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<PAGE> 1
INFORMATION REQUIRED OF INSTITUTIONAL INVESTMENT MANAGERS
PURSUANT TO SECTION 13(f) OF THE SECURITIES EXCHANGE ACT
OF 1934 AND RULES THEREUNDER
Securities and Exchange Commission
Washington, D.C. 20549
Report for the Period Ended September 30, 1999
- -------------------------------------------------------------------------------
If amended report check here: /____/
Name of Institutional Investment Manager:
Westchester Capital Management, Inc. 13F File No.: 28-4764
- -------------------------------------------------------------------------------
Business Address:
100 Summit Lake Drive Valhalla New York 10595
- -------------------------------------------------------------------------------
Street City State Zip
Name, Phone No. and Title of Person Duly Authorized to Submit This Report:
Frederick W. Green, (914) 741-5600, President
- -------------------------------------------------------------------------------
ATTENTION--Intentional misstatements or omissions of facts constitute Federal
Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff (a).
- -------------------------------------------------------------------------------
The institutional investment manager submitting this Form and its
attachments and the person by whom it is signed represent hereby that all
information contained therein is true, correct and complete. It is understood
that all required items, statements and schedules are considered integral parts
of this Form and that the submission of any amendment represents that all
unamended items, statements and schedules remain true, correct and complete as
previously submitted.
Pursuant to the requirements of the Securities Exchange Act of 1934,
the undersigned institutional investment manager has caused this report to be
signed on its behalf in the City of New York and State of New York as of the
10th day of November, 1999.
Westchester Capital Management, Inc.
--------------------------------------------
(Name of Institutional Investment
Manager)
/s/Frederick W. Green
--------------------------------------------
(Manual Signature of Person Duly
Authorized to Submit This Report)
<PAGE> 2
Name and 13F file numbers of ALL Institutional Investment Managers with respect
to which this schedule is filed (other than the one filing this report). (List
in alphabetical order.)
13F File Numbers will be assigned to Institutional Investment
Managers after they file their first report.
Name: 13F File No.
- --------------------------------------------------------------------------------
1.
------------------------------------------------------------------------------
2.
------------------------------------------------------------------------------
3.
------------------------------------------------------------------------------
4.
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<PAGE> 3
FORM 13F
WESTCHESTER CAPITAL MANAGEMENT, INC
September 30, 1999
<TABLE>
<CAPTION>
Item 1 Item 2 Item 3
Name of Issuer Title of Class CUSIP/SEDOL
