Westchester Capital Management 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
Expires:	Oct 31, 2018
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hours per response:		23.8

COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
American International Group, Inc.	COM NEW	026874784	88,981	1,425,300	SH		SOLE		1,425,300	0	0
American International Group, Inc.	COM NEW	026874784	2,079	33,300	SH		OTR	1	33,300	0	0
American International Group, Inc.	COM NEW	026874784	31,664	507,200	SH	Put	SOLE		507,200	0	0
American International Group, Inc.	COM NEW	026874784	1,542	24,700	SH	Put	OTR	1	24,700	0	0
American International Group, Inc.	COM NEW	026874784	4,932	79,000	SH	Put	SOLE		79,000	0	0
American International Group, Inc.	COM NEW	026874784	131	2,100	SH	Put	OTR	1	2,100	0	0
American International Group, Inc.	COM NEW	026874784	855	13,700	SH	Put	SOLE		13,700	0	0
American International Group, Inc.	COM NEW	026874784	94	1,500	SH	Put	OTR	1	1,500	0	0
American International Group, Inc.	COM NEW	026874784	55,944	896,100	SH	Put	SOLE		896,100	0	0
AT&T Inc.	COM	00206R102	33,211	799,300	SH	Put	SOLE		799,300	0	0
AT&T Inc.	COM	00206R102	416	10,000	SH	Put	OTR	1	10,000	0	0
Alibaba Group Hldg Ltd.	SPONSORED ADS	01609W102	2,006	18,600	SH	Put	SOLE		18,600	0	0
Alibaba Group Hldg Ltd.	SPONSORED ADS	01609W102	32	300	SH	Put	OTR	1	300	0	0
Alon USA Energy, Inc.	COM	020520102	803	65,848	SH		SOLE		65,848	0	0
Alon USA Energy, Inc.	COM	020520102	90	7,358	SH		OTR	1	7,358	0	0
Ashland Global Holdings Inc.	COM	044186104	55,690	449,800	SH	Put	SOLE		449,800	0	0
Ashland Global Holdings Inc.	COM	044186104	830	6,700	SH	Put	OTR	1	6,700	0	0
Ashland Global Holdings Inc.	COM	044186104	644	5,200	SH	Put	SOLE		5,200	0	0
Ashland Global Holdings Inc.	COM	044186104	62	500	SH	Put	OTR	1	500	0	0
Ashland Global Holdings Inc.	COM	044186104	59,491	480,500	SH		SOLE		480,500	0	0
Ashland Global Holdings Inc.	COM	044186104	1,350	10,900	SH		OTR	1	10,900	0	0
Ashland Global Holdings Inc.	COM	044186104	57,931	467,900	SH	Put	SOLE		467,900	0	0
Ashland Global Holdings Inc.	COM	044186104	1,201	9,700	SH	Put	OTR	1	9,700	0	0
B/E Aerospace, Inc.	COM	073302101	105,872	1,651,412	SH		SOLE		1,651,412	0	0
B/E Aerospace, Inc.	COM	073302101	2,297	35,828	SH		OTR	1	35,828	0	0
Baker Hughes Incorporated	COM	057224107	963	16,100	SH	Put	SOLE		16,100	0	0
Baker Hughes Incorporated	COM	057224107	114	1,900	SH	Put	OTR	1	1,900	0	0
Baker Hughes Incorporated	COM	057224107	70,336	1,175,800	SH	Put	SOLE		1,175,800	0	0
Baker Hughes Incorporated	COM	057224107	724	12,100	SH	Put	OTR	1	12,100	0	0
Baker Hughes Incorporated	COM	057224107	2,321	38,800	SH	Put	SOLE		38,800	0	0
