Top 10 Hedge Funds Losing on Chesapeake Energy
Here are the ten hedge funds with the largest stake in the natural gas and oil exploration and production company, according to the most recent 13F regulatory filing data compiled by Bloomberg. One thing to note is hedge funds only have to report their long holdings in 13F regulatory filings.
Millennium Management: ~1.66 million shares
Westchester Capital Management: ~1.49 million shares
Ivory Investment Management: ~1.45 million shares
Aletheia Research: ~1.3 million shares
Tetrem Capital Management: ~1.04 million shares
Samlyn Capital LLC: 803,300 shares
Tocqueville Asset Management: 700,995
DE Shaw: 700,995
BP Capital Management: 570,055
Two Sigma Investments: 503,370
T. Boone Pickens’ BP Capital owned more than 570k shares in Chesapeake, according to the most recent 13F.
Shares of Chesapeake Energy tanked Wednesday after missing analysts’ EPS estimates yesterday afternoon.
The stock was last down more than 13% in during mid-day trading.
Chesapeake Energy has come under a great deal of scrutiny recently.
Today Reuters’ came out with a bombshell investigation that CEO and chairman Aubrey McClendon was running a $200 million private hedge fund that traded in oil and natural gas, in addition to other commodities. Last month, Reuters reported that McClendon borrowed as much as $1.1 billion in loans against his stakes in Chesapeake oil and gas wells he received under the company’s “Founder Well Participation Program.”
Read More: Business Insider