Empyrean Capital Partners, LP

CIK

1317195

Location

LOS ANGELES, CA

Portfolio Value

Mid $2,653,164,962

Diversification

Diversified

Filing Date

Global Rank

#1,009 / 8,603 ▲ 65 · as of Mar 2026

Top Industry

Shell Companies 8.1%

3Y Alpha vs SPY

-28.7%

Period ended 3 months ago

Filed May 15, 2026 · 55d

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

-23.2%

SPY

+76.5%

Annualised alpha

-29.3%

Max drawdown

−42.0%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

96 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

5.2%

−1.3 pts

Top 5

20.5%

−4.4 pts

Top 10

35.0%

−7.0 pts

HHI

211

Diversified−69

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Financial Services	16.7%	$442,882,438	20
Energy	16.1%	$426,679,780	19
Communication Services	15.1%	$400,710,218	15
Industrials	12.3%	$326,164,309	7
Consumer Defensive	9.5%	$251,403,614	4
Technology	6.3%	$167,520,040	5
Basic Materials	6.3%	$166,282,112	7
Real Estate	4.9%	$129,168,038	7
Healthcare	4.6%	$122,359,156	5
Utilities	3.9%	$104,068,076	3
Unclassified	2.6%	$68,285,700	1
Consumer Cyclical	1.8%	$47,641,481	3

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

14 positions

Ticker	Company	Δ Shares	Shares	Value
VISN	Vistance Networks, Inc.	+1,672,000	3,732,000	$67,922,400
RAC	Rithm Acquisition Corp.	+840,487	2,230,000	$23,192,000
WBD	Warner Bros. Discovery, Inc.	+583,000	2,583,000	$70,929,180
CMCSA	Comcast Corp	+476,300	1,345,000	$38,614,950
SNCY	Sun Country Airlines Holdings, LLC	+394,499	1,034,499	$17,089,923
VCIC	Vine Hill Capital Investment Corp.	+274,694	540,817	$5,948,987
ACIC	AMERICAN COASTAL INSURANCE Corp	+186,487	1,126,987	$12,678,603
PPLI	People Inc	+143,000	820,000	$32,824,600
NSC	Norfolk Southern Corp	+113,300	317,100	$91,007,700
CTRA	Coterra Energy Inc.	+76,600	192,000	$6,746,880
OXY	Occidental Petroleum Corp /De/	+51,000	155,900	$10,133,500
ECHO	EchoStar CORP	+39,000	228,000	$26,691,960
EQT	EQT Corp	+38,800	110,400	$7,025,856
STZ	Constellation Brands, Inc.	+19,500	606,200	$90,930,000
No positions match the current search.

Trimmed

Positions the filer reduced

18 positions

Ticker	Company	Δ Shares	Shares	Value
LBRT	Liberty Energy Inc.	−800,000	400,000	$11,520,000
SHEL	Shell plc	−558,300	1,141,700	$106,178,100
NN	Nextnav Inc.	−454,000	1,432,000	$22,940,640
OPTU	Optimum Communications, Inc.	−450,000	24,578,407	$31,951,929
COF	Capital One Financial Corp	−284,000	160,000	$29,188,800
BTI	British American Tobacco p.l.c.	−275,000	1,925,000	$112,554,750
PPTA	Perpetua Resources Corp.	−188,853	840,000	$23,620,800
CTRI	Centuri Holdings, Inc.	−181,000	397,000	$11,596,370
B	Barrick Mining Corp	−153,200	667,800	$27,239,562
UNP	Union Pacific Corp	−135,500	238,300	$57,816,346
AGI	Alamos Gold Inc	−112,300	91,000	$4,043,130
AER	AerCap Holdings N.V.	−100,000	1,000,000	$137,180,000
AAMI	Acadian Asset Management Inc.	−96,372	1,308,190	$71,191,699
ENVA	Enova International, Inc.	−47,500	394,064	$53,525,713
VTOL	Bristow Group Inc.	−44,599	1,170,000	$54,861,300
MPC	Marathon Petroleum Corp	−38,400	398,100	$97,208,058
PSX	Phillips 66	−28,600	236,200	$43,030,916
NG	Novagold Resources Inc	−5,100	2,700,000	$24,246,000
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
SPY	Spdr S&P 500 ETF Trust	105,000	$68,285,700
EA	Electronic Arts Inc.	227,000	$46,278,490
BCSS	Bain Capital GSS Investment Corp.	3,990,000	$40,346,880
APO	Apollo Global Management, Inc.	328,200	$36,568,044
FOXA	Fox Corp	622,000	$36,324,800
RIG	Transocean Ltd.	4,570,463	$30,302,169
MCW	Mister Car Wash, Inc.	4,250,000	$29,622,500
PEN	Penumbra Inc	85,000	$27,911,450
WAT	Waters Corp /De/	92,000	$27,397,600
KBON	Karbon Capital Partners Corp.	2,632,752	$26,485,485
SNAP	Snap Inc	5,500,000	$25,300,000
FVAV	Fortress Value Acquisition Corp. V	2,475,000	$24,824,250
UNF	Unifirst Corp	81,000	$20,378,790
SBAC	Sba Communications Corp	102,000	$17,555,220
VSNT	Versant Media Group, Inc.	384,748	$14,243,370
VG	Venture Global, Inc.	831,000	$13,096,560
DSAC	Daedalus Special Acquisition Corp.	1,132,000	$11,218,120
BP	Bp PLC	220,000	$10,340,000
RVMD	Revolution Medicines, Inc.	102,400	$9,958,400
INVH	Invitation Homes Inc.	385,000	$9,567,250
AVB	Avalonbay Communities Inc	58,000	$9,474,300
DK	Delek US Holdings, Inc.	208,700	$9,406,109
ARI	Apollo Commercial Real Estate Finance, Inc.	883,751	$9,332,410
CPT	Camden Property Trust	94,000	$9,180,040
CCI	Crown Castle Inc.	107,000	$8,700,170
No positions match the current search.

