Eagle Capital Buys Chesapeake Energy, BP, AON and AIG

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Eagle Capital Buys Chesapeake Energy, BP, AON and AIG
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Boykin Curry, the hedge fund manager of Eagle Capital Management filed its 13f with the Securities and Exchange Commission (SEC) for the third quarter. Based on its filing, the hedge fund’s portfolio is worth approximately $13.057 billion for the third quarter.

Eagle Capital Buys Chesapeake Energy, BP, AON and AIG

Eagle Capital Management acquired 11 new stocks, added positions in 27 stocks, and reduced its holding in 27 companies. The hedge funds’ top holdings as of September 30, 2012 including Warren Buffett’s Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B) 5.78 percent, Liberty Global Inc. (NASDAQ:LBTYA), AON PLC  (NYSE:AON) 5.34 percent, Wal-Mart Stores, Inc. (NYSE:WMT) 4.86 percent, and Comcast Corporation (NASDAQ:CMCSA).

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Curry’s major new positions acquired during the third quarter include; McDermott International (NYSE:MDR) 15,600 shares with $190,632 market value, Marriot Vacations Worldwide Corp (NYSE:VAC) 7,300 shares worth $262, 946 and QEP Resources Inc (NYSE:QEP) 7,300 shares worth $231,118. The hedge fund also acquired stakes of Chesapeake Energy Corporation (NYSE:CHK) 11,300 shares worth $213,231, and BP Plc (NYSE:BP) (LON:BP) 5,900 shares with $249,924 market value.

Earlier this month, Chesapeake Energy Corporation (NYSE:CHK), the largest producer of natural gas in the United States, announced its new rate for $2 billion unsecured five-year facility loan due in December 2017. The new loan was arranged by Bank of America Corp (NYSE:BAC), Goldman Sachs Group, Inc. (NYSE:GS) and Jefferies Finance LLC. Chesapeake Energy Corporation (NYSE:CHK) will use the proceeds of the loan to repay its debts under its current loan due in May 2012 and its revolving debts. The company also said that the new loan will boost its liquidity and financial flexibility.

Eagle Capital Management also acquired 19,000 shares of Bank of America Corp (NYSE;BAC) worth $167,770, General Electric Company (NYSE:GE) 16,000 shares worth $363,360 and New Mont Mining Corp (NYSE:NEM) 7,700 shares worth $431,315.

General Electric Company (NYSE:GE) recently signed a partnership agreement with Clean Energy Fuels Corp. (NASDAQ:CLNE) to build two additional LNG stations, which will use GE’s modular MicroLNG technology. GE agreed to invest $200 million to build the two plants. Clean Energy and Chesapeake Energy Corporation (NYSE:CHK) has the same partnership agreement wherein Chesapeake agreed to invest $150 million dollars to build 150 LNG truck-refueling stations along strategic & major truck-stop locations to form the backbone of America’s ‘natural gas highway.’

Eagle Capital also made additional investments in American International Group, Inc. (NYSE:AIG) 6,600 shares, AON PLC (NYSE:AON) 435,190 shares, Google Inc (NASDAQ:GOOG) 19,789 shares, Goldman Sachs Group, Inc. (NYSE:GS) 91,216 shares, and Berkshire Hathaway Inc. (NYSE:BRK.B) 714,214 shares.

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