Empyrean Capital Partners, LP
13F Reported Value
ⓘ$3.1B
incl. option notional
Equity Holdings
ⓘ$3.0B
Option Notional
ⓘ$68.3M
$68.3M puts / $0 calls
Holdings
124
Latest Filing
2026-03-31
Filing Quarter
Q1 2026
Portfolio Overview
Empyrean Capital Partners, LP disclosed 124 positions worth $3.1B in its Form 13F-HR for Q1 2026 — $3.0B in common stock plus $68.3M of put/call option positions (reported at underlying notional value, not premium at risk), led by $AER (AerCap Holdings N.V.) at 4.6% of the equity portfolio, followed by $BTI and $SHEL. During the quarter the fund opened 43 new positions and exited 16 — including a new stake in $SPY and a full exit from $PCG. The portfolio is most concentrated in Communication Services (13.6% of disclosed assets). All figures are sourced directly from Empyrean Capital Partners, LP’s Form 13F-HR filing with the SEC under CIK 1317195.
AI Fund Analysis
Diversifying
$AER
$BTI
$SHEL
$MPC
$TXNM
$NSC
$STZ
$VSH
$RACSector Allocation
AUM History
Top Equity Holdings by Value
Option Positions
13F rules report options at the value of the underlying shares (notional) — not the premium paid or capital at risk. Shown separately from the equity sleeve above.
Quarterly Activity — Q1 2026
Click any card to unlockTop Holdings
- —
Quality
$137.2M1,000,000 sh - —
Quality
$112.6M1,925,000 sh - —
Quality
$106.2M1,141,700 sh - 50.7
Quality
$97.2M398,100 sh - 70.8
Quality
$91.0M317,100 sh - 65.0
Quality
$90.9M606,200 sh - 57.8
Quality
$84.3M1,442,554 sh - 62.2
Quality
$71.2M1,308,190 sh - 42.1
Quality
$70.9M2,583,000 sh - —
Quality
$68.3M105,000 sh
| Company | Quality | Value | Shares |
|---|---|---|---|
| AerCap Holdings N.V.$AER | — | $137.2M | 1,000,000 |
| British American Tobacco p.l.c.$BTI | — | $112.6M | 1,925,000 |
| Shell plc$SHEL | — | $106.2M | 1,141,700 |
| Marathon Petroleum Corp$MPC | 50.7 | $97.2M | 398,100 |
| NORFOLK SOUTHERN CORP$NSC | 70.8 | $91.0M | 317,100 |
| CONSTELLATION BRANDS, INC.$STZ | 65.0 | $90.9M | 606,200 |
| TXNM ENERGY INC$TXNM | 57.8 | $84.3M | 1,442,554 |
 Acadian Asset Management Inc.$AAMI | 62.2 | $71.2M | 1,308,190 |
 Warner Bros. Discovery, Inc.$WBD | 42.1 | $70.9M | 2,583,000 |
 SPDR S&P 500 ETF TRUST$SPYPUT | — | $68.3M | 105,000 |
Unlock AI quality scores for every holding
32-signal composite ranking on each of Empyrean Capital Partners, LP's 124 positions.
Showing top 10 of 124 holdings.
Sector Allocation
Communication Services
$407.4M
Financials
$391.7M
Energy
$383.4M
Industrials
$376.3M
Technology
$363.9M
Consumer Staples
$317.7M
Other
$261.7M
Materials
$154.2M
Full Holdings — Empyrean Capital Partners, LP (Q1 2026)
All 124 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.