Sold Out

Positions the filer fully exited

10 positions

Ticker	Company	Shares	Value
PCG	PG&E Corp	5,900,000	$94,813,000
CVS	CVS HEALTH Corp	1,160,000	$92,057,600
UNH	Unitedhealth Group Inc	193,000	$63,711,230
CRL	Charles River Laboratories International, Inc.	121,500	$24,236,820
IQV	Iqvia Holdings Inc.	104,650	$23,589,156
MDLZ	Mondelez International, Inc.	418,000	$22,500,940
BXSL	Blackstone Secured Lending Fund	765,000	$20,142,450
TFX	Teleflex Inc	118,000	$14,400,720
LAD	Lithia Motors Inc	15,400	$5,117,882
AEM	Agnico Eagle Mines Ltd	27,700	$4,695,981
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

96 positions · $2,653,164,962 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 96 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
AER	AerCap Holdings N.V. Industrials	Reduced	1,000,000	-100,000	$137,180,000	−13.3%	5.17%
BTI	British American Tobacco p.l.c. Consumer Defensive	Reduced	1,925,000	-275,000	$112,554,750	−9.6%	4.24%
SHEL	Shell plc Energy	Reduced	1,141,700	-558,300	$106,178,100	−15.0%	4.00%
MPC	Marathon Petroleum Corp Energy	Reduced	398,100	-38,400	$97,208,058	+36.9%	3.66%
NSC	Norfolk Southern Corp Industrials	Added	317,100	+113,300	$91,007,700	+54.7%	3.43%
STZ	Constellation Brands, Inc. Consumer Defensive	Added	606,200	+19,500	$90,930,000	+12.3%	3.43%
TXNM	Txnm Energy Inc Utilities	Held	1,442,554	0	$84,331,706	−0.7%	3.18%
AAMI	Acadian Asset Management Inc. Financial Services	Reduced	1,308,190	-96,372	$71,191,699	+7.8%	2.68%
WBD	Warner Bros. Discovery, Inc. Communication Services	Added	2,583,000	+583,000	$70,929,180	+23.1%	2.67%
SPY	Spdr S&P 500 ETF Trust	NEW	105,000	NEW	$68,285,700	NEW	2.57%
VISN	Vistance Networks, Inc. Technology	Added	3,732,000	+1,672,000	$67,922,400	+81.9%	2.56%
NMRK	Newmark Group, Inc. Real Estate	Held	4,360,150	0	$65,358,648	−13.6%	2.46%
UNP	Union Pacific Corp Industrials	Reduced	238,300	-135,500	$57,816,346	−33.1%	2.18%
AXTA	Axalta Coating Systems Ltd. Basic Materials	Held	2,050,000	0	$56,785,000	−14.3%	2.14%
VTOL	Bristow Group Inc. Energy	Reduced	1,170,000	-44,599	$54,861,300	+23.3%	2.07%
ENVA	Enova International, Inc. Financial Services	Reduced	394,064	-47,500	$53,525,713	−22.9%	2.02%
CAH	Cardinal Health Inc Healthcare	Held	247,800	0	$52,362,618	+2.8%	1.97%
VSAT	Viasat Inc Technology	Held	1,138,000	0	$52,120,400	+32.9%	1.96%
EA	Electronic Arts Inc. Communication Services	NEW	227,000	NEW	$46,278,490	NEW	1.74%
PSX	Phillips 66 Energy	Reduced	236,200	-28,600	$43,030,916	+25.9%	1.62%
