WESTCHESTER CAPITAL MANAGEMENT, LLC

PrivateCIK: 1512805

Location

VALHALLA, NY

301

Positions

$2.04B

Total AUM (reported)

117.46M

Total Shares

Allocation by class

COM$925.17M45.3%

COM SER A$153.94M7.5%

ORD SHS CL A$145.90M7.1%

USD CL A ORD SHS$124.56M6.1%

SHS CL A$113.07M5.5%

COM CL A$77.34M3.8%

ORD SHS$74.23M3.6%

Portfolio Concentration

Top 3$484.02M23.7%

4–10$512.16M25.1%

11–25$273.51M13.4%

Rest$773.28M37.9%

Top 3 weight

23.7%

Top 10 weight

48.8%

Voting Authority Distribution

Total shares with voting rights: 117.46M

Sole

Full voting authority

10.62M

% of voting shares9.0%

Shared

Joint voting authority

106.84M

% of voting shares91.0%

None

No voting authority

0.00

% of voting shares0.0%

Investment Discretion (by position count)

Sole2

Shared0

Other299

Dominant voting typeShared · 91.0% of voting shares

Institutional Holdings301

Rows:

ELECTRONIC ARTS INC

OTR

COM

Shares826.17K

TypeSH

Market value$169.40M

8.29%

Sole

56.05K

Shared

770.13K

None

0.00

NORFOLK SOUTHN CORP

OTR

COM

Shares515.73K

TypeSH

Market value$162.24M

7.94%

Sole

35.26K

Shared

480.47K

None

0.00

WARNER BROS DISCOVERY INC

OTR

COM SER A

Shares5.72M

TypeSH

Market value$152.38M

7.46%

Sole

532.31K

Shared

5.18M

None

0.00

CHART INDS INC

OTR

COM

Shares613.58K

TypeSH

Market value$128.20M

6.28%

Sole

41.48K

Shared

572.10K

None

0.00

WEBSTER FINL CORP

OTR

COM

Shares1.40M

TypeSH

Market value$106.82M

5.23%

Sole

17.26K

Shared

1.38M

None

0.00

UNIFIRST CORP MASS

OTR

COM

Shares287.25K

TypeSH

Market value$75.97M

3.72%

Sole

33.14K

Shared

254.11K

None

0.00

DIGITALBRIDGE GROUP INC

OTR

CL A NEW

Shares3.70M

TypeSH

Market value$58.34M

2.86%

Sole

320.32K

Shared

3.38M

None

0.00

PENUMBRA INC

OTR

COM

Shares157.47K

TypeSH

Market value$49.72M

2.43%

Sole

16.71K

Shared

140.76K

None

0.00

QORVO INC

OTR

COM

Shares532.55K

TypeSH

Market value$49.67M

2.43%

Sole

50.10K

Shared

482.45K

None

0.00

ROKU INC

OTR

COM CL A

Shares314.49K

TypeSH

Market value$43.44M

2.13%

Sole

32.21K

Shared

282.27K

None

0.00

CAESARS ENTERTAINMENT INC NE

OTR

COM

Shares1.38M

TypeSH

Market value$41.58M

2.04%

Sole

119.25K

Shared

1.26M

None

0.00

TOPBUILD COR

OTR

COM

Shares67K

TypeSH

Market value$28.55M

1.40%

Sole

14.76K

Shared

52.24K

None

0.00

AGRICULTURE & NAT SOL ACQ CO

OTR

SHS CL A

Shares2.04M

TypeSH

Market value$23.21M

1.14%

Sole

87.21K

Shared

1.96M

None

0.00

KENVUE INC

OTR

COM

Shares1.02M

TypeSH

Market value$19.55M

0.96%

Sole

91.65K

Shared

931.14K

None

0.00

ORGANON & CO

OTR

COMMON STOCK

Shares1.43M

TypeSH

Market value$19.32M

0.95%

Sole

180.47K

Shared

1.25M

None

0.00

SELECT MED HLDGS CORP

OTR

COM

Shares983.32K

TypeSH

Market value$16.23M

0.79%

Sole

96.64K

Shared

886.67K

None

0.00

K&F GROWTH ACQUISITION CORP

OTR

SHS CL A

Shares1.48M