| # | Ticker | Company | Value | Weight | QoQ | Quality |
|---|---|---|---|---|---|---|
| 1 | $AER | AerCap Holdings N.V. | $137.2M | 4.6% | -9% | — |
| 2 | $BTI | British American Tobacco p.l.c. | $112.6M | 3.8% | -13% | — |
| 3 | $SHEL | Shell plc | $106.2M | 3.5% | -33% | — |
| 4 | $MPC | Marathon Petroleum Corp | $97.2M | 3.2% | -9% | 50.7 |
| 5 | $NSC | NORFOLK SOUTHERN CORP | $91.0M | 3.0% | +56% | 70.8 |
| 6 | $STZ | CONSTELLATION BRANDS, INC. | $90.9M | 3.0% | +3% | 65 |
| 7 | $TXNM | TXNM ENERGY INC | $84.3M | 2.8% | +0% | 57.8 |
| 8 | $AAMI | Acadian Asset Management Inc. | $71.2M | 2.4% | -7% | 62.2 |
| 9 | $WBD | Warner Bros. Discovery, Inc. | $70.9M | 2.4% | +29% | 42.1 |
| 10 | $SPYPUT | SPDR S&P 500 ETF TRUST | $68.3M | — | NEW | — |
| 11 |  $VISN | Vistance Networks, Inc. | $67.9M | 2.3% | +81% | 43.9 |
| 12 |  $NMRK | NEWMARK GROUP, INC. | $65.4M | 2.2% | +0% | 52.4 |
| 13 |  $UNP | UNION PACIFIC CORP | $57.8M | 1.9% | -36% | 74 |
| 14 |  $AXTA | Axalta Coating Systems Ltd. | $56.8M | 1.9% | +0% | — |
| 15 |  $VTOL | Bristow Group Inc. | $54.9M | 1.8% | -4% | 60.4 |
| 16 |  $ENVA | Enova International, Inc. | $53.5M | 1.8% | -11% | 76.8 |
| 17 |  $CAH | CARDINAL HEALTH INC | $52.4M | 1.7% | +0% | 58.6 |
| 18 |  $VSAT | VIASAT INC | $52.1M | 1.7% | +0% | 53.3 |
| 19 | $VSH | VISHAY INTERTECHNOLOGY INC | $49.8M | 1.7% | +18% | 35.3 |
| 20 |  $LBRDA | Liberty Broadband Corp | $46.3M | 1.5% | +0% | 59.4 |
| 21 |  $EA | ELECTRONIC ARTS INC. | $46.3M | 1.5% | NEW | 71.1 |
| 22 |  $PSX | Phillips 66 | $43.0M | 1.4% | -11% | 47.6 |
| 23 |  $BCSS | Bain Capital GSS Investment Corp. | $40.3M | 1.3% | NEW | — |
| 24 |  $CCZ | COMCAST CORP | $38.6M | 1.3% | +55% | 70.4 |
| 25 |  $APO | Apollo Global Management, Inc. | $36.6M | 1.2% | NEW | 55.7 |
| 26 |  $FOXA | Fox Corp | $36.3M | 1.2% | NEW | 65.1 |
| 27 |  $CCXI | Churchill Capital Corp XI | $35.9M | 1.2% | +0% | — |
| 28 | — | IAC INC | $32.8M | 1.1% | +21% | — |
| 29 |  $OPTU | Optimum Communications, Inc. | $32.0M | 1.1% | -2% | 29.7 |
| 30 |  $RIG | Transocean Ltd. | $30.3M | 1.0% | NEW | — |
| 31 |  $ASH | ASHLAND INC. | $30.1M | 1.0% | +0% | 34.1 |
| 32 |  $KVUE | Kenvue Inc. | $29.9M | 1.0% | +0% | 60.2 |
| 33 |  $NNI | NELNET INC | $29.8M | 1.0% | +0% | — |
| 34 |  $MCW | Mister Car Wash, Inc. | $29.6M | 1.0% | NEW | 58.7 |
| 35 |  $PD | PagerDuty, Inc. | $29.5M | 1.0% | +14% | 66.6 |
| 36 |  $COF | CAPITAL ONE FINANCIAL CORP | $29.2M | 1.0% | -64% | 71 |
| 37 |  $ANIP | ANI PHARMACEUTICALS INC | $29.1M | 1.0% | +12% | 68.6 |
| 38 |  $CCIX | Churchill Capital Corp IX/Cayman | $28.1M | 0.9% | +0% | — |
| 39 |  $PEN | Penumbra Inc | $27.9M | 0.9% | NEW | 69.7 |
| 40 |  $WAT | WATERS CORP /DE/ | $27.4M | 0.9% | NEW | 69.9 |
| 41 |  $B | BARRICK MINING CORP | $27.2M | 0.9% | -19% | — |
| 42 |  $ECHO | EchoStar CORP | $26.7M | 0.9% | +21% | 29.5 |
| 43 | — | KARBON CAP PARTNERS CORP | $26.5M | 0.9% | +0% | — |
| 44 |  $SNAP | Snap Inc | $25.3M | 0.8% | NEW | 46.8 |
| 45 | $LBRDA | Liberty Broadband Corp | $25.1M | 0.8% | +0% | 59.4 |
| 46 | — | FORTRESS VALUE ACQU CORP V | $24.8M | 0.8% | NEW | — |
