CIK: 0001317195
Total reported value
$3.1B
Reporting period: 2026-03-31 · Number of holdings: 124
Empyrean Capital Partners, LP disclosed 124 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $3.1B and a quarterly turnover rate of 59.1%.
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Empyrean Capital Partners, LP's disclosed holdings carry a Herfindahl concentration index of 0.017 — mathematically equivalent to about 59 equally-sized positions, well below its 124 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 1.05), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 65% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Trim COF
-64.0% -$78.4M
Trim UNP
-36.2% -$28.7M
Trim AER
-9.1% -$21.0M
Add NSC
+55.6% $32.2M
Add VISN
+81.2% $30.6M
Trim SHEL
-32.8% -$18.7M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | AER | AerCap Holdings N.V. | Stock-Industrials | 4.47% | -1.04% | -9.09% | |
| 2 | BTI | British American Tob-sp Adr | Stock-Consumer Staples | 3.67% | -0.67% | -12.50% | |
| 3 | SHEL | Shell Plc-adr | Stock-Energy | 3.46% | -0.89% | -32.84% | |
| 4 | MPC | Marathon Petroleum CORP | Stock-Energy | 3.17% | +0.70% | -8.80% | |
| 5 | NSC | Norfolk Southern CORP | Stock-Industrials | 2.96% | +0.91% | +55.59% | |
| 6 | STZ | Constellation Brands Inc-a | Stock-Consumer Staples | 2.96% | — | +3.32% | |
| 7 | TXNM | Txnm Energy INC | Stock-Utilities | 2.75% | — | — | |
| 8 | AAMI | Acadian Asset Management INC | Stock-Other | 2.32% | — | -6.86% | |
| 9 | WBD | Warner Bros Discovery INC | Stock-Comm Services | 2.31% | +0.30% | +29.15% | |
| 10 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 2.22% | +2.22% | NEW | |
| 11 | VISN | Vistance Networks INC | Stock-Tech | 2.21% | +0.91% | +81.17% | |
| 12 | NMRK | Newmark Group Inc-class A | Stock-Other | 2.13% | — | — | |
| 13 | UNP | Union Pacific CORP | Stock-Industrials | 1.88% | -1.13% | -36.25% | |
| 14 | AXTA | Axalta Coating Systems Ltd. | Stock-Materials | 1.85% | — | — | |
| 15 | VTOL | Bristow Group INC | Stock-Other | 1.79% | +0.24% | -3.67% | |
| 16 | ENVA | Enova International INC | Stock-Financials | 1.74% | -0.68% | -10.76% | |
| 17 | CAH | Cardinal Health INC | Stock-Healthcare | 1.71% | — | — | |
| 18 | VSAT | Viasat INC | Stock-Tech | 1.70% | +0.33% | — | |
| 19 | VSH 2.25 09-15-30 | Vishay Intertechnology | Stock-Other | 1.62% | — | +18.18% | |
| 20 | LBRDK | Liberty Broadband-c | Stock-Comm Services | 1.51% | — | — | |
| 21 | EA | Electronic Arts INC | Stock-Comm Services | 1.51% | +1.51% | NEW | |
| 22 | PSX | Phillips 66 | Stock-Energy | 1.40% | — | -10.80% | |
| 23 | ✓ | Bain Cap Gss Invt CORP | Stock-Other | 1.31% | +1.31% | NEW | |
| 24 | CMCSA | Comcast Corp-class A | Stock-Comm Services | 1.26% | +0.36% | +54.83% | |
| 25 | APO | Apollo Global Management INC | Stock-Financials | 1.19% | +1.19% | NEW | |
| 26 | FOXA | Fox CORP - Class A | Stock-Comm Services | 1.18% | +1.18% | NEW | |
| 27 | ✓ | Stock-Other | 1.17% | — | — | ||
| 28 | PPLI | People INC | Stock-Comm Services | 1.07% | — | +21.12% | |
| 29 | OPTU | Optimum Communications Inc-a | Stock-Comm Services | 1.04% | — | -1.80% | |
| 30 | RIG | Transocean Ltd. | Stock-Energy | 0.99% | +0.99% | NEW | |
| 31 | ASH | Ashland INC | Stock-Materials | 0.98% | — | — | |
| 32 | KVUE | Kenvue INC | Stock-Consumer Staples | 0.97% | — | — | |
| 33 | NNI | Nelnet Inc-cl A | Stock-Other | 0.97% | — | — | |
| 34 | ✓ | Mister Car Wash INC | Stock-Other | 0.96% | +0.96% | NEW | |
| 35 | PD 1.5 10-15-28 * | Pagerduty INC. | Stock-Other | 0.96% | — | +13.86% | |
| 36 | COF | Capital One Financial CORP | Stock-Financials | 0.95% | -2.80% | -63.96% | |
| 37 | ANIP 2.25 09-01-29 | Ani Pharmaceuticals INC | Stock-Other | 0.95% | — | +11.90% | |
| 38 | CCIX | Churchill Capital Corp IX | Stock-Other | 0.92% | — | — | |
| 39 | PEN | Penumbra INC | Stock-Healthcare | 0.91% | +0.91% | NEW | |
| 40 | WAT | Waters CORP | Stock-Healthcare | 0.89% | +0.89% | NEW | |
| 41 | B | Barrick Mining CORP | Stock-Materials | 0.89% | — | -18.66% | |
| 42 | ECHO | Echostar Corp-a | Stock-Comm Services | 0.87% | — | +20.63% | |
| 43 | ✓ | Karbon Cap Partners CORP | Stock-Other | 0.86% | +0.86% | NEW | |
| 44 | SNAP | Snap INC - A | Stock-Comm Services | 0.82% | +0.82% | NEW | |
