Empyrean Capital Partners, LP
Sector Allocation
- Financials18.3%$518.9M
- Communication Services14.9%$423.8M
- Industrials14.2%$403.7M
- Energy9.8%$277.1M
- Consumer Staples9.1%$258.1M
- Other8.9%$253.1M
- Real Estate6.5%$185.9M
- Technology6.0%$169.0M
- Healthcare5.2%$148.1M
- Materials3.0%$86.7M
AUM History
13fpro.ai/research/fund/empyrean-capital-partners-lp-1317195
Conviction and streaks
Concentrating · top 10 = 35.5%From the fund's last 12 quarters of 13F filings: positions held longest at size, and names it added to or trimmed several quarters running.
Largest positions — Q2 2026
VSAT
$174.4MAER
$131.2MBTI
$118.9MMPC
$101.1MENVA
$94.1MAAMI
$93.5MNSC
$88.0MUNP
$76.8MNMRK
$65.9MBXDC
$64.6MAPO
$63.9MCOF
$60.2M- CHURCHILL$55.0M
SGI
$49.5MWBD
$47.5MTXNM
$46.1MSHEL
$45.3MROKU
$44.2MVTOL
$44.1MCAH
$43.8M
Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.
13fpro.ai/research/fund/empyrean-capital-partners-lp-1317195
Empyrean Capital Partners, LP 13F holdings — Q2 2026
$3.0B portfolio (-1.4% QoQ) · 122 holdings · Q2 2026 13F · top 10 are 36% of the stock portfolio
Includes $185.4M of put/call options ($185.4M puts, $0 calls), which 13F rules report at the value of the underlying shares, not the premium at risk. Stocks alone: $2.8B. Weights use the stock portfolio.
$174.4M
6.1% of stocks
+71%This quarter-19.9%Since filed4 qtrsHeld$131.2M
4.6% of stocks
-10%This quarter-3.0%Since filed10+ qtrsHeld$118.9M
4.2% of stocks
No changeThis quarter+5.3%Since filed5 qtrsHeld$101.1M
3.6% of stocks
-0.6%This quarter+32.4%Since filed6 qtrsHeld$94.1M
3.3% of stocks
-0.8%This quarter-36.0%Since filed10+ qtrsHeld$93.5M
3.3% of stocks
-0.0%This quarter+1.0%Since filed10+ qtrsHeld$88.0M
3.1% of stocks
-12%This quarter-0.1%Since filed4 qtrsHeld$76.8M
2.7% of stocks
+18%This quarter+1.1%Since filed4 qtrsHeld$65.9M
2.3% of stocks
No changeThis quarter-25.6%Since filed10+ qtrsHeld$64.6M
2.3% of stocks
NewThis quarter-22.9%Since filedNew this quarterHeld
All holdings — Empyrean Capital Partners, LP (Q2 2026)
122 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated.
| # | Company | Held | Source | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 11 | SPDR S&P 500 ETF TRUST | — | $65.3M | — | 88K | -17% | — | — | 13F | |
| 12 | Apollo Global Management, Inc. | Financials | $63.9M | 2.3% | 540K | +65% | 2 qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 13 | CAPITAL ONE FINANCIAL CORP | Financials | $60.2M | 2.1% | 300K | +88% | 5 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 14 | — | CHURCHILL CAP CORP XI - CL A ORD SHS | — | $55.0M | 1.9% | 3.15M | New | — | — | 13F |
| 15 | — PUT | ISHARES TR - RUSSELL 2000 ETF | — | $54.1M | — | 180K | New | — | — | 13F |
