Calpine Corp (CPN): Billionaire Andreas Halvorsen’s Viking Global Significantly Increases Its Stake

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Billionaire Andreas Halvorsen‘s Viking Global currently owns 20.54 million shares of Calpine Corp (NYSE:CPN), which amass 5.7% of the company’s outstanding stock, according to a recent 13G filing with the SEC. This represents the acquisition of some 10 million shares, as the fund previously disclosed owning 10.5 million shares in its latest 13F filing, for the end of March.

Calpine Corporation is a company engaged in electricity generation through geothermal and natural gas-fired power plants owned and operated in North America. The company’s shares have dropped by 18.6% over the past 12 months. In its latest quarterly financial report for the first quarter of 2016, Calpine Corporation reported a loss per share of $0.56 and revenue of $1.62 billion, which compares to a loss per share of $0.03 and revenue of $1.65 billion for the first quarter of 2015. Recently, BMO Capital Markets reiterated its ‘Buy’ rating on Calpine Corporation’s stock.
Andreas Halvorsen

The number of hedge funds in our system bullish on Calpine Corporation (NYSE:CPN) decreased by five during the first quarter, with there being 36 investors long the stock. Among them, the biggest position was held by Viking Global, being valued at $159.2 million, while the second-most valuable position was reported by Legg Mason Capital Management, a part of ClearBridge, and was worth around $151.7 million. Some other smart money investors with similar bullishness on the stock contain Clint Carlson’s Carlson Capital, Steven Tananbaum’s GoldenTree Asset Management, and Jim Simons’ Renaissance Technologies.

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On the other hand, hedge funds who dumped Calpine Corporation (NYSE:CPN) during the quarter include Siddharth Thacker’s Signpost Capital, which dropped the largest position of the funds that we track, worth close to $113 million in stock, and Charles Clough’s Clough Capital Partners, which sold off about $32.2 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
Viking Global Investors 0 20,540,332 0 20,540,332 20,540,332 5.7%
Viking Global Performance 0 14,650,736 0 14,650,736 14,650,736 4.1%
Viking Global Equities 0 4,995,901 0 4,995,901 4,995,901 1.4%
Viking Global Equities II 0 293,017 0 293,017 293,017 0.1%
VGE III Portfolio Ltd 0 9,361,818 0 9,361,818 9,361,818 2.6%
Viking Long Fund GP 0 5,889,596 0 5,889,596 5,889,596 1.6%
Viking Long Fund Master Ltd 0 5,889,596 0 5,889,596 5,889,596 1.6%
O. Andreas Halvorsen 0 20,540,332 0 20,540,332 20,540,332 5.7%
David C. Ott 0 20,540,332 0 20,540,332 20,540,332 5.7%
Daniel S. Sundheim 0 20,540,332 0 20,540,332 20,540,332 5.7%

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Page 1 of 18 – SEC Filing

Washington, D.C. 20549

Schedule 13G


Calpine Corporation
(Name of Issuer)

Common stock, par value $0.001
(Title of Class of Securities)

(CUSIP Number)

June 23, 2016
(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)


* 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 the disclosures provided in a prior cover page.

The information required in 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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