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Billionaire David Einhorn Unloads Almost Entire Sunedison, Inc. (SUNE) Stake

According to a newly amended 13D filing with the US SEC, David Einhorn‘s Greenlight Capital owns 11.31 million shares of Sunedison, Inc. (NYSE:SUNE) which represent 2.8% of the company’s outstanding stock. This is significantly less compared to 27.15 million shares Greenlight Capital held in January, as reported in a previous 13D filing.

Sunedison, Inc. (NYSE:SUNE) is a renewable-energy developer that owns and runs clean power generation assets, manufactures and sales silicon wafers and offers a variety of solar energy services. Unfortunately, over the past 12 months, the company’s shares have dropped by 98.71%. According to recent news, Sunedison is in the serious debt of about $12 billion, and some analysts predict that it could file for bankruptcy. Tesla Motors recently  has hired Sunedison’s expert in grid solutions, Mohammad C. Bozchalui. Needless to say that Mr. Bozchalui was an extremely valuable representative of Sunedison’s energy storage team.

Among the hedge funds tracked by Insider Monkey, David Gallo’s Valinor Management LLC reported the most valuable position in Sunedison, Inc. (NYSE:SUNE), at the end of the fourth quarter of 2015, worth about $113.2 million in stock. Other investors that were bullish on this stock are Phill Gross and Robert Atchinson’s Adage Capital Management, Rishi Bajaj, Toby Symonds, and Steve Tesoriere’s Altai Capital and Anand Parekh’s Alyeska Investment Group.

On the other hand, investors who lost interest in this stock and cut off their stakes, are Karthik Sarma’s SRS Investment Management that has sold off the largest position worth about $89.3 million in stock, and Larry Robbins’s fund, Glenview Capital, dumped around $70.3 million worth of shares.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Greenlight Capital, Inc 0 6,506,504 0 6,506,504 6,506,504 1.6%
DME Advisors 0 1,824,637 0 1,824,637 1,824,637 0.5%
DME Capital Management 0 2,916,269 0 2,916,269 2,916,269 0.7%
DME Advisors GP 0 4,740,906 0 4,740,906 4,740,906 1.2%
David Einhorn 0 11,331,833 0 11,331,833 11,331,833 2.8%

David Einhorn
David Einhorn
Greenlight Capital

Page 1 of 9 – SEC Filing


 

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 

SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2)*

 

SunEdison, Inc.
 (Name of Issuer)
Common Stock, par value $0.01 per share
 (Title of Class of Securities)
86732Y109
(CUSIP Number)

 

Greenlight Capital, Inc.
140 East 45th Street, Floor 24
New York, New York 10017
Telephone: (212) 973-1900
Attention: Chief Operating Officer
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
Copy to:
Steven Gartner, Esq.
Tariq Mundiya, Esq.
Willkie Farr & Gallagher LLP
787 Seventh Avenue
New York, NY 10019−6099
(212) 728−8000

 

April 15, 2016
(Date of Event Which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. 
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See § 240.13d-7 for other parties to whom copies are to be sent.
* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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