| 47 |  $ON | ON SEMICONDUCTOR CORP | $24.5M | 0.8% | +0% | 42.4 |
| 48 |  $NG | NOVAGOLD RESOURCES INC | $24.2M | 0.8% | -0% | — |
| 49 |  $QRVO | Qorvo, Inc. | $23.9M | 0.8% | +0% | 64.3 |
| 50 |  $PPTA | PERPETUA RESOURCES CORP. | $23.6M | 0.8% | -18% | — |
| 51 | $RAC | Rithm Acquisition Corp. | $23.2M | 0.8% | +60% | — |
| 52 |  $NN | NEXTNAV INC. | $22.9M | 0.8% | -24% | 21.2 |
| 53 | — | ISHARES TR | $22.9M | 0.8% | NEW | — |
| 54 |  $UNF | UNIFIRST CORP | $20.4M | 0.7% | NEW | 48.4 |
| 55 | — | METALS ACQUISITION CORP II | $20.0M | 0.7% | NEW | — |
| 56 | — | AMPHASTAR PHARMACEUTICALS IN | $18.2M | 0.6% | +25% | — |
| 57 |  $KMB | KIMBERLY CLARK CORP | $18.1M | 0.6% | +0% | 61.7 |
| 58 | — | KPET ULTRA PACELINE CORP | $18.0M | 0.6% | NEW | — |
| 59 |  $SBAC | SBA COMMUNICATIONS CORP | $17.6M | 0.6% | NEW | 71.3 |
| 60 |  $SNCY | Sun Country Airlines Holdings, LLC | $17.1M | 0.6% | +62% | 50.5 |
| 61 |  $AMBP | Ardagh Metal Packaging S.A. | $16.2M | 0.5% | +0% | — |
| 62 |  $SIRI | SIRIUS XM HOLDINGS INC. | $16.0M | 0.5% | +0% | 37.7 |
| 63 | — | CHEESECAKE FACTORY INC | $15.8M | 0.5% | NEW | — |
| 64 | — | INFINITE EAGLE ACQUISITION C | $15.2M | 0.5% | NEW | — |
| 65 |  $GTEN | Gores Holdings X, Inc. / CI | $15.1M | 0.5% | +0% | — |
| 66 |  $VSNT | Versant Media Group, Inc. | $14.2M | 0.5% | NEW | — |
| 67 | — | ONEIM ACQUISITION CORP | $13.7M | 0.5% | NEW | — |
| 68 |  $SBGI | Sinclair, Inc. | $13.5M | 0.5% | +0% | 34.8 |
| 69 |  $AEXA | American Exceptionalism Acquisition Corp. A | $13.3M | 0.4% | +0% | — |
| 70 |  $VG | Venture Global, Inc. | $13.1M | 0.4% | NEW | 69 |
| 71 |  $ACIC | AMERICAN COASTAL INSURANCE Corp | $12.7M | 0.4% | +20% | 64 |
| 72 |  $LLYVA | Liberty Live Holdings, Inc. | $12.6M | 0.4% | +0% | — |
| 73 |  $TDS | TELEPHONE & DATA SYSTEMS INC /DE/ | $12.6M | 0.4% | +0% | 42.2 |
| 74 |  $CTRI | Centuri Holdings, Inc. | $11.6M | 0.4% | -31% | 42.7 |
| 75 |  $LBRT | Liberty Energy Inc. | $11.5M | 0.4% | -67% | 42.6 |
| 76 | — | DAEDALUS SPL ACQUISITION COR | $11.2M | 0.4% | +0% | — |
| 77 | — | GCI LIBERTY INC | $10.9M | 0.4% | +0% | — |
| 78 |  $PENG | Penguin Solutions, Inc. | $10.5M | 0.3% | +0% | 46.7 |
| 79 |  $BP | BP PLC | $10.3M | 0.3% | NEW | — |
| 80 | — | COLOMBIER ACQUISITION CORP I | $10.2M | 0.3% | NEW | — |
| 81 |  $OXY | OCCIDENTAL PETROLEUM CORP /DE/ | $10.1M | 0.3% | +49% | 66.3 |
| 82 | — | HENNESSY CAP INVTS CORP VIII | $10.0M | 0.3% | NEW | — |
| 83 |  $RVMD | Revolution Medicines, Inc. | $10.0M | 0.3% | NEW | — |
| 84 |  $INVH | Invitation Homes Inc. | $9.6M | 0.3% | NEW | 59.7 |
| 85 |  $OACC | Oaktree Acquisition Corp. III Life Sciences | $9.6M | 0.3% | +0% | — |
| 86 |  $VHCP | Vine Hill Capital Investment Corp. II | $9.5M | 0.3% | +0% | — |
| 87 |  $AVB | AVALONBAY COMMUNITIES INC | $9.5M | 0.3% | NEW | 57.5 |
| 88 |  $DK | Delek US Holdings, Inc. | $9.4M | 0.3% | NEW | 33.9 |
| 89 |  $ARI | Apollo Commercial Real Estate Finance, Inc. | $9.3M | 0.3% | NEW | 53.5 |
| 90 |  $CPT | CAMDEN PROPERTY TRUST | $9.2M | 0.3% | NEW | 69.4 |
