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[SCHEDULE 13G] Sunrun Inc SEC Filing

Filing Impact
(Low)
Filing Sentiment
(Neutral)
Form Type
SCHEDULE 13G

Multiple Susquehanna-related entities filed a joint Schedule 13G reporting beneficial ownership of 12,491,987 shares of Sunrun Inc. (RUN), representing 5.4% of the outstanding common stock based on 230,321,000 shares outstanding disclosed in the filing. The filing breaks out voting and dispositive power by reporting person, including G1 Execution Services showing 10 sole voting/dispositive power and shared power over the group total, and Susquehanna Securities, LLC reporting 11,407,355 shares of sole voting/dispositive power. The statement notes option positions included in certain totals: SIG Brokerage includes options to buy 218,800 shares, Susquehanna Investment Group includes options to buy 321,800 shares, and Susquehanna Securities includes options to buy 10,237,500 shares. The filers state they are affiliated broker-dealers that may be deemed a group and disclaim ownership of shares held directly by another reporting person, and certify the shares were acquired and are held in the ordinary course of business and not to influence control.

Più entità legate a Susquehanna hanno depositato congiuntamente un Schedule 13G dichiarando la titolarità beneficiaria di 12,491,987 azioni di Sunrun Inc. (RUN), pari al 5.4% del capitale sociale in base alle 230,321,000 azioni in circolazione indicate nel documento. Il deposito dettaglia i poteri di voto e di disposizione per ciascun soggetto segnalante: G1 Execution Services riporta 10 poteri di voto/dispositivi in via esclusiva e poteri condivisi sul totale del gruppo, mentre Susquehanna Securities, LLC dichiara 11,407,355 azioni con poteri di voto/dispositivi esclusivi. La dichiarazione precisa che in alcuni totali sono incluse posizioni in opzioni: SIG Brokerage comprende opzioni per acquistare 218,800 azioni, Susquehanna Investment Group opzioni per 321,800 azioni e Susquehanna Securities opzioni per 10,237,500 azioni. I firmatari dichiarano di essere broker-dealer affiliati che possono essere considerati un gruppo, negano la proprietà delle azioni detenute direttamente da un altro soggetto segnalante e certificano che le azioni sono state acquisite e sono detenute nell'ordinaria attività commerciale e non per influenzare il controllo.

Varias entidades relacionadas con Susquehanna presentaron conjuntamente un Schedule 13G informando la propiedad beneficiaria de 12,491,987 acciones de Sunrun Inc. (RUN), lo que representa el 5.4% del capital social en circulación según las 230,321,000 acciones en circulación señaladas en la presentación. El documento desglosa los poderes de voto y disposición por persona informante: G1 Execution Services reporta 10 poderes de voto/disposición exclusivos y poderes compartidos sobre el total del grupo, y Susquehanna Securities, LLC declara 11,407,355 acciones con poderes de voto/disposición exclusivos. La declaración indica que ciertos totales incluyen posiciones en opciones: SIG Brokerage incluye opciones para comprar 218,800 acciones, Susquehanna Investment Group opciones para comprar 321,800 acciones, y Susquehanna Securities opciones para comprar 10,237,500 acciones. Los firmantes afirman ser brokers-dealers afiliados que pueden ser considerados un grupo, niegan la propiedad de acciones mantenidas directamente por otra persona informante y certifican que las acciones fueron adquiridas y se mantienen en el curso ordinario del negocio y no para influir en el control.