| 45 | LBRDA | Liberty Broadband-a | Stock-Other | 0.82% | — | — | |
| 46 | ✓ | Fortress Value Acqu CORP V | Stock-Other | 0.81% | +0.81% | NEW | |
| 47 | ON 0.5 03-01-29 | On Semiconductor CORP | Stock-Tech | 0.80% | — | — | |
| 48 | NG | Novagold Resources INC | Stock-Other | 0.79% | — | -0.19% | |
| 49 | QRVO | Qorvo INC | Stock-Tech | 0.78% | — | — | |
| 50 | PPTA | Perpetua Resources CORP | Stock-Other | 0.77% | — | -18.36% |
Performance for Q3 2026
+2.5%
Performance Last 4 Quarters
-2.4%
Based on 63% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 124 | $3.1B | 59 | |
| 2025-12-31 | 94 | $2.9B | 54 | |
| 2025-09-30 | 86 | $2.5B | 100 | |
| 2025-06-30 | 75 | $3.0B | 0 | |
| 2025-03-31 | 59 | $2.8B | 100 | |
| 2024-12-31 | 71 | $2.2B | 0 | |
| 2024-09-30 | 69 | $2.4B | 0 | |
| 2024-06-30 | 69 | $1.7B | 0 | |
| 2024-03-31 | 66 | $1.7B | 0 | |
| 2023-12-31 | 58 | $1.6B | 0 | |
| 2023-09-30 | 72 | $1.6B | 0 | |
| 2023-06-30 | 69 | $2.2B | 0 | |
| 2023-03-31 | 87 | $2.9B | 0 | |
| 2022-12-31 | 112 | $3.2B | 0 | |
| 2022-09-30 | 128 | $3.2B | 0 | |
| 2022-06-30 | 153 | $3.1B | 0 | |
| 2022-03-31 | 197 | $4.5B | 0 | |
| 2021-12-31 | 186 | $3.8B | 0 | |
| 2021-09-30 | 183 | $4.5B | 0 | |
| 2021-06-30 | 177 | $4.4B | 41 | |
| 2021-03-31 | 164 | $3.5B | 76 | |
| 2020-12-31 | 128 | $3.1B | 79 | |
| 2020-09-30 | 81 | $2.5B | 72 | |
| 2020-06-30 | 68 | $1.7B | 99 | |
| 2020-03-31 | 65 | $1.5B | 100 | |
| 2019-12-31 | 57 | $1.5B | 65 | |
| 2019-09-30 | 77 | $1.9B | 63 | |
| 2019-06-30 | 78 | $2.2B | 85 | |
| 2019-03-31 | 77 | $2.2B | 77 | |
| 2018-12-31 | 64 | $1.9B | 76 | |
| 2018-09-30 | 77 | $3.2B | 42 | |
| 2018-06-30 | 79 | $3.2B | 95 | |
| 2018-03-31 | 64 | $1.9B | 67 | |
| 2017-12-31 | 62 | $2.2B | 65 | |
| 2017-09-30 | 71 | $2.6B | 47 | |
| 2017-06-30 | 68 | $2.3B | 71 | |
| 2017-03-31 | 61 | $2.3B | 78 | |
| 2016-12-31 | 61 | $2.7B | 79 | |
| 2016-09-30 | 69 | $2.0B | 62 | |
| 2016-06-30 | 84 | $2.2B | 74 | |
| 2016-03-31 | 84 | $2.4B | 86 | |
| 2015-12-31 | 69 | $2.7B | 75 | |
| 2015-09-30 | 53 | $2.0B | 90 | |
| 2015-06-30 | 59 | $2.1B | 76 | |
| 2015-03-31 | 55 | $2.0B | 84 | |
| 2014-12-31 | 50 | $1.8B | 100 | |
| 2014-09-30 | 51 | $2.8B | 100 | |
| 2014-06-30 | 51 | $2.8B | 0 | |
| 2014-03-31 | 42 | $2.6B | 95 | |
| 2013-12-31 | 51 | $2.8B | 77 | |
| 2013-09-30 | 59 | $4.3B | 100 | |
| 2013-06-30 | 75 | $4.3B | 0 |
Empyrean Capital Partners, LP's most significant position changes for 2026-03-31: Sold out: P G & E CORP (PCG); Sold out: Cvs Health CORP (CVS); New buy: Ss Spdr S&p 500 ETF Trust-us (SPY); Sold out: Unitedhealth Group INC (UNH); New buy: Electronic Arts INC (EA).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | NSC | Norfolk Southern CORP | +0.9% | +55.59% | Add |
| 2 | VISN | Vistance Networks INC | +0.9% | +81.17% | Add |
| 3 | MPC | Marathon Petroleum CORP | +0.7% | -8.80% | Trim |
| 4 | CMCSA | Comcast Corp-class A | +0.4% | +54.83% | Add |
| 5 | VSAT | Viasat INC | +0.3% | — | Unchanged |
| 6 | WBD | Warner Bros Discovery INC | +0.3% | +29.15% | Add |
| 7 | VTOL | Bristow Group INC | +0.2% | -3.67% | Trim |
| 8 | LBRT | Liberty Energy INC | -0.4% | -66.67% | Trim |
| 9 | BTI | British American Tob-sp Adr | -0.7% | -12.50% | Trim |
| 10 | ENVA | Enova International INC | -0.7% | -10.76% | Trim |
| 11 | SHEL | Shell Plc-adr | -0.9% | -32.84% | Trim |
| 12 | AER | AerCap Holdings N.V. | -1% | -9.09% | Trim |
| 13 | UNP | Union Pacific CORP | -1.1% | -36.25% | Trim |
| 14 | COF | Capital One Financial CORP | -2.8% | -63.96% | Trim |
| 15 | PCG | P G & E CORP | — | EXIT | Sold out |
| 16 | CVS | Cvs Health CORP | — | EXIT | Sold out |
| 17 | SPY | Ss Spdr S&p 500 ETF Trust-us | — | NEW | New buy |
| 18 | UNH | Unitedhealth Group INC | — | EXIT | Sold out |
| 19 | EA | Electronic Arts INC | — | NEW | New buy |
| 20 | ✓ | Bain Cap Gss Invt CORP | — | EXIT | Sold out |
| 21 | ✓ | Bain Cap Gss Invt CORP | — | NEW | New buy |
| 22 | APO | Apollo Global Management INC | — | NEW | New buy |
| 23 | FOXA | Fox CORP - Class A | — | NEW | New buy |
| 24 | THS | Treehouse Foods INC | — | EXIT | Sold out |
| 25 | MKSI 1.25 06-01-30 | Mks INC | — | EXIT | Sold out |
| 26 | RIG | Transocean Ltd. | — | NEW | New buy |
| 27 | ✓ | Mister Car Wash INC | — | NEW | New buy |
| 28 | PEN | Penumbra INC | — | NEW | New buy |
