Institutional
Empyrean Capital Partners, LP
CIK 0001317195
$3.07B
Reported AUM
124
Positions
Q1 2026
Period
2026-05-15
Filed
The Brief · Empyrean Capital Partners, LP · Q1 2026
AI · grounded in 13F
Empyrean Capital Partners, LP exited its position in PCG for a reduction of $94.8M. The fund also closed positions in CVS and UNH, totaling $92.1M and $63.7M respectively. On the buy side, the fund established new positions in SPY for $68.3M and EA for $46.3M. Additionally, the fund increased its stake in NSC by 55.6%.
Portfolio · Q1 2026
Top holdings
QoQ vs Q4 2025
| # | Ticker | Issuer | Value | % of book | Δ shares (QoQ) | Status |
|---|---|---|---|---|---|---|
| 1 | AER | AERCAP HOLDINGS NV | $137.2M | 4.47% | -100,000 | -9.1% |
| 2 | BTI | BRITISH AMERN TOB PLC | $112.6M | 3.67% | -275,000 | -12.5% |
| 3 | SHEL | SHELL PLC | $106.2M | 3.46% | -558,300 | -32.8% |
| 4 | MPC | MARATHON PETE CORP | $97.2M | 3.17% | -38,400 | -8.8% |
| 5 | NSC | NORFOLK SOUTHN CORP | $91.0M | 2.96% | +113,300 | +55.6% |
| 6 | STZ | CONSTELLATION BRANDS INC | $90.9M | 2.96% | +19,500 | +3.3% |
| 7 | TXNM | TXNM ENERGY INC | $84.3M | 2.75% | — | HELD |
| 8 | AAMI | ACADIAN ASSET MANAGEMENT INC | $71.2M | 2.32% | -96,372 | -6.9% |
| 9 | WBD | WARNER BROS DISCOVERY INC | $70.9M | 2.31% | +583,000 | +29.1% |
| 10 | SPY | STATE STR SPDR S&P 500 ETF T | $68.3M | 2.22% | +105,000 | NEW |
| 11 | VISN | VISTANCE NETWORKS INC | $67.9M | 2.21% | +1,672,000 | +81.2% |
| 12 | NMRK | NEWMARK GROUP INC | $65.4M | 2.13% | — | HELD |
| 13 | UNP | UNION PAC CORP | $57.8M | 1.88% | -135,500 | -36.2% |
| 14 | AXTA | AXALTA COATING SYS LTD | $56.8M | 1.85% | — | HELD |
| 15 | VTOL | BRISTOW GROUP INC | $54.9M | 1.79% | -44,599 | -3.7% |
| 16 | ENVA | ENOVA INTL INC | $53.5M | 1.74% | -47,500 | -10.8% |
| 17 | CAH | CARDINAL HEALTH INC | $52.4M | 1.71% | — | HELD |
| 18 | VSAT | VIASAT INC | $52.1M | 1.70% | — | HELD |
| 19 | VSH 2.25 09/15/30 | VISHAY INTERTECHNOLOGY INC | $49.8M | 1.62% | +8,000,000 | +18.2% |
| 20 | LBRDK | LIBERTY BROADBAND CORP | $46.3M | 1.51% | — | HELD |
| 21 | EA | ELECTRONIC ARTS INC | $46.3M | 1.51% | +227,000 | NEW |
| 22 | PSX | PHILLIPS 66 | $43.0M | 1.40% | -28,600 | -10.8% |
| 23 | BCSS | BAIN CAP GSS INVT CORP | $40.3M | 1.31% | +3,990,000 | NEW |
| 24 | CMCSA | COMCAST CORP NEW | $38.6M | 1.26% | +476,300 | +54.8% |
| 25 | APO | APOLLO GLOBAL MGMT INC | $36.6M | 1.19% | +328,200 | NEW |
| 26 | FOXA | FOX CORP | $36.3M | 1.18% | +622,000 | NEW |
| 27 | CCXIU | CHURCHILL CAP CORP XI | $35.9M | 1.17% | — | HELD |
| 28 | IAC | IAC INC | $32.8M | 1.07% | +143,000 | +21.1% |
| 29 | OPTU | OPTIMUM COMMUNICATIONS INC | $32.0M | 1.04% | -450,000 | -1.8% |