- ---------------------------------------------------------------------------------------------------------------------------------
EQUITIES
COMMON STOCK
<S> <C> <C>
Abacus Direct Corporation COMMON STOCK 002553105
Abacus Direct Corporation COMMON STOCK 002553105
Albertson's, Inc. COMMON STOCK 013104104
AdForce, Inc. COMMON STOCK 006867105
AEGON N.V. ADR COMMON STOCK 007924103
AEGON N.V. ordinary COMMON STOCK 5462304
AFC Cable Systems, Inc. COMMON STOCK 000950105
AFC Cable Systems, Inc. COMMON STOCK 000950105
American Heritage Life Investment Corp. COMMON STOCK 026522102
American Heritage Life Investment Corp. COMMON STOCK 026522102
American International Group, Inc. COMMON STOCK 026874107
America Online, Inc. COMMON STOCK 02364J104
At Home Corporation COMMON STOCK 045919107
ALZA Corporation COMMON STOCK 022615108
ALZA Corporation COMMON STOCK 022615108
BCE Mobile Communications, Inc. COMMON STOCK 05534G108
BCE Mobile Communications, Inc. COMMON STOCK 05534G108
Baker Hughes, Inc. COMMON STOCK 057224107
BMC Software, Inc. COMMON STOCK 055921100
BP Amoco plc ADR COMMON STOCK 055622104
Berkshire Hathaway, Inc. Class B COMMON STOCK 084670207
Citigroup Inc. COMMON STOCK 172967101
The Chubb Corporation COMMON STOCK 171232101
Cadence Design Systems, Inc. COMMON STOCK 127387108
Corporate Express, Inc. COMMON STOCK 219888104
Corporate Express, Inc. COMMON STOCK 219888104
The Coleman Company, Inc. COMMON STOCK 193559101
The Coleman Company, Inc. COMMON STOCK 193559101
The Clorox Company COMMON STOCK 189054109
Centocor, Inc. COMMON STOCK 152342101
Centocor, Inc. COMMON STOCK 152342101
Cox Communications, Inc. COMMON STOCK 224044107
Cisco Systems, Inc. COMMON STOCK 17275R102
Case Corporation COMMON STOCK 14743R103
Case Corporation COMMON STOCK 14743R103
Cintas Corporation COMMON STOCK 172908105
Century Communications Corp. COMMON STOCK 156503104
Century Communications Corp. COMMON STOCK 156503104
Data General Corporation COMMON STOCK 237688106
Data General Corporation COMMON STOCK 237688106
</TABLE>
<PAGE> 4
<TABLE>
<S> <C> <C>
Danaher Corporation COMMON STOCK 235851102
EVEREN Capital Corporation COMMON STOCK 299761106
EVEREN Capital Corporation COMMON STOCK 299761106
Furon Company COMMON STOCK 361106107
Furon Company COMMON STOCK 361106107
First Liberty Financial Corp. COMMON STOCK 320691108
First Liberty Financial Corp. COMMON STOCK 320691108
Firstar Corporation COMMON STOCK 33763V109
Global Crossing Ltd. COMMON STOCK 2285065
Global Crossing Ltd. COMMON STOCK 2285065
General Dynamics Corporation COMMON STOCK 369550108
General Electric Company COMMON STOCK 369604103
General Instrument Corporation COMMON STOCK 370120107
General Instrument Corporation COMMON STOCK 370120107
B.F. Goodrich Company COMMON STOCK 382388106
The Guarantee Life Companies, Inc. COMMON STOCK 400740106
The Guarantee Life Companies, Inc. COMMON STOCK 400740106
Harrah's Entertainment, Inc. COMMON STOCK 413619107
Honeywell, Inc. COMMON STOCK 438506107
Honeywell, Inc. COMMON STOCK 438506107
Hambrecht & Quist Group COMMON STOCK 406545103
Hannaford Bros. Co. COMMON STOCK 410550107
