Why did Maple Rock Capital Partners reduce its Sunrun stake?

Maple Rock Capital Partners reduced its Sunrun stake by selling 692,800 shares in the third quarter as a strategic recalibration.

How much is Maple Rock Capital's remaining Sunrun investment?

Maple Rock Capital Partners still holds 7.4 million Sunrun shares, valued at $128.6 million, representing 5.1% of its assets.

Is Sunrun stock performing well?

Yes, Sunrun shares have performed well, up 59% over the past year and significantly outperforming the S&P 500.

Home / Business and Economy / Maple Rock Trims Sunrun Stake

Maple Rock Trims Sunrun Stake

11 Dec

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Summary

Maple Rock reduced Sunrun shares by 692,800 in Q3.
The stake's value decreased by $62.1 million.
Sunrun remains a significant 5.1% of fund's assets.

Maple Rock Capital Partners has adjusted its holdings in Sunrun (NASDAQ:RUN), notably reducing its stake by 692,800 shares during the third quarter. This disposition led to a decrease of about $62.1 million in the position's value. Nevertheless, Sunrun continues to be a significant holding for Maple Rock, comprising 5.1% of its total assets under management, valued at $128.6 million.

The decision to trim Sunrun shares appears to be a strategic recalibration rather than a complete divestment. Sunrun's recent financial performance shows positive trends, including a 35% year-over-year revenue increase to $724.6 million and $108 million in positive cash generation for the sixth consecutive quarter. These improvements, alongside rising subscriber value, suggest a strengthening business model.

Sunrun, a leading U.S. provider of residential solar and battery storage, has experienced a strong stock performance, outperforming the S&P 500 over the past year. The company's focus on direct sales, long-term service contracts, and increasing storage penetration positions it well in the growing renewable energy sector. Maple Rock's continued substantial investment indicates ongoing confidence in Sunrun's future growth and financial recovery.