DFX Intelligence

RIA Intelligence

Registered investment advisers, the advisors registered through them, the capital they report, the private vehicles they run and the people who own them, as a graph with a filing date behind every number. RAUM is what the adviser filed, a move is two registration dates, and a class is a rule you can read.

SEC-registered adviser

Westchester Capital Management, LLC

Asset manager (funds and pooled vehicles)Valhalla, New YorkCRD 155686SEC 801-72002websiteIAPD
Latest filing Mar 30, 2026
First filing on the tape Mar 16, 2012 · 22 filings
SEC status approved since Dec 17, 2010
RAUM
$2.9B
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
0.0%
$0 individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
10
6 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
22 filings and snapshots on the tape
RAUM$2.9B as of Mar 30, 2026
Mar 16, 2012$5.2B then
HNW client RAUM$0 as of Mar 30, 2026
Mar 28, 2025$0 then
State-registered IARs (5.B.3)0 as of Mar 30, 2026
Mar 16, 20120 then
Employees (5.A)10 as of Mar 30, 2026
Apr 1, 201313 then
Private funds1 as of Mar 24, 2016
Apr 1, 20131 then
RAUM +2.5% over the last fiscal year-19% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Mar 30, 2026; every figure names its basis
RAUM per advisor
unknownderivedRAUM over IAPD advisors; not a book size
Clients per advisor
unknownderivedindividual and HNW clients (5.D) over advisors
Average HNW client
unknownderivedHNW RAUM over HNW clients
Average account
$412MderivedRAUM over accounts (5.F.2.f)
Discretionary
100%derivedof RAUM
Institutional
0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
unknownderivedItem 5.A over advisors
Advisors per office
unknownderived1 offices incl. principal (1.F.5)
RAUM growth, one year
+2.5%derivedbetween the last two annual amendments
Advisor growth, one year
unknownderivedItem 5.B.3 between annual amendments
Client growth, one year
unknownderived
Compensation
percentage of assetsreportedItem 5.E
Advisory activities
portfolio management for investment companiesreportedItem 5.G
Ownership
no PE, bank or public-company owner found on Schedule Aderived
Advisor book size
not public; not estimatedreported
Also answered yes on Form ADV
  • buys or sells securities as principal to or from clients (8.A.2)
  • has discretionary authority over which securities are bought or sold (8.C.1)
  • receives research or other products from a broker-dealer, soft dollars (8.E)
  • compensates persons for client referrals (8.G.1)
  • compensates non-employees for client referrals (8.G.2)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Investment companies$2.9B100%
Individual clients
0reported
HNW clients
0reported
Pension plan clients
0reported
Charitable clients
0reported
Accounts
7reported
Financial planning clients
reported
Wrap fee programs
noreported
Custody of client assets
noreported
Compensation
% of AUMreported
Class basis
private_client_share=0.0 fund_share=1.0 institutional_share=0.0 related_bd=true related_bank=true bd_reps=0.0derived
Advisors registered through the firm
0 on IAPD today, longest tenure first
No representative is registered through this CRD on IAPD.
Advisor movement
Left, latest
none on the tape
    Joined, latest
    none on the tape
      Private funds
      1 reported on Schedule D 7.B.(1)
      FundTypeGross assetsOwnersFirst reported
      Merrill Lynch Investment Solutions--Westchester Merger Arbitrage Ucits Fundno longer reportedOther Private Fund$7.3M5Apr 1, 2013
      Owners and control persons
      Schedule A and B, latest filing
      • Aaron Michael Angerthal · Executive Vice Presidentcontrol
        since 10/2021 · owns less than 5%
      • Robert George Aylward · Chief Executive Officercontrol
        since 10/2021 · owns less than 5%
