13F-HR 1 west_13f.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: September 30, 2009 Check here if Amendment [ ]; Amendment Number: __________ This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holding entries. Institutional Investment Manager Filing this Report: Name: WESTCHESTER CAPITAL MANAGEMENT, INC. Address: 100 SUMMIT LAKE DRIVE VALHALLA, NY 10595 Form 13F File Number: 28-04764 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: FREDERICK W. GREEN Title: PRESIDENT Phone: 914-741-5600 Signature, Place, and Date of Signing: /S/ FREDERICK W. GREEN VALHALLA, NEW YORK 11/16/09 ---------------------- ------------------ -------- [Signature] [City, State] [Date] Report Type (Check only one.): [x] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 1 Form 13F Information Table Entry Total: 102 Form 13F Information Table Value Total: $1,608,014,620 (actual) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. NO. FORM 13F FILE NUMBER NAME --- -------------------- ---- 1 28-11493 Green & Smith Investment Management L.L.C. 2 FORM 13F Westchester Capital Management, Inc. September 30, 2009
FAIR TITLE OF MARKET SHRS OR SH/ PUT/ INVESTMENT VOTING AUTHORITY NAME OF ISSUER CLASS CUSIP VALUE PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ---------------------------- ----- -------- -------- ------- --- ----- ------- -------- ---- ------------ Equities COMMON STOCK Adobe Systems Inc. COMMON STOCK 00724F101 1,486,800 45,000 SH (a) Sole Sole Affiliated Computer Services, Inc. COMMON STOCK 008190100 51,938,196 958,800 SH (a) Sole Sole Affiliated Computer Services, Inc. COMMON STOCK 008190100 2,340,144 43,200 SH (b) Shared 1 Sole BHP Billiton plc ADR COMMON STOCK 05545E209 12,379,648 224,676 SH (a) Sole Sole BHP Billiton plc ADR COMMON STOCK 05545E209 1,206,690 21,900 SH (b) Shared 1 Sole BJ Services Company COMMON STOCK 055482103 77,666,373 3,997,240 SH (a) Sole Sole BJ Services Company COMMON STOCK 055482103 3,929,912 202,260 SH (b) Shared 1 Sole BPW Acquisition Corp. COMMON STOCK 055637102 2,931,000 300,000 SH (a) Sole Sole CC Media Holdings, Inc. COMMON STOCK 12502P102 1,595 1,100 SH (a) Sole Sole CC Media Holdings, Inc. COMMON STOCK 12502P102 36,975 25,500 SH (b) Shared 1 Sole CF Industries Holdings Inc. COMMON STOCK 125269100 52,332,987 606,900 SH (a) Sole Sole CF Industries Holdings Inc. COMMON STOCK 125269100 2,457,555 28,500 SH (b) Shared 1 Sole Cadbury plc ADR COMMON STOCK 12721E102 30,405,630 593,744 SH (a) Sole Sole Cadbury plc ADR COMMON STOCK 12721E102 1,683,426 32,873 SH (b) Shared 1 Sole Canadian Hydro Developers, Inc. COMMON STOCK 13605E101 18,195,399 3,782,700 SH (a) Sole Sole Canadian Hydro Developers, Inc. COMMON STOCK 13605E101 1,617,176 336,200 SH (b) Shared 1 Sole Centennial Communications Corp. COMMON STOCK 15133V208 23,905,215 2,995,641 SH (a) Sole Sole Centennial Communications Corp. COMMON STOCK 15133V208 1,476,300 185,000 SH (b) Shared 1 Sole Chipotle Mexican Grill Class B COMMON STOCK 169656204 50,438,394 606,085 SH (a) Sole Sole Chipotle Mexican Grill Class B COMMON STOCK 169656204 2,349,883 28,237 SH (b) Shared 1 Sole Citigroup Inc. COMMON STOCK 172967101 295 61 SH (a) Sole Sole Citigroup Inc. COMMON STOCK 172967101 140 29 SH (b) Shared 1 Sole Comcast Corporation Special Class A COMMON STOCK 20030N200 