TypeSH

Market value$15.59M

0.76%

Sole

57.31K

Shared

1.42M

None

0.00

AES CORP

OTR

COM

Shares1.01M

TypeSH

Market value$14.86M

0.73%

Sole

115.75K

Shared

898.12K

None

0.00

GLOBA TERRA ACQUISITION COR

OTR

CL A ORD SHS

Shares1.41M

TypeSH

Market value$14.58M

0.71%

Sole

125.29K

Shared

1.29M

None

0.00

APTIV PLC

OTR

COM SHS

Shares223.80K

TypeSH

Market value$13.74M

0.67%

Sole

115.40K

Shared

108.40K

None

0.00

GIGCAPITAL8 CORP

OTR

ORD CL A

Shares1.33M

TypeSH

Market value$13.38M

0.65%

Sole

122.94K

Shared

1.21M

None

0.00

OYSTER ENTERPRISES II ACQUIS

OTR

ORD SHS CL A

Shares1.30M

TypeSH

Market value$13.35M

0.65%

Sole

93.06K

Shared

1.20M

None

0.00

KOCHAV DEFENSE ACQUI CO

OTR

SHS CL A

Shares1.29M

TypeSH

Market value$13.34M

0.65%

Sole

73.15K

Shared

1.21M

None

0.00

SOULPOWER ACQUISITION CORP

OTR

USD CL A ORD SHS

Shares1.28M

TypeSH

Market value$13.24M

0.65%

Sole

83.70K

Shared

1.20M

None

0.00

SIDDHI ACQUISITION CORP

OTR

CL A SHS

Shares1.25M

TypeSH

Market value$12.99M

0.64%

Sole

127.99K

Shared

1.12M

None

0.00

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	Shared
ELECTRONIC ARTS INCOTR	COM	826.17K	SH	$169.40M 8.29%	56.05K	770.13K
NORFOLK SOUTHN CORPOTR	COM	515.73K	SH	$162.24M 7.94%	35.26K	480.47K
WARNER BROS DISCOVERY INCOTR	COM SER A	5.72M	SH	$152.38M 7.46%	532.31K	5.18M
CHART INDS INCOTR	COM	613.58K	SH	$128.20M 6.28%	41.48K	572.10K
WEBSTER FINL CORPOTR	COM	1.40M	SH	$106.82M 5.23%	17.26K	1.38M
UNIFIRST CORP MASSOTR	COM	287.25K	SH	$75.97M 3.72%	33.14K	254.11K
DIGITALBRIDGE GROUP INCOTR	CL A NEW	3.70M	SH	$58.34M 2.86%	320.32K	3.38M
PENUMBRA INCOTR	COM	157.47K	SH	$49.72M 2.43%	16.71K	140.76K
QORVO INCOTR	COM	532.55K	SH	$49.67M 2.43%	50.10K	482.45K
ROKU INCOTR	COM CL A	314.49K	SH	$43.44M 2.13%	32.21K	282.27K
CAESARS ENTERTAINMENT INC NEOTR	COM	1.38M	SH	$41.58M 2.04%	119.25K	1.26M
TOPBUILD COROTR	COM	67K	SH	$28.55M 1.40%	14.76K	52.24K
AGRICULTURE & NAT SOL ACQ COOTR	SHS CL A	2.04M	SH	$23.21M 1.14%	87.21K	1.96M
KENVUE INCOTR	COM	1.02M	SH	$19.55M 0.96%	91.65K	931.14K
ORGANON & COOTR	COMMON STOCK	1.43M	SH	$19.32M 0.95%	180.47K	1.25M
SELECT MED HLDGS CORPOTR	COM	983.32K	SH	$16.23M 0.79%	96.64K	886.67K
K&F GROWTH ACQUISITION CORPOTR	SHS CL A	1.48M	SH	$15.59M 0.76%	57.31K	1.42M
AES CORPOTR	COM	1.01M	SH	$14.86M 0.73%	115.75K	898.12K
GLOBA TERRA ACQUISITION COROTR	CL A ORD SHS	1.41M	SH	$14.58M 0.71%	125.29K	1.29M
APTIV PLCOTR	COM SHS	223.80K	SH	$13.74M 0.67%	115.40K	108.40K
GIGCAPITAL8 CORPOTR	ORD CL A	1.33M	SH	$13.38M 0.65%	122.94K	1.21M
OYSTER ENTERPRISES II ACQUISOTR	ORD SHS CL A	1.30M	SH	$13.35M 0.65%	93.06K	1.20M
KOCHAV DEFENSE ACQUI COOTR	SHS CL A	1.29M	SH	$13.34M 0.65%	73.15K	1.21M
SOULPOWER ACQUISITION CORPOTR	USD CL A ORD SHS	1.28M	SH	$13.24M 0.65%	83.70K	1.20M
SIDDHI ACQUISITION CORPOTR	CL A SHS	1.25M	SH	$12.99M 0.64%	127.99K	1.12M

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