNSON COM 478160104 1,881 31,746 SH SOLE NONE 31,746 JOHNSON & JOHNSON COM 478160104 10,961 185,000 SH DEFINED 3, 4 185,000 L-1 IDENTITY SOLUTIONS INC COM 50212A106 49 4,200 PUT SOLE NONE 4,200 L-1 IDENTITY SOLUTIONS INC COM 50212A106 375 31,800 PUT DEFINED 1, 2 31,800 LIBERTY MEDIA CORP NEW CAP COM SER A 53071M302 516 7,000 SH DEFINED 3, 4 7,000 LIBERTY MEDIA CORP NEW INT COM SER A 53071M104 398 24,815 SH SOLE NONE 24,815 LIBERTY MEDIA CORP NEW INT COM SER A 53071M104 4,249 264,915 SH DEFINED 3, 4 264,915 LOEWS CORP COM 540424108 1,032 23,957 SH SOLE NONE 23,957 LOEWS CORP COM 540424108 6,033 140,000 SH DEFINED 3, 4 140,000 LOUISIANA PAC CORP COM 546347105 1,381 131,500 SH DEFINED 3, 4 131,500 LYONDELLBASELL INDUSTRIES N COM N53745100 1,252 31,658 SH SOLE NONE 31,658 LYONDELLBASELL INDUSTRIES N COM N53745100 7,317 185,000 SH DEFINED 3, 4 185,000 MADISON SQUARE GARDEN INC CL A 55826P100 693 25,671 SH SOLE NONE 25,671 MADISON SQUARE GARDEN INC CL A 55826P100 4,049 150,000 SH DEFINED 3, 4 150,000 MAGNA INTL INC COM 559222401 62 1,300 SH SOLE NONE 1,300 MAGNA INTL INC COM 559222401 479 10,000 SH DEFINED 1, 2 10,000 MARATHON OIL CORP COM 565849106 1,515 28,412 SH SOLE NONE 28,412 MARATHON OIL CORP COM 565849106 8,849 166,000 SH DEFINED 3, 4 166,000 MASSEY ENERGY COMPANY COM 576206106 6,029 88,200 SH DEFINED 1, 2 88,200 MECHEL OAO SPONSORED ADR 583840103 1,386 45,000 SH SOLE NONE 45,000 MERCURY COMPUTER SYS COM 589378108 2,666 126,000 SH DEFINED 3, 4 126,000 MGM RESORTS INTERNATIONAL COM 552953101 335 25,505 SH SOLE NONE 25,505 MGM RESORTS INTERNATIONAL COM 552953101 2,548 193,795 SH DEFINED 1, 2 193,795 MI DEVS INC CL A SUB VTG 55304X104 345 11,906 SH SOLE NONE 11,906 MI DEVS INC CL A SUB VTG 55304X104 2,605 89,894 SH DEFINED 1, 2 89,894 MUELLER WTR PRODS INC COM SER A 624758108 220 49,000 SH DEFINED 3, 4 49,000 NABORS INDUSTRIES LTD SHS G6359F103 608 20,000 SH DEFINED 3, 4 20,000 NETFLIX INC COM 64110L106 759 3,200 PUT SOLE NONE 3,200 NETFLIX INC COM 64110L106 4,747 20,000 PUT DEFINED 3, 4 20,000 ORITANI FINL CORP DEL COM 68633D103 369 29,091 SH SOLE NONE 29,091 ORITANI FINL CORP DEL COM 68633D103 2,156 170,000 SH DEFINED 3, 4 170,000 PEP BOYS MANNY MOE & JACK COM 713278109 1,309 102,966 SH SOLE NONE 102,966 PEP BOYS MANNY MOE & JACK COM 713278109 2,542 200,000 CALL DEFINED 1, 2 PEP BOYS MANNY MOE & JACK COM 713278109 7,633 600,560 SH DEFINED 3, 4 600,560 PFIZER INC COM 717081103 1,564 76,988 SH SOLE NONE 76,988 PFIZER INC COM 717081103 9,140 450,000 SH DEFINED 3, 4 450,000 PICO HLDGS INC COM NEW 693366205 1,353 45,000 SH DEFINED 3, 4 45,000 POTLATCH CORP NEW COM 737630103 1,729 43,000 SH DEFINED 3, 4 43,000 PRIDE INTL INC DEL COM 74153Q102 2,577 60,000 SH DEFINED 1, 2 60,000 PROMOTORA DE