Mason Hawkins‘ Southeastern Asset Management has slashed its Chesapeake Energy Corporation (NYSE:CHK) position by about 8.00 million shares since March 31 according to a recent 13G filing with the SEC. The fund reported aggregate beneficial ownership of 53.94 million shares in the latest filing, including 25.30 million shares underlying convertible preferred stock, and 2.42 million shares underlying convertible bonds. That aggregate position was down from the 61.93-million share stake that the fund reported holding at the end of March. The energy company’s shares are down by 4.4% year-to-date and by 40% since April 27.
Heading into the second quarter of 2016, a total of 31 of the hedge funds tracked by Insider Monkey were long this stock, a 3% decline from the end of 2015. Carl Icahn’s Icahn Capital LP had the biggest position in Chesapeake Energy Corporation (NYSE:CHK) on March 31, worth close to $301 million, while Robert Pitts of Steadfast Capital Management was next with a $34.2 million position. Some other Chesapeake investors in our database included D E Shaw, John Griffin’s Blue Ridge Capital, and Sander Gerber’s Hudson Bay Capital Management. Mr. Hawkins’ position was valued at over $255 million on March 31.
You can access the original SEC filing by clicking here.
Ownership Summary Table
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| Southeastern Asset Management, Inc. | 12,561,111 | 13,907,710 | 12,561,111 | 7.6% | ||
| Longleaf Partners Fund | 12,561,111 | 1.8% | ||||
| O. Mason Hawkins | 0.0% |
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Page 1 of 2 – SEC Filing
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 4)*
Chesapeake Energy Corporation
________________________________________________________
(Name of Issuer)
Common Stock
_______________________________________________________
(Title of Class and Securities)
165167107
_______________________________________________________
(CUSIP Number of Class of Securities)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
/X/ Rule 13d-1(b)
/ / Rule 13d-1(c)
/ / 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 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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Page 2 of 2 – SEC Filing
_____________________________________________________________________________
(1) NAMES OF REPORTING PERSONS
Southeastern Asset Management, Inc. I.D. No. 62-0951781
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a)
(b) X
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Tennessee
_____________________________________________________________________________
: (5) SOLE VOTING POWER
: (Discretionary Accounts)
NUMBER OF SHARES BENEFICIALLY : 35,501,011 shares
OWNED BY EACH REPORTING PERSON __________________________________________
WITH : (6) SHARED OR NO VOTING POWER
13,907,710 shares (shared)
4,531,741 shares (No Vote)
__________________________________________
: (7) SOLE DISPOSITIVE POWER
(Discretionary Accounts)
: 40,032,752 shares
__________________________________________
: (8) SHARED DISPOSITIVE POWER
: 13,907,710 shares (Shared)
0 shares (None)
_____________________________________________________________________________
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
(Discretionary & Non-discretionary Accounts)
53,940,462 shares
_____________________________________________________________________________
(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES
CERTAIN SHARES
_____________________________________________________________________________
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
7.6 %
_____________________________________________________________________________
(12) TYPE OF REPORTING PERSON
IA
_____________________________________________________________________________
CUSIP No. 20854P109 13G
_____________________________________________________________________________
(1) NAMES OF REPORTING PERSONS
Longleaf Partners Fund I.D. No. 63-6147721
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a)
(b) X
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Citizen of United States
_____________________________________________________________________________
: (5) SOLE VOTING POWER
: (Discretionary Accounts)
NUMBER OF SHARES BENEFICIALLY : None
OWNED BY EACH REPORTING PERSON __________________________________________
WITH : 6) SHARED VOTING POWER
: 12,561,111 shares (Shared)
__________________________________________
: (7) SOLE DISPOSITIVE POWER
: None
__________________________________________
: (8) SHARED DISPOSITIVE POWER
: 12,561,111 shares (Shared)
_____________________________________________________________________________
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
12,561,111 shares
_____________________________________________________________________________
(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES
CERTAIN SHARES
_____________________________________________________________________________
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
1.8 %
_____________________________________________________________________________
(12) TYPE OF REPORTING PERSON
IV
_____________________________________________________________________________