BCSS	Bain Capital GSS Investment Corp. Financial Services	NEW	3,990,000	NEW	$40,346,880	NEW	1.52%
CMCSA	Comcast Corp Communication Services	Added	1,345,000	+476,300	$38,614,950	+58.7%	1.46%
APO	Apollo Global Management, Inc. Financial Services	NEW	328,200	NEW	$36,568,044	NEW	1.38%
FOXA	Fox Corp Communication Services	NEW	622,000	NEW	$36,324,800	NEW	1.37%
PPLI	People Inc Communication Services	Added	820,000	+143,000	$32,824,600	+24.0%	1.24%
OPTU	Optimum Communications, Inc. Communication Services	Reduced	24,578,407	-450,000	$31,951,929	−22.6%	1.20%
RIG	Transocean Ltd. Energy	NEW	4,570,463	NEW	$30,302,169	NEW	1.14%
ASH	Ashland Inc. Basic Materials	Held	542,000	0	$30,140,620	−5.2%	1.14%
KVUE	Kenvue Inc. Consumer Defensive	Held	1,732,000	0	$29,859,680	−0.1%	1.13%
NNI	Nelnet Inc Financial Services	Held	231,000	0	$29,789,760	−3.0%	1.12%
MCW	Mister Car Wash, Inc. Consumer Cyclical	NEW	4,250,000	NEW	$29,622,500	NEW	1.12%
COF	Capital One Financial Corp Financial Services	Reduced	160,000	-284,000	$29,188,800	−72.9%	1.10%
CCIX	Churchill Capital Corp IX/Cayman Financial Services	Held	2,633,582	0	$28,126,655	+0.5%	1.06%
PEN	Penumbra Inc Healthcare	NEW	85,000	NEW	$27,911,450	NEW	1.05%
WAT	Waters Corp /De/ Healthcare	NEW	92,000	NEW	$27,397,600	NEW	1.03%
B	Barrick Mining Corp Basic Materials	Reduced	667,800	-153,200	$27,239,562	−23.8%	1.03%
ECHO	EchoStar CORP Communication Services	Added	228,000	+39,000	$26,691,960	+29.9%	1.01%
KBON	Karbon Capital Partners Corp. Financial Services	NEW	2,632,752	NEW	$26,485,485	NEW	1.00%
SNAP	Snap Inc Communication Services	NEW	5,500,000	NEW	$25,300,000	NEW	0.95%
LBRDA	Liberty Broadband Corp Communication Services	Held	500,000	0	$25,110,000	+4.0%	0.95%
FVAV	Fortress Value Acquisition Corp. V Financial Services	NEW	2,475,000	NEW	$24,824,250	NEW	0.94%
NG	Novagold Resources Inc Basic Materials	Reduced	2,700,000	-5,100	$24,246,000	−3.8%	0.91%
QRVO	Qorvo, Inc. Technology	Held	309,000	0	$23,916,600	−8.4%	0.90%
PPTA	Perpetua Resources Corp. Basic Materials	Reduced	840,000	-188,853	$23,620,800	−5.2%	0.89%
RAC	Rithm Acquisition Corp. Financial Services	Reduced	2,230,000	-549,026	$23,192,000	−19.7%	0.87%
NN	Nextnav Inc. Technology	Reduced	1,432,000	-454,000	$22,940,640	−26.9%	0.86%
UNF	Unifirst Corp Industrials	NEW	81,000	NEW	$20,378,790	NEW	0.77%
KMB	Kimberly Clark Corp Consumer Defensive	Held	187,200	0	$18,059,184	−4.4%	0.68%
SBAC	Sba Communications Corp Real Estate	NEW	102,000	NEW	$17,555,220	NEW	0.66%
SNCY	Sun Country Airlines Holdings, LLC Industrials	Added	1,034,499	+394,499	$17,089,923	+85.6%	0.64%