<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: June 30, 2000
Check here if Amendment [ ]; Amendment Number:
----------
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Chesapeake Partners Management Co., Inc.
Address: 1829 Reisterstown Road
Suite 220
Baltimore, Maryland 21208
Form 13F File Number: 28-4120
The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: Mark D. Lerner
Title: Vice President
Phone: (410) 602-0195
Signature, Place, and Date of Signing:
/s/ Mark D. Lerner Baltimore, Maryland August 14, 2000
------------------ ------------------- ---------------
[Signature] [City, State] [Date]
Report Type (Check only one.):
[X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager
are reported in this report.)
[ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all
holdings are reported by other reporting manager(s).)
[ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this
reporting manager are reported in this report and a portion are reported
by other reporting manager(s).)
<PAGE>
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
-----------------------------
Form 13F Information Table Entry Total: 55
------------------------------
Form 13F Information Table Value Total: $695,800
------------------------------
(thousands)
List of Other Included Managers:
Provide a numbered list of name(s) and Form 13F file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.
[If there are no entries in this list, state "NONE" and omit the column headings
and list entries.]
None
<PAGE>
FORM 13F INFORMATION TABLE
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7
--------------------- -------- ---------- -------- ----------------------- ---------- --------
TITLE OF VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER
NAME OF ISSUER CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS
--------------------- -------- ---------- -------- ----------------------- ---------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Abbott Labs Common 002824100 19,134 431,190 SH SOLE
------------------------------------------------------------------------------------------------------------------------
Alcatel Asthom Common 013904305 20,113 302,446 SH SOLE
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AHT Corporation Common 00756H108 733 366,300 SH SOLE
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Alcoa Inc. Common 013817101 30,699 1,058,600 SH SOLE
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American Wireless Common 001957406 7,527 270,000 SH SOLE
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Applied Materials Common 038222105 9,534 105,198 SH SOLE
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Arvin Industries Common 043339100 5,360 308,500 SH SOLE
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AsiaContent.com Common G05354108 210 55,000 SH SOLE
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BP AMOCO Common 055622104 17,390 307,100 SH SOLE
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Bush Boake Allen Common 123162109 5,928 135,500 SH SOLE
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Caremark RX, Inc. Common 141705103 43,603 6,400,500 SH SOLE
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Castle & Cooke Common 148433105 579 30,000 SH SOLE
------------------------------------------------------------------------------------------------------------------------
Central Newspapers Common 154647101 52,245 826,000 SH SOLE
------------------------------------------------------------------------------------------------------------------------
<CAPTION>
COLUMN 1 COLUMN 8
--------------------- -------------------------------
VOTING AUTHORITY
NAME OF ISSUER SOLE SHARED NONE
--------------------- -------------------------------
<S> <C> <C> <C>
Abbott Labs SOLE
------------------------------------------------------------
Alcatel Asthom SOLE
------------------------------------------------------------
AHT Corporation SOLE
------------------------------------------------------------
Alcoa Inc. SOLE
------------------------------------------------------------
American Wireless SOLE
------------------------------------------------------------
Applied Materials SOLE
------------------------------------------------------------
Arvin Industries SOLE
------------------------------------------------------------
AsiaContent.com SOLE
------------------------------------------------------------
BP AMOCO SOLE
------------------------------------------------------------
Bush Boake Allen SOLE
------------------------------------------------------------
Caremark RX, Inc. SOLE
------------------------------------------------------------
Castle & Cooke SOLE
------------------------------------------------------------
Central Newspapers SOLE
------------------------------------------------------------
</TABLE>
<PAGE>
FORM 13F INFORMATION TABLE
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7
--------------------- -------- ---------- -------- ------------------------ ---------- --------
TITLE OF VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER
NAME OF ISSUER CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS
--------------------- -------- ---------- -------- ------------------------ ---------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
CMGI, Inc. Common 125750109 1,204 26,200 SH SOLE
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Comsat Corp Common 20564D107 962 40,920 SH SOLE
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Computer Sciences Common 205363104 3,017 40,400 SH SOLE
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Corning Glass Common 219350105 16,191 59,994 SH SOLE
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Dynatech Common 268140100 1,252 69,059 SH SOLE
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Doubleclick, Inc. Common 258609304 2,426 63,630 SH SOLE
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Exxon Mobil Corp. Common 30231G102 3,391 43,200 SH SOLE
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Financial Sec Assur Common 31769P100 1,510 19,900 SH SOLE
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Fleet Fin. Warrants Common 338915119 1,828 68,992 SH SOLE
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Flextronics Int'l Common Y2573F102 7,000 101,905 SH SOLE
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Gucci Group NV Common 401566104 2,369 25,000 SH SOLE
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Hannaford Bros Co Common 410550107 77,352 1,076,200 SH SOLE
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Hayes Lemmerz Common 420781106 949 78,700 SH SOLE
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Healthsouth Corp. Common 421924101 1,256 174,800 SH SOLE
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International Paper Common 460146103 2,185 73,297 SH SOLE
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<CAPTION>
COLUMN 1 COLUMN 8
--------------------- -------------------------------
VOTING AUTHORITY
NAME OF ISSUER SOLE SHARED NONE
--------------------- -------------------------------
<S> <C> <C> <C>
CMGI, Inc. SOLE
------------------------------------------------------------
Comsat Corp SOLE
------------------------------------------------------------
Computer Sciences SOLE
------------------------------------------------------------
Corning Glass SOLE
------------------------------------------------------------
Dynatech SOLE