Baker Hughes Incorporated	COM	057224107	257	4,300	SH	Put	OTR	1	4,300	0	0
Baker Hughes Incorporated	COM	057224107	2,979	49,800	SH	Put	SOLE		49,800	0	0
Baker Hughes Incorporated	COM	057224107	299	5,000	SH	Put	OTR	1	5,000	0	0
Baker Hughes Incorporated	COM	057224107	72,798	1,216,945	SH		SOLE		1,216,945	0	0
Baker Hughes Incorporated	COM	057224107	1,328	22,207	SH		OTR	1	22,207	0	0
Blackrock Debt Strategies Fund, Inc.	COM NEW	09255R202	4,060	352,469	SH		SOLE		352,469	0	0
Blackrock Fltg Rate Inc. OME STR	COM	09255X100	4,411	304,445	SH		SOLE		304,445	0	0
Bob Evans Farms, Inc.	COM	096761101	10,288	158,600	SH	Put	SOLE		158,600	0	0
Bob Evans Farms, Inc.	COM	096761101	1,207	18,600	SH	Put	OTR	1	18,600	0	0
Bob Evans Farms, Inc.	COM	096761101	10,288	158,600	SH		SOLE		158,600	0	0
Bob Evans Farms, Inc.	COM	096761101	1,207	18,600	SH		OTR	1	18,600	0	0
CBS Corporation	CL B	124857202	5,479	79,000	SH		SOLE		79,000	0	0
CBS Corporation	CL B	124857202	652	9,400	SH		OTR	1	9,400	0	0
CBS Corporation	CL B	124857202	430	6,200	SH	Put	SOLE		6,200	0	0
CBS Corporation	CL B	124857202	49	700	SH	Put	OTR	1	700	0	0
CBS Corporation	CL B	124857202	4,703	67,800	SH	Put	SOLE		67,800	0	0
CBS Corporation	CL B	124857202	541	7,800	SH	Put	OTR	1	7,800	0	0
CIT Group Inc.	COM NEW	125581801	19,151	446,100	SH	Put	SOLE		446,100	0	0
CIT Group Inc.	COM NEW	125581801	1,674	39,000	SH	Put	OTR	1	39,000	0	0
CIT Group Inc.	COM NEW	125581801	3,598	83,800	SH	Put	SOLE		83,800	0	0
CIT Group Inc.	COM NEW	125581801	270	6,300	SH	Put	OTR	1	6,300	0	0
CIT Group Inc.	COM NEW	125581801	12,184	283,800	SH		SOLE		283,800	0	0
CIT Group Inc.	COM NEW	125581801	1,391	32,400	SH		OTR	1	32,400	0	0
CSX Corporation	COM	126408103	19,663	422,400	SH		SOLE		422,400	0	0
CSX Corporation	COM	126408103	2,314	49,700	SH		OTR	1	49,700	0	0
CSX Corporation	COM	126408103	712	15,300	SH	Put	SOLE		15,300	0	0
CSX Corporation	COM	126408103	56	1,200	SH	Put	OTR	1	1,200	0	0
CSX Corporation	COM	126408103	6,121	131,500	SH	Put	SOLE		131,500	0	0
CSX Corporation	COM	126408103	684	14,700	SH	Put	OTR	1	14,700	0	0
CSX Corporation	COM	126408103	9,296	199,700	SH	Put	SOLE		199,700	0	0
CSX Corporation	COM	126408103	1,057	22,700	SH	Put	OTR	1	22,700	0	0
CSX Corporation	COM	126408103	4,152	89,200	SH	Put	SOLE		89,200	0	0
CSX Corporation	COM	126408103	456	9,800	SH	Put	OTR	1	9,800	0	0
Cascade Bancorp	COM NEW	147154207	1,244	161,294	SH		SOLE		161,294	0	0
Chemtura Corporation	COM NEW	163893209	76,051	2,276,979	SH		SOLE		2,276,979	0	0
Colony NorthStar, Inc.	CL A COM	19625W104	6,437	498,617	SH		SOLE		498,617	0	0
Computer Sciences Corporation	COM	205363104	545	7,900	SH		SOLE		7,900	0	0
Computer Sciences Corporation	COM	205363104	62	900	SH		OTR	1	900	0	0
