UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, DC 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
Calpine Corporation
| (Name of Issuer) |
Common Stock, par value $0.001 |
| (Title of Class of Securities) |
|
131347304 |
| (CUSIP Number) |
|
|
| November 30, 2016 |
| (Date of Event Which Requires Filing of this Statement) |
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
x Rule 13d-1(b)
o Rule 13d-1(c)
o Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
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CUSIP No. 131347304
|
SCHEDULE 13G
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Page 2
of 10 Pages
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1
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NAME OF REPORTING PERSONS
SailingStone Capital Partners LLC
|
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2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) o
(b) o
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||
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3
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SEC USE ONLY
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|||
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4
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CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware, USA
|
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NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
|
5
|
SOLE VOTING POWER
36,884,520
|
||
|
6
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SHARED VOTING POWER
0
|
|||
|
7
|
SOLE DISPOSITIVE POWER
36,884,520
|
|||
|
8
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SHARED DISPOSITIVE POWER
0
|
|||
|
9
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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|||
|
10
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)
|
o
|
||
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11
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
10.3%
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12
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TYPE OF REPORTING PERSON (See Instructions)
IA
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CUSIP No. 131347304
|
SCHEDULE 13G
|
Page 3
of 10 Pages
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1
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NAME OF REPORTING PERSONS
SailingStone Holdings LLC
|
|||
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) o
(b) o
|
|
||
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3
|
SEC USE ONLY
|
|||
|
4
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CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware, USA
|
|||
|
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
|
5
|
SOLE VOTING POWER
0
|
||
|
6
|
SHARED VOTING POWER
36,884,520
|
|||
|
7
|
SOLE DISPOSITIVE POWER
0
|
|||
|
8
|
SHARED DISPOSITIVE POWER
36,884,520
|
|||
|
9
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|||
|
10
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)
|
o
|
||
|
11
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
10.3%
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|||
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12
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TYPE OF REPORTING PERSON (See Instructions)
HC, CO
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CUSIP No. 131347304
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SCHEDULE 13G
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Page 4
of 10 Pages
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1
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NAME OF REPORTING PERSONS
MacKenzie B. Davis
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) o
(b) o
|
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||
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3
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SEC USE ONLY
|
|||
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4
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CITIZENSHIP OR PLACE OF ORGANIZATION
United States
|
|||
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NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
|
5
|
SOLE VOTING POWER
0
|
||
|
6
|
SHARED VOTING POWER
36,884,520
|
|||
|
7
|
SOLE DISPOSITIVE POWER
0
|
|||
|
8
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SHARED DISPOSITIVE POWER
36,884,520
|
|||
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9
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|||
|
10
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CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)
|
o
|
||
|
11
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
10.3%
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|||
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12
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TYPE OF REPORTING PERSON (See Instructions)
HC, IN
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CUSIP No. 131347304
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SCHEDULE 13G
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Page 5
of 10 Pages
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1
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NAME OF REPORTING PERSONS
Kenneth L. Settles Jr.
|
|||
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) o
(b) o
|
|
||
|
3
|
SEC USE ONLY
|
|||
|
4
|
CITIZENSHIP OR PLACE OF ORGANIZATION
United States
|
|||
|
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
|
5
|
SOLE VOTING POWER
0
|
||
|
6
|
SHARED VOTING POWER
36,884,520
|
|||
|
7
|
SOLE DISPOSITIVE POWER
0
|
|||
|
8
|
SHARED DISPOSITIVE POWER
36,884,520
|
|||
|
9
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|||
|
10
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)
|
o
|
||
|
11
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
10.3%
|
|||
|
12
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TYPE OF REPORTING PERSON (See Instructions)
HC, IN
|
|||
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CUSIP
No. 131347304
|
SCHEDULE 13G
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Page 6
of 10 Pages
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| Item 1. | (a) Name of Issuer |
Calpine Corporation (the “Company”)
| (b) Address of Issuer’s Principal Executive Offices |
717 Texas Avenue, Suite 1000, Houston, Texas 77002
| Item 2. | (a) Name of Person Filing |
| (b) Address of Principal Business Office, or, if none, Residence |
| (c) Citizenship |
SailingStone Capital Partners LLC (“SailingStone”)
One California Street, 30th Floor
San Francisco, CA 94111
Delaware
SailingStone Holdings LLC (“SailingStone Holdings”)
One California Street, 30th Floor
San Francisco, CA 94111
Delaware
MacKenzie B. Davis (“Davis”)
One California Street, 30th Floor
San Francisco, CA 94111
United States
Kenneth L. Settles Jr. (“Settles”)
One California Street, 30th Floor
San Francisco, CA 94111
United States
| (d) Title of Class of Securities |
Common Stock, par value $0.001 (the "Common Stock")
| (e) CUSIP No.: |
131347304
|
CUSIP No. 131347304
|
SCHEDULE 13G
|
Page 7
of 10 Pages
|
Item 3. If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: |
| (a) | ¨ | Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o); | |
| (b) | ¨ | Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); | |
| (c) | ¨ | Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c); | |
| (d) | o | Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); | |
| (e) | x | An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E); | |
| (f) | ¨ | An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F); | |
| (g) | x | A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G); | |
| (h) | ¨ | A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); | |
| (i) | ¨ | A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); | |
| (j) | ¨ | A non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J); | |
| (k) | ¨ | A group, in accordance with §240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J), please specify the type of institution: | |
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CUSIP
No. 131347304
|
SCHEDULE 13G
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Page
8 of 10 Pages
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Item 4. Ownership
Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.