| 30 | RIG | TRANSOCEAN LTD | $30.3M | 0.99% | +4,570,463 | NEW |
| 31 | ASH | ASHLAND INC | $30.1M | 0.98% | — | HELD |
| 32 | KVUE | KENVUE INC | $29.9M | 0.97% | — | HELD |
| 33 | NNI | NELNET INC | $29.8M | 0.97% | — | HELD |
| 34 | MCW | MISTER CAR WASH INC | $29.6M | 0.96% | +4,250,000 | NEW |
| 35 | PD 1.5 10/15/28 * | PAGERDUTY INC | $29.5M | 0.96% | +3,950,000 | +13.9% |
| 36 | COF | CAPITAL ONE FINL CORP | $29.2M | 0.95% | -284,000 | -64.0% |
| 37 | ANIP 2.25 09/01/29 | ANI PHARMACEUTICALS INC | $29.1M | 0.95% | +2,500,000 | +11.9% |
| 38 | CCIX | CHURCHILL CAPITAL CORP IX | $28.1M | 0.92% | — | HELD |
| 39 | PEN | PENUMBRA INC | $27.9M | 0.91% | +85,000 | NEW |
| 40 | WAT | WATERS CORP | $27.4M | 0.89% | +92,000 | NEW |
| 41 | B | BARRICK MNG CORP | $27.2M | 0.89% | -153,200 | -18.7% |
| 42 | SATS | ECHOSTAR CORP | $26.7M | 0.87% | +39,000 | +20.6% |
| 43 | KBON | KARBON CAP PARTNERS CORP | $26.5M | 0.86% | +2,632,752 | NEW |
| 44 | SNAP | SNAP INC | $25.3M | 0.82% | +5,500,000 | NEW |
| 45 | LBRDA | LIBERTY BROADBAND CORP | $25.1M | 0.82% | — | HELD |
| 46 | FVAV | FORTRESS VALUE ACQU CORP V | $24.8M | 0.81% | +2,475,000 | NEW |
| 47 | ON 0.5 03/01/29 | ON SEMICONDUCTOR CORP | $24.5M | 0.80% | — | HELD |
| 48 | NG | NOVAGOLD RESOURCES INC | $24.2M | 0.79% | -5,100 | -0.2% |
| 49 | QRVO | QORVO INC | $23.9M | 0.78% | — | HELD |
| 50 | PPTA | PERPETUA RESOURCES CORP | $23.6M | 0.77% | -188,853 | -18.4% |
| 51 | RAC | RITHM ACQUISITION CORP | $23.2M | 0.76% | +840,487 | +60.5% |
| 52 | NN | NEXTNAV INC | $22.9M | 0.75% | -454,000 | -24.1% |
| 53 | IGV | ISHARES TR | $22.9M | 0.75% | +286,000 | NEW |
| 54 | UNF | UNIFIRST CORP MASS | $20.4M | 0.66% | +81,000 | NEW |
| 55 | MTAL/U | METALS ACQUISITION CORP II | $20.0M | 0.65% | +1,980,000 | NEW |
| 56 | AMPH 2 03/15/29 | AMPHASTAR PHARMACEUTICALS IN | $18.2M | 0.59% | +4,000,000 | +24.6% |
| 57 | KMB | KIMBERLY-CLARK CORP | $18.1M | 0.59% | — | HELD |
| 58 | KPET/U | KPET ULTRA PACELINE CORP | $18.0M | 0.59% | +1,800,000 | NEW |
| 59 | SBAC | SBA COMMUNICATIONS CORP | $17.6M | 0.57% | +102,000 | NEW |
| 60 | SNCY | SUN CTRY AIRLS HLDGS INC | $17.1M | 0.56% | +394,499 | +61.6% |
| 61 | AMBP | ARDAGH METAL PACKAGING S A | $16.2M | 0.53% | — | HELD |
| 62 | SIRI | SIRIUSXM HOLDINGS INC | $16.0M | 0.52% | — | HELD |
| 63 | CAKE 2 03/15/30 | CHEESECAKE FACTORY INC | $15.8M | 0.51% | +15,500,000 | NEW |
| 64 | IEAGU | INFINITE EAGLE ACQUISITION C | $15.2M | 0.50% | +1,499,000 | NEW |
| 65 | GTEN | GORES HLDGS X INC | $15.1M | 0.49% | — | HELD |
| 66 | VSNT | VERSANT MEDIA GROUP INC | $14.2M | 0.46% | +384,748 | NEW |
| 67 | OIMAU | ONEIM ACQUISITION CORP | $13.7M | 0.45% | +1,358,140 | NEW |