Computer Sciences Corporation	COM	205363104	545	7,900	SH	Put	SOLE		7,900	0	0
Computer Sciences Corporation	COM	205363104	62	900	SH	Put	OTR	1	900	0	0
DISH Network Corp.	CL A	25470M109	9,212	145,100	SH		SOLE		145,100	0	0
DISH Network Corp.	CL A	25470M109	1,194	18,800	SH		OTR	1	18,800	0	0
DISH Network Corp.	CL A	25470M109	4,717	74,300	SH	Put	SOLE		74,300	0	0
DISH Network Corp.	CL A	25470M109	546	8,600	SH	Put	OTR	1	8,600	0	0
DISH Network Corp.	CL A	25470M109	4,908	77,300	SH	Put	SOLE		77,300	0	0
DISH Network Corp.	CL A	25470M109	552	8,700	SH	Put	OTR	1	8,700	0	0
Dell Technologies Inc.	COM CL V	24703L103	33,663	525,332	SH		SOLE		525,332	0	0
Dell Technologies Inc.	COM CL V	24703L103	471	7,349	SH		OTR	1	7,349	0	0
DigitalGlobe Inc.	COM NEW	25389M877	17,718	541,017	SH		SOLE		541,017	0	0
DigitalGlobe Inc.	COM NEW	25389M877	278	8,483	SH		OTR	1	8,483	0	0
Du Pont (E.I.) de Nemours & Co.	COM	263534109	113,812	1,416,801	SH		SOLE		1,416,801	0	0
Du Pont (E.I.) de Nemours & Co.	COM	263534109	2,343	29,171	SH		OTR	1	29,171	0	0
Du Pont (E.I.) de Nemours & Co.	COM	263534109	9,061	112,800	SH	Put	SOLE		112,800	0	0
Du Pont (E.I.) de Nemours & Co.	COM	263534109	145	1,800	SH	Put	OTR	1	1,800	0	0
Du Pont (E.I.) de Nemours & Co.	COM	263534109	33,377	415,500	SH	Put	SOLE		415,500	0	0
Du Pont (E.I.) de Nemours & Co.	COM	263534109	386	4,800	SH	Put	OTR	1	4,800	0	0
Du Pont (E.I.) de Nemours & Co.	COM	263534109	18,211	226,700	SH	Put	SOLE		226,700	0	0
Du Pont (E.I.) de Nemours & Co.	COM	263534109	289	3,600	SH	Put	OTR	1	3,600	0	0
Energy Transfer Partners LP	UNIT LTD PARTN	29273R109	35,434	970,267	SH		SOLE		970,267	0	0
EverBank Financial Corporation	COM	29977G102	71,341	3,662,256	SH		SOLE		3,662,256	0	0
First Trust Senior Fltg. Rate Income Fd.I	COM	33733U108	2,282	165,009	SH		SOLE		165,009	0	0
Fortress Investment Group LLC	CL A	34958B106	30,644	3,854,589	SH		SOLE		3,854,589	0	0
General Electric Company	COM	369604103	12,704	426,300	SH	Put	SOLE		426,300	0	0
General Electric Company	COM	369604103	1,469	49,300	SH	Put	OTR	1	49,300	0	0
General Electric Company	COM	369604103	4,527	151,900	SH	Put	SOLE		151,900	0	0
General Electric Company	COM	369604103	516	17,300	SH	Put	OTR	1	17,300	0	0
General Electric Company	COM	369604103	17,230	578,200	SH		SOLE		578,200	0	0
General Electric Company	COM	369604103	1,985	66,600	SH		OTR	1	66,600	0	0
General Motors Co.	COM	37045V100	7,090	200,500	SH		SOLE		200,500	0	0
General Motors Co.	COM	37045V100	789	22,300	SH		OTR	1	22,300	0	0
General Motors Co.	COM	37045V100	7,090	200,500	SH	Put	SOLE		200,500	0	0
General Motors Co.	COM	37045V100	789	22,300	SH	Put	OTR	1	22,300	0	0