Hannaford Bros. Co. COMMON STOCK 410550107
International Network Services COMMON STOCK 460053101
International Network Services COMMON STOCK 460053101
Intel Corporation COMMON STOCK 458140100
International Paper Company COMMON STOCK 460146103
Kimberly-Clark Corporation COMMON STOCK 494368103
Kerr-McGee Corporation COMMON STOCK 492386107
Knoll, Inc. COMMON STOCK 498904101
Knoll, Inc. COMMON STOCK 498904101
King World Productions, Inc. COMMON STOCK 495667107
King World Productions, Inc. COMMON STOCK 495667107
Lifeline Systems, Inc. COMMON STOCK 532192101
Lowe's Companies, Inc. COMMON STOCK 548661107
Lucent Technologies, Inc. COMMON STOCK 549463107
Life USA Holding, Inc. COMMON STOCK 531918209
Mattel, Inc. COMMON STOCK 577081102
McKesson HBOC, Inc. COMMON STOCK 58155Q103
Medtronic Inc. COMMON STOCK 585055106
MacMillan Bloedel Limited COMMON STOCK 554783209
MacMillan Bloedel Limited COMMON STOCK 554783209
Nalco Chemical Company COMMON STOCK 629853102
Nalco Chemical Company COMMON STOCK 629853102
Nielsen Media Research, Inc. COMMON STOCK 653929307
Nielsen Media Research, Inc. COMMON STOCK 653929307
Nortel Networks Corporation COMMON STOCK 665815106
Newell Rubbermaid Co. COMMON STOCK 651192106
Orion Capital Corporation COMMON STOCK 686268103
</TABLE>
<PAGE> 5
<TABLE>
<S> <C> <C>
Orion Capital Corporation COMMON STOCK 686268103
Omnipoint Corporation COMMON STOCK 68212D102
Omnipoint Corporation COMMON STOCK 68212D102
Outdoor Systems, Inc. COMMON STOCK 690057104
Outdoor Systems, Inc. COMMON STOCK 690057104
OEC Medical Systems, Inc. COMMON STOCK 670828102
OEC Medical Systems, Inc. COMMON STOCK 670828102
Prime Bancshares, Inc. COMMON STOCK 74157H108
Placer Dome Inc. COMMON STOCK 725906101
Pioneer Hi-Bred International, Inc. COMMON STOCK 723686101
Pioneer Hi-Bred International, Inc. COMMON STOCK 723686101
Premark International, Inc. COMMON STOCK 740459102
Premark International, Inc. COMMON STOCK 740459102
Poco Petroleums Ltd. COMMON STOCK 730361102
Poco Petroleums Ltd. COMMON STOCK 730361102
Qwest Communications Int'l, Inc. COMMON STOCK 749121109
Republic New York Corporation COMMON STOCK 760719104
Republic New York Corporation COMMON STOCK 760719104
Roberts Pharmaceutical Corporation COMMON STOCK 770491108
Roberts Pharmaceutical Corporation COMMON STOCK 770491108
SkyTel Communications, Inc. COMMON STOCK 83087Q104
SkyTel Communications, Inc. COMMON STOCK 83087Q104
Schlumberger Limited COMMON STOCK 806857108
Synopsys, Inc. COMMON STOCK 871607107
Smurfit-Stone Container Corp. COMMON STOCK 832727101
SunTrust Banks, Inc. COMMON STOCK 867914103
SUPERVALU, Inc. COMMON STOCK 868536103
Syratech Corporation COMMON STOCK 871824108
AT&T Corp. COMMON STOCK 001957109
Tyco International Ltd. COMMON STOCK 902124106
U.S. Foodservice, Inc. COMMON STOCK 90331R101
Union Carbide Corporation COMMON STOCK 905581104
Union Carbide Corporation COMMON STOCK 905581104
MediaOne Group, Inc. COMMON STOCK 58440J104
MediaOne Group, Inc. COMMON STOCK 58440J104
U.S. Bancorp COMMON STOCK 902973106
UST Corp. COMMON STOCK 902900109
UST Corp. COMMON STOCK 902900109