| 16 | SOMNIGROUP INTERNATIONAL INC. | Consumer Discretionary | $49.5M | 1.7% | 632K | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 17 | Warner Bros. Discovery, Inc. | Communication Services | $47.5M | 1.7% | 1.78M | -31% | 3 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 18 | TXNM ENERGY INC | Utilities | $46.1M | 1.6% | 813K | -44% | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 19 | Shell plcadr | Energy | $45.3M | 1.6% | 584K | -49% | 9 qtrsTrimmed 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 20 | ROKU, INC | Communication Services | $44.2M | 1.6% | 320K | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 21 | Bristow Group Inc. | Industrials | $44.1M | 1.6% | 1.07M | -9% | 10+ qtrsTrimmed 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 22 | CARDINAL HEALTH INC | Consumer Staples | $43.8M | 1.5% | 184K | -26% | 6 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 23 | Bain Capital GSS Investment Corp. | Financials | $41.0M | 1.4% | 3.99M | — | 4 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 24 | WATERS CORP /DE/ | Healthcare | $39.6M | 1.4% | 106K | +15% | 2 qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 25 | ASHLAND INC. | Consumer Staples | $35.7M | 1.3% | 542K | — | 3 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 26 | $QQQ PUT | INVESCO QQQ TRUST, SERIES 1 | — | $33.1M | — | 45K | New | |||
| 27 | $KVUE | Kenvue Inc. | Consumer Staples | $33.1M | 1.2% | 1.73M | — | |||
| 28 | — PUT | VANECK ETF TRUST - SEMICONDUCTR ETF | — | $32.8M | — | 50K | New | |||
| 29 | $EA | ELECTRONIC ARTS INC. | Technology | $31.2M | 1.1% | 152K | -33% | |||
| 30 | $NNI | NELNET INC | Financials | $30.8M | 1.1% | 231K | — | |||
| 31 | $LBRDA | Liberty Broadband Corp | Communication Services | $30.6M | 1.1% | 921K | — | |||
| 32 | $ANIP | ANI PHARMACEUTICALS INC | Healthcare | $29.7M | 1.1% | 23.00M | -2% | |||
| 33 | $CXII | Churchill Capital Corp XII | Financials | $29.2M | 1.0% | 2.70M | New | |||
| 34 | $QRVO | Qorvo, Inc. | Technology | $28.8M | 1.0% | 309K | — | |||
| 35 | $CCIX | Churchill Capital Corp IX/Cayman | Technology | $28.7M | 1.0% | 2.63M | — | |||
| 36 | $PD | PagerDuty, Inc. | Technology | $28.0M | 1.0% | 29.85M | -8% | |||
| 37 | $AESI | Atlas Energy Solutions Inc. | Energy | $26.9M | 0.9% | 1.62M | New | |||
| 38 | $PEN | Penumbra Inc | Healthcare | $26.8M | 0.9% | 85K | — | |||
| 39 | — | KARBON CAP PARTNERS CORP - ORD SHS CL A | — | $26.6M | 0.9% | 2.63M | — | |||
| 40 | $PSX | Phillips 66 | Energy | $25.3M | 0.9% | 150K | -37% | |||
| 41 | $STZ | CONSTELLATION BRANDS, INC. | Consumer Staples | $25.2M | 0.9% | 181K | -70% | |||
| 42 | — | FORTRESS VALUE ACQU CORP V - ORD SHS CL A | — | $25.0M | 0.9% | 2.48M | — | |||
| 43 | — | AMPHASTAR PHARMACEUTICALS IN - NOTE 2.000% 3/1 | — | $22.0M | 0.8% | 24.27M | +20% | |||
| 44 | $WULF | TERAWULF INC. | Financials | $21.8M | 0.8% | 882K | New | |||
| 45 | $UNF | UNIFIRST CORP | Consumer Discretionary | $21.4M | 0.8% | 81K | — | |||
| 46 | $GCGR | General Catalyst Global Resilience Merger Corp. | Financials | $20.6M | 0.7% | 2.00M | New | |||
| 47 | $KMB | KIMBERLY CLARK CORP | Materials | $20.5M | 0.7% | 187K | — | |||
| 48 | $SIRI | SIRIUS XM HOLDINGS INC. | Communication Services | $20.5M | 0.7% | 693K | — | |||
| 49 | — | DOORDASH INC - NOTE 5/1 | — | $20.3M | 0.7% | 20.50M | New | |||
| 50 | $B | BARRICK MINING CORP | Materials | $20.2M | 0.7% | 550K | -18% | |||
| 51 | $MTAL | Metals Acquisition Corp. II | Financials | $20.1M | 0.7% | 1.98M | New | |||
| 52 | $HONA | Honeywell Aerospace Inc. | Industrials | $19.9M | 0.7% | 90K | New | |||
