Empyrean Capital Partners, LP 13F holdings, Q4 2025
Holdings as of December 31, 2025 · filings on SEC EDGAR · latest filing →
Empyrean Capital Partners, LP disclosed 94 US equity positions worth $2.9bn in its Q4 2025 13F filing. The largest position was AERCAP HOLDINGS NV at 5.5% of the reported book, followed by SHEL and BTI. Against the Q3 2025 filing, it opened 17 new positions, added to 9 and reduced 12 among the top 50 holdings.
What did Empyrean Capital Partners, LP own in Q4 2025? Top 50 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q3 2025 |
|---|---|---|---|---|---|---|---|
| 1 | AERCAP HOLDINGS NV | 5.5% | $158.1m | 1,100,000 | -27% | reduced | |
| 2 | SHEL SHELL PLC | Energy | 4.4% | $124.9m | 1,700,000 | -32% | reduced |
| 3 | BTI BRITISH AMERN TOB PLC | Consumer Defensive | 4.3% | $124.6m | 2,200,000 | 0% | held |
| 4 | COF CAPITAL ONE FINL CORP | Financial Services | 3.7% | $107.6m | 444,000 | 44% | added |
| 5 | PCG PG&E CORP | Utilities | 3.3% | $94.8m | 5,900,000 | 0% | held |
| 6 | CVS CVS HEALTH CORP | Healthcare | 3.2% | $92.1m | 1,160,000 | 11% | added |
| 7 | UNP UNION PAC CORP | Industrials | 3.0% | $86.5m | 373,800 | 13% | added |
| 8 | TXNM TXNM ENERGY INC | Utilities | 3.0% | $84.9m | 1,442,554 | 0% | held |
| 9 | STZ CONSTELLATION BRANDS INC | Consumer Defensive | 2.8% | $80.9m | 586,700 | 30% | added |
| 10 | NMRK NEWMARK GROUP INC | Real Estate | 2.6% | $75.6m | 4,360,150 | 0% | held |
| 11 | MPC MARATHON PETE CORP | Energy | 2.5% | $71.0m | 436,500 | -22% | reduced |
| 12 | ENVA ENOVA INTL INC | Financial Services | 2.4% | $69.4m | 441,564 | 0% | held |
| 13 | AXALTA COATING SYS LTD | 2.3% | $66.2m | 2,050,000 | – | new | |
| 14 | AAMI ACADIAN ASSET MANAGEMENT INC | Financial Services | 2.3% | $66.0m | 1,404,562 | -9% | reduced |
| 15 | UNH UNITEDHEALTH GROUP INC | Healthcare | 2.2% | $63.7m | 193,000 | – | new |
| 16 | NSC NORFOLK SOUTHN CORP | Industrials | 2.0% | $58.8m | 203,800 | 49% | added |
| 17 | WBD WARNER BROS DISCOVERY INC | Communication Services | 2.0% | $57.6m | 2,000,000 | – | new |
| 18 | CAH CARDINAL HEALTH INC | Healthcare | 1.8% | $50.9m | 247,800 | -31% | reduced |
| 19 | 8L8C LIBERTY BROADBAND CORP | 1.6% | $44.7m | 920,781 | 0% | held | |
| 20 | VTOL BRISTOW GROUP INC | 1.5% | $44.5m | 1,214,599 | -5% | reduced | |
| 21 | OPTU OPTIMUM COMMUNICATIONS INC | Communication Services | 1.4% | $41.3m | 25,028,407 | 8% | added |
| 22 | BAIN CAP GSS INVT CORP | 1.4% | $40.8m | 3,990,000 | 0% | held | |
| 23 | VSH VISHAY INTERTECHNOLOGY INC | 1.4% | $39.6m | 44,000,000 | 5% | added | |
| 24 | VSAT VIASAT INC | Technology | 1.4% | $39.2m | 1,138,000 | 0% | held |
| 25 | VISN COMMSCOPE HLDG CO INC | Technology | 1.3% | $37.3m | 2,060,000 | – | new |
| 26 | B BARRICK MNG CORP | Basic Materials | 1.2% | $35.8m | 821,000 | – | new |
| 27 | CHURCHILL CAP CORP XI | 1.2% | $35.7m | 3,500,000 | – | new | |
| 28 | PSX PHILLIPS 66 | Energy | 1.2% | $34.2m | 264,800 | 22% | added |
| 29 | ASH ASHLAND INC | Basic Materials | 1.1% | $31.8m | 542,000 | – | new |
| 30 | NN NEXTNAV INC | 1.1% | $31.4m | 1,886,000 | 0% | held | |
| 31 | THS TREEHOUSE FOODS INC | 1.1% | $31.1m | 1,320,000 | – | new | |
| 32 | NNI NELNET INC | Financial Services | 1.1% | $30.7m | 231,000 | 0% | held |
| 33 | MKSI MKS INC. | 1.1% | $30.4m | 23,800,000 | -5% | reduced | |
| 34 | KVUE KENVUE INC | Consumer Defensive | 1.0% | $29.9m | 1,732,000 | – | new |
| 35 | CHURCHILL CAPITAL CORP IX | 1.0% | $28.0m | 2,633,582 | 0% | held | |
| 36 | PD PAGERDUTY INC | 0.9% | $27.1m | 28,500,000 | -12% | reduced | |
| 37 | KARBON CAP PARTNERS CORP | 0.9% | $26.5m | 2,632,752 | – | new | |
| 38 | ANIP ANI PHARMACEUTICALS INC | 0.9% | $26.5m | 21,000,000 | -9% | reduced | |
| 39 | PPLI IAC INC | Communication Services | 0.9% | $26.5m | 677,000 | – | new |
| 40 | QRVO QORVO INC | Technology | 0.9% | $26.1m | 309,000 | – | new |
| 41 | CMCSA COMCAST CORP NEW | Communication Services | 0.9% | $26.0m | 868,700 | – | new |
| 42 | NG NOVAGOLD RES INC | Basic Materials | 0.9% | $25.2m | 2,705,100 | -45% | reduced |
| 43 | PPTA PERPETUA RESOURCES CORP | 0.9% | $24.9m | 1,028,853 | -32% | reduced | |
| 44 | CRL CHARLES RIV LABS INTL INC | Healthcare | 0.8% | $24.2m | 121,500 | – | new |
| 45 | LIBERTY BROADBAND CORP | 0.8% | $24.1m | 500,000 | 0% | held | |
| 46 | ON ON SEMICONDUCTOR CORP | 0.8% | $23.7m | 25,000,000 | 4% | added | |
| 47 | IQV IQVIA HLDGS INC | Healthcare | 0.8% | $23.6m | 104,650 | – | new |
| 48 | MDLZ MONDELEZ INTL INC | Consumer Defensive | 0.8% | $22.5m | 418,000 | – | new |
| 49 | LBRT LIBERTY ENERGY INC | Energy | 0.8% | $22.2m | 1,200,000 | – | new |
| 50 | ECHO ECHOSTAR CORP | Communication Services | 0.7% | $20.5m | 189,000 | -67% | reduced |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.