US WEST, Inc. COMMON STOCK 91273H101
US WEST, Inc. COMMON STOCK 91273H101
Unitrode Corporation COMMON STOCK 913283107
Unitrode Corporation COMMON STOCK 913283107
United Technologies Corporation COMMON STOCK 913017109
Vodafone AirTouch plc ADR COMMON STOCK 92857T107
Wachovia Corportion COMMON STOCK 929771103
Walden Residential Properties, Inc. COMMON STOCK 931210108
Walden Residential Properties, Inc. COMMON STOCK 931210108
Washington Mutual, Inc. COMMON STOCK 939322103
Williams Companies, Inc. COMMON STOCK 969457100
</TABLE>
<PAGE> 6
<TABLE>
<S> <C> <C>
Waste Management, Inc. COMMON STOCK 94106L109
World Color Press, Inc. COMMON STOCK 981443104
World Color Press, Inc. COMMON STOCK 981443104
Xomed Surgical Products COMMON STOCK 98412V107
Yahoo! Inc. COMMON STOCK 984332106
Ziff-Davis, Inc. COMMON STOCK 989511100
Ziff-Davis, Inc. COMMON STOCK 989511100
Ziff-Davis, Inc. ZDNet COMMON STOCK 989511209
Fixed Income
- -------------------------------------------------------------------
CORPORATE BONDS
Corporate Express Series B Callable CORPORATE BONDS 125184AB7
9.625% due 06-01-08
Corporate Express Series B Callable CORPORATE BONDS 125184AB7
9.625% due 06-01-08
MindSpring Convertible CORPORATE BONDS 602683AA2
5.000% due 04-15-06
MindSpring Convertible CORPORATE BONDS 602683AA2
5.000% due 04-15-06
GRAND TOTAL
</TABLE>
<PAGE> 7
<TABLE>
<CAPTION>
Item 5 Item 6 Item 8
Item 4 Shares or Investment Item 7 Voting
Fair Market Value Principal Amount Discretion Managers Authority
- ---------------------------------------------------------------------------------------------------------------
<S> <C> <C>
6,556,875 53,800 (b) Shared (a) Sole
21,401,250 175,600 (a) Sole (a) Sole
747,731 18,900 (b) Shared (a) Sole
2,233,000 88,000 (b) Shared (a) Sole
709,300 8,200 (b) Shared (a) Sole
1,719,006 19,900 (b) Shared (a) Sole
3,268,250 76,900 (b) Shared (a) Sole
6,081,750 143,100 (a) Sole (a) Sole
7,715,250 243,000 (b) Shared (a) Sole
25,174,575 792,900 (a) Sole (a) Sole
3,477,326 39,998 (b) Shared (a) Sole
3,307,200 31,800 (b) Shared (a) Sole
2,415,558 58,294 (b) Shared (a) Sole
8,845,062 206,600 (b) Shared (a) Sole
23,512,625 549,200 (a) Sole (a) Sole
7,965,281 200,700 (b) Shared (a) Sole
8,766,969 220,900 (a) Sole (a) Sole
1,276,000 44,000 (b) Shared (a) Sole
1,670,984 23,350 (b) Shared (a) Sole
3,440,728 31,050 (b) Shared (a) Sole
2,065,728 1,113 (b) Shared (a) Sole
3,821,400 86,850 (b) Shared (a) Sole
1,174,977 23,588 (b) Shared (a) Sole
935,450 70,600 (b) Shared (a) Sole
6,424,469 683,000 (b) Shared (a) Sole
16,385,687 1,742,000 (a) Sole (a) Sole
542,385 56,720 (b) Shared (a) Sole
833,850 87,200 (a) Sole (a) Sole
1,943,559 50,812 (b) Shared (a) Sole
6,968,937 119,000 (b) Shared (a) Sole
21,053,219 359,500 (a) Sole (a) Sole
442,550 10,600 (b) Shared (a) Sole
2,578,636 37,610 (b) Shared (a) Sole
4,981,250 100,000 (b) Shared (a) Sole
2,490,625 50,000 (a) Sole (a) Sole
1,327,028 22,954 (b) Shared (a) Sole
5,347,250 117,200 (b) Shared (a) Sole
15,590,062 341,700 (a) Sole (a) Sole
5,703,725 270,800 (b) Shared (a) Sole