Susquehanna ê´€ë � 여러 법ì¸ì� ê³µë™ìœ¼ë¡œ Schedule 13Gë¥� 제출í•� Sunrun Inc.(RUN)ì� 12,491,987ì£�ì—� 대í•� 실질ì � 소유ë¥� 신고했으ë©�, ì´ëŠ” ì œì¶œì„œì— ê¸°ìž¬ë� 230,321,000ì£�ë¥� 기준으로 보통ì£� ì´ìˆ˜ì� 5.4%ì—� 해당합니ë‹�. 제출서ì—ëŠ� ê°� ì‹ ê³ ìžë³„ ì˜ê²°ê¶� ë°� ì²˜ë¶„ê¶Œì´ êµ¬ë¶„ë˜ì–´ 기재ë˜ì–´ 있으ë©�, G1 Execution ServicesëŠ� ë‹¨ë… ì˜ê²°/처분ê¶� 10ê³� 그룹 ì´ìˆ˜ì—� 대í•� ê³µë™ ê¶Œí•œì� 보고했고, Susquehanna Securities, LLCëŠ� ë‹¨ë… ì˜ê²°/처분ê¶� 11,407,355주를 신고했습니다. ì¼ë¶€ 합계ì—는 옵션 í¬ì§€ì…˜ì´ í¬í•¨ë˜ì–´ 있는ë�, SIG BrokerageëŠ� 218,800ì£� 매수옵션ì�, Susquehanna Investment Groupì€ 321,800ì£� 매수옵션ì�, Susquehanna SecuritiesëŠ� 10,237,500ì£� 매수옵션ì� í¬í•¨í•©ë‹ˆë‹�. 제출ì¸ë“¤ì€ ìžì‹ ë“¤ì´ 계열 브로ì»�-딜러로서 그룹으로 간주ë� ìˆ� 있으ë©�, 다른 ì‹ ê³ ìžê°€ ì§ì ‘ 보유í•� 주ì‹ì—� 대í•� ì†Œìœ ê¶Œì„ ë¶€ì¸í•œë‹¤ê³  ë°ížˆê³�, 해당 주ì‹ì� ì˜ì—…ì� 통ìƒì � 과정ì—서 취듷보유ë˜ì—ˆìœ¼ë©° 지배권 행사 목ì ì� 아님ì� ì¸ì¦í–ˆìŠµë‹ˆë‹¤.

Plusieurs entités liées à Susquehanna ont déposé conjointement un Schedule 13G déclarant la propriété bénéficiaire de 12,491,987 actions de Sunrun Inc. (RUN), soit 5.4% des actions ordinaires en circulation sur la base des 230,321,000 actions indiquées dans le dossier. Le dépôt précise les pouvoirs de vote et de disposition par personne déclarante : G1 Execution Services indique 10 pouvoirs de vote/disposition exclusifs et des pouvoirs partagés sur le total du groupe, tandis que Susquehanna Securities, LLC déclare 11,407,355 actions avec pouvoirs de vote/disposition exclusifs. La déclaration précise que certains totaux incluent des positions d'options : SIG Brokerage comprend des options d'achat de 218,800 actions, Susquehanna Investment Group des options d'achat de 321,800 actions, et Susquehanna Securities des options d'achat de 10,237,500 actions. Les déposants indiquent être des brokers-dealers affiliés susceptibles d'être considérés comme un groupe, démentent la propriété des actions détenues directement par une autre personne déclarante et certifient que les actions ont été acquises et sont détenues dans le cours normal de l'activité et non dans le but d'influencer le contrôle.

Mehrere mit Susquehanna verbundene Einheiten reichten gemeinsam ein Schedule 13G ein und meldeten die wirtschaftliche Eigentümerschaft von 12,491,987 Aktien von Sunrun Inc. (RUN), was auf Basis der im Formular angegebenen 230,321,000 ausstehenden Aktien 5.4% des Stammkapitals entspricht. Die Einreichung differenziert Stimm- und Verfügungsrechte nach meldender Partei: G1 Execution Services weist 10 alleinige Stimm-/Verfügungsrechte sowie gemeinsame Rechte am Gruppenbestand aus, und Susquehanna Securities, LLC meldet 11,407,355 Aktien mit alleinigen Stimm-/Verfügungsrechten. Die Erklärung stellt klar, dass in bestimmten Summen Optionspositionen enthalten sind: SIG Brokerage umfasst Optionen zum Kauf von 218,800 Aktien, Susquehanna Investment Group Optionen zum Kauf von 321,800 Aktien, und Susquehanna Securities Optionen zum Kauf von 10,237,500 Aktien. Die Antragsteller geben an, als verbundene Broker-Dealer möglicherweise als Gruppe zu gelten, weisen die Eigentümerschaft an Aktien, die unmittelbar von einer anderen meldenden Person gehalten werden, zurück und bestätigen, dass die Aktien im normalen Geschäftsverlauf erworben und gehalten werden und nicht zur Beeinflussung der Kontrolle dienen.

