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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31, 2000
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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 May 15, 2000
- --------------------- --------------------------- -------------------
[Signature] [City, State] [Date]
Report Type (Check one only):
[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).)
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Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
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Form 13F Information Table Entry Total: 49
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Form 13F Information Table Value Total: $598,880
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(thousands)
List of Other Included Managers:
Provide a numbered list of name(s) and Form 13F file nember(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
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FORM 13F INFORMATION TABLE
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------ -------------- -------- -------- ------- --- ---- ---------- -------- ---- ------ ----
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Aerial Comm. Common 007655103 3,772 66,400 SH SOLE SOLE
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AHT Corporation Common 00756H108 1,496 443,300 SH SOLE SOLE
_________________________________________________________________________________________________________________________________
Akamai Technologies Common 00971T101 4,581 29,600 SH SOLE SOLE
_________________________________________________________________________________________________________________________________
Alza Corporation Common 022615108 22,759 605,900 SH SOLE SOLE
_________________________________________________________________________________________________________________________________
Applied Materials Common 038222105 9,948 106,393 SH SOLE SOLE
_________________________________________________________________________________________________________________________________
Artistdirect Common 04315D103 381 50,000 SH SOLE SOLE
_________________________________________________________________________________________________________________________________
AtHome Corp. Common 045919107 329 10,000 SH SOLE SOLE
_________________________________________________________________________________________________________________________________
Atlantic Richfield Common 048825103 93,509 1,100,100 SH SOLE SOLE
_________________________________________________________________________________________________________________________________
Abbott Labs Common 002824100 15,173 431,190 SH SOLE SOLE
_________________________________________________________________________________________________________________________________
Honeywell Int'l Common 438516106 1,442 27,375 SH SOLE SOLE
_________________________________________________________________________________________________________________________________
Banc One Common 06423A103 1,203 35,000 SH SOLE SOLE
_________________________________________________________________________________________________________________________________
Caremark RX, Inc. Common 141705103 27,012 6,450,500 SH SOLE SOLE
_________________________________________________________________________________________________________________________________
CBS, Inc Common 12490K107 20,334 359,100 SH SOLE SOLE
_________________________________________________________________________________________________________________________________
CMGI, Inc. Common 125750109 2,953 26,200 SH SOLE SOLE
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Comcast Class K Common 200300200 1,173 26,740 SH SOLE SOLE
_________________________________________________________________________________________________________________________________
</TABLE>
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FORM 13F INFORMATION TABLE
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------ -------------- -------- -------- ------- --- ---- ---------- -------- ---- ------ ----
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Computer Associates Common 904912109 10,838 183,104 SH SOLE SOLE
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Computer Sciences Common 205363104 3,197 40,400 SH SOLE SOLE
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Corning Glass Common 219350105 11,639 59,994 SH SOLE SOLE
_________________________________________________________________________________________________________________________________
DII Group, Inc. Common 232949107 21,821 193,000 SH SOLE SOLE
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Dynatech Common 268140100 2,999 207,700 SH SOLE SOLE
_________________________________________________________________________________________________________________________________
Doubleclick, Inc. Common 258609304 27,676 295,600 SH SOLE SOLE
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Eastern Utilities Common 277173100 3,950 125,900 SH SOLE SOLE
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Esat Telecom Group Common 26883Y102 14,042 140,600 SH SOLE SOLE
_________________________________________________________________________________________________________________________________
Exxon Mobil Corp. Common 30231G102 3,367 43,200 SH SOLE SOLE
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Fleet Fin. Warrants Common 338915119 2,268 68,992 SH SOLE SOLE
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Healthsouth Corp. Common 421924101 994 174,800 SH SOLE SOLE
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Intervu Inc. Common 46114R106 8,172 90,800 SH SOLE SOLE
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Illinois Toolworks Common 452308109 12,359 223,700 SH SOLE SOLE
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Infinity Broadcasting Common 456625102 27,677 854,875 SH SOLE SOLE
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Michael Foods Common 594079105 221 10,500 SH SOLE SOLE
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Medimmune, Inc. Common 584699102 4,539 26,070 SH SOLE SOLE
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</TABLE>
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FORM 13F INFORMATION TABLE
PAGE 1
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------ -------------- -------- -------- ------- --- ---- ---------- -------- ---- ------ ----
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Microsoft, Inc. Common 594918104 20,592 194,265 SH SOLE SOLE
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Motorola Common 620076109 45,234 317,709 SH SOLE SOLE
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Northern Telecom Common 656569100 24,827 196,844 SH SOLE SOLE
_________________________________________________________________________________________________________________________________
Payless Shoesource Common 704379106 7,972 153,500 SH SOLE SOLE
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Pharmacia Corp. Common 716941109 14,081 218,614 SH SOLE SOLE
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Reynolds Metals Common 761763101 34,066 509,400 SH SOLE SOLE
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Sybron Chemical Common 870903101 533 37,700 SH SOLE SOLE
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Scottish Power Common 81013T705 1,426 45,000 SH SOLE SOLE
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Shire Pharmaceuticals Common 82481R106 5,269 102,800 SH SOLE SOLE
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Solectron Corp. Common 834182107 5,240 130,600 SH SOLE SOLE
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Thermadyne Holdings Common 883435208 514 26,004 SH SOLE SOLE
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Thermo Bionalaysis Common 88355H108 462 16,700 SH SOLE SOLE
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Times Mirror Common 887364107 19,443 209,200 SH SOLE SOLE
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US Food Services Common 90331R101 22,403 870,000 SH SOLE SOLE
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Ventiv Health Common 922793104 4,519 449,132 SH SOLE SOLE
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Voicestream Wireless Common 928615103 26,436 205,226 SH SOLE SOLE
_________________________________________________________________________________________________________________________________
[Repeat as necessary.]
</TABLE>
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FORM 13F INFORMATION TABLE
PAGE 1
<TABLE>
<CAPTION>
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
- ------------------ -------------- -------- -------- ------------------ ---------- -------- --------------------
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
- ------------------ -------------- -------- -------- ------- --- ---- ---------- -------- ---- ------ ----
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Wicor, Inc. Common 929253102 4,039 130,300 SH SOLE SOLE
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</TABLE>