15,189,168 944,600 SH (a) Sole Sole Comcast Corporation Special Class A COMMON STOCK 20030N200 996,960 62,000 SH (b) Shared 1 Sole EnCana Corporation COMMON STOCK 292505104 30,659,408 532,189 SH (a) Sole Sole EnCana Corporation COMMON STOCK 292505104 1,371,118 23,800 SH (b) Shared 1 Sole Huntsman Corporation COMMON STOCK 447011107 8,562,106 939,858 SH (a) Sole Sole Huntsman Corporation COMMON STOCK 447011107 494,673 54,300 SH (b) Shared 1 Sole Liberty Acquisition Holdings Corp. COMMON STOCK 53015Y107 12,069,750 1,270,500 SH (a) Sole Sole Liberty Acquisition Holdings Corp. COMMON STOCK 53015Y107 1,548,500 163,000 SH (b) Shared 1 Sole Liberty Media Corporation Series A COMMON STOCK 53071M500 102,607,002 3,298,200 SH (a) Sole Sole Liberty Media Corporation Series A COMMON STOCK 53071M500 5,447,361 175,100 SH (b) Shared 1 Sole Marvel Entertainment, Inc. COMMON STOCK 57383T103 87,291,107 1,759,192 SH (a) Sole Sole Marvel Entertainment, Inc. COMMON STOCK 57383T103 3,811,213 76,808 SH (b) Shared 1 Sole Metavante Technologies Inc. COMMON STOCK 591407101 73,014,848 2,117,600 SH (a) Sole Sole Metavante Technologies Inc. COMMON STOCK 591407101 3,244,568 94,100 SH (b) Shared 1 Sole The Mosaic Company COMMON STOCK 61945A107 38,701,157 805,100 SH (a) Sole Sole The Mosaic Company COMMON STOCK 61945A107 2,158,343 44,900 SH (b) Shared 1 Sole Moto Goldmines Ltd. COMMON STOCK 61981U108 73,052 15,070 SH (a) Sole Sole Moto Goldmines Ltd. COMMON STOCK 61981U108 884,333 182,430 SH (b) Shared 1 Sole NATCO Group Inc. COMMON STOCK 63227W203 42,576,327 961,525 SH (a) Sole Sole NATCO Group Inc. COMMON STOCK 63227W203 2,271,564 51,300 SH (b) Shared 1 Sole Pepsi Bottling Group Inc. COMMON STOCK 713409100 104,611,952 2,870,800 SH (a) Sole Sole Pepsi Bottling Group Inc. COMMON STOCK 713409100 4,861,096 133,400 SH (b) Shared 1 Sole PepsiAmericas Inc. COMMON STOCK 71343P200 5,469,240 191,500 SH (a) Sole Sole PepsiAmericas Inc. COMMON STOCK 71343P200 242,760 8,500 SH (b) Shared 1 Sole Perot Systems Corp. COMMON STOCK 714265105 75,372,660 2,537,800 SH (a) Sole Sole Perot Systems Corp. COMMON STOCK 714265105 3,335,310 112,300 SH (b) Shared 1 Sole SPSS Inc. COMMON STOCK 78462K102 19,742,538 395,246 SH (a) Sole Sole SPSS Inc. COMMON STOCK 78462K102 836,213 16,741 SH (b) Shared 1 Sole Sapphire Industrials Corp. COMMON STOCK 80306T109 25,386,272 2,559,100 SH (a) Sole Sole Sapphire Industrials Corp. COMMON STOCK 80306T109 1,764,768 177,900 SH (b) Shared 1 Sole Schering Plough Corp. COMMON STOCK 806605101 147,904,598 5,235,561 SH (a) Sole Sole Sepracor Inc. COMMON STOCK 817315104 45,628,250 1,992,500 SH (a) Sole Sole Sepracor Inc. COMMON STOCK 817315104 2,136,570 93,300 SH (b) Shared 1 Sole Sirius Satellite Radio Inc. COMMON STOCK 82967N108 7,997 12,593 SH (b) Shared 1 Sole Sun Microsystems, Inc. COMMON STOCK 866810203 100,139,985 11,016,500 SH (a) Sole Sole Sun Microsystems, Inc. COMMON STOCK 866810203 4,851,106 533,675 SH (b) Shared 1 Sole Terra Industries Inc. COMMON STOCK 880915103 28,918,247 834,100 SH (a) Sole Sole Terra Industries Inc. COMMON STOCK 880915103 1,244,653 35,900 SH (b) Shared 1 Sole Thomson Reuters Corporation COMMON STOCK 884903105 72,175 2,150 SH (a) Sole Sole Triplecrown Acquisition Corp. COMMON STOCK 89677G109 6,623,160 682,800 SH (a) Sole Sole Triplecrown Acquisition