| 53 | — | CHEESECAKE FACTORY INC - NOTE 2.000% 3/1 | — | $19.7M | 0.7% | 15.50M | — | |||
| 54 | $AMBP | Ardagh Metal Packaging S.A. | Industrials | $19.0M | 0.7% | 4.00M | — | |||
| 55 | $ALGT | Allegiant Travel CO | Industrials | $18.9M | 0.7% | 161K | New | |||
| 56 | — | CLOUDFLARE INC - NOTE 6/1 | — | $18.8M | 0.7% | 14.76M | New | |||
| 57 | — | RIVIAN AUTOMOTIVE INC - NOTE 4.625% 3/1 | — | $17.7M | 0.6% | 15.00M | New | |||
| 58 | $TNDM | TANDEM DIABETES CARE INC | Healthcare | $17.7M | 0.6% | 18.50M | New | |||
| 59 | $LBRDA | Liberty Broadband Corp | Communication Services | $16.6M | 0.6% | 500K | — | |||
| 60 | $SITM | SITIME Corp | Technology | $16.6M | 0.6% | 15.00M | New | |||
| 61 | $BP | BP PLC | Energy | $16.1M | 0.6% | 435K | +98% | |||
| 62 | $CPT | CAMDEN PROPERTY TRUST | Real Estate | $15.7M | 0.6% | 137K | +46% | |||
| 63 | $FWONA | Liberty Media Corp | Communication Services | $15.6M | 0.6% | 164K | New | |||
| 64 | $GTEN | Gores Holdings X, Inc. / CI | Financials | $15.4M | 0.5% | 1.48M | — | |||
| 65 | $INVH | Invitation Homes Inc. | Real Estate | $15.2M | 0.5% | 503K | +31% | |||
| 66 | — | INFINITE EAGLE ACQUISITION C - CL A | — | $15.2M | 0.5% | 1.50M | New | |||
| 67 | $AVB | AVALONBAY COMMUNITIES INC | Real Estate | $15.1M | 0.5% | 80K | +38% | |||
| 68 | $LLYVA | Liberty Live Holdings, Inc. | Communication Services | $14.2M | 0.5% | 134K | — | |||
| 69 | $RVMD | Revolution Medicines, Inc. | Healthcare | $14.1M | 0.5% | 75K | -26% | |||
| 70 | $PPTA | PERPETUA RESOURCES CORP. | Materials | $14.1M | 0.5% | 677K | -19% | |||
| 71 | $NG | NOVAGOLD RESOURCES INC | Materials | $13.8M | 0.5% | 2.31M | -14% | |||
| 72 | — | ONEIM ACQUISITION CORP - ORD SHS CL A | — | $13.7M | 0.5% | 1.36M | New | |||
| 73 | $TFX | TELEFLEX INC | Healthcare | $13.6M | 0.5% | 107K | New | |||
| 74 | $DK | Delek US Holdings, Inc. | Energy | $13.5M | 0.5% | 265K | +27% | |||
| 75 | $SBGI | Sinclair, Inc. | Communication Services | $13.5M | 0.5% | 944K | -10% | |||
| 76 | $AEXA | American Exceptionalism Acquisition Corp. A | Financials | $13.0M | 0.5% | 1.10M | -11% | |||
| 77 | $CTRI | Centuri Holdings, Inc. | Energy | $12.5M | 0.4% | 414K | +4% | |||
| 78 | $ECHO | EchoStar CORP | Communication Services | $12.1M | 0.4% | 119K | -48% | |||
| 79 | $AXTA | Axalta Coating Systems Ltd. | Materials | $11.5M | 0.4% | 337K | -84% | |||
| 80 | $TRIP | TripAdvisor, Inc. | Technology | $11.3M | 0.4% | 827K | New | |||
| 81 | — | COLOMBIER ACQUISITION CORP I - ORD SHS CL A | — | $10.3M | 0.4% | 1.00M | New | |||
| 82 | $SNAP | Snap Inc | Technology | $10.2M | 0.4% | 2.30M | -58% | |||
| 83 | $OACC | Oaktree Acquisition Corp. III Life Sciences | Financials | $9.6M | 0.3% | 900K | — | |||
| 84 | $ARI | Apollo Commercial Real Estate Finance, Inc. | Real Estate | $9.4M | 0.3% | 884K | — | |||
| 85 | $ITRI | ITRON, INC. | Technology | $9.2M | 0.3% | 9.16M | +47% | |||
| 86 | $TDS | TELEPHONE & DATA SYSTEMS INC /DE/ | Communication Services | $9.1M | 0.3% | 245K | -18% | |||
| 87 | $LION | Lionsgate Studios Corp. | Communication Services | $7.6M | 0.3% | 494K | New | |||
