WESTCHESTER CAPITAL MANAGEMENT, LLC

Filed: 8/14/2025ACC: 0001277372-25-000002

📋 What this filing means

WESTCHESTER CAPITAL MANAGEMENT, LLC filed this quarterly 13F‑HR report disclosing 205 equity positions with a total reported market value of $1.91B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

205

Positions

$1.91B

Total AUM (reported)

102.18M

Total Shares

Allocation by class

COM$875.19M45.8%

CL A$171.74M9.0%

TR UNIT$154.46M8.1%

SHS CL A$143.28M7.5%

ORD SHS CL A$109.79M5.7%

UNIT 99/99/9999$80.81M4.2%

COM SER A$72.66M3.8%

Portfolio Concentration

Top 3$504.94M26.4%

4–10$490.02M25.7%

11–25$328.78M17.2%

Rest$586.04M30.7%

Top 3 weight

26.4%

Top 10 weight

52.1%

Voting Authority Distribution

Total shares with voting rights: 102.18M

Sole

Full voting authority

7.70M

% of voting shares7.5%

Shared

Joint voting authority

94.48M

% of voting shares92.5%

None

No voting authority

0.00

% of voting shares0.0%

Investment Discretion (by position count)

Sole2

Shared0

Other203

Dominant voting typeShared · 92.5% of voting shares

Institutional Holdings205

Rows:

HESS CORP

OTR

COM

Shares1.55M

TypeSH

Market value$215.18M

11.27%

Sole

48.26K

Shared

1.50M

None

0.00

SPDR S&P 500 ETF TR

OTR

TR UNIT

Shares250K

TypeSH

Market value$154.46M

8.09%

Sole

12.60K

Shared

237.40K

None

0.00

KELLANOVA

OTR

COM

Shares1.70M

TypeSH

Market value$135.29M

7.08%

Sole

139.06K

Shared

1.56M

None

0.00

CHAMPIONX CORPORATION

OTR

COM

Shares3.86M

TypeSH

Market value$95.82M

5.02%

Sole

339.33K

Shared

3.52M

None

0.00

FRONTIER COMMUNICATIONS PARE

OTR

COM

Shares2.23M

TypeSH

Market value$81.17M

4.25%

Sole

160.21K

Shared

2.07M

None

0.00

MR COOPER GROUP INC

OTR

COM

Shares498.42K

TypeSH

Market value$74.37M

3.89%

Sole

51.49K

Shared

446.93K

None

0.00

LIBERTY BROADBAND CORP

OTR

COM SER A

Shares742.83K

TypeSH

Market value$72.66M

3.80%

Sole

76.82K

Shared

666.01K

None

0.00

AZEK CO INC

OTR

CL A

Shares1.30M

TypeSH

Market value$70.91M

3.71%

Sole

119.53K

Shared

1.19M

None

0.00

INTERPUBLIC GROUP COS INC

OTR

COM

Shares2.11M

TypeSH

Market value$51.72M

2.71%

Sole

230.16K

Shared

1.88M

None

0.00

ARES ACQUISITION CORP II

OTR

SHS CLASS A

Shares3.83M

TypeSH

Market value$43.36M

2.27%

Sole

104.49K

Shared

3.72M

None

0.00

PROASSURANCE CORP

OTR

COM

Shares1.79M

TypeSH

Market value$40.78M

2.14%

Sole

184.40K

Shared

1.60M

None

0.00

SKECHERS U S A INC

OTR

CL A

Shares539.28K

TypeSH

Market value$34.03M

1.78%

Sole

60.75K

Shared

478.53K

None

0.00

EVERI HLDGS INC

OTR

COM

Shares2.10M

TypeSH

Market value$29.84M

1.56%

Sole

239.13K

Shared

1.86M

None

0.00

JUNIPER NETWORKS INC

OTR

COM

Shares690.13K

TypeSH

Market value$27.56M

1.44%

Sole

68.51K

Shared

621.62K

None

0.00

AGRICULTURE & NAT SOL ACQ CO

OTR

SHS CL A

Shares2.46M

TypeSH

Market value$26.74M

1.40%

Sole

109.41K

Shared

2.36M

None

0.00

AA MISSION ACQUISITION CORP

OTR

ORD SHS CL A

Shares2.19M

TypeSH

Market value$22.82M

1.19%

Sole

0.00

Shared

2.19M

None

0.00

K&F GROWTH ACQUISITION CORP

OTR

SHS CL A

Shares1.89M

TypeSH

Market value$19.19M

1.00%

Sole

73.18K

Shared

1.81M

None

0.00

BLEICHROEDER ACQUISITION COR

OTR

SHS CL A

Shares1.76M

TypeSH

Market value$18.23M

0.95%

Sole

72.71K

Shared

1.69M

None

0.00

BOEING CO

OTR

COM

Shares86.30K

TypeSH

Market value$18.08M

0.95%

Sole

12.50K

Shared

73.80K

None

0.00

DRUGS MADE IN AMER ACQUTN CO

OTR

ORD SHS

Shares1.67M

TypeSH

Market value$17.02M

0.89%

Sole

25.07K

Shared

1.64M

None

0.00

NABORS ENERGY TRANSITION COR

OTR

CL A

Shares1.48M

TypeSH

Market value$16.48M

0.86%

Sole

72.81K

Shared

1.41M

None

0.00

CANTALOUPE INC

OTR

COM

Shares1.43M

TypeSH

Market value$15.73M

0.82%

Sole

136.55K

Shared

1.29M

None

0.00

AMEDISYS INC

OTR

COM

Shares154.58K

TypeSH

Market value$15.21M

0.80%

Sole

12.76K

Shared

141.83K

None

0.00

TITAN ACQUISITION CORP

OTR

UNIT 04/09/2030

Shares1.34M

TypeSH

Market value$13.69M

0.72%

Sole

92.52K

Shared

1.25M

None

0.00

NEW PROVIDENCE ACQUISITION C

OTR

UNIT 99/99/9999

Shares1.28M

TypeSH

Market value$13.38M

0.70%

Sole

114.27K

Shared

1.17M

None

0.00

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	Shared
HESS CORPOTR	COM	1.55M	SH	$215.18M 11.27%	48.26K	1.50M
SPDR S&P 500 ETF TROTR	TR UNIT	250K	SH	$154.46M 8.09%	12.60K	237.40K
KELLANOVAOTR	COM	1.70M	SH	$135.29M 7.08%	139.06K	1.56M
CHAMPIONX CORPORATIONOTR	COM	3.86M	SH	$95.82M 5.02%	339.33K	3.52M
FRONTIER COMMUNICATIONS PAREOTR	COM	2.23M	SH	$81.17M 4.25%	160.21K	2.07M
MR COOPER GROUP INCOTR	COM	498.42K	SH	$74.37M 3.89%	51.49K	446.93K
LIBERTY BROADBAND CORPOTR	COM SER A	742.83K	SH	$72.66M 3.80%	76.82K	666.01K
AZEK CO INCOTR	CL A	1.30M	SH	$70.91M 3.71%	119.53K	1.19M
INTERPUBLIC GROUP COS INCOTR	COM	2.11M	SH	$51.72M 2.71%	230.16K	1.88M
ARES ACQUISITION CORP IIOTR	SHS CLASS A	3.83M	SH	$43.36M 2.27%	104.49K	3.72M
PROASSURANCE CORPOTR	COM	1.79M	SH	$40.78M 2.14%	184.40K	1.60M
SKECHERS U S A INCOTR	CL A	539.28K	SH	$34.03M 1.78%	60.75K	478.53K
EVERI HLDGS INCOTR	COM	2.10M	SH	$29.84M 1.56%	239.13K	1.86M
JUNIPER NETWORKS INCOTR	COM	690.13K	SH	$27.56M 1.44%	68.51K	621.62K
AGRICULTURE & NAT SOL ACQ COOTR	SHS CL A	2.46M	SH	$26.74M 1.40%	109.41K	2.36M
AA MISSION ACQUISITION CORPOTR	ORD SHS CL A	2.19M	SH	$22.82M 1.19%	0.00	2.19M
K&F GROWTH ACQUISITION CORPOTR	SHS CL A	1.89M	SH	$19.19M 1.00%	73.18K	1.81M
BLEICHROEDER ACQUISITION COROTR	SHS CL A	1.76M	SH	$18.23M 0.95%	72.71K	1.69M
BOEING COOTR	COM	86.30K	SH	$18.08M 0.95%	12.50K	73.80K
DRUGS MADE IN AMER ACQUTN COOTR	ORD SHS	1.67M	SH	$17.02M 0.89%	25.07K	1.64M
NABORS ENERGY TRANSITION COROTR	CL A	1.48M	SH	$16.48M 0.86%	72.81K	1.41M
CANTALOUPE INCOTR	COM	1.43M	SH	$15.73M 0.82%	136.55K	1.29M
AMEDISYS INCOTR	COM	154.58K	SH	$15.21M 0.80%	12.76K	141.83K
TITAN ACQUISITION CORPOTR	UNIT 04/09/2030	1.34M	SH	$13.69M 0.72%	92.52K	1.25M
NEW PROVIDENCE ACQUISITION COTR	UNIT 99/99/9999	1.28M	SH	$13.38M 0.70%	114.27K	1.17M

Page 1 of 9

…