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.
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%|
Page 1 of 17 – SEC Filing
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INFORMATION TO BE INCLUDED IN STATEMENTS PURSUANT TO RULES 13d-1(b),(c)
AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2
UNDER THE SECURITIES EXCHANGE ACT OF 1934*
(Name of Issuer)
Common stock, $0.01 par value per share
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May 3, 2016
(Date of Event Which Requires Filing of this Statement)
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