WESTCHESTER CAPITAL MANAGEMENT LLC
Q2 2023 Form 13-F
VALHALLA, NEW YORK
CIK 0001512805
· CRD 155686
· SEC-registered investment adviser
Consolidated report · includes
2 managers
since Q2 2013
$3.2B Reported Value Total
WESTCHESTER CAPITAL MANAGEMENT, LLC reports 7 total accounts under management (AUM). There are 7 discretionary accounts valued at $5,348,167,512, and 0 non-discretionary accounts.
Source: Form ADV filed * Note that certain holdings are exempt from Form 13-F reporting, so the AUM totals may be greater than the Form 13-F total.
Private funds (Form ADV)
1 fund
· $7.3M gross asset value
Other: $7.3M
Source: Form ADV filed 2026-03-30
Reported value
$3.2B
Quarter over quarter
-1.4%
Holdings
308
Top-10 concentration
37.3%
Filing Structure
Reports holdings for
- Virtus Investment Advisers Inc · File #028-00085 · since Q4 2021
- WESTCHESTER CAPITAL PARTNERS LLC · File #028-11493 · since Q2 2013
- JACKSON NATIONAL ASSET MANAGEMENT LLC · File #028-06761 · Q1 2025 – Q1 2025 · declared by one filing
Key People
Form ADV owners & control persons
Michael Aaron Angerthal
EXECUTIVE VICE PRESIDENT
George Robert Aylward
CHIEF EXECUTIVE OFFICER
Roy Douglas Behren
CO-PRESIDENT AND CO-CHIEF INVESTMENT OFFICER
Filing Navigation
Coverage begins with the second quarter of 2013. Earlier quarters are not shown while their accuracy is being verified.
13F Metrics
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Q2 2023 13F record
Q2 2023 13F filing summary
| Period of report | June 30, 2023 |
|---|---|
| Filed | August 14, 2023 |
| Form | 13F-HR |
| Reported value | $3.2B |
| Positions | 308 |
| Change in reported value | -3.6% |
| New positions | 74 |
| Exited positions | 114 |
| Position turnover | 44.6% |
| Top-10 concentration | 37.3% |
13F filings by quarter
| Quarter | Positions | Value |
|---|---|---|
|
Q2 2026 13F
Filed Aug 14, 2026
|
300 | $2.0B |
|
Q1 2026 13F
Filed May 15, 2026
|
297 | $2.2B |
|
Q4 2025 13F
Filed Feb 13, 2026
|
277 | $2.4B |
|
Q3 2025 13F
Filed Nov 14, 2025
|
246 | $2.2B |
|
Q2 2025 13F
Filed Aug 14, 2025
|
203 | $1.9B |
|
Q1 2025 13F
Filed May 14, 2025
|
160 | $1.9B |
|
Q4 2024 13F
Filed Feb 14, 2025
|
157 | $1.8B |
|
Q3 2024 13F
Filed Nov 14, 2024
|
180 | $2.3B |
|
Q2 2024 13F
Filed Aug 14, 2024
|
210 | $2.7B |
|
Q1 2024 13F
Filed May 15, 2024
|
228 | $2.7B |
|
Q4 2023 13F
Filed Feb 15, 2024
|
256 | $2.9B |
|
Q3 2023 13F
Filed Nov 8, 2023
|
288 | $3.4B |
|
Q2 2023 13F
Filed Aug 14, 2023
|
308 | $3.2B |
|
Q1 2023 13F
Filed May 15, 2023
|
348 | $3.3B |
|
Q4 2022 13F
Filed Feb 14, 2023
|
435 | $3.6B |
|
Q3 2022 13F
Filed Nov 15, 2022
|
465 | $3.6B |
|
Q2 2022 13F
Filed Aug 15, 2022
|
415 | $3.6B |
|
Q1 2022 13F
Filed May 16, 2022
|
409 | $3.7B |
|
Q4 2021 13F
Filed Feb 14, 2022
|
381 | $3.5B |
|
Q3 2021 13F
Filed Nov 15, 2021
|
353 | $3.5B |
33 earlier quarters on file — choose one from the quarter menu above.
Top 20 holdings · Q2 2023
| # | Holding | Reported value | % of portfolio |
|---|---|---|---|
| 1 | HZNP HORIZON THERAPEUTICS PUB L | $232.2M | 7.3% |
| 2 | ATVI ACTIVISION BLIZZARD INC | $157.4M | 4.95% |
| 3 | VMW VMWARE INC | $148.9M | 4.68% |
| 4 | SGEN SEAGEN INC | $133.7M | 4.2% |
| 5 | SPY P SPDR S&P 500 ETF TR | $110.8M | 3.48% |
| 6 | AJRD AEROJET ROCKETDYNE HLDGS INC | $106.6M | 3.35% |
| 7 | UNVR UNIVAR SOLUTIONS INC | $93.3M | 2.93% |
| 8 | MMP MAGELLAN MIDSTREAM PRTNRS LP | $73.8M | 2.32% |
| 9 | ISEE IVERIC BIO INC | $66.3M | 2.08% |
| 10 | OSH 0 03/15/26 OAK STR HEALTH INC | $64.7M | 2.03% |
| 11 | TECK P TECK RESOURCES LTD | $57.6M | 1.81% |
| 12 | TECK TECK RESOURCES LTD | $57.6M | 1.81% |
| 13 | SGEN P SEAGEN INC | $47.4M | 1.49% |
| 14 | LSI LIFE STORAGE INC | $45.5M | 1.43% |
| 15 | DICE DICE THERAPEUTICS INC | $45.5M | 1.43% |
| 16 | NUVA NUVASIVE INC | $44.8M | 1.41% |
| 17 | PDCE PDC ENERGY INC | $42.8M | 1.34% |
| 18 | SCRM SCREAMING EAGLE ACQUISITN CO | $38.4M | 1.21% |
| 19 | EOCW ELLIOTT OPPORTUNITY II CORP | $35.9M | 1.13% |
| 20 | ARNC ARCONIC CORPORATION | $31.7M | 1.0% |
Values as reported on the Q2 2023 Form 13F. Every position is in the holdings table below.