Form SC 13D/A CONSOL Energy Inc Filed by: SOUTHEASTERN ASSET MANAGEMENT INC/TN/
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Amendment No. 3
CONSOL Energy Inc.
________________________________________________________
(Name of Issuer)
Common Stock
_______________________________________________________
(Title of Class and Securities)
20854P109
_______________________________________________________
(CUSIP Number of Class of Securities)
O. Mason Hawkins
Chairman of the Board and C.E.O.
and
Andrew R. McCarroll
Vice President & General Counsel
Southeastern Asset Management, Inc.
6410 Poplar Avenue, Suite 900
Memphis, TN 38119
(901) 761-2474
___________________________________________________________
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
June 6, 2016
___________________________________________
(Date of Event which Requires
Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
Schedule because of Sections 240.13d-1(e), 240.13d-1(f), or 240.13d-1(g), check
the following box: [X]
CUSIP No. 20854P109 13D
_____________________________________________________________________________
(1) NAMES OF REPORTING PERSONS
Southeastern Asset Management, Inc. I.D. No. 62-0951781
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a)
(b) X
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS
00: Funds of investment advisory clients
_____________________________________________________________________________
(5) CHECK BOX IF DISCOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Tennessee
_____________________________________________________________________________
: (7) SOLE VOTING POWER
: (Discretionary Accounts)
NUMBER OF SHARES BENEFICIALLY : 21,696,471 shares
OWNED BY EACH REPORTING PERSON __________________________________________
WITH : (8) SHARED OR NO VOTING POWER
: 25,004,024 shares (Shared)
: 3,788,270 shares (No Vote)
__________________________________________
: (9) SOLE DISPOSITIVE POWER
(Discretionary Accounts)
: 25,484,741 shares
__________________________________________
: (10) SHARED DISPOSITIVE POWER
: 25,004,024 shares (Shared)
: 0 shares (None)
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
50,488,765 shares
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
22.0 %
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON
IA
_____________________________________________________________________________
CUSIP No. 20854P109 13D
_____________________________________________________________________________
(1) NAMES OF REPORTING PERSONS
Longleaf Partners Fund I.D. No. 63-6147721
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a)
(b) X
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS
00: Funds of investment company shareholders
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEDDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Massachusetts
_____________________________________________________________________________
: (7) SOLE VOTING POWER
NUMBER OF SHARES BENEFICIALLY : None
OWNED BY EACH REPORTING PERSON __________________________________________
WITH : (8) SHARED VOTING POWER
: 12,263,500 shares (Shared)
__________________________________________
: (9) SOLE DISPOSITIVE POWER
: None
__________________________________________
: (10) SHARED DISPOSITIVE POWER
: 12,263,500 shares (Shared)
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
12,263,500 shares
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
5.4 %
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON
IV
_____________________________________________________________________________
CUSIP No. 20854P109 13D
___________________________________________________________________
(1) NAMES OF REPORTING PERSONS
Longleaf Partners Small-Cap Fund I.D. No. 62-1376170
___________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a)
(b) X
___________________________________________________________________
(3) SEC USE ONLY
___________________________________________________________________
(4) SOURCE OF FUNDS
OO: Funds of investment company shareholders
___________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [X]
___________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Massachusetts
___________________________________________________________________
: (7) SOLE VOTING POWER
:
NUMBER OF SHARES BENEFICIALLY : None
OWNED BY EACH REPORTING PERSON ________________________________
WITH : (8) SHARED VOTING POWER
: 12,494,200 shares
________________________________
: (9) SOLE DISPOSITIVE POWER
:
: None
________________________________
: (10) SHARED DISPOSITIVE POWER
: 12,494,200 shares
___________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
12,494,200 shares
___________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES
___________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
5.5%
___________________________________________________________________
(14) TYPE OF REPORTING PERSON
IV
___________________________________________________________________
CUSIP No. 20854P109 13D
_____________________________________________________________________________
(1) NAMES OF REPORTING PERSONS
O. Mason Hawkins I.D. No. XXX-XX-XXXX
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a)
(b) X
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS
00: None
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Citizen of United States
_____________________________________________________________________________
: (7) SOLE VOTING POWER
: (Discretionary Accounts)
NUMBER OF SHARES BENEFICIALLY : None
OWNED BY EACH REPORTING PERSON __________________________________________
WITH : (8) SHARED VOTING POWER
: None
__________________________________________
: (9) SOLE DISPOSITIVE POWER
: None
__________________________________________
: (10) SHARED DISPOSITIVE POWER
: None
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
None (See Item 3)
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES
CERTAIN SHARES [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
0.0 %
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON
IN
_____________________________________________________________________________
Item 5. Interest In Securities Of The Issuer
(a) The aggregate number and percentage of Securities to which this
Schedule 13D relates is 50,488,765 shares of the common stock of the Issuer,
constituting approximately 22.0% of the 229,366,118 shares outstanding.
Common % of outstanding
Shares Common Shares
Held
___________________________________________________________________
Voting Authority
Sole: 21,696,471 9.5%
Shared: 25,004,024* 10.9%
None: 3,788,270 1.6%
Total 50,488,765 22.0%
*Consists of shares owned by Longleaf Partners Fund (12,263,500), Longleaf
Partners Small-Cap Fund (12,494,200, and Longleaf Partners Global Fund
(246,324), each a series of Longleaf Partners Funds Trust, an open-end
management investment company registered under the Investment Company Act of
1940.