SailingStone
(a) Amount beneficially owned: 36,884,520
(b) Percent of class: 10.3%
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote: 36,884,520
(ii) Shared power to vote or to direct the vote: 0
(iii) Sole power to dispose or to direct the disposition of: 36,884,520
(iv) Shared power to dispose or to direct the disposition of: 0
SailingStone Holdings, Davis and Settles
(a) Amount beneficially owned: 36,884,520
(b) Percent of class: 10.3%
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote: 0
(ii) Shared power to vote or to direct the vote: 36,884,520
(iii) Sole power to dispose or to direct the disposition of: 0
(iv) Shared power to dispose or to direct the disposition of: 36,884,520
Item 5. Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following [ ].
Item 6. Ownership of More Than Five Percent on Behalf of Another Person
Not Applicable
Item 7. Identification and Classification of the Subsidiary which Acquired the Security Being Reported on by the Parent Holding Company or Control Person
Not Applicable
Item 8. Identification and Classification of Members of the Group
Not Applicable
Item 9. Notice of Dissolution of Group
Not Applicable
Item 10. Certification
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
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CUSIP No. 131347304
|
SCHEDULE 13G
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Page 9
of 10 Pages
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Date: December 12, 2016
| SailingStone Capital Partners LLC | |||
| By: | /s/ Kathlyne Kiaie | ||
| Name: | Kathlyne Kiaie | ||
| Title: | Chief Compliance Officer | ||
| SailingStone Holdings LLC | |||
| By: | /s/ MacKenzie B. Davis | ||
| Name: | MacKenzie B. Davis | ||
| Title: | Managing Member | ||
| MacKenzie B. Davis | |||
| By: | /s/ MacKenzie B. Davis | ||
| Name: | MacKenzie B. Davis | ||
| Kenneth L. Settles Jr. | |||
| By: | /s/ Kenneth L. Settles Jr. | ||
| Name: | Kenneth L. Settles Jr. | ||
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CUSIP No. 131347304
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SCHEDULE 13G
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Page 10
of 10 Pages
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Exhibit 1
WHEREAS, in accordance with Rule 13d-1(k)(1) under the Securities and Exchange Act of 1934 (the "Act"), only one joint Statement and any amendments thereto need to be filed whenever one or more persons are required to file such a Statement or any amendments thereto pursuant to Section 13(d) of the Act with respect to the same securities, provided that said persons agree in writing that such Statement or amendments thereto is filed on behalf of each of them;
NOW, THEREFORE, the parties hereto agree as follows: SailingStone Capital Partners LLC, SailingStone Holdings LLC, MacKenzie B. Davis, and Kenneth L. Settles Jr., do hereby agree, in accordance with Rule 13d-1(k)(1) under the Act, to file a Statement on Schedule 13G relating to their ownership of the Common Stock of the Issuer, and do hereby further agree that said Statement on Schedule 13G shall be filed on behalf of each of them.
Date: December 12, 2016
| SailingStone Capital Partners LLC | |||
| By: | /s/ Kathlyne Kiaie | ||
| Name: | Kathlyne Kiaie | ||
| Title: | Chief Compliance Officer | ||
| SailingStone Holdings LLC | |||
| By: | /s/ MacKenzie B. Davis | ||
| Name: | MacKenzie B. Davis | ||
| Title: | Managing Member | ||
| MacKenzie B. Davis | |||
| By: | /s/ MacKenzie B. Davis | ||
| Name: | MacKenzie B. Davis | ||
| Kenneth L. Settles Jr. | |||
| By: | /s/ Kenneth L. Settles Jr. | ||
| Name: | Kenneth L. Settles Jr. | ||