3,159,375 150,000 (a) Sole (a) Sole
</TABLE>
<PAGE> 8
<TABLE>
<S> <C> <C>
1,844,062 35,000 (b) Shared (a) Sole
3,882,200 131,600 (b) Shared (a) Sole
10,440,050 353,900 (a) Sole (a) Sole
4,124,662 165,400 (b) Shared (a) Sole
3,418,931 137,100 (a) Sole (a) Sole
3,369,519 119,275 (b) Shared (a) Sole
3,141,400 111,200 (a) Sole (a) Sole
2,305,251 89,961 (b) Shared (a) Sole
9,349,862 352,825 (b) Shared (a) Sole
20,238,765 763,727 (a) Sole (a) Sole
2,435,062 39,000 (b) Shared (a) Sole
2,499,535 21,082 (b) Shared (a) Sole
8,975,312 186,500 (b) Shared (a) Sole
16,530,937 343,500 (a) Sole (a) Sole
232,232 8,008 (b) Shared (a) Sole
4,743,300 155,200 (b) Shared (a) Sole
4,125,937 135,000 (a) Sole (a) Sole
1,540,125 55,500 (b) Shared (a) Sole
6,678,750 60,000 (b) Shared (a) Sole
7,480,200 67,200 (a) Sole (a) Sole
5,016,094 102,500 (b) Shared (a) Sole
8,529,981 121,100 (b) Shared (a) Sole
25,216,625 358,000 (a) Sole (a) Sole
10,684,687 196,500 (b) Shared (a) Sole
25,822,687 474,900 (a) Sole (a) Sole
1,246,221 16,770 (b) Shared (a) Sole
581,556 12,100 (b) Shared (a) Sole
1,409,887 26,855 (b) Shared (a) Sole
1,742,728 31,650 (b) Shared (a) Sole
3,628,125 135,000 (b) Shared (a) Sole
13,786,875 513,000 (a) Sole (a) Sole
6,311,250 168,300 (b) Shared (a) Sole
20,096,250 535,900 (a) Sole (a) Sole
413,250 29,000 (b) Shared (a) Sole
624,000 12,800 (b) Shared (a) Sole
8,804,673 135,717 (b) Shared (a) Sole
4,384,875 212,600 (b) Shared (a) Sole
1,322,400 69,600 (b) Shared (a) Sole
536,500 18,500 (b) Shared (a) Sole
2,899,214 81,668 (b) Shared (a) Sole
5,898,500 376,000 (b) Shared (a) Sole
17,420,969 1,110,500 (a) Sole (a) Sole
6,958,900 137,800 (b) Shared (a) Sole
24,921,750 493,500 (a) Sole (a) Sole
7,325,937 197,000 (b) Shared (a) Sole
22,111,687 594,600 (a) Sole (a) Sole
612,000 12,000 (b) Shared (a) Sole
1,640,344 57,430 (b) Shared (a) Sole
6,869,375 145,000 (b) Shared (a) Sole
</TABLE>
<PAGE> 9
<TABLE>
<S> <C> <C> <C>
1,844,062 35,000 (b) Shared (a) Sole
3,882,200 131,600 (b) Shared (a) Sole
10,440,050 353,900 (a) Sole (a) Sole
4,124,662 165,400 (b) Shared (a) Sole
3,418,931 137,100 (a) Sole (a) Sole
3,369,519 119,275 (b) Shared (a) Sole
3,141,400 111,200 (a) Sole (a) Sole
2,305,251 89,961 (b) Shared (a) Sole
9,349,862 352,825 (b) Shared (a) Sole
20,238,765 763,727 (a) Sole (a) Sole
2,435,062 39,000 (b) Shared (a) Sole
2,499,535 21,082 (b) Shared (a) Sole
8,975,312 186,500 (b) Shared (a) Sole
16,530,937 343,500 (a) Sole (a) Sole
232,232 8,008 (b) Shared (a) Sole
4,743,300 155,200 (b) Shared (a) Sole
4,125,937 135,000 (a) Sole (a) Sole
1,540,125 55,500 (b) Shared (a) Sole
6,678,750 60,000 (b) Shared (a) Sole
7,480,200 67,200 (a) Sole (a) Sole
5,016,094 102,500 (b) Shared (a) Sole
8,529,981 121,100 (b) Shared (a) Sole
25,216,625 358,000 (a) Sole (a) Sole
10,684,687 196,500 (b) Shared (a) Sole
25,822,687 474,900 (a) Sole (a) Sole
1,246,221 16,770 (b) Shared (a) Sole
581,556 12,100 (b) Shared (a) Sole
1,409,887 26,855 (b) Shared (a) Sole
1,742,728 31,650 (b) Shared (a) Sole
3,628,125 135,000 (b) Shared (a) Sole
13,786,875 513,000 (a) Sole (a) Sole