Corp. COMMON STOCK 89677G109 951,570 98,100 SH (b) Shared 1 Sole United Refining Energy Corp. COMMON STOCK 911360105 57,710 5,800 SH (a) Sole Sole United Refining Energy Corp. COMMON STOCK 911360105 439,790 44,200 SH (b) Shared 1 Sole Varian, Inc. COMMON STOCK 922206107 42,243,623 827,333 SH (a) Sole Sole Varian, Inc. COMMON STOCK 922206107 2,061,599 40,376 SH (b) Shared 1 Sole Wyeth COMMON STOCK 983024100 167,626,747 3,450,530 SH (a) Sole Sole Wyeth COMMON STOCK 983024100 7,968,869 164,036 SH (b) Shared 1 Sole Yahoo! Inc. COMMON STOCK 984332106 890 50 SH (a) Sole Sole Warner Chilcott plc ADR COMMON STOCK G94368100 18,911,014 874,700 SH (a) Sole Sole Warner Chilcott plc ADR COMMON STOCK G94368100 609,684 28,200 SH (b) Shared 1 Sole PREFERRED STOCK Citigroup Inc. Trust Pfd. 7.25% PREFERRED STOCK 17311U200 48,120 2,400 SH (a) Sole Sole Bank of America (CFC) V 7% Series B Pfd. PREFERRED STOCK 222388209 623,271 30,300 SH (a) Sole Sole Fifth Third Capital Trust VII 8.875% Pfd. PREFERRED STOCK 316780204 9,600 400 SH (a) Sole Sole JPM Chase Capital XXVI 8.0% preferred PREFERRED STOCK 48124G104 390,195 14,500 SH (a) Sole Sole KeyCorp Capital Pfd. Series F PREFERRED STOCK 49327R103 1,965,292 87,658 SH (a) Sole Sole Fixed Income CORPORATE BONDS HSBC Finance Corp. floating-rate note CORPORATE BONDS 40429CFT4 1,833,031 1,833,000 PRN (a) Sole Sole 1.192% Due 10-21-09 HSBC Finance Corp. floating-rate note CORPORATE BONDS 40429CFT4 700,012 700,000 PRN (b) Shared 1 Sole 1.192% Due 10-21-09 Textron Financial Corp. senior unsecured CORPORATE BONDS 883199AQ4 1,800,212 1,800,000 PRN (a) Sole Sole 6.000% Due 11-20-09 Options PUTS Time Warner PUTS 887317105 376,845 4,074 PUT (a) Sole Sole Time Warner PUTS 887317105 19,332 209 PUT (b) Shared 1 Sole The Blackstone Group PUTS 09253U108 573,090 5,458 PUT (a) Sole Sole The Blackstone Group PUTS 09253U108 108,780 1,036 PUT (b) Shared 1 Sole The Walt Disney Co. PUTS 254687106 207,670 6,807 PUT (a) Sole Sole The Walt Disney Co. PUTS 254687106 7,824 256 PUT (b) Shared 1 Sole DirecTV Group PUTS 25459L106 204,800 640 PUT (a) Sole Sole DirecTV Group PUTS 25459L106 11,520 36 PUT (b) Shared 1 Sole iShares MSCI Brazil Index Fund PUTS 464286400 342,720 504 PUT (a) Sole Sole iShares MSCI Brazil Index Fund PUTS 464286400 31,280 46 PUT (b) Shared 1 Sole Market Vectors Global Alternative Energy ETF PUTS 57060U407 524,600 2,440 PUT (a) Sole Sole Market Vectors Global Alternative Energy ETF PUTS 57060U407 77,400 360 PUT (b) Shared 1 Sole SPDR Trust Series 1 PUTS 78462F103 836,570 3,230 PUT (a) Sole Sole SPDR Trust Series 1 PUTS 78462F103 44,030 170 PUT (b) Shared 1 Sole Materials Select Sector SPDR Trust PUTS 81369Y100 454,480 988 PUT (a) Sole Sole Materials Select Sector SPDR Trust PUTS 81369Y100 218,040 474 PUT (b) Shared 1 Sole Technology Select Sector SPDR PUTS 81369Y803 250,305 1,517 PUT (a) Sole Sole Technology Select Sector SPDR PUTS 81369Y803 12,045 73 PUT (b) Shared 1 Sole Health Care Select Sector SPDR PUTS 81369Y209 238,140 1,701 PUT (a) Sole Sole Health Care Select Sector SPDR PUTS 81369Y209 11,480 82 PUT (b) Shared 1 Sole OTHER ASSETS Powershares S&P 500 BuyWrite Portfolio OTHER ASSETS 73936G308 1,343,807 66,956 SH (a) Sole Sole SPDR Trust Series 1 OTHER ASSETS 78462F103 2,976,792 28,200 SH (a) Sole Sole TOTAL 1,608,014,620