      • Douglas Roy Behren · Co-President And Co-Chief Investment Officercontrol
        since 10/2021 · owns less than 5%
      • J Christopher Colomb · Chief Operations Officercontrol
        since 10/2021 · owns less than 5%
      • Cynthia Andra Purkalitis · Executive Vice President And Chief Legal Officercontrol
        since 11/2023 · owns less than 5%
      • Thomas Michael Shannon · Co-President And Co-Chief Investment Officercontrol
        since 10/2021 · owns less than 5%
      • William Richard Smirl · Executive Vice Presidentcontrol
        since 10/2021 · owns less than 5%
      • Lee Casaundra Wu · Assistant Managing Director And Chief Compliance Officercontrol
        since 10/2021 · owns less than 5%
      Entity owners
      • Virtus Partners, Inc. · Sole Member
        direct · owns 75% or more
      • Virtus Investment Partners, Inc. · Sole Shareholder
        indirect · owns 75% or more of Virtus Partners, Inc. · public reporting company
      Related persons
      Schedule D 7.A
      Advisers that list Westchester Capital Management, LLC as a related person
      Offices
      Schedule D 1.F, the 25 largest
      No branch office listed.
      What changed
      consecutive filings, newest first
      • Employees · 11 to 10
        Mar 28, 2025 to Mar 30, 2026
      • Discretionary RAUM · $2.8B to $2.9B
        Mar 28, 2025 to Mar 30, 2026
      • RAUM · $2.8B to $2.9B
        Mar 28, 2025 to Mar 30, 2026
      • Advisory employees · 7 to 6
        Mar 28, 2024 to Mar 28, 2025
      • Charity clients · unset to 0.0
        Mar 28, 2024 to Mar 28, 2025
      • Corporate clients · unset to 0.0
        Mar 28, 2024 to Mar 28, 2025
      • HNW clients · unset to 0.0
        Mar 28, 2024 to Mar 28, 2025
      • Individual clients · unset to 0.0
        Mar 28, 2024 to Mar 28, 2025
      • Pension plan clients · unset to 0.0
        Mar 28, 2024 to Mar 28, 2025
      • Pooled vehicle clients · unset to 0.0
        Mar 28, 2024 to Mar 28, 2025
      • Employees · 14 to 11
        Mar 28, 2024 to Mar 28, 2025
      • Financial planning clients · unset to
        Mar 28, 2024 to Mar 28, 2025
      • Discretionary RAUM · $4.0B to $2.8B
        Mar 28, 2024 to Mar 28, 2025
      • HNW RAUM · unset to 0.0
        Mar 28, 2024 to Mar 28, 2025
      • Individual RAUM · unset to 0.0
        Mar 28, 2024 to Mar 28, 2025
      • Pension RAUM · unset to 0.0
        Mar 28, 2024 to Mar 28, 2025
      • Pooled vehicle RAUM · unset to 0.0
        Mar 28, 2024 to Mar 28, 2025
      • RAUM · $4.0B to $2.8B
        Mar 28, 2024 to Mar 28, 2025
      • Discretionary RAUM · $5.3B to $4.0B
        Dec 7, 2023 to Mar 28, 2024
      • RAUM · $5.3B to $4.0B
        Dec 7, 2023 to Mar 28, 2024
      • Employees · 13 to 14
        Mar 31, 2022 to Mar 30, 2023
      • Discretionary RAUM · $5.3B to $5.3B
        Mar 31, 2022 to Mar 30, 2023
      • RAUM · $5.3B to $5.3B
        Mar 31, 2022 to Mar 30, 2023
      • Employees · 14 to 13
        Oct 15, 2021 to Mar 31, 2022
      • Discretionary RAUM · $5.4B to $5.3B
        Oct 15, 2021 to Mar 31, 2022
      • RAUM · $5.4B to $5.3B
        Oct 15, 2021 to Mar 31, 2022
      • Accounts · 6 to 7
        Aug 10, 2021 to Oct 15, 2021
      • BD registered reps · 3 to 0
        Aug 10, 2021 to Oct 15, 2021
      • Employees · 18 to 14
        Aug 10, 2021 to Oct 15, 2021
      • Discretionary RAUM · $4.7B to $5.4B
        Aug 10, 2021 to Oct 15, 2021
      • RAUM · $4.7B to $5.4B
        Aug 10, 2021 to Oct 15, 2021
      • Related broker-dealer · false to true
        Aug 10, 2021 to Oct 15, 2021
      • Discretionary RAUM · $4.2B to $4.7B
        Jan 30, 2021 to Mar 31, 2021
      • RAUM · $4.2B to $4.7B
        Jan 30, 2021 to Mar 31, 2021