INFORMACIONES S ADR CL B CONV 74343G303 203 17,000 SH SOLE NONE 17,000 PROMOTORA DE INFORMACIONES S ADR CL B CONV 74343G303 1,509 126,500 SH DEFINED 1, 2 126,500 QUICKSILVER RESOURCES INC COM 74837R104 83 5,815 SH SOLE NONE 5,815 QUICKSILVER RESOURCES INC COM 74837R104 166 11,600 CALL SOLE NONE QUICKSILVER RESOURCES INC COM 74837R104 632 44,185 SH DEFINED 1, 2 44,185 QUICKSILVER RESOURCES INC COM 74837R104 1,265 88,400 CALL DEFINED 1, 2 RADIOSHACK CORP COM 750438103 1,351 90,000 SH DEFINED 3, 4 90,000 SAFETY INS GROUP INC COM 78648T100 1,844 40,000 SH DEFINED 3, 4 40,000 SMURFIT-STONE CONTAINER CORP COM 83272A104 468 12,100 SH SOLE NONE 12,100 SMURFIT-STONE CONTAINER CORP COM 83272A104 3,475 89,917 SH DEFINED 1,2 89,917 SPIRIT AEROSYSTEMS HLDGS INC COM CL A 848574109 1,421 55,364 SH SOLE NONE 55,364 SPIRIT AEROSYSTEMS HLDGS INC COM CL A 848574109 8,305 323,540 SH DEFINED 3, 4 323,540 U S AIRWAYS GROUP INC COM 90341W108 101 11,630 SH SOLE NONE 11,630 U S AIRWAYS GROUP INC COM 90341W108 770 88,370 SH DEFINED 1, 2 88,370 VALEANT PHARMACEUTICALS INTL COM 91911K102 164 3,300 SH SOLE NONE 3,300 VERIGY LTD SHS Y93691106 99 7,000 PUT SOLE NONE 7,000 VERIGY LTD SHS Y93691106 747 53,000 PUT DEFINED 1, 2 53,000 VIRNETX HLDG CORP COM 92823T108 46 2,326 SH SOLE NONE 2,326 VIRNETX HLDG CORP COM 92823T108 58 2,900 CALL SOLE NONE VIRNETX HLDG CORP COM 92823T108 352 17,674 SH DEFINED 1, 2 17,674 VIRNETX HLDG CORP COM 92823T108 440 22,100 CALL DEFINED 1, 2 VODAFONE GROUP PLC NEW SPONS ADR NEW 92857W209 250 8,685 SH SOLE NONE 8,685 VODAFONE GROUP PLC NEW SPONS ADR NEW 92857W209 1,438 50,000 SH DEFINED 3, 4 50,000 WALTER ENERGY INC COM 93317Q105 1,354 10,000 SH DEFINED 3, 4 10,000 WEBSENSE INC COM 947684106 62 2,700 PUT SOLE NONE 2,700 WEBSENSE INC COM 947684106 134 5,815 SH SOLE NONE 5,815 WEBSENSE INC COM 947684106 475 20,700 PUT DEFINED 1, 2 20,700 WEBSENSE INC COM 947684106 1,015 44,185 SH DEFINED 1, 2 44,185 WESTERN DIGITAL CORP COM 958102105 1,723 46,202 SH SOLE NONE 46,202 WESTERN DIGITAL CORP COM 958102105 10,068 270,000 SH DEFINED 3, 4 270,000 WET SEAL INC CL A 961840105 58 13,500 SH SOLE NONE 13,500 WET SEAL INC CL A 961840105 428 100,000 SH DEFINED 1, 2 100,000 WILLIAMS COS INC DEL COM 969457100 209 6,700 CALL SOLE NONE WILLIAMS COS INC DEL COM 969457100 421 13,500 SH SOLE NONE 13,500 WILLIAMS COS INC DEL COM 969457100 1,559 50,000 CALL DEFINED 1, 2 WILLIAMS COS INC DEL COM 969457100 3,118 100,000 SH DEFINED 1, 2 100,000 YAHOO INC COM 984332106 483 29,000 CALL SOLE NONE YAHOO INC COM 984332106 3,680 221,000 CALL DEFINED 1, 2 ZORAN CORP COM 98975F101 205 19,771 SH SOLE NONE 19,771 ZORAN CORP COM 98975F101 1,561 150,229 SH DEFINED 1, 2 150,229
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