Positive
  • Transparent disclosure of a collective 12,491,987-share position (5.4% of the class) by affiliated reporting persons
  • Detailed breakdown of sole and shared voting and dispositive power plus explicit option counts enhances investor clarity
Negative
  • None.

Insights

TL;DR: A 5.4% disclosed stake by Susquehanna affiliates is material enough for market notice; option exposure is concentrated in one filing entity.

The filing reports a collective 12,491,987 share position (5.4% of the class) across affiliated broker-dealers, with a substantial portion of option exposure disclosed under Susquehanna Securities, LLC (10,237,500 options). That concentration of option-based positions can affect reported beneficial ownership depending on exercise and settlement, and the detailed allocation of sole versus shared voting and dispositive power helps clarify which entities hold direct control versus group-level influence. The filing also includes explicit disclaimers that each reporting person disclaims beneficial ownership of shares held directly by other reporting persons and a certification that the holdings are in the ordinary course of business.

TL;DR: Joint Schedule 13G shows transparent group reporting and formal disclaimers; no expressed intent to change or influence issuer control.

The joint filing identifies six affiliated reporting persons and provides per-entity voting and dispositive power figures, aiding governance transparency. The joint filing agreement and repeated disclaimers reduce ambiguity about overlapping ownership claims among affiliated broker-dealers. Importantly, the filers certify the holdings are not held to influence control, consistent with passive Schedule 13G reporting, which limits immediate governance implications absent further disclosure or action.

Più entità legate a Susquehanna hanno depositato congiuntamente un Schedule 13G dichiarando la titolarità beneficiaria di 12,491,987 azioni di Sunrun Inc. (RUN), pari al 5.4% del capitale sociale in base alle 230,321,000 azioni in circolazione indicate nel documento. Il deposito dettaglia i poteri di voto e di disposizione per ciascun soggetto segnalante: G1 Execution Services riporta 10 poteri di voto/dispositivi in via esclusiva e poteri condivisi sul totale del gruppo, mentre Susquehanna Securities, LLC dichiara 11,407,355 azioni con poteri di voto/dispositivi esclusivi. La dichiarazione precisa che in alcuni totali sono incluse posizioni in opzioni: SIG Brokerage comprende opzioni per acquistare 218,800 azioni, Susquehanna Investment Group opzioni per 321,800 azioni e Susquehanna Securities opzioni per 10,237,500 azioni. I firmatari dichiarano di essere broker-dealer affiliati che possono essere considerati un gruppo, negano la proprietà delle azioni detenute direttamente da un altro soggetto segnalante e certificano che le azioni sono state acquisite e sono detenute nell'ordinaria attività commerciale e non per influenzare il controllo.

Varias entidades relacionadas con Susquehanna presentaron conjuntamente un Schedule 13G informando la propiedad beneficiaria de 12,491,987 acciones de Sunrun Inc. (RUN), lo que representa el 5.4% del capital social en circulación según las 230,321,000 acciones en circulación señaladas en la presentación. El documento desglosa los poderes de voto y disposición por persona informante: G1 Execution Services reporta 10 poderes de voto/disposición exclusivos y poderes compartidos sobre el total del grupo, y Susquehanna Securities, LLC declara 11,407,355 acciones con poderes de voto/disposición exclusivos. La declaración indica que ciertos totales incluyen posiciones en opciones: SIG Brokerage incluye opciones para comprar 218,800 acciones, Susquehanna Investment Group opciones para comprar 321,800 acciones, y Susquehanna Securities opciones para comprar 10,237,500 acciones. Los firmantes afirman ser brokers-dealers afiliados que pueden ser considerados un grupo, niegan la propiedad de acciones mantenidas directamente por otra persona informante y certifican que las acciones fueron adquiridas y se mantienen en el curso ordinario del negocio y no para influir en el control.