Headwaters Incorporated	COM	42210P102	796	33,911	SH		OTR	1	33,911	0	0
Hertz Global Holdings, Inc.	COM	42806J106	10,391	592,400	SH	Put	SOLE		592,400	0	0
Hertz Global Holdings, Inc.	COM	42806J106	1,149	65,500	SH	Put	OTR	1	65,500	0	0
Hertz Global Holdings, Inc.	COM	42806J106	8,102	461,900	SH		SOLE		461,900	0	0
Hertz Global Holdings, Inc.	COM	42806J106	1,191	67,900	SH		OTR	1	67,900	0	0
Hertz Global Holdings, Inc.	COM	42806J106	1,233	70,300	SH	Put	SOLE		70,300	0	0
Hertz Global Holdings, Inc.	COM	42806J106	142	8,100	SH	Put	OTR	1	8,100	0	0
Hewlett Packard Enterprise Company	COM	42824C109	111,077	4,686,800	SH		SOLE		4,686,800	0	0
Hewlett Packard Enterprise Company	COM	42824C109	2,534	106,900	SH		OTR	1	106,900	0	0
Hewlett Packard Enterprise Company	COM	42824C109	36,635	1,545,800	SH	Put	SOLE		1,545,800	0	0
Hewlett Packard Enterprise Company	COM	42824C109	306	12,900	SH	Put	OTR	1	12,900	0	0
Hewlett Packard Enterprise Company	COM	42824C109	63,668	2,686,400	SH	Put	SOLE		2,686,400	0	0
Hewlett Packard Enterprise Company	COM	42824C109	2,228	94,000	SH	Put	OTR	1	94,000	0	0
Hewlett Packard Enterprise Company	COM	42824C109	15,329	646,800	SH	Put	SOLE		646,800	0	0
Hilton Worldwide Holdings Inc.	COM	43300A203	9,406	160,900	SH	Put	SOLE		160,900	0	0
Hilton Worldwide Holdings Inc.	COM	43300A203	1,087	18,600	SH	Put	OTR	1	18,600	0	0
Hilton Worldwide Holdings Inc.	COM	43300A203	9,406	160,900	SH		SOLE		160,900	0	0
Hilton Worldwide Holdings Inc.	COM	43300A203	1,087	18,600	SH		OTR	1	18,600	0	0
Humana Inc.	COM	444859102	227	1,100	SH		SOLE		1,100	0	0
Humana Inc.	COM	444859102	144	700	SH		OTR	1	700	0	0
Huntsman Corporation	COM	447011107	7,789	317,400	SH	Put	SOLE		317,400	0	0
Huntsman Corporation	COM	447011107	3,747	152,700	SH	Put	SOLE		152,700	0	0
Huntsman Corporation	COM	447011107	429	17,500	SH	Put	OTR	1	17,500	0	0
Huntsman Corporation	COM	447011107	7,789	317,400	SH		SOLE		317,400	0	0
Huntsman Corporation	COM	447011107	11,752	478,900	SH	Put	SOLE		478,900	0	0
Huntsman Corporation	COM	447011107	1,325	54,000	SH	Put	OTR	1	54,000	0	0
Invesco Senior Income Trust	COM	46131H107	6,350	1,371,457	SH		SOLE		1,371,457	0	0
Isle of Capri Casinos, Inc.	COM	464592104	8,942	339,243	SH		SOLE		339,243	0	0
KLR Energy Acquisition Corp.	CL A	49877M108	4,118	399,000	SH		SOLE		399,000	0	0
Lennar Corporation	CL B	526057302	32	769	SH		SOLE		769	0	0
Lennar Corporation	CL B	526057302	4	88	SH		OTR	1	88	0	0
Level 3 Communications, Inc.	COM NEW	52729N308	82,708	1,445,437	SH		SOLE		1,445,437	0	0
Level 3 Communications, Inc.	COM NEW	52729N308	1,468	25,652	SH		OTR	1	25,652	0	0
Liberty Media Corp Delaware	COM A SIRIUSXM	531229409	24,381	626,429	SH		SOLE		626,429	0	0
