1y return−1.2%S&P 500 +20.9%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since September 30, 2023: $83 against $175 in the S&P 500.2
Westchester Capital Management, LLCS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| Electronic Arts IncCUSIP 285512109 | $169.4M | 8.5% | +13.9% |
| NSCNorfolk Southn Corp | $162.2M | 8.2% | +2.8% |
| Warner Bros Discovery IncCUSIP 934423104 | $152.4M | 7.7% | +9.2% |
| Chart Inds IncCUSIP 16115Q308 | $128.2M | 6.4% | +23.7% |
| Webster Finl CorpCUSIP 947890109 | $106.8M | 5.4% | −23.7% |
| UNFUnifirst Corp Mass | $76.0M | 3.8% | +11.1% |
| Digitalbridge Group IncCUSIP 25401T603 | $58.3M | 2.9% | +25.8% |
| PENPenumbra Inc | $49.7M | 2.5% | +105.5% |
| Qorvo IncCUSIP 74736K101 | $49.7M | 2.5% | +101.8% |
| ROKURoku Inc | $43.4M | 2.2% | New |
| CZRCaesars Entertainment Inc Ne | $41.6M | 2.1% | +532.5% |
| Agriculture & Nat Sol Acq CoCUSIP G0131Y100 | $23.2M | 1.2% | |
| KVUEKenvue Inc | $19.5M | 1.0% | +208.7% |
| OGNOrganon & Co | $19.3M | 1.0% | New |
| Select Med Hldgs CorpCUSIP 81619Q105 | $16.2M | 0.8% | New |
| Topbuild CorCUSIP 89055F103 | $15.9M | 0.8% | New |
| K&f Growth Acquisition CorpCUSIP G52258111 | $15.6M | 0.8% | |
| AESAes Corp | $14.9M | 0.7% | New |
| Globa Terra Acquisition CorCUSIP G3933N116 | $14.6M | 0.7% | |
| Gigcapital8 CorpCUSIP G3864J100 | $13.4M | 0.7% | |
| Oyster Enterprises II AcquisCUSIP G6861F104 | $13.4M | 0.7% | |
| Kochav Defense Acqui CoCUSIP G5304D106 | $13.3M | 0.7% | |
| Soulpower Acquisition CorpCUSIP G82745103 | $13.2M | 0.7% | |
| Siddhi Acquisition CorpCUSIP G8118C124 | $13.0M | 0.7% | |
| Pioneer Acquisition I CorpCUSIP G7117W107 | $12.9M | 0.6% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| Warner Bros Discovery IncCUSIP 934423104 | September 30, 2025 | +36.5% | $152.4M |
| Qorvo IncCUSIP 74736K101 | March 31, 2026 | +20.5% | $49.7M |
| CZRCaesars Entertainment Inc Ne | March 31, 2026 | +14.2% | $41.6M |
| Agriculture & Nat Sol Acq CoCUSIP G0131Y100 | March 31, 2024 | +12.5% | $23.2M |
| KVUEKenvue Inc | December 31, 2025 | +10.8% | $19.5M |
| Webster Finl CorpCUSIP 947890109 | March 31, 2026 | +10.1% | $106.8M |
| Launch Two Acquisition Corp.CUSIP G5S87A105 | December 31, 2024 | +7.7% | $10.2M |
| Andretti Acquisition Corp IICUSIP G26745102 | December 31, 2024 | +7.6% | $11.9M |
| Aldel Finl II IncCUSIP G01558108 | December 31, 2024 | +7.6% | $12.4M |
| Newbury Str II Acquisition CCUSIP G6439S109 | December 31, 2024 | +7.5% | $9.5M |
Sold off last quarter
- Clearwater Analytics Hldgs ICUSIP 185123106 was $61.9M
- CTRACoterra Energy Inc was $55.8M
- Sealed Air Corp NewCUSIP 81211K100 was $39.8M
- Proassurance CorpCUSIP 74267C106 was $36.0M
- Hologic IncCUSIP 436440101 was $34.4M
- Masimo CorpCUSIP 574795100 was $24.6M
- Haymaker Acquisition Corp IvCUSIP G4375F108 was $22.2M
- Air Lease CorpCUSIP 00912X302 was $21.7M
- Onestream IncCUSIP 68278B107 was $16.3M
- Voyager Acquisition CorpCUSIP G93A7H104 was $10.3M
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | −0.3% | +14.8% |
| March 31, 2026 | −1.9% | −4.6% |
| December 31, 2025 | +1.5% | +2.4% |
| September 30, 2025 | −0.4% | +7.8% |
| June 30, 2025 | −3.1% | +10.5% |
| March 31, 2025 | −0.1% | −4.6% |
| December 31, 2024 | −0.2% | +2.1% |
| September 30, 2024 | +0.9% | +5.4% |
| June 30, 2024 | −10.2% | +4.0% |
| March 31, 2024 | +2.9% | +10.0% |
| December 31, 2023 | −6.8% | +11.2% |
| June 30, 2023 | −1.3% | +8.3% |
| September 30, 2022 | −1.7% | −5.3% |
| June 30, 2022 | −4.2% | −16.5% |
| March 31, 2022 | −0.2% | −4.9% |
| December 31, 2021 | +5.6% | +10.7% |
| September 30, 2021 | −0.8% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Westchester Capital Management, LLC Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1512805&type=13F-HR&dateb=&owner=include&count=40CIK 1512805
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1512805/000151280526000008/Filed August 14, 2026 · accession 0001512805-26-000008