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Dynegy Inc. (DYN): Billionaire Andreas Halvorsen’s Viking Global Reports New Stake

In a recent 13G filing with the US Securities and Exchange Commission, billionaire Andreas Halvorsen‘s Viking Capital reported the acquisition of 6.34 million common shares of Dynegy Inc. (NYSE:DYN), which account for 5.4% of the company’s outstanding stock, and represent a new addition to Viking Capital’s equity portfolio.

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Dynegy is an electric utility company that owns and runs coal-fired and natural gas-fired power station across the US. Since the begging of the year, Dynegy’s stock has gained 36.19%. For the first quarter of 2016, the company reported a loss per share of $0.13 beating the estimates of a loss per share of $0.46, and revenue of $1.12 billion beating the estimates of $1.04 billion. Recently, Dynegy announced that it will have to close 3 coal-fired units at two Illinois power plants due to them not being cost-effective anymore.

According to Insider Monkey’s database, 36 hedge funds reported long positions in Dynegy (NYSE:DYN) as of the end of 2015, versus 40 funds a quarter earlier. Howard Marks’ Oaktree Capital Management held the most valuable position, worth around $131.9 million,  followed by Clint Carlson’s  Carlson Capital with a position valued at $125.9 million. Other investors that were bullish on this stock were D. E. Shaw’s D E Shaw, Jonathan Barrett and Paul Segal’s Luminus Management, and Israel Englander’s Millennium Management.

Among the investors who lost interest in  Dynegy (NYSE:DYN) are Eric Edidin and Josh Lobel’s Archer Capital Management, which sold off the biggest position worth about $56.6 million in call options, and Jeffrey Bersh and Michael Wartell’s  Venor Capital Management, which dropped its call options, worth around $41.3 million.

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 6,340,547 0 6,340,547 6,340,547 5.4%
Viking Global Performance 0 4,424,666 0 4,424,666 4,424,666 3.8%
Viking Global Equities 0 1,508,814 0 1,508,814 1,508,814 1.3%
Viking Global Equities II 0 88,492 0 88,492 88,492 0.1%
VGE III Portfolio Ltd 0 2,827,360 0 2,827,360 2,827,360 2.4%
Viking Long Fund GP 0 1,915,881 0 1,915,881 1,915,881 1.6%
Viking Long Fund Master Ltd 0 1,915,881 0 1,915,881 1,915,881 1.6%
O. Andreas Halvorsen 0 6,340,547 0 6,340,547 6,340,547 5.4%
David C. Ott 0 6,340,547 0 6,340,547 6,340,547 5.4%
Daniel S. Sundheim 0 6,340,547 0 6,340,547 6,340,547 5.4%

Andreas Halvorsen
Andreas Halvorsen
Viking Global

Page 1 of 17 – SEC Filing

Washington, D.C. 20549

Schedule 13G


Dynegy Inc.
(Name of Issuer)

Common stock, $0.01 par value per share
(Title of Class of Securities)

(CUSIP Number)

May 3, 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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