| 29 | WAT | Waters CORP | — | NEW | New buy |
| 30 | ✓ | Karbon Cap Partners CORP | — | EXIT | Sold out |
| 31 | ✓ | Karbon Cap Partners CORP | — | NEW | New buy |
| 32 | SNAP | Snap INC - A | — | NEW | New buy |
| 33 | ✓ | Fortress Value Acqu CORP V | — | NEW | New buy |
| 34 | CRL | Charles River Laboratories | — | EXIT | Sold out |
| 35 | IQV | Iqvia Holdings INC | — | EXIT | Sold out |
| 36 | IGV | Ishares Expanded Tech-softwa | — | NEW | New buy |
| 37 | MDLZ | Mondelez International Inc-a | — | EXIT | Sold out |
| 38 | UNF | Unifirst Corp/ma | — | NEW | New buy |
| 39 | BXSL | Blackstone Secured Lending F | — | EXIT | Sold out |
| 40 | ✓ | Metals Acquisition CORP Ii | — | NEW | New buy |
| 41 | ✓ | Kpet Ultra Paceline CORP | — | NEW | New buy |
| 42 | SBAC | Sba Communications CORP | — | NEW | New buy |
| 43 | CAKE 2 03-15-30 | Cheesecake Factory (the) | — | NEW | New buy |
| 44 | ✓ | Infinite Eagle Acquisition C | — | NEW | New buy |
| 45 | TFX | Teleflex INC | — | EXIT | Sold out |
| 46 | VSNT | Versant Media Group INC | — | NEW | New buy |
| 47 | ✓ | Oneim Acquisition CORP | — | NEW | New buy |
| 48 | VG | Venture Global Inc-cl A | — | NEW | New buy |
| 49 | ✓ | Daedalus Spl Acquisition Cor | — | EXIT | Sold out |
| 50 | ✓ | Daedalus Spl Acquisition Cor | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-15 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-17 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-14 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-15 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-14 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-14 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-14 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-15 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-14 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-14 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-14 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-15 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-14 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-15 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-16 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-14 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-15 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-16 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-17 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-16 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-16 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-14 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-15 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-14 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-14 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-14 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-15 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-14 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-14 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-14 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-15 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-14 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-14 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-14 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-15 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-14 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-14 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-15 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-16 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-16 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-16 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-14 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-15 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-17 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-14 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-15 | Amendment | View on EDGAR |
| 2014-06-30 | 2014-08-14 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-14 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-13 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-11-14 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-14 | 13F-HR | View on EDGAR |
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