| 68 | SBGI | SINCLAIR INC | $13.5M | 0.44% | — | HELD |
| 69 | AEXA | AMERICAN EXCEPTIONALISM ACQU | $13.3M | 0.43% | — | HELD |
| 70 | VG | VENTURE GLOBAL INC | $13.1M | 0.43% | +831,000 | NEW |
| 71 | ACIC | AMERICAN COASTAL INS CORP | $12.7M | 0.41% | +186,487 | +19.8% |
| 72 | LLYVK | LIBERTY LIVE HOLDINGS INC | $12.6M | 0.41% | — | HELD |
| 73 | TDS | TELEPHONE & DATA SYS INC | $12.6M | 0.41% | — | HELD |
| 74 | CTRI | CENTURI HOLDINGS INC | $11.6M | 0.38% | -181,000 | -31.3% |
| 75 | LBRT | LIBERTY ENERGY INC | $11.5M | 0.38% | -800,000 | -66.7% |
| 76 | DSAC | DAEDALUS SPL ACQUISITION COR | $11.2M | 0.37% | +1,132,000 | NEW |
| 77 | GLIBK | GCI LIBERTY INC | $10.9M | 0.36% | — | HELD |
| 78 | PENG 2 08/15/30 | PENGUIN SOLUTIONS INC | $10.5M | 0.34% | — | HELD |
| 79 | BP | BP PLC | $10.3M | 0.34% | +220,000 | NEW |
| 80 | CLBR/U | COLOMBIER ACQUISITION CORP I | $10.2M | 0.33% | +1,000,000 | NEW |
| 81 | OXY | OCCIDENTAL PETE CORP | $10.1M | 0.33% | +51,000 | +48.6% |
| 82 | HCICU | HENNESSY CAP INVTS CORP VIII | $10.0M | 0.33% | +1,000,000 | NEW |
| 83 | RVMD | REVOLUTION MEDICINES INC | $10.0M | 0.32% | +102,400 | NEW |
| 84 | INVH | INVITATION HOMES INC | $9.6M | 0.31% | +385,000 | NEW |
| 85 | OACC | OAKTREE ACQUISITION CORP III | $9.6M | 0.31% | — | HELD |
| 86 | VHCPU | VINE HILL CAP INVTS CORP II | $9.5M | 0.31% | — | HELD |
| 87 | AVB | AVALONBAY CMNTYS INC | $9.5M | 0.31% | +58,000 | NEW |
| 88 | DK | DELEK US HLDGS INC NEW | $9.4M | 0.31% | +208,700 | NEW |
| 89 | ARI | APOLLO COML REAL ESTATE FIN | $9.3M | 0.30% | +883,751 | NEW |
| 90 | CPT | CAMDEN PPTY TR | $9.2M | 0.30% | +94,000 | NEW |
| 91 | CCI | CROWN CASTLE INC | $8.7M | 0.28% | +107,000 | NEW |
| 92 | HNRG | HALLADOR ENERGY COMPANY | $8.1M | 0.27% | +500,000 | NEW |
| 93 | EQT | EQT CORP | $7.0M | 0.23% | +38,800 | +54.2% |
| 94 | CTRA | COTERRA ENERGY INC | $6.7M | 0.22% | +76,600 | +66.4% |
| 95 | LLYVA | LIBERTY LIVE HOLDINGS INC | $6.6M | 0.22% | — | HELD |
| 96 | ITRI 1.375 07/15/30 | ITRON INC | $6.3M | 0.20% | +1,250,000 | +25.0% |
| 97 | APA | APA CORPORATION | $6.0M | 0.20% | +142,000 | NEW |
| 98 | — | VINE HILL CAP INVT CORP. | $5.8M | 0.19% | +274,694 | +103.2% |
| 99 | VIR | VIR BIOTECHNOLOGY INC | $4.7M | 0.15% | +527,800 | NEW |
| 100 | RRC | RANGE RES CORP | $4.6M | 0.15% | — | HELD |
| 101 | ORCL 6.5 01/15/29 D | ORACLE CORP | $4.5M | 0.15% | +100,000 | NEW |
| 102 | AR | ANTERO RESOURCES CORP | $4.3M | 0.14% | — | HELD |
| 103 | AGI | ALAMOS GOLD INC | $4.0M | 0.13% | -112,300 | -55.2% |
| 104 | EXE | EXPAND ENERGY CORPORATION | $3.8M | 0.12% | — | HELD |
| 105 | GLIBA | GCI LIBERTY INC | $3.7M | 0.12% | — | HELD |
| 106 | INFQ/WS | INFLEQTION INC | $3.4M | 0.11% | +762,500 | NEW |
