Westchester Capital Management, Inc.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 7, 2025), Westchester Capital Management, Inc. reported 43 stock positions worth $465.2 million. Its top holding was Apple (AAPL) at 8.5% of the portfolio, followed by Microsoft (MSFT, 7.9%) and Caterpillar (CAT, 6.3%). Compared with Q2 2025, it opened 4 new positions, added to 2 and reduced 28. The biggest buy was a new position in iShares Core S&P 500 ETF (IVV) and the biggest sale Waste Management (WM, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- OMAHA, NE
- CIK
- 0001390063
- Portfolio Value
- $465.2M (Q3 2025)
- SEC Filing
- 0001104659-25-108451 ↗ filed Nov 7, 2025
Holdings Value
Holdings 43 stocks · $465.2M
| AAPL Apple Inc. | 8.54% | 156,096 | $39.7M | Reduce -1.3% |
| MSFT Microsoft Corp. | 7.94% | 71,323 | $36.9M | Reduce -1.3% |
| CAT Caterpillar Inc. | 6.34% | 61,806 | $29.5M | Reduce -2.7% |
| BRK.B Berkshire Hathaway Inc. Class B | 6.17% | 57,106 | $28.7M | Reduce -0.7% |
| WMT Walmart Inc. | 5.73% | 258,618 | $26.7M | Reduce -1.9% |
| JPM JPMorgan Chase & Co. | 5.72% | 84,305 | $26.6M | Reduce -2.9% |
| GOOGL Alphabet Inc. Class A | 5.67% | 108,471 | $26.4M | Reduce -2.8% |
| ABBV Abbvie Inc. | 5.17% | 103,922 | $24.1M | Reduce -0.8% |
| WM Waste Management Inc. | 4.15% | 87,442 | $19.3M | Reduce -1.5% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 4.15% | 177,154 | $19.3M | Reduce -3.0% |
| CSCO Cisco Systems Inc. | 3.74% | 253,984 | $17.4M | Reduce -0.9% |
| LMT Lockheed Martin Corp. | 3.45% | 32,142 | $16.0M | Reduce -0.4% |
| MCD McDonald's Corp. | 3.36% | 51,371 | $15.6M | Reduce -0.9% |
| HD Home Depot Inc. | 3.34% | 38,298 | $15.5M | Reduce -0.9% |
| VLO Valero Energy Corp. | 3.13% | 85,421 | $14.5M | Reduce -0.7% |
| XOM Exxon Mobil Corp. | 2.94% | 121,339 | $13.7M | Reduce -1.8% |
| MCHP Microchip Technology Inc. | 2.71% | 196,219 | $12.6M | Add +3.1% |
| JNJ Johnson & Johnson | 2.45% | 61,435 | $11.4M | Reduce -1.1% |
| CRM Salesforce Inc. | 2.25% | 44,225 | $10.5M | Reduce -0.8% |
| MDT Medtronic PLC | 2.02% | 98,517 | $9.4M | Reduce -0.4% |
| BDX Becton Dickinson and Co. | 1.89% | 46,946 | $8.8M | Reduce -1.1% |
| AMZN Amazon.com Inc. | 1.85% | 39,180 | $8.6M | Reduce -2.0% |
| PFE Pfizer Inc. | 1.49% | 272,449 | $6.9M | Reduce -0.8% |
| INTC Intel Corp. | 1.39% | 192,918 | $6.5M | Reduce -3.5% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 1.12% | 45,493 | $5.2M | Reduce -2.6% |
| T AT&T Inc. | 0.73% | 120,338 | $3.4M | Reduce -2.1% |
| BA The Boeing Co. | 0.46% | 9,988 | $2.2M | Reduce -0.2% |
| NVDA Nvidia Corp. | 0.45% | 11,235 | $2.1M | No change |
| IVV iShares Core S&P 500 ETF | 0.42% | 2,896 | $1.9M | New |
| PEP Pepsico Inc. | 0.35% | 11,562 | $1.6M | Add +1.0% |
| LOW Lowe's Cos Inc. | 0.23% | 4,211 | $1.1M | Reduce -0.7% |
| CAG Conagra Brands Inc. | 0.22% | 55,591 | $1.0M | Reduce -4.4% |
| VOO Vanguard S&P 500 ETF | 0.08% | 576 | $353K | No change |
