This $9 Million Solar Bet Lands Amid an 82% Stock Surge and $3 Billion Revenue Year
Key Points
PlusTick Management acquired 500,000 shares of Sunrun in the fourth quarter.
The quarter-end value of the new Sunrun position increased by $9.20 million, reflecting the new purchase.
The new Sunrun stake represents 4% of PlusTick Management LLC's 13F assets, placing it outside the fund's top five holdings.
- 10 stocks we like better than Sunrun ›
PlusTick Management opened a new position in Sunrun (NASDAQ:RUN) during the fourth quarter, acquiring 500,000 shares worth $9.20 million, according to a February 17, 2026, SEC filing.
What happened
According to a filing with the Securities and Exchange Commission dated February 17, 2026, PlusTick Management initiated a new position in Sunrun by purchasing 500,000 shares. The quarter-end value of the stake increased by $9.20 million, which incorporates both the purchase and any price movement in the period.
What else to know
- This was a new position for PlusTick Management; the stake accounted for 4.07% of the fund's reportable assets as of December 31, 2025.
- Top holdings after the filing:
- NASDAQ: SATS: $39,675,500 (17.6% of AUM)
- NASDAQ: NN: $34,375,212 (15.2% of AUM)
- NASDAQ: APLD: $24,520,000 (10.8% of AUM)
- NASDAQ: INOD: $16,813,500 (7.4% of AUM)
- NASDAQ: NBIS: $11,300,175 (5.0% of AUM)
- As of Friday, Sunrun shares were priced at $12.22, up 82% over the past year and well outperforming the S&P 500’s roughly 15% gain in the same period.
Company overview
| Metric | Value |
|---|---|
| Price (as of Friday) | $12.22 |
| Market Capitalization | $2.9 billion |
| Revenue (TTM) | $3 billion |
| Net Income (TTM) | ($449.9 million) |
Company snapshot
- Sunrun offers residential solar energy systems, battery storage, and related products, with revenue generated from system sales, installations, and ongoing maintenance services.
- The firm operates a direct-to-consumer business model, utilizing multiple sales channels including online, retail, field marketing, and partnerships to acquire and serve customers.
- It targets residential homeowners in the United States as its primary customer base.
Sunrun delivers residential solar and battery storage solutions to U.S. homeowners through a direct-to-consumer model. Sunrun is a leading provider of residential solar and battery storage solutions in the United States, leveraging a large-scale direct sales network and diversified product offerings. The company’s strategy centers on expanding the adoption of distributed solar energy by providing end-to-end solutions, from system design through installation and maintenance. Sunrun’s integrated approach and strong brand presence position it as a key player in the transition to renewable energy for U.S. households.
What this transaction means for investors
Sunrun delivered nearly $3 billion in revenue in 2025 and generated positive cash flow that it expects to continue this year. That is a meaningful pivot for a business that, not long ago, was defined by capital intensity and skepticism around profitability. At the same time, however, key metrics like subscriber growth and value creation have softened, suggesting the next phase will require tighter execution rather than just expansion. And that’s starting to reflect in the firm’s performance this year, with shares down 34% after this latest bout of earnings was released.
Within this portfolio, the position sits alongside smaller-cap, growth-oriented names, reinforcing the idea that this is a high-conviction but still opportunistic bet. It’s not the largest holding, but it is big enough to matter. Ultimately, it seems like Sunrun is starting to look like a scaled platform with real cash generation, which changes how investors should think about it.
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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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