| 88 | $LLYVA | Liberty Live Holdings, Inc. | Communication Services | $7.3M | 0.3% | 72K | — | |||
| 89 | $OPTU | Optimum Communications, Inc. | Communication Services | $6.4M | 0.2% | 14.04M | -43% | |||
| 90 | $EQT | EQT Corp | Energy | $5.9M | 0.2% | 110K | — | |||
| 91 | $ETSY | ETSY INC | Industrials | $5.8M | 0.2% | 5.00M | New | |||
| 92 | $DVN | DEVON ENERGY CORP/DE | Energy | $5.6M | 0.2% | 134K | New | |||
| 93 | — | INFLEQTION INC - *W EXP 02/17/203 | — | $5.2M | 0.2% | 763K | — | |||
| 94 | $OXY | OCCIDENTAL PETROLEUM CORP /DE/ | Energy | $5.1M | 0.2% | 105K | -33% | |||
| 95 | $VG | Venture Global, Inc. | Energy | $5.0M | 0.2% | 451K | -46% | |||
| 96 | $ALRM | Alarm.com Holdings, Inc. | Technology | $4.7M | 0.2% | 5.00M | New | |||
| 97 | $TDAY | USA TODAY Co., Inc. | Communication Services | $4.3M | 0.1% | 500K | New | |||
| 98 | $RRC | RANGE RESOURCES CORP | Energy | $3.8M | 0.1% | 101K | — | |||
| 99 | $AR | ANTERO RESOURCES Corp | Energy | $3.6M | 0.1% | 101K | — | |||
| 100 | $EXE | EXPAND ENERGY Corp | Energy | $3.1M | 0.1% | 35K | — | |||
| 101 | $SSMR | Sunshine Silver Mining & Refining Co | Materials | $3.1M | 0.1% | 237K | New | |||
| 102 | $INBX | Inhibrx Biosciences, Inc. | Healthcare | $2.8M | 0.1% | 30K | New | |||
| 103 | $AGI | ALAMOS GOLD INC | Materials | $2.8M | 0.1% | 91K | — | |||
| 104 | $PUMP | ProPetro Holding Corp. | Energy | $2.7M | 0.1% | 189K | New | |||
| 105 | — | CHURCHILL CAP CORP XI - *W EXP 12/10/203 | — | $2.6M | 0.1% | 350K | New | |||
| 106 | $ACIC | AMERICAN COASTAL INSURANCE Corp | Financials | $2.6M | 0.1% | 231K | -80% | |||
| 107 | $CC | Chemours Co | Healthcare | $2.5M | 0.1% | 124K | New | |||
| 108 | $UWMC | UWM Holdings Corp | Financials | $1.9M | 0.1% | 815K | New | |||
| 109 | $CRK | COMSTOCK RESOURCES INC | Energy | $1.8M | 0.1% | 119K | — | |||
| 110 | $MGPI | MGP INGREDIENTS INC | Consumer Staples | $1.5M | 0.1% | 1.50M | New | |||
| 111 | $VIR | Vir Biotechnology, Inc. | Healthcare | $1.2M | 0.0% | 114K | -78% | |||
| 112 | $MTAL | Metals Acquisition Corp. II | Financials | $726K | 0.0% | 660K | New | |||
| 113 | $BCSS | Bain Capital GSS Investment Corp. | Financials | $543K | 0.0% | 798K | — | |||
| 114 | — | KARBON CAP PARTNERS CORP - *W EXP 12/11/203 | — | $494K | 0.0% | 658K | — | |||
| 115 | $REA | Rare Earths Americas, Inc. | Materials | $458K | 0.0% | 30K | New | |||
| 116 | $CCIX | Churchill Capital Corp IX/Cayman | Technology | $343K | 0.0% | 440K | — | |||
| 117 | — | INFINITE EAGLE ACQUISITION C - RIGHT 01/13/2031 | — | $292K | 0.0% | 1.50M | New | |||
| 118 | — | ONEIM ACQUISITION CORP - *W EXP 01/07/203 | — | $181K | 0.0% | 226K | New | |||
| 119 | $THM | INTERNATIONAL TOWER HILL MINES LTD | Materials | $179K | 0.0% | 90K | — | |||
| 120 | — | COLOMBIER ACQUISITION CORP I - *W EXP 12/31/203 | — | $100K | 0.0% | 125K | New | |||
| 121 | $COCH | Envoy Medical, Inc. | Healthcare | $4K | 0.0% | 75K | — | |||
| 122 | $BENF | Beneficient | Financials | $1K | 0.0% | 100K | — |
What changed in Q2 2026
Against the previous quarter's 13F: 42 new, 13 added to, 31 trimmed, 44 sold out. Share-count changes; largest moves by dollar size first.