------------------------------------------------------------
Doubleclick, Inc. SOLE
------------------------------------------------------------
Exxon Mobil Corp. SOLE
------------------------------------------------------------
Financial Sec Assur SOLE
------------------------------------------------------------
Fleet Fin. Warrants SOLE
------------------------------------------------------------
Flextronics Int'l SOLE
------------------------------------------------------------
Gucci Group NV SOLE
------------------------------------------------------------
Hannaford Bros Co SOLE
------------------------------------------------------------
Hayes Lemmerz SOLE
------------------------------------------------------------
Healthsouth Corp. SOLE
------------------------------------------------------------
International Paper SOLE
------------------------------------------------------------
</TABLE>
<PAGE>
FORM 13F INFORMATION TABLE
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7
--------------------- -------- ---------- -------- ----------------------- ---------- --------
TITLE OF VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER
NAME OF ISSUER CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS
--------------------- -------- ---------- -------- ----------------------- ---------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Illinois Toolworks Common 452308109 12,751 223,700 SH SOLE
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Infinity Broadcasting Common 456625102 3,803 104,375 SH SOLE
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J.C. Penney Common 708160106 922 50,000 SH SOLE
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Kansas City Southern Common 485170104 8,869 100,000 SH SOLE
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Mediaone Common 58440J104 64,159 967,500 SH SOLE
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Meritor Automotive Common 59000G100 110 10,000 SH SOLE
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Medimmune, Inc. Common 584699102 5,763 78,210 SH SOLE
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Microsoft, Inc. Common 594918104 15,541 194,265 SH SOLE
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Motorola Common 620076109 27,819 953,127 SH SOLE
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Nextlink Commu. Common 65333H707 15,569 424,000 SH SOLE
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Northern Telecom Common 656569100 27,165 393,688 SH SOLE
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OPENTV Corp. Common G67543101 449 10,000 SH SOLE
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Pharmacia Corp. Common 716941109 14,549 281,483 SH SOLE
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Pfizer Inc. Common 717081103 24,256 505,325 SH SOLE
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Psinet Inc. Common 74437C101 1,264 50,300 SH SOLE
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<CAPTION>
COLUMN 1 COLUMN 8
--------------------- -------------------------------
VOTING AUTHORITY
NAME OF ISSUER SOLE SHARED NONE
--------------------- -------------------------------
<S> <C> <C> <C>
Illinois Toolworks SOLE
-----------------------------------------------------------
Infinity Broadcasting SOLE
-----------------------------------------------------------
J.C. Penney SOLE
-----------------------------------------------------------
Kansas City Southern SOLE
-----------------------------------------------------------
Mediaone SOLE
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Meritor Automotive SOLE
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Medimmune, Inc. SOLE
-----------------------------------------------------------
Microsoft, Inc. SOLE
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Motorola SOLE
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Nextlink Commu. SOLE
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Northern Telecom SOLE
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OPENTV Corp. SOLE
-----------------------------------------------------------
Pharmacia Corp. SOLE
-----------------------------------------------------------
Pfizer Inc. SOLE
-----------------------------------------------------------
Psinet Inc. SOLE
-----------------------------------------------------------
</TABLE>
<PAGE>
FORM 13F INFORMATION TABLE
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7
--------------------- -------- ---------- -------- ----------------------- ---------- --------
TITLE OF VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER
NAME OF ISSUER CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS
--------------------- -------- ---------- -------- ----------------------- ---------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Qwest Int'l Common 749121109 59,788 1,203,280 SH SOLE
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Qwest Int'l Common 749121109 36,525 730,500 SH PUT SOLE
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Qwest Int'l Common 749121109 3,402 68,468 SH CALL SOLE
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SFX Entertainment Common 784178105 2,266 50,000 SH SOLE
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Spyglass, Inc. Common 852192103 4,246 135,600 SH SOLE
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Scottish Power Common 81013T705 440 13,158 SH SOLE
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Shire Pharmaceuticals Common 82481R106 5,333 102,800 SH SOLE
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Solectron Corp. Common 834182107 5,469 130,600 SH SOLE
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Thermadyne Holdings Common 883435208 403 26,004 SH SOLE
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United Wtr Res Inc Common 913190104 6,808 195,200 SH SOLE
------------------------------------------------------------------------------------------------------------------------
Viacom Inc. CLB Common 925524308 11,312 165,900 SH SOLE
------------------------------------------------------------------------------------------------------------------------
Voicestream Wireless Common 928615103 872 7,441 SH SOLE
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<CAPTION>
COLUMN 1 COLUMN 8
--------------------- -------------------------------
VOTING AUTHORITY
NAME OF ISSUER SOLE SHARED NONE
--------------------- -------------------------------
<S> <C> <C> <C>
Qwest Int'l SOLE
------------------------------------------------------------
Qwest Int'l NONE
------------------------------------------------------------
Qwest Int'l NONE
------------------------------------------------------------
SFX Entertainment SOLE
------------------------------------------------------------
Spyglass, Inc. SOLE
------------------------------------------------------------
Scottish Power SOLE
------------------------------------------------------------
Shire Pharmaceuticals SOLE
------------------------------------------------------------
Solectron Corp. SOLE
------------------------------------------------------------
Thermadyne Holdings SOLE
------------------------------------------------------------
United Wtr Res Inc SOLE
------------------------------------------------------------
Viacom Inc. CLB SOLE
------------------------------------------------------------
Voicestream Wireless SOLE
------------------------------------------------------------
</TABLE>
