Westchester Capital Management Q3 2022 vs. Q4 2022 13F Holdings Comparison: Which Stocks Saw Significant Changes?

In the world of investments, it's essential to keep track of changes and movements in funds' 13F holdings. These quarterly filings to the Securities and Exchange Commission (SEC) show the stocks held by institutional investment managers with over $100 million in assets under management. Today, we'll be taking a closer look at Westchester Capital Management, Inc.'s Q3 2022 vs. Q4 2022 13F holdings comparison.

Westchester Capital Management, Inc. (WCM) is a New York-based investment firm that manages more than $3 billion in assets. According to the 13F filings, the company held positions in 43 stocks in Q3 2022, with a total value of over $570 million. However, WCM reduced its holdings in some stocks and exited positions in others, leaving the company with only 39 holdings in Q4 2022.

Let's dive deeper into the changes in WCM's portfolio to see which stocks saw significant movements.

Stocks That WCM Reduced Its Holdings In

Some of the biggest positions that WCM reduced its holdings in include Apple (AAPL), Waste Management (WM), and Procter & Gamble (PG).

WCM held 193,806 AAPL shares worth $26.78 million in Q3 2022, but it reduced its holdings to 191,871 shares worth $24.93 million in Q4 2022. WM, on the other hand, held 100,311 shares worth $16.07 million in Q3 2022 but reduced its holdings to 97,415 shares worth $15.28 million in Q4 2022. In the case of PG, WCM held 1,645 shares worth $208,000 in Q3 2022, but it reduced its holdings to only 1,570 shares worth $237,000 in Q4 2022.

Stocks That WCM Exited Its Positions In

WCM also completely exited its positions in several stocks, including Embecta Corporation (EMBC), Warner Bros Discovery Inc. (WBD), and Zimmer Biomet Holdings, Inc. (ZBH).

In Q3 2022, WCM held 58 shares of EMBC and 37,125 shares of WBD, but it completely sold all its shares in these companies in Q4 2022. In the case of ZBH, WCM held 100 shares worth $10,000 in Q3 2022, but it completely sold all its shares in Q4 2022.

Stocks That WCM Increased Its Holdings In

Despite reducing or exiting some positions, WCM also increased its holdings in some stocks, such as Microchip Technology, Inc. (MCHP) and Becton Dickinson & Company (BDX).

WCM held 217,384 shares of MCHP worth $132.67 million in Q3 2022, but it increased its holdings to 209,469 shares worth $147.15 million in Q4 2022. Similarly, BDX's holdings increased from 45,099 shares worth $10.05 million in Q3 2022 to 44,864 shares worth $11.41 million in Q4 2022.

Conclusion

In conclusion, Westchester Capital Management, Inc. made significant changes to its 13F holdings in Q4 2022, reducing its holdings in some major stocks and exiting positions in some smaller companies. However, the firm also increased its holdings in some tech and healthcare companies.

As an investor, it's important to always keep track of changes in the holdings of institutional investment managers like WCM. Understanding why institutional investors are buying, selling, or holding certain stocks is an essential part of conducting due diligence when building a portfolio.