| 91 |  $CCI | CROWN CASTLE INC. | $8.7M | 0.3% | NEW | 52.9 |
| 92 |  $HNRG | HALLADOR ENERGY CO | $8.1M | 0.3% | NEW | 50.4 |
| 93 |  $EQT | EQT Corp | $7.0M | 0.2% | +54% | 83.3 |
| 94 |  $CTRA | Coterra Energy Inc. | $6.7M | 0.2% | +66% | 80.6 |
| 95 | $LLYVA | Liberty Live Holdings, Inc. | $6.6M | 0.2% | +0% | — |
| 96 |  $ITRI | ITRON, INC. | $6.3M | 0.2% | +25% | 64.4 |
| 97 |  $APA | APA Corp | $6.0M | 0.2% | NEW | — |
| 98 |  $VCICW | Vine Hill Capital Investment Corp. | $5.8M | 0.2% | +103% | — |
| 99 |  $VIR | Vir Biotechnology, Inc. | $4.7M | 0.2% | NEW | 5.6 |
| 100 |  $RRC | RANGE RESOURCES CORP | $4.6M | 0.1% | +0% | 82.8 |
| 101 | — | ORACLE CORP | $4.5M | 0.1% | NEW | — |
| 102 |  $AR | ANTERO RESOURCES Corp | $4.3M | 0.1% | +0% | 80.1 |
| 103 |  $AGI | ALAMOS GOLD INC | $4.0M | 0.1% | -55% | — |
| 104 |  $EXE | EXPAND ENERGY Corp | $3.8M | 0.1% | +0% | 83.9 |
| 105 |  $GLIBA | Liberty Capital Corp/NV | $3.7M | 0.1% | +0% | 30.3 |
| 106 | — | INFLEQTION INC | $3.4M | 0.1% | NEW | — |
| 107 |  $CRC | California Resources Corp | $3.3M | 0.1% | NEW | 50.2 |
| 108 | — | CANTOR EQUITY PARTNERS VI IN | $3.1M | 0.1% | NEW | — |
| 109 |  $PCSC | Perceptive Capital Solutions Corp | $3.1M | 0.1% | +0% | — |
| 110 |  $CEPF | Cantor Equity Partners IV, Inc. | $3.1M | 0.1% | +0% | — |
| 111 |  $CAEP | Cantor Equity Partners III, Inc. | $2.6M | 0.1% | +0% | — |
| 112 |  $CRK | COMSTOCK RESOURCES INC | $2.5M | 0.1% | +0% | 59.9 |
| 113 |  $SM | SM Energy Co | $2.3M | 0.1% | NEW | 66.6 |
| 114 |  $YSS | York Space Systems Inc. | $2.1M | 0.1% | NEW | — |
| 115 |  $ARKO | ARKO Corp. | $1.8M | 0.1% | NEW | 41.8 |
| 116 |  $UMAC | Unusual Machines, Inc. | $620,000 | 0.0% | NEW | 48.3 |
| 117 |  $FPS | Forgent Power Solutions, Inc. | $585,400 | 0.0% | NEW | — |
| 118 | $BCSS | Bain Capital GSS Investment Corp. | $494,760 | 0.0% | NEW | — |
| 119 | — | KARBON CAP PARTNERS CORP | $263,341 | 0.0% | -75% | — |
| 120 |  $THM | INTERNATIONAL TOWER HILL MINES LTD | $207,000 | 0.0% | NEW | — |
| 121 | $CCIX | Churchill Capital Corp IX/Cayman | $198,000 | 0.0% | +0% | — |
| 122 | — | DAEDALUS SPL ACQUISITION COR | $116,030 | 0.0% | -75% | — |
| 123 |  $COCH | Envoy Medical, Inc. | $4,980 | 0.0% | +0% | — |
| 124 |  $BENF | Beneficient | $1,400 | 0.0% | +0% | — |
New Positions (43)
$SPYPUT SPDR S&P 500 ETF TRUST$68.3M$EA ELECTRONIC ARTS INC.$46.3M$APO Apollo Global Management, Inc.$36.6M$FOXA Fox Corp$36.3M$RIG Transocean Ltd.$30.3M$MCW Mister Car Wash, Inc.$29.6M$PEN Penumbra Inc$27.9M$WAT WATERS CORP /DE/$27.4M$SNAP Snap Inc$25.3M$UNF UNIFIRST CORP$20.4M$SBAC SBA COMMUNICATIONS CORP$17.6MExited Positions (16)
$PCG PG&E Corp
$CVS CVS HEALTH Corp
$UNH UNITEDHEALTH GROUP INC
$THS TreeHouse Foods, Inc.
$MKSI MKS INC
$CRL CHARLES RIVER LABORATORIES INTERNATIONAL, INC.
$IQV IQVIA HOLDINGS INC.
$MDLZ Mondelez International, Inc.
$BXSL Blackstone Secured Lending Fund
$TFX TELEFLEX INC
$RNA Avidity Biosciences, Inc.
$LAD LITHIA MOTORS INC
$AEM AGNICO EAGLE MINES LTD
$CABO Cable One, Inc.Browse Top Institutional Investors
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