      • Discretionary RAUM · $4.0B to $4.2B
        Mar 29, 2019 to Mar 27, 2020
      • RAUM · $4.0B to $4.2B
        Mar 29, 2019 to Mar 27, 2020
      • Discretionary RAUM · $2.8B to $4.0B
        Mar 30, 2018 to Mar 29, 2019
      • RAUM · $2.8B to $4.0B
        Mar 30, 2018 to Mar 29, 2019
      • BD registered reps · 1 to 3
        Mar 28, 2017 to Mar 30, 2018
      • Employees · 16 to 18
        Mar 28, 2017 to Mar 30, 2018
      Signals
      13 dated events
      • Westchester Capital Management, Llc reported RAUM $2.8B, down 29% from $4.0B (2024-03-28 to 2025-03-28)
        Mar 28, 2025 · RAUM change · derived
      • Westchester Capital Management, Llc reported RAUM $4.0B, down 26% from $5.3B (2023-12-07 to 2024-03-28)
        Mar 28, 2024 · RAUM change · derived
      • Cynthia Andra Purkalitis (Executive Vice President And Chief Legal Officer) appeared on Schedule A of Westchester Capital Management, Llc
        Dec 7, 2023 · Control person joined · fact
      • Jacqueline Wendy Hills (Executive Vice President, General Counsel And Secretary) no longer on Schedule A of Westchester Capital Management, Llc (listed 2023-03-30, absent 2023-06-20)
        Jun 20, 2023 · Control person left · inference
      • Aaron Michael Angerthal (Executive Vice President) appeared on Schedule A of Westchester Capital Management, Llc
        Oct 15, 2021 · Control person joined · fact
      • Robert George Aylward (Chief Executive Officer) appeared on Schedule A of Westchester Capital Management, Llc
        Oct 15, 2021 · Control person joined · fact
      • Jacqueline Wendy Hills (Executive Vice President, General Counsel And Secretary) appeared on Schedule A of Westchester Capital Management, Llc
        Oct 15, 2021 · Control person joined · fact
      • William Richard Smirl (Executive Vice President) appeared on Schedule A of Westchester Capital Management, Llc
        Oct 15, 2021 · Control person joined · fact
      • Lee Casaundra Wu (Chief Compliance Officer) appeared on Schedule A of Westchester Capital Management, Llc
        Aug 10, 2021 · Control person joined · fact
      • J Christopher Colomb (Chief Financial Officer) appeared on Schedule A of Westchester Capital Management, Llc
        Aug 10, 2021 · Control person joined · fact
      • Jay Bruce Rubin (Chief Compliance Officer And Chief Operating Officer) no longer on Schedule A of Westchester Capital Management, Llc (listed 2021-03-31, absent 2021-08-10)
        Aug 10, 2021 · Control person left · inference
      • Westchester Capital Management, Llc reported RAUM $4.0B, up 42% from $2.8B (2018-03-30 to 2019-03-29)
        Mar 29, 2019 · RAUM change · derived
      • Westchester Capital Management, Llc reported RAUM $2.8B, down 25% from $3.8B (2017-03-28 to 2018-03-30)
        Mar 30, 2018 · RAUM change · derived
      Across DFX
      shared identifiers only, never a name match
      No identifier-backed link to the venture, private equity, family office or sponsor graphs.
      How to reach
      public business contact points only, each with its source
      Firm profile
      linkedin.com/company/westchester-capital-managementreportedpublic record, Form ADV, Sep 18, 2026
      Website
      VIRTUS.COMreportedpublic record, Form ADV, Sep 18, 2026
      Principal office phone
      914-741-5600reportedpublic record, Form ADV, Mar 30, 2026
      Provenance
      Form ADV
      SEC filing data 2011 to 2024 and the monthly roster 2025 onreportedadviserinfo.sec.gov
      Advisors
      IAPD individual compilation feed, dailyreportedadviserinfo.sec.gov
      Class
      Asset manager (funds and pooled vehicles)deriveda rule over Items 5.D and 7.A
      RAUM per advisor
      n/aderivedfirm RAUM over the IAPD count; not a book size
      Loaded
      Sep 14, 2026