Will Poor Earnings Hurt These Suntech Power Institutional Shareholders?

For the year-to-date, Suntech Power Holdings Co. Ltd.’s (NYSE:STP) shares are down 25.34. On May 23, the company reported first quarter earnings and saw a $133 million loss (74 cents per diluted ADS). It had a net income of $31.9 million or (17 cents per ADS) in the year-earlier quarter.

This came in lower than the 48 cents per share loss estimates on a revenue of $408.2 million.

The company’s poor numbers also resulted from challenges in the solar sector. With a production ramp-up in China and a declining European demand, which represents the largest solar market, it created an oversupply of solar panels and pushed prices down.

With challenges facing both the company and the industry, will Suntech Power Holdings’ largest shareholders cut their positions? 167 institutional firms indicated owning shares of Suntech Power Holdings Co. Ltd. (NYSE:STP) in Q1 2012. These firms reported owning a total of 308.404 million shares on 03/31/2012. The shares closed at $3.06 on 03/31/2012.

Here are the ten largest positions in Suntech Power Holdings Co. Ltd. at the end of March 31st, 2012.

Mount Kellett Capital Management LP held 65,674,000 shares on 03/31/2012 worth $51,965,000. This brought the portfolio total to 4.38%.

Driehaus Capital Management LLC held 37,852,000 shares on 03/31/2012 worth $30,013,000. This brought the portfolio total to 1.29%.

Silverback Asset Management LLC held 33,375,000 shares on 03/31/2012 worth $26,533,000. This brought the portfolio total to 1.45%.

Pioneer Investment Management Inc held 26,357,000 shares on 03/31/2012 worth $20,855,000. This brought the portfolio total to 0.09%.

Capital World Investors held 25,000,000 shares on 03/31/2012 worth $19,906,000. This brought the portfolio total to 0.01%.

Susquehanna international group LLP held 22,900,000 shares on 03/31/2012 worth $18,120,000. This brought the portfolio total to 0.01%.

Akanthos Capital Management LLC held 12,500,000 shares on 03/31/2012 worth $9,945,000. This brought the portfolio total to 23.85%.

Oaktree Capital Management LP held 11,885,000 shares on 03/31/2012 worth $9,510,000. This brought the portfolio total to 0.14%.

Crestwood Capital Management L.P. held 7,100,000 shares on 03/31/2012 worth $5,618,000. This brought the portfolio total to 0.88%.

Wolverine Asset Management LLC held 6,951,000 shares on 03/31/2012 worth $5,640,000. This brought the portfolio total to 0.11%.

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