Susquehanna ê´€ë � 여러 법ì¸ì� ê³µë™ìœ¼ë¡œ Schedule 13Gë¥� 제출í•� Sunrun Inc.(RUN)ì� 12,491,987ì£�ì—� 대í•� 실질ì � 소유ë¥� 신고했으ë©�, ì´ëŠ” ì œì¶œì„œì— ê¸°ìž¬ë� 230,321,000ì£�ë¥� 기준으로 보통ì£� ì´ìˆ˜ì� 5.4%ì—� 해당합니ë‹�. 제출서ì—ëŠ� ê°� ì‹ ê³ ìžë³„ ì˜ê²°ê¶� ë°� ì²˜ë¶„ê¶Œì´ êµ¬ë¶„ë˜ì–´ 기재ë˜ì–´ 있으ë©�, G1 Execution ServicesëŠ� ë‹¨ë… ì˜ê²°/처분ê¶� 10ê³� 그룹 ì´ìˆ˜ì—� 대í•� ê³µë™ ê¶Œí•œì� 보고했고, Susquehanna Securities, LLCëŠ� ë‹¨ë… ì˜ê²°/처분ê¶� 11,407,355주를 신고했습니다. ì¼ë¶€ 합계ì—는 옵션 í¬ì§€ì…˜ì´ í¬í•¨ë˜ì–´ 있는ë�, SIG BrokerageëŠ� 218,800ì£� 매수옵션ì�, Susquehanna Investment Groupì€ 321,800ì£� 매수옵션ì�, Susquehanna SecuritiesëŠ� 10,237,500ì£� 매수옵션ì� í¬í•¨í•©ë‹ˆë‹�. 제출ì¸ë“¤ì€ ìžì‹ ë“¤ì´ 계열 브로ì»�-딜러로서 그룹으로 간주ë� ìˆ� 있으ë©�, 다른 ì‹ ê³ ìžê°€ ì§ì ‘ 보유í•� 주ì‹ì—� 대í•� ì†Œìœ ê¶Œì„ ë¶€ì¸í•œë‹¤ê³  ë°ížˆê³�, 해당 주ì‹ì� ì˜ì—…ì� 통ìƒì � 과정ì—서 취듷보유ë˜ì—ˆìœ¼ë©° 지배권 행사 목ì ì� 아님ì� ì¸ì¦í–ˆìŠµë‹ˆë‹¤.

Plusieurs entités liées à Susquehanna ont déposé conjointement un Schedule 13G déclarant la propriété bénéficiaire de 12,491,987 actions de Sunrun Inc. (RUN), soit 5.4% des actions ordinaires en circulation sur la base des 230,321,000 actions indiquées dans le dossier. Le dépôt précise les pouvoirs de vote et de disposition par personne déclarante : G1 Execution Services indique 10 pouvoirs de vote/disposition exclusifs et des pouvoirs partagés sur le total du groupe, tandis que Susquehanna Securities, LLC déclare 11,407,355 actions avec pouvoirs de vote/disposition exclusifs. La déclaration précise que certains totaux incluent des positions d'options : SIG Brokerage comprend des options d'achat de 218,800 actions, Susquehanna Investment Group des options d'achat de 321,800 actions, et Susquehanna Securities des options d'achat de 10,237,500 actions. Les déposants indiquent être des brokers-dealers affiliés susceptibles d'être considérés comme un groupe, démentent la propriété des actions détenues directement par une autre personne déclarante et certifient que les actions ont été acquises et sont détenues dans le cours normal de l'activité et non dans le but d'influencer le contrôle.

