Ownership Submission
FORM 3
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  Porter Orlin LLC
2. Date of Event Requiring Statement (Month/Day/Year)
07/13/2010
3. Issuer Name and Ticker or Trading Symbol
Chesapeake Lodging Trust [CHSP]
(Last)
(First)
(Middle)
666 FIFTH AVENUE, 34TH FLOOR
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

NEW YORK, NY 10103
6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)
2. Amount of Securities Beneficially Owned
(Instr. 4)
3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)
4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Shares 1,050,000
I (1)
Footnote (2)
Common Shares 9,350
I (1)
Footnote (3)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)
2. Date Exercisable and Expiration Date
(Month/Day/Year)
3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)
4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)
6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Porter Orlin LLC
666 FIFTH AVENUE
34TH FLOOR
NEW YORK, NY 10103
    X    
PORTER A ALEX
C/O PORTER ORLIN LLC
666 FIFTH AVENUE, 34TH FLOOR
NEW YORK, NY 10103
    X    
HULME GEOFFREY
C/O PORTER ORLIN LLC
666 FIFTH AVENUE, 34TH FLOOR
NEW YORK, NY 10103
    X    
FRIEDLAND JONATHAN W
C/O PORTER ORLIN LLC
666 FIFTH AVENUE, 34TH FLOOR
NEW YORK, NY 10103
    X    
ORLIN PAUL E
C/O PORTER ORLIN LLC
666 FIFTH AVENUE, 34TH FLOOR
NEW YORK, NY 10103
    X    

Signatures

Porter Orlin LLC, By: /s/ A. Alex Porter, Principal 07/15/2010
**Signature of Reporting Person Date

/s/ A. Alex Porter (1) 07/15/2010
**Signature of Reporting Person Date

/s/ Geoffrey Hulme (1) 07/15/2010
**Signature of Reporting Person Date

/s/ Jonathan W. Friedland (1) 07/15/2010
**Signature of Reporting Person Date

/s/ Paul Orlin (1) 07/15/2010
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Porter Orlin LLC, A. Alex Porter, Geoffrey Hulme, Jonathan W. Friedland and Paul Orlin (each, a "Reporting Person" and collectively, the "Reporting Persons") disclaim beneficial ownership of the reported securities except to the extent of his pecuniary interest therein. The Reporting Persons affirmatively disclaim being a "group" for purposes of Section 16 of the Securities Exchange Act of 1934, as amended.
(2) The Reporting Persons may be deemed to have beneficial ownership over these securities, which are held in the accounts of unregistered investment companies and managed accounts over which the Reporting Persons exercise investment discretion.
(3) Paul Orlin may be deemed to have beneficial ownership over these securities, which are held in an account over which he exercises investment discretion.

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