New positions (42)
first bought this quarter
- CHURCHILL CAP CORP XI - CL A ORD SHS$55.0M
first bought this quarter
- PUTISHARES TR - RUSSELL 2000 ETF$54.1M
first bought this quarter
first bought this quarter
first bought this quarter
$QQQPUTINVESCO QQQ TRUST, SERIES 1$33.1M
first bought this quarter
+36 more in the Excel export
Added to (13)
now $174.4M · held 4 qtrs
now $60.2M · held 5 qtrs
now $63.9M · held 2 qtrs, 2 adds in a row
now $76.8M · held 4 qtrs
$BPBP PLC+98%
now $16.1M · held 2 qtrs, 2 adds in a row
$WATWATERS CORP /DE/+15%
now $39.6M · held 2 qtrs, 2 adds in a row
+7 more in the Excel export
Trimmed (31)
$STZCONSTELLATION BRANDS, INC.-70%
now $25.2M · held 4 qtrs
$AXTAAxalta Coating Systems Ltd.-84%
now $11.5M · held 3 qtrs
now $45.3M · held 9 qtrs, 3 trims in a row
now $46.1M · held 10+ qtrs
now $47.5M · held 3 qtrs
$EAELECTRONIC ARTS INC.-33%
now $31.2M · held 2 qtrs
+25 more in the Excel export
Holdings by quarter
Every 13F Empyrean Capital Partners, LP has filed, 41 earlier quarters. Pick one to see what it held then.
Is it too late to follow Empyrean Capital Partners?
Q2 2026 13F filed with the SEC on Aug 14, 2026. Prices are closing prices as of Oct 26, 2026.
Average quality of Empyrean Capital Partners's top 20 holdings: 62/100 (our AI quality score, weighted by position size; 16 of the 20 are scored)
Top 10 since filing
-6.3%
Value-weighted move of the 10 largest stock positions
Turnover
26%
Last quarter; 93% over the last 4
Top 10 weight
36%
Share of the stock portfolio in its 10 largest positions
Held 4+ quarters
62%
Share of portfolio value in positions held a year or more
Highest-quality names it owns(among its 100 largest positions)
The 8 highest-scoring companies in this portfolio are a Pro feature.
How these are measured
- Moves since the quarter-end and since the filing date use our own daily closing prices, from the close on (or just before) each date to the latest close.
- Turnover is the lesser of shares bought or sold in a quarter, valued at the quarter-end prices in the 13F, divided by the average of the two quarters' stock portfolio values.
- Quarters held and add/trim streaks count back only through quarters whose filed holdings add up to the filing's own cover-page total (back to Q1 2024 for this fund). A change counts as an add or a trim when the split-adjusted share count moves by more than 1%.
- Estimate, not the fund's reported cost. For each quarter in the current holding period in which the fund's share count rose (split-adjusted), we take that quarter's average daily close and weight it by the shares added; sales do not change an average cost. Quarters where the stock's price history and the 13F's own implied price disagree by more than 2x are left out.
- Put and call option rows report the value of the underlying shares, not a position the fund paid for, so they are left out of all of the above.
Portfolio Overview
Empyrean Capital Partners, LP disclosed 122 positions worth $3.0B in its Form 13F-HR for Q2 2026 — $2.8B in common stock plus $185.4M of put/call option positions (reported at underlying notional value, not premium at risk), led by $VSAT (VIASAT INC) at 6.1% of the equity portfolio, followed by $AER and $BTI. During the quarter the fund opened 42 new positions and exited 44 — including a new stake in $BXDC and a full exit from $VISN. The portfolio is most concentrated in Financials (18.3% of disclosed assets). All figures are sourced directly from Empyrean Capital Partners, LP’s Form 13F-HR filing with the SEC under CIK 1317195.
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Every holding in Empyrean Capital Partners, LP's portfolio is scored on an AI quality ranking built from its SEC filings (ROIC, FCF margin, revenue growth, institutional flow, earnings quality, shareholder dilution, and more). Track accumulation and distribution quarter over quarter, identify conviction positions, and see AI stock analysis for each position — alongside 8,700+ other institutional filers and 2,800+ AI-ranked companies.