| VZ Verizon Communications Inc. | 0.07% | 6,911 | $304K | No change |
| ITOT iShares Core S&P Total U.S. | 0.06% | 1,912 | $278K | New |
| BND Vanguard Total Bond Market | 0.05% | 2,988 | $222K | New |
| AXP American Express Co. | 0.05% | 660 | $219K | No change |
| CVX Chevron Corp. | 0.03% | 932 | $145K | No change |
| VCSH Vanguard S/T Corp. Bond ETF | 0.03% | 1,715 | $137K | No change |
| VGSH Vanguard Short-Term Treasury | 0.03% | 2,295 | $135K | No change |
| GOOG Alphabet Inc. Class C | 0.03% | 540 | $132K | No change |
| KO The Coca-Cola Co. | 0.02% | 1,449 | $96K | No change |
| META Meta Platforms Inc. Class A | 0.01% | 35 | $26K | New |
Portfolio Sells Q2 2025 → Q3 2025
| WM Waste Management Inc. | Reduce -1.5% | 4.15% | −0.63 |
| CRM Salesforce Inc. | Reduce -0.8% | 2.25% | −0.61 |
| MSFT Microsoft Corp. | Reduce -1.3% | 7.94% | −0.51 |
| CSCO Cisco Systems Inc. | Reduce -0.9% | 3.74% | −0.45 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.7% | 6.17% | −0.40 |
| WMT Walmart Inc. | Reduce -1.9% | 5.73% | −0.34 |
| DIS The Walt Disney Co. | Reduce -2.6% | 1.12% | −0.24 |
| AMZN Amazon.com Inc. | Reduce -2.0% | 1.85% | −0.21 |
| MCD McDonald's Corp. | Reduce -0.9% | 3.36% | −0.21 |
| JPM JPMorgan Chase & Co. | Reduce -2.9% | 5.72% | −0.20 |
| XOM Exxon Mobil Corp. | Reduce -1.8% | 2.94% | −0.19 |
| T AT&T Inc. | Reduce -2.1% | 0.73% | −0.11 |
| PFE Pfizer Inc. | Reduce -0.8% | 1.49% | −0.07 |
| LMT Lockheed Martin Corp. | Reduce -0.4% | 3.45% | −0.07 |
| CAG Conagra Brands Inc. | Reduce -4.4% | 0.22% | −0.06 |
| BDX Becton Dickinson and Co. | Reduce -1.1% | 1.89% | −0.04 |
| BA The Boeing Co. | Reduce -0.2% | 0.46% | −0.03 |
| MDT Medtronic PLC | Reduce -0.4% | 2.02% | −0.01 |
| HD Home Depot Inc. | Reduce -0.9% | 3.34% | +0.00 |
| LOW Lowe's Cos Inc. | Reduce -0.7% | 0.23% | +0.01 |
| JNJ Johnson & Johnson | Reduce -1.1% | 2.45% | +0.22 |
| BNY Bank of New York Mellon Corp. | Reduce -3.0% | 4.15% | +0.23 |
| INTC Intel Corp. | Reduce -3.5% | 1.39% | +0.34 |
| VLO Valero Energy Corp. | Reduce -0.7% | 3.13% | +0.40 |
| CAT Caterpillar Inc. | Reduce -2.7% | 6.34% | +0.54 |
| ABBV Abbvie Inc. | Reduce -0.8% | 5.17% | +0.60 |
| AAPL Apple Inc. | Reduce -1.3% | 8.54% | +0.91 |
| GOOGL Alphabet Inc. Class A | Reduce -2.8% | 5.67% | +1.04 |
Portfolio Buys Q2 2025 → Q3 2025
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 46 | $555.4M | CAT, AAPL, GOOGL, BRK.B, CSCO |
| Q1 2026 | 45 | $496.5M | CAT, AAPL, WMT, GOOGL, BRK.B |
| Q4 2025 | 43 | $483.7M | AAPL, MSFT, CAT, GOOGL, BRK.B |
| Q3 2025 | 43 | $465.2M | AAPL, MSFT, CAT, BRK.B, WMT |
| Q2 2025 | 39 | $425.0M | MSFT, AAPL, BRK.B, WMT, JPM |
| Q1 2025 | 39 | $402.2M | AAPL, BRK.B, MSFT, WMT, ABBV |
| Q4 2024 | 41 | $397.6M | AAPL, MSFT, BRK.B, WMT, CAT |
| Q3 2024 | 41 | $411.7M | AAPL, MSFT, BRK.B, CAT, WMT |
| Q2 2024 | 41 | $396.1M | AAPL, MSFT, BRK.B, CAT, GOOGL |
| Q1 2024 | 41 | $398.4M | MSFT, AAPL, BRK.B, CAT, WM |