Mehrere mit Susquehanna verbundene Einheiten reichten gemeinsam ein Schedule 13G ein und meldeten die wirtschaftliche Eigentümerschaft von 12,491,987 Aktien von Sunrun Inc. (RUN), was auf Basis der im Formular angegebenen 230,321,000 ausstehenden Aktien 5.4% des Stammkapitals entspricht. Die Einreichung differenziert Stimm- und Verfügungsrechte nach meldender Partei: G1 Execution Services weist 10 alleinige Stimm-/Verfügungsrechte sowie gemeinsame Rechte am Gruppenbestand aus, und Susquehanna Securities, LLC meldet 11,407,355 Aktien mit alleinigen Stimm-/Verfügungsrechten. Die Erklärung stellt klar, dass in bestimmten Summen Optionspositionen enthalten sind: SIG Brokerage umfasst Optionen zum Kauf von 218,800 Aktien, Susquehanna Investment Group Optionen zum Kauf von 321,800 Aktien, und Susquehanna Securities Optionen zum Kauf von 10,237,500 Aktien. Die Antragsteller geben an, als verbundene Broker-Dealer möglicherweise als Gruppe zu gelten, weisen die Eigentümerschaft an Aktien, die unmittelbar von einer anderen meldenden Person gehalten werden, zurück und bestätigen, dass die Aktien im normalen Geschäftsverlauf erworben und gehalten werden und nicht zur Beeinflussung der Kontrolle dienen.






Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)






SCHEDULE 13G




Comment for Type of Reporting Person: With respect to Row 5 through Row 9 above, G1 Execution Services, LLC, SIG Brokerage, LP, Susquehanna Investment Group and Susquehanna Securities, LLC are affiliated independent broker-dealers which, together with Susquehanna Fundamental Investments, LLC and Susquehanna Portfolio Strategies, LLC, may be deemed a group. For purposes of this report, we have indicated that each reporting person has sole voting and dispositive power with respect to the shares beneficially owned by it and that the reporting persons have shared voting and dispositive power with respect to all shares beneficially owned by all of the reporting persons. Each of the reporting persons disclaims beneficial ownership of shares owned directly by another reporting person.


SCHEDULE 13G




Comment for Type of Reporting Person: With respect to Row 5 through Row 9 above, G1 Execution Services, LLC, SIG Brokerage, LP, Susquehanna Investment Group and Susquehanna Securities, LLC are affiliated independent broker-dealers which, together with Susquehanna Fundamental Investments, LLC and Susquehanna Portfolio Strategies, LLC, may be deemed a group. For purposes of this report, we have indicated that each reporting person has sole voting and dispositive power with respect to the shares beneficially owned by it and that the reporting persons have shared voting and dispositive power with respect to all shares beneficially owned by all of the reporting persons. Each of the reporting persons disclaims beneficial ownership of shares owned directly by another reporting person.


SCHEDULE 13G




Comment for Type of Reporting Person: With respect to Row 5 through Row 9 above, G1 Execution Services, LLC, SIG Brokerage, LP, Susquehanna Investment Group and Susquehanna Securities, LLC are affiliated independent broker-dealers which, together with Susquehanna Fundamental Investments, LLC and Susquehanna Portfolio Strategies, LLC, may be deemed a group. For purposes of this report, we have indicated that each reporting person has sole voting and dispositive power with respect to the shares beneficially owned by it and that the reporting persons have shared voting and dispositive power with respect to all shares beneficially owned by all of the reporting persons. Each of the reporting persons disclaims beneficial ownership of shares owned directly by another reporting person.