| 107 | CRC | CALIFORNIA RES CORP | $3.3M | 0.11% | +48,000 | NEW |
| 108 | CEPS | CANTOR EQUITY PARTNERS VI IN | $3.1M | 0.10% | +309,050 | NEW |
| 109 | PCSC | PERCEPTIVE CAP SOLUTIONS COR | $3.1M | 0.10% | — | HELD |
| 110 | CEPF | CANTOR EQUITY PARTNERS IV IN | $3.1M | 0.10% | — | HELD |
| 111 | CAEP | CANTOR EQUITY PARTNERS III I | $2.6M | 0.08% | — | HELD |
| 112 | CRK | COMSTOCK RES INC | $2.5M | 0.08% | — | HELD |
| 113 | SM | SM ENERGY COMPANY | $2.3M | 0.08% | +74,000 | NEW |
| 114 | YSS | YORK SPACE SYSTEMS INC | $2.1M | 0.07% | +95,000 | NEW |
| 115 | ARKO | ARKO CORP | $1.8M | 0.06% | +327,155 | NEW |
| 116 | UMAC | UNUSUAL MACHS INC | $620K | 0.02% | +50,000 | NEW |
| 117 | FPS | FORGENT POWER SOLUTIONS INC | $585K | 0.02% | +20,000 | NEW |
| 118 | BCSS/WS | BAIN CAP GSS INVT CORP | $495K | 0.02% | +798,000 | NEW |
| 119 | KBONW | KARBON CAP PARTNERS CORP | $263K | 0.01% | +658,188 | NEW |
| 120 | THM | INTERNATIONAL TOWER HILL MIN | $207K | 0.01% | +90,000 | NEW |
| 121 | CCIXW | CHURCHILL CAPITAL CORP IX | $198K | 0.01% | — | HELD |
| 122 | DSACW | DAEDALUS SPL ACQUISITION COR | $116K | 0.00% | +283,000 | NEW |
| 123 | COCHW | ENVOY MEDICAL INC | $5K | 0.00% | — | HELD |
| 124 | BENFW | BENEFICIENT | $1K | 0.00% | — | HELD |
| 125 | PCG | PG&E CORP | — | — | -5,900,000 | EXITED |
| 126 | CVS | CVS HEALTH CORP | — | — | -1,160,000 | EXITED |
| 127 | UNH | UNITEDHEALTH GROUP INC | — | — | -193,000 | EXITED |
| 128 | BCSS/U | BAIN CAP GSS INVT CORP | — | — | -3,990,000 | EXITED |
| 129 | THS | TREEHOUSE FOODS INC | — | — | -1,320,000 | EXITED |
| 130 | MKSI 1.25 06/01/30 | MKS INC. | — | — | -23,800,000 | EXITED |
| 131 | KBONU | KARBON CAP PARTNERS CORP | — | — | -2,632,752 | EXITED |
| 132 | CRL | CHARLES RIV LABS INTL INC | — | — | -121,500 | EXITED |
| 133 | IQV | IQVIA HLDGS INC | — | — | -104,650 | EXITED |
| 134 | MDLZ | MONDELEZ INTL INC | — | — | -418,000 | EXITED |
| 135 | BXSL | BLACKSTONE SECD LENDING FD | — | — | -765,000 | EXITED |
| 136 | TFX | TELEFLEX INCORPORATED | — | — | -118,000 | EXITED |
| 137 | DSACU | DAEDALUS SPL ACQUISITION COR | — | — | -1,132,000 | EXITED |
| 138 | RNAGBP | AVIDITY BIOSCIENCES INC | — | — | -143,000 | EXITED |
| 139 | INFQ/WS | CHURCHILL CAP CORP X | — | — | -762,500 | EXITED |
| 140 | LAD | LITHIA MTRS INC | — | — | -15,400 | EXITED |
| 141 | AEM | AGNICO EAGLE MINES LTD | — | — | -27,700 | EXITED |
| 142 | CABO 0 03/15/26 | CABLE ONE INC | — | — | -4,000,000 | EXITED |
| 143 | BL 1 06/01/29 | BLACKLINE INC | — | — | -1,500,000 | EXITED |
Source: SEC EDGAR · accession 0001317195-26-000002. 13F discloses long positions only — shorts, foreign equities, and options are excluded.