Liberty Media Corp Delaware	COM A SIRIUSXM	531229409	1,171	30,075	SH		OTR	1	30,075	0	0
MGM Resorts International	COM	552953101	11,914	434,800	SH	Put	SOLE		434,800	0	0
MGM Resorts International	COM	552953101	1,460	53,300	SH	Put	OTR	1	53,300	0	0
MGM Resorts International	COM	552953101	13,368	487,900	SH		SOLE		487,900	0	0
MGM Resorts International	COM	552953101	1,628	59,400	SH		OTR	1	59,400	0	0
MGM Resorts International	COM	552953101	1,455	53,100	SH	Put	SOLE		53,100	0	0
MGM Resorts International	COM	552953101	167	6,100	SH	Put	OTR	1	6,100	0	0
Marathon Petroleum Corporation	COM	56585A102	12,266	242,700	SH	Put	SOLE		242,700	0	0
Marathon Petroleum Corporation	COM	56585A102	1,430	28,300	SH	Put	OTR	1	28,300	0	0
Marathon Petroleum Corporation	COM	56585A102	12,266	242,700	SH		SOLE		242,700	0	0
Marathon Petroleum Corporation	COM	56585A102	1,430	28,300	SH		OTR	1	28,300	0	0
Mead Johnson Nutrition Co.	COM	582839106	108,173	1,214,336	SH		SOLE		1,214,336	0	0
Mead Johnson Nutrition Co.	COM	582839106	731	8,211	SH		OTR	1	8,211	0	0
Mead Johnson Nutrition Co.	COM	582839106	5,487	61,600	SH	Call	SOLE		61,600	0	0
Mead Johnson Nutrition Co.	COM	582839106	71	800	SH	Call	OTR	1	800	0	0
MetLife, Inc.	COM	59156R108	20,658	391,100	SH	Put	SOLE		391,100	0	0
MetLife, Inc.	COM	59156R108	2,382	45,100	SH	Put	OTR	1	45,100	0	0
MetLife, Inc.	COM	59156R108	1,595	30,200	SH		OTR	1	30,200	0	0
Mobileye N.V. AMSTELVEEN	ORD SHS	N51488117	106,860	1,740,385	SH		SOLE		1,740,385	0	0
Mobileye N.V. AMSTELVEEN	ORD SHS	N51488117	1,073	17,478	SH		OTR	1	17,478	0	0
NXP Semiconductors NV	COM	N6596X109	160,012	1,546,013	SH		SOLE		1,546,013	0	0
NXP Semiconductors NV	COM	N6596X109	3,176	30,684	SH		OTR	1	30,684	0	0
News Corporation NEW	CL A	65249B109	1,790	137,722	SH		SOLE		137,722	0	0
News Corporation NEW	CL A	65249B109	329	25,279	SH		OTR	1	25,279	0	0
Nuveen Credit Strategies Income Fund	COM SHS	67073D102	4,941	568,550	SH		SOLE		568,550	0	0
ONEOK Partners, LP	UNIT LTD PARTN	68268N103	25,290	468,416	SH		SOLE		468,416	0	0
Pacific Special Acquisition Corp.	SHS	G68588105	2,173	210,000	SH		SOLE		210,000	0	0
Pacific Special Acquisition Corp.	*W EXP 10/20/202	G68588121	73	210,000	SH		SOLE		210,000	0	0
PrivateBancorp, Inc.	COM	742962103	75,996	1,280,046	SH		SOLE		1,280,046	0	0
Reynolds American Inc.	COM	761713106	200,482	3,181,248	SH		SOLE		3,181,248	0	0
Reynolds American Inc.	COM	761713106	4,134	65,595	SH		OTR	1	65,595	0	0
Rite Aid Corp.	COM	767754104	5,831	1,371,942	SH		SOLE		1,371,942	0	0
