market folly

Howard Marks' investment firm Oaktree Capital filed a 13G with the SEC recently regarding shares of Charter Communications (CHTR).  Per the filing, Oaktree has reported a 2.20% ownership stake in CHTR with 2,225,882 shares.

This marks a reduction of 82% in their position size since the end of 2012.  The filing was made due to portfolio activity on May 1st.

This filing is largely a formality as it's already been reported that John Malone's Liberty Media (LMCA) has acquired a 27.3% stake in CHTR, buying from Apollo Management, Oaktree Capital and Crestview Partners.  That deal encompasses around 26.9 million shares and 1.1 million warrants for $95.50 per share.  The deal closed in the first half of the second quarter.

In other ownership activity, we also highlighted how Steve Mandel's Lone Pine Capital added to its CHTR stake this year.

Per Google Finance, Charter Communications "provides cable services in the United States, offering a range of entertainment, information and communications solutions to residential and commercial customers. Its infrastructure consists of a hybrid fiber coaxial cable plant passing approximately 12 million homes, with 98% of homes passed at 550 megahertz or greater and 98% of plant miles two-way active. A national Internet protocol (IP) infrastructure interconnects Charter markets."

For more on this hedge fund, head to commentary from Oaktree's Howard Marks.