SCHEDULE 13G




Comment for Type of Reporting Person: With respect to Row 5 through Row 9 above, G1 Execution Services, LLC, SIG Brokerage, LP, Susquehanna Investment Group and Susquehanna Securities, LLC are affiliated independent broker-dealers which, together with Susquehanna Fundamental Investments, LLC and Susquehanna Portfolio Strategies, LLC, may be deemed a group. For purposes of this report, we have indicated that each reporting person has sole voting and dispositive power with respect to the shares beneficially owned by it and that the reporting persons have shared voting and dispositive power with respect to all shares beneficially owned by all of the reporting persons. Each of the reporting persons disclaims beneficial ownership of shares owned directly by another reporting person.


SCHEDULE 13G




Comment for Type of Reporting Person: With respect to Row 5 through Row 9 above, G1 Execution Services, LLC, SIG Brokerage, LP, Susquehanna Investment Group and Susquehanna Securities, LLC are affiliated independent broker-dealers which, together with Susquehanna Fundamental Investments, LLC and Susquehanna Portfolio Strategies, LLC, may be deemed a group. For purposes of this report, we have indicated that each reporting person has sole voting and dispositive power with respect to the shares beneficially owned by it and that the reporting persons have shared voting and dispositive power with respect to all shares beneficially owned by all of the reporting persons. Each of the reporting persons disclaims beneficial ownership of shares owned directly by another reporting person.


SCHEDULE 13G




Comment for Type of Reporting Person: With respect to Row 5 through Row 9 above, G1 Execution Services, LLC, SIG Brokerage, LP, Susquehanna Investment Group and Susquehanna Securities, LLC are affiliated independent broker-dealers which, together with Susquehanna Fundamental Investments, LLC and Susquehanna Portfolio Strategies, LLC, may be deemed a group. For purposes of this report, we have indicated that each reporting person has sole voting and dispositive power with respect to the shares beneficially owned by it and that the reporting persons have shared voting and dispositive power with respect to all shares beneficially owned by all of the reporting persons. Each of the reporting persons disclaims beneficial ownership of shares owned directly by another reporting person.


SCHEDULE 13G



G1 Execution Services, LLC
Signature:/s/ Brian Sopinsky
Name/Title:Brian Sopinsky, Secretary
Date:08/13/2025
SIG Brokerage, LP
Signature:/s/ Brian Sopinsky
Name/Title:Brian Sopinsky, Assistant Secretary
Date:08/13/2025
Susquehanna Fundamental Investments, LLC
Signature:/s/ Brian Sopinsky
Name/Title:Brian Sopinsky, Assistant Secretary
Date:08/13/2025
Susquehanna Investment Group
Signature:/s/ Brian Sopinsky
Name/Title:Brian Sopinsky, General Counsel
Date:08/13/2025
Susquehanna Portfolio Strategies, LLC
Signature:/s/ Brian Sopinsky
Name/Title:Brian Sopinsky, Assistant Secretary
Date:08/13/2025
Susquehanna Securities, LLC
Signature:/s/ Brian Sopinsky
Name/Title:Brian Sopinsky, Secretary
Date:08/13/2025
Exhibit Information

EXHIBIT INDEX EXHIBIT DESCRIPTION ________ ________ 99 Joint Filing Agreement

FAQ

What stake did Susquehanna-related reporting persons disclose in Sunrun (RUN)?

They disclosed beneficial ownership of 12,491,987 shares, representing 5.4% of the common stock.

How many Sunrun shares outstanding does the filing reference for RUN?

The filing references 230,321,000 shares outstanding for the calculation of the percentage ownership.

Do the filings include options in their reported holdings for RUN?

Yes; the filing states SIG Brokerage includes options to buy 218,800 shares, Susquehanna Investment Group includes options to buy 321,800, and Susquehanna Securities includes options to buy 10,237,500 shares.

Which reporting person holds the largest sole voting/dispositive power in the RUN filing?

Susquehanna Securities, LLC reports sole voting and dispositive power for 11,407,355 shares.

Do the reporting persons claim the holdings are intended to influence Sunrun's control?

No; the filers certify the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control.
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