Rite Aid Corp.	COM	767754104	152	35,712	SH		OTR	1	35,712	0	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	72,773	308,700	SH	Put	SOLE		308,700	0	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	1,155	4,900	SH	Put	OTR	1	4,900	0	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	184,349	782,000	SH	Put	SOLE		782,000	0	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	2,900	12,300	SH	Put	OTR	1	12,300	0	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	21,688	92,000	SH	Call	SOLE		92,000	0	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	330	1,400	SH	Call	OTR	1	1,400	0	0
Sealed Air Corporation NEW	COM	81211K100	15,179	348,300	SH	Put	SOLE		348,300	0	0
Sealed Air Corporation NEW	COM	81211K100	1,704	39,100	SH	Put	OTR	1	39,100	0	0
Sealed Air Corporation NEW	COM	81211K100	38,917	893,000	SH	Put	SOLE		893,000	0	0
Sealed Air Corporation NEW	COM	81211K100	161	3,700	SH	Put	OTR	1	3,700	0	0
Sealed Air Corporation NEW	COM	81211K100	37,841	868,300	SH		SOLE		868,300	0	0
Starwood Property Trust, Inc.	COM	85571B105	10,937	484,358	SH		SOLE		484,358	0	0
Syngenta AG	SPONSORED ADR	87160A100	104,646	1,182,442	SH		SOLE		1,182,442	0	0
Syngenta AG	SPONSORED ADR	87160A100	2,556	28,881	SH		OTR	1	28,881	0	0
The Valspar Corporation	COM	920355104	76,750	691,819	SH		SOLE		691,819	0	0
The Valspar Corporation	COM	920355104	1,730	15,591	SH		OTR	1	15,591	0	0
Time Warner Inc.	COM NEW	887317303	169,843	1,738,238	SH		SOLE		1,738,238	0	0
Time Warner Inc.	COM NEW	887317303	3,312	33,892	SH		OTR	1	33,892	0	0
VCA Inc.	COM	918194101	93,342	1,020,127	SH		SOLE		1,020,127	0	0
VCA Inc.	COM	918194101	1,716	18,753	SH		OTR	1	18,753	0	0
VanEck Vectors ETF TR	SEMICONDUCTOR ET	92189F676	11,279	141,500	SH	Put	SOLE		141,500	0	0
VanEck Vectors ETF TR	SEMICONDUCTOR ET	92189F676	199	2,500	SH	Put	OTR	1	2,500	0	0
Varex Imaging Corporation	COM	92214X106	547	16,280	SH		SOLE		16,280	0	0
Varex Imaging Corporation	COM	92214X106	62	1,840	SH		OTR	1	1,840	0	0
Varian Medical Systems, Inc.	COM	92220P105	9,751	107,000	SH	Put	SOLE		107,000	0	0
Varian Medical Systems, Inc.	COM	92220P105	1,103	12,100	SH	Put	OTR	1	12,100	0	0
Varian Medical Systems, Inc.	COM	92220P105	3,709	40,700	SH		SOLE		40,700	0	0
Varian Medical Systems, Inc.	COM	92220P105	419	4,600	SH		OTR	1	4,600	0	0
Voya (ING) Prime Rate Trust	SH BEN INT	92913A100	3,703	684,485	SH		SOLE		684,485	0	0
Western Asset High Income Opportunity Fun	COM	95766K109	4,829	958,229	SH		SOLE		958,229	0	0
Wheeler Real Estate Inv.Trust, Inc.	COM	963025101	1,000	577,823	SH		SOLE		577,823	0	0
WhiteWave Foods Company	COM	966244105	41,013	730,413	SH		SOLE		730,413	0	0
WhiteWave Foods Company	COM	966244105	868	15,460	SH		OTR	1	15,460	0	0
Yahoo! Inc.	COM	984332106	180,628	3,892,004	SH		SOLE		3,892,004	0	0
Yahoo! Inc.	COM	984332106	3,183	68,587	SH		OTR	1	68,587	0	0