Dispositive Authority
Sole: 25,484,741 11.1%
Shared: 25,004,024* 10.9%
None: 0 0.0%
Total 50,488,765 22.0%
*Consists of shares owned by Longleaf Partners Fund (12,263,500), Longleaf
Partners Small-Cap Fund (12,494,200), and Longleaf Partners Global Fund
(246,324), each a series of Longleaf Partners Funds Trust, an open-end
management investment company registered under the Investment Company Act of
1940.
(b) Southeastern generally has the sole power to dispose of or to
direct the disposition of the Securities held for discretionary accounts of its
investment clients, and may be granted the sole power to vote or direct the
vote of such Securities; such powers may be retained by or shared with the
respective clients for shared or non-discretionary accounts. Shares held by
any Series of Longleaf Partners Funds Trust are reported in the "shared"
category.
(c) Purchase or sale transactions in the Securities during the past
sixty days are disclosed on Schedule II.
(d) The investment advisory clients of Southeastern have the sole
right to receive and, subject to notice, to withdraw the proceeds from the sale
of the Securities, and the sole power to direct the receipt of dividends from
any of the Securities held for their respective accounts. Such clients may
also terminate the investment advisory agreements without penalty upon
appropriate notice. Southeastern does not have an economic interest in any of
the Securities reported herein.
(e) Not applicable.
Signatures
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
Dated: June 8, 2016
Southeastern Asset Management, Inc.
By /s/ Andrew R. McCarroll
_______________________________________________
Andrew R. McCarroll
Vice President and General Counsel
Longleaf Partners Fund
Longleaf Partners Small-Cap Fund
By: Southeastern Asset Management, Inc.
/s/ Andrew R. McCarroll
_______________________________________________
Andrew R. McCarroll
Vice President & General Counsel
O. Mason Hawkins, Individually
/s/ O. Mason Hawkins
_______________________________________________
Joint Filing Agreement
In accordance with Rule 13d-1(k) under the Securities Exchange Act
of 1934, the persons or entities named below agree to the joint
filing on behalf of each of them of this Initial Schedule 13D with
respect to the Securities of the Issuer and further agree that this
joint filing agreement be included as an exhibit to this Initial to
Schedule 13D. In evidence thereof, the undersigned hereby execute
this Agreement as of June 8, 2016.
Southeastern Asset Management, Inc.
By /s/ Andrew R. McCarroll
_______________________________________________
Andrew R. McCarroll
Vice President and General Counsel
Longleaf Partners Fund
Longleaf Partners Small-Cap Fund
By: Southeastern Asset Management, Inc.
/s/ Andrew R. McCarroll
_______________________________________________
Andrew R. McCarroll
Vice President & General Counsel
O. Mason Hawkins, Individually
/s/ O. Mason Hawkins
_______________________________________________
SCHEDULE II
Transaction Type Date # of Shares Price per Share*
Sale 04/14/16 18,797 13.11
Sale 04/14/16 18,003 13.11
Sale 04/18/16 44,400 12.84
Sale 04/18/16 68,500 12.84
Sale 04/18/16 18,523 12.84
Sale 04/18/16 17,600 12.84
Sale 04/18/16 17,000 12.84
Sale 04/18/16 1,200 12.84
Sale 04/18/16 8,607 12.84
Sale 04/18/16 73,900 12.84
Sale 04/18/16 5,500 12.84
Sale 04/18/16 20,300 12.84
Sale 04/18/16 31,500 12.84
Sale 04/18/16 8,400 12.84
Sale 04/18/16 8,900 12.84
Sale 04/18/16 7,000 12.84
Sale 04/18/16 540 12.84
Sale 04/18/16 3,860 12.84
Sale 04/18/16 39,700 12.84
Sale 04/18/16 52,000 12.84
Sale 04/18/16 6,800 12.84
Sale 04/18/16 505 12.84
Sale 04/26/16 32,000 13.18
Sale 04/26/16 16,600 13.18
Sale 04/26/16 15,000 13.18
Sale 04/26/16 400 13.18
Sale 04/26/16 500 13.18
Sale 04/26/16 500 13.18
Sale 04/26/16 100 13.18
Sale 04/26/16 10,400 13.18
Sale 04/29/16 11,997 15.58
Sale 04/29/16 8,300 15.58
Sale 05/03/16 2,547 14.65
Sale 05/03/16 2,800 14.65
Sale 05/03/16 6,300 14.65
Sale 05/03/16 5,000 14.65
Sale 05/03/16 700 14.65
Sale 05/03/16 3,333 14.65
Sale 06/06/16 16,200 15.43
Sale 06/06/16 33,000 15.43
Sale 06/06/16 81,000 15.43
Sale 06/06/16 20,000 15.43
Sale 06/06/16 9,000 15.43
Sale 06/06/16 10,900 15.43
Sale 06/06/16 15,800 15.43
Sale 06/06/16 4,900 15.43
Sale 06/06/16 21,400 15.43
Sale 06/06/16 18,000 15.43
Sale 06/06/16 21,700 15.43
Sale 06/06/16 1,700 15.43
Sale 06/06/16 10,112 15.43
Sales by Southeastern clients in the ordinary course of business on the New
York Stock Exchange or through Electronic Communication Networks (ECNs).
Southeastern does not have a "pecuniary interest" as defined by Securities
Exchange Act of 1934 Rule 16a-1 with respect to its client's holdings and
no single client owns over 10% of the Issuer's Securities. In addition to
the above transactions, clients of Southeastern removed the following
shares from Southeastern's discretion: April 25, 2016 - 168,000 shares;
April 29, 2016 - 27,170 shares; May 11, 2016 - 210,859 shares; and May 24,
2016 - 315,726 shares.
*Exclusive of commissions.
1
SCHEDULE 13D - CONSOL Energy Inc. ("Issuer")
10
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