Large NRG (NYSE: NRG) stake held via LS Power entities
Rhea-AI Filing Summary
NRG Energy filed an initial ownership report for investor David Nanus showing significant indirect holdings in its common stock. The filing lists 20,950,000 shares of NRG common stock indirectly held through LS Power-related entities and 3,300,000 shares held indirectly by a voting trust.
Entities including Lightning Power Holdings, Thunder Generation, and CCS Power Holdings hold shares for LS Power funds advised by LS Power Equity Advisors, where Nanus serves as President. Through these roles he may be deemed to share voting and investment power over these shares but expressly disclaims beneficial ownership.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Nanus David
Role
10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 20,950,000 shares (Indirect, See footnote);
Common Stock — 3,300,000 shares (Indirect, By trust)
Footnotes (3)
- F1. 16,436,270, 3,473,534 and 1,040,196 shares of Common Stock of NRG Energy, Inc. (the Issuer) are held directly by Lightning Power Holdings, LLC, a Delaware limited liability company (Lightning); Thunder Generation LLC, a Delaware limited liability company (Thunder); and CCS Power Holdings, LLC, a Delaware limited liability company (CCS and together with Thunder, the Sellers), respectively. The investment advisor of LS Power Equity Partners III, L.P., a Delaware limited partnership (LSPEP III), who may be deemed to beneficially own the securities held by Lightning is LS Power Equity Advisors, LLC, a Delaware limited liability company (LSP Advisors). The investment advisor of LS Power Equity Partners IV, L.P., a Delaware limited partnership (LSPEP IV and together with Lightning, the Sellers, LSPEP III, and LSP Advisors, the LSP Entities), who may be deemed to beneficially own the securities held by the Sellers is LSP Advisors. The reporting person is the President of LSP Advisors.
- F2. The Issuer and Lightning and the Sellers entered into an Amended and Restated Voting Trust Agreement with Wilmington Savings Fund Society, FSB (the Trustee), pursuant to which Lightning and the Sellers deposited 2,589,007 and 710,993 shares of Common Stock, respectively, in the Project Hurricane Consideration Voting Trust 2026 (the Trust) and granted to the Trustee, subject to certain exceptions, voting rights with respect to such shares.
- F3. The reporting person, through his position, relationship and/or affiliation with the LS Power Entities, may have shared voting and investment power with respect to the shares beneficially owned by the LS Power Entities. As such, the reporting person may be deemed to have or share beneficial ownership of the shares beneficially owned by the LS Power Entities. The reporting person disclaims beneficial ownership of such shares.
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FAQ
What does the NRG (NRG) Form 3 for David Nanus disclose?
The Form 3 shows David Nanus as a 10% owner with indirect holdings of NRG common stock. It reports 20,950,000 shares held via LS Power-related entities and 3,300,000 shares held through a voting trust structure tied to Project Hurricane Consideration Voting Trust 2026.
What role do LS Power entities play in David Nanus’s reported NRG ownership?
LS Power Equity Partners III and IV investment funds, through entities like Lightning Power Holdings and Thunder Generation, directly hold NRG shares. LS Power Equity Advisors acts as investment adviser, and Nanus, as its President, may be deemed to share voting and investment power over these holdings.