SCHEDULE: Susquehanna Group Discloses 5.4% Stake in Sunrun

A group of affiliated entities, including G1 Execution Services and Susquehanna firms, has disclosed a collective 5.4% passive ownership stake in Sunrun Inc., totaling 12,491,987 shares.

Summary

• A group of affiliated entities, including G1 Execution Services, LLC, SIG Brokerage, LP, Susquehanna Fundamental Investments, LLC, Susquehanna Investment Group, Susquehanna Portfolio Strategies, LLC, and Susquehanna Securities, LLC, collectively reported beneficial ownership of 12,491,987 shares of Sunrun Inc. common stock.
• This aggregate ownership represents 5.4% of Sunrun Inc.'s outstanding common stock.
• The beneficial ownership includes options to buy shares: SIG Brokerage, LP holds options for 218,800 shares; Susquehanna Investment Group holds options for 321,800 shares; and Susquehanna Securities, LLC holds options for 10,237,500 shares.
• As of June 30, 2025, Sunrun Inc. had 230,321,000 shares outstanding.
• The reporting persons certified that the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Sunrun Inc.

Sentiment

Score: 6

Explanation: The disclosure of a significant passive stake by a reputable investment group can be viewed as a vote of confidence in Sunrun Inc.'s long-term value, even if the investment is not intended to influence control.

Positives

• A significant institutional group, Susquehanna and its affiliates, has taken a substantial 5.4% passive stake in Sunrun Inc., indicating confidence in the company's long-term prospects.
• The investment is certified as being for ordinary course of business, suggesting a long-term, non-activist position.

Future Outlook

No forward-looking statements or guidance from Sunrun Inc. or the reporting persons are included in this beneficial ownership filing.

Industry Context

Sunrun Inc. operates in the residential solar energy and energy storage industry. The disclosure of a significant passive stake by a major investment group suggests continued institutional interest in the renewable energy sector, despite potential market volatility or policy changes.

Comparison to Industry Standards

• This filing is a standard disclosure of beneficial ownership, not a performance report. Therefore, direct comparisons to industry-specific financial or operational benchmarks are not applicable. The filing itself does not provide data for such comparisons.

Stakeholder Impact

• Shareholders may view the significant passive investment by a group of affiliated entities as a positive signal, potentially bolstering investor confidence in Sunrun Inc.'s stock.

Key Dates

Recommendation

The filing indicates a substantial passive investment by a sophisticated institutional group, which can be interpreted as a positive signal for Sunrun Inc.'s long-term prospects. However, as a Schedule 13G does not provide operational or financial performance details, a "hold" recommendation is appropriate, suggesting that existing investors maintain their positions while new investors might consider the institutional interest as a favorable factor.

Keywords

Sunrun, RUN, Schedule 13G, beneficial ownership, institutional investment, solar energy, renewable energy, Susquehanna