6,311,250 168,300 (b) Shared (a) Sole
20,096,250 535,900 (a) Sole (a) Sole
413,250 29,000 (b) Shared (a) Sole
624,000 12,800 (b) Shared (a) Sole
8,804,673 135,717 (b) Shared (a) Sole
4,384,875 212,600 (b) Shared (a) Sole
1,322,400 69,600 (b) Shared (a) Sole
536,500 18,500 (b) Shared (a) Sole
2,899,214 81,668 (b) Shared (a) Sole
5,898,500 376,000 (b) Shared (a) Sole
17,420,969 1,110,500 (a) Sole (a) Sole
6,958,900 137,800 (b) Shared (a) Sole
24,921,750 493,500 (a) Sole (a) Sole
7,325,937 197,000 (b) Shared (a) Sole
22,111,687 594,600 (a) Sole (a) Sole
612,000 12,000 (b) Shared (a) Sole
1,640,344 57,430 (b) Shared (a) Sole
6,869,375 145,000 (b) Shared (a) Sole
</TABLE>
<TABLE>
<S> <C> <C> <C>
24,251,262 511,900 (a) Sole (a) Sole
6,297,112 112,700 (b) Shared (a) Sole
17,483,287 312,900 (a) Sole (a) Sole
2,305,875 64,500 (b) Shared (a) Sole
5,280,275 147,700 (a) Sole (a) Sole
3,983,175 113,400 (b) Shared (a) Sole
4,492,487 127,900 (a) Sole (a) Sole
2,047,500 90,000 (b) Shared (a) Sole
1,220,866 82,075 (b) Shared (a) Sole
6,939,319 174,300 (b) Shared (a) Sole
20,539,269 515,900 (a) Sole (a) Sole
6,741,750 133,500 (b) Shared (a) Sole
20,326,250 402,500 (a) Sole (a) Sole
2,876,591 326,000 (b) Shared (a) Sole
7,932,686 899,000 (a) Sole (a) Sole
1,659,934 56,150 (b) Shared (a) Sole
13,559,256 220,700 (b) Shared (a) Sole
47,448,181 772,300 (a) Sole (a) Sole
4,015,687 132,750 (b) Shared (a) Sole
6,564,250 217,000 (a) Sole (a) Sole
6,880,006 375,700 (b) Shared (a) Sole
16,774,250 916,000 (a) Sole (a) Sole
882,345 14,160 (b) Shared (a) Sole
913,101 16,260 (b) Shared (a) Sole
1,592,681 73,650 (b) Shared (a) Sole
1,546,440 23,520 (b) Shared (a) Sole
636,925 29,200 (b) Shared (a) Sole
367,770 73,554 (a) Sole (a) Sole
25,012 575 (b) Shared (a) Sole
3,572,347 34,599 (b) Shared (a) Sole
1,277,820 70,990 (b) Shared (a) Sole
4,170,037 73,400 (b) Shared (a) Sole
13,657,725 240,400 (a) Sole (a) Sole
8,641,531 126,500 (b) Shared (a) Sole
30,781,612 450,600 (a) Sole (a) Sole
754,687 25,000 (b) Shared (a) Sole
6,134,625 199,500 (b) Shared (a) Sole
21,371,250 695,000 (a) Sole (a) Sole
5,934,500 104,000 (b) Shared (a) Sole
14,151,500 248,000 (a) Sole (a) Sole
9,499,258 230,985 (b) Shared (a) Sole
28,861,525 701,800 (a) Sole (a) Sole
661,927 11,160 (b) Shared (a) Sole
5,599,012 23,550 (b) Shared (a) Sole
240,986 3,065 (b) Shared (a) Sole
3,660,137 167,800 (b) Shared (a) Sole
1,380,731 63,300 (a) Sole (a) Sole
491,400 16,800 (b) Shared (a) Sole
748,039 19,981 (b) Shared (a) Sole
</TABLE>
<PAGE> 10
<TABLE>
<S> <C> <C>
308,000 16,000 (b) Shared (a) Sole
2,346,750 63,000 (b) Shared (a) Sole
3,423,275 91,900 (a) Sole (a) Sole
1,995,000 35,000 (b) Shared (a) Sole
5,345,281 29,758 (b) Shared (a) Sole
2,499,375 155,000 (b) Shared (a) Sole
4,192,500 260,000 (a) Sole (a) Sole
532,812 25,000 (b) Shared (a) Sole
2,472,500 2,300,000 (b) Shared (a) Sole
10,750,000 10,000,000 (a) Sole (a) Sole
4,190,625 4,500,000 (b) Shared (a) Sole
2,747,187 2,950,000 (a) Sole (a) Sole
$1,036,205,810
</TABLE>
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