San Jose, Calif., solar PV panel maker SunPower filed a 13G and it appears that Fidelity Investments and the firm’s Chairman, Edward Johnson III, control 5,068,929 company shares or 12.059% of SunPower’s Class B Common Stocks.
The SunPower Class B shares are actually controlled by a special purpose company controlled by Fidelity Investments’s parent company FMR LLC.
The 13G filing states:
Edward C. Johnson 3d and FMR LLC, through its control of Fidelity, and the funds each has sole power to dispose of the 5,068,929 shares owned by the Funds.
It’s not clear if Mr. Johnson and his family directly control the SunPower shares or Fidelity via its family of funds do. We’ve got calls out to SunPower and Fidelity requesting clarification – see here for the full filing.
Last week SunPower scored a major contract to supply PV panels for a Southern California Edison project that’s expected to cost $875 million to develop.