CHESAPEAKE PARTNERS MANAGEMENT CO INC/MD

Chesapeake Partners Management Co Inc. is a hedge fund based out of Baltimore, Maryland. The company was originally established in 1991 by a group of founding partners consisting of Traci J. Shanbrun Lerner and Mark David Lerner, both of whom are still with the company today acting as its President and Vice President. Chesapeake Partners Management Co conducts its research internally, utilizing a fundamental and quantitative methodology to make its investment decisions. The company focuses on the public equity and alternative markets within the United States. Chesapeake Partners Management Co invests most heavily in the consumer discretionary and health care sectors, each of which makes up approximately a third of the firm’s total asset allocations, and also invests in the information technology, materials, and real estate sectors, among other sectors to a lesser degree, in order of decreasing allocation. The company holds its allocations for 5.6 quarters on average although the firm only holds its top 10 allocations, which makes up just under a third of the firm’s total allocations, for a single quarter on average. In the most recent quarter, Chesapeake Partners Management Co had a turnover rate of 54.3%. The company currently operates with 17 employees of which 14 are investment professionals. Chesapeake Partners Management Co oversees over $1.5 billion in total assets under management spread across 3 total accounts, all of which are discretionary accounts. Although the firm’s total number of accounts has stayed the same in recent years, its total assets under management has been on a growing trend in recent years until the most recent quarter, increasing from $1.6 billion back in 2012 to over $2 billion at the end of 2015 before dropping down to its current amount. Chesapeake Partners Management Co provides services exclusively to pooled investment vehicles and takes advisory fees in the form of a percentage of assets and performance based fees.