Westchester Capital Management portfolio
Investment firmPortfolio as of Jun 30, 2026 (Q2 2026) · filed with the SEC on Aug 14, 2026 · data updated on Nov 5, 2026 · Q2 2026 13F (filing) ↗ · all its 13F filings ↗
A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.
Westchester Capital Management reported a $2.0 bn portfolio of 239 companies (300 positions, counting each share class separately) to the SEC as of the end of Q2 2026. Its largest positions are EA, NSC, WBD. During the quarter it opened Roku and Organon.
Sections with a free account
What it reported after the quarter end (Q2 2026)
The 13F shows the portfolio as of Jun 30, 2026. Since then Westchester Capital Management has filed these own trades with the SEC (Form 4, when it owns more than 10% of a company or holds a role in it) and stakes above 5% (13D and 13G). It is not everything it did: only what it must report before the next 13F.
Stake reported in the company · event of Jun 30, 2026 · filed Aug 14, 2026 · filing ↗
Stake reported in the company · event of Jun 30, 2026 · filed Aug 14, 2026 · filing ↗
Stake reported in the company · event of Jun 30, 2026 · filed Aug 14, 2026 · filing ↗
Stake reported in the company · event of Jun 30, 2026 · filed Aug 14, 2026 · filing ↗
What changed this quarter
97 positions with a change (14 new, 28 added to, 21 trimmed, 34 sold); also, 19 entered through an IPO, 22 exited through an acquisition or merger, 18 entered through a spin-off. 12 are listed here: those of 0.5 points of the portfolio or more (up to 12).
- Roku+2.1 ppof portfolioNew— → 2.2%
- Caesars Entertainment+533%more sharesIncreased0.3% → 2.1%
- Webster Financial−24%fewer sharesReduced6.2% → 5.4%
- Penumbra+105%more sharesIncreased1.2% → 2.5%
- Qorvo+102%more sharesIncreased1.0% → 2.5%
- Chart Industries+24%more sharesIncreased5.0% → 6.4%
- Electronic Arts+14%more sharesIncreased7.2% → 8.5%
- Organon+0.9 ppof portfolioNew— → 1.0%
- Select Medical Holdings+0.8 ppof portfolioNew— → 0.8%
- TopBuild+0.8 ppof portfolioNew— → 0.8%
- AES+0.7 ppof portfolioNew— → 0.7%
- Kenvue+209%more sharesIncreased0.3% → 1.0%
The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight: what it bought or sold, excluding price effects.
Top holdings
- Electronic ArtsEA8.5%
- Norfolk SouthernNSC8.2%
- Warner Bros. DiscoveryWBD7.7%
- Chart Industries6.4%
- Webster FinancialWBS5.4%
- UnifirstUNF3.8%
- DigitalBridge GroupDBRG2.9%
- PenumbraPEN2.5%
- QorvoQRVO2.5%
- RokuROKU2.2%
- Caesars EntertainmentCZR2.1%
- Agriculture & Natural Solutions Acquisition1.2%
- KenvueKVUE1.0%
- OrganonOGN1.0%
- Select Medical Holdings0.8%
“Since”: first quarter of the current run, unbroken until today. In the details, prices are the quarter-end prices of the quarters in which it added shares, per the 13F. The manager may have bought at any price within each quarter; the SEC only publishes the value at quarter end.
Portfolio by sector
- ● SPAC / vehículos 36%
- ● Communication Services 19%
- ● Industrials 17%
- ● Financials 9%
- ● Consumer Discretionary 6%
- ● Health Care 5%
- ● Information Technology 3%
- ● No sector 2%
- ● Consumer Staples 1%
- ● Utilities 1%
How its portfolio changed (8 quarters)
Q2 2026: 300
Q2 2026: 50%
Q2 2026: 16.0%
Traded turnover: the weight it bought plus the weight it sold in the quarter, divided by two, excluding price moves. The plain “turnover” in the header does include that effect. With a free account: the full history and sectors over time.
Declared options (10)
Besides stocks, Westchester Capital Management declared 10 puts (they gain if the stock falls) with a notional of $53.3M. The 13F reports the value of the underlying shares, not the premium paid, so these figures look large and are not added to the portfolio. Nor does it say whether the option is bought or written, or its strike or expiry: it may be a hedge.
- PUTTopBuildBLDnew this quarter$12.6M
- PUTAptivAPTV$6.9M
- PUTQXOQXOnew this quarter$6.2M
- PUTBarrick MiningB$5.5M
- PUTHoneywell InternationalHONnew this quarter$5.0M
- PUTHoneywell AerospaceHONAnew this quarter$4.9M
- PUTL3harris TechnologiesLHX$4.7M
- PUTFedExFDX$3.5M
- PUTComcastCMCSAnew this quarter$3.2M
- PUTFedEx Freight HoldingFDXFnew this quarter$846K
Stakes above 5% (13D/13G)
Companies where this filer reported holding 5% or more of the shares. It is the figure from its latest filing on each one; history since December 2024.
How we classify it
Investment firm, per its Form ADV of Mar 30, 2026 (high confidence).
The data, as reported: WESTCHESTER CAPITAL MANAGEMENT, LLC (CRD 155686): Manages registered funds; 5.D assets by client type: registered funds 100% (of $2.9 bn)
The type comes from a rule applied to that data. If it looks wrong, tell us.
Not counted as a concentrated manager: its portfolio is not within 5 to 100 positions. Its portfolio is shown all the same, but it is left out of manager counts, the consensus and the ranking. How this is decided
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Same type of filer and a 13F portfolio value between a third and three times this one. It is not a comparison of what they hold.
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