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Empyrean Capital Partners, LP

Q2 2025 · Filed 2025-08-14
Market Value
$1.9B
+17.8%
Holdings
67
+4
New Purchases
24
Added To
12
Closed
9
Reduced
8
Top 10 Concentration
51.7%
Turnover
49.3%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
SPY 4.06% 0.00% +4.06% $77M
LBRDK 4.77% 1.69% +3.08% $91M
SKX 2.73% 0.00% +2.73% $52M
LBRDA 2.58% 0.00% +2.58% $49M
BTI 2.37% 0.00% +2.37% $45M
JHX 1.78% 0.00% +1.78% $34M
COF 1.68% 0.00% +1.68% $32M
CCCXU 1.63% 0.00% +1.63% $31M
PSX 1.12% 0.00% +1.12% $21M
NG 1.41% 0.35% +1.06% $27M
PPTA 0.89% 0.00% +0.89% $17M
NXE 0.75% 0.00% +0.75% $14M
BTBT 0.49% 0.00% +0.49% $9M
AAMI 3.49% 3.02% +0.47% $66M
SATS 0.46% 0.00% +0.46% $9M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
HES 6.61% 11.89% -5.28% $126M
APG 0.00% 3.99% -3.99% $0
CVS 3.13% 6.44% -3.31% $59M
UNH 1.54% 3.90% -2.36% $29M
SHEL 8.53% 10.46% -1.93% $162M
ITCI 0.00% 1.87% -1.87% $0
DFS 0.00% 1.78% -1.78% $0
PCG 3.01% 4.05% -1.04% $57M
AKAM 0.00% 1.00% -1.00% $0
ATUS 2.60% 3.32% -0.71% $49M
SWTX 0.00% 0.67% -0.67% $0
HNRG 0.39% 1.01% -0.62% $7M
NMRK 2.79% 3.29% -0.50% $53M
CAH 2.75% 3.24% -0.49% $52M
CCIX 1.46% 1.94% -0.48% $28M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 3 $268M 14.1%
Large Cap 22 $733M 38.6%
Mid Cap 22 $617M 32.5%
Small Cap 16 $276M 14.6%
Micro Cap 4 $3M 0.2%

Portfolio Analytics

Avg Market Cap
$39.4B
Median Market Cap
$6.6B
Avg P/E
30.6
Median P/E
17.3
Avg Dividend Yield
0.02%
Avg Beta
0.97
# Stocks
66
# ETFs / Funds
1

Top Holdings (67 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 AER 8.82% 1,432,000 $168M $117.00 $26M +50,000 +3.6%
2 SHEL 8.53% 2,300,000 $162M $70.41 -$7M
3 HES 6.61% 906,000 $126M $138.54 -$66M -293,000 -24.4%
4 LBRDK 4.77% 920,781 $91M $98.38 $63M +600,220 +187.2%
5 MPC 4.65% 531,000 $88M $166.11 $12M +10,500 +2.0%
6 TXNM 4.28% 1,442,554 $81M $56.32 $6M +38,000 +2.7%
7 SPY 4.06% 124,848 $77M $617.85 +124,848 NEW
8 AAMI 3.49% 1,880,634 $66M $35.24 $18M
9 ENVA 3.33% 567,538 $63M $111.52 $14M +54,738 +10.7%
10 CVS 3.13% 862,000 $59M $68.98 -$44M -669,000 -43.7%
11 PCG 3.01% 4,100,000 $57M $13.94 -$8M +300,000 +7.9%
12 NMRK 2.79% 4,360,150 $53M $12.15 -$87K
13 CAH 2.75% 311,300 $52M $168.00 $84K -67,700 -17.9%
14 SKX 2.73% 821,000 $52M $63.10 +821,000 NEW
15 ATUS 2.60% 23,100,000 $49M $2.14 -$4M +3,000,000 +14.9%
16 LBRDA 2.58% 500,000 $49M $97.82 +500,000 NEW
17 ALIT 2.53% 8,500,000 $48M $5.66 $4M +1,000,000 +13.3%
18 BTI 2.37% 950,000 $45M $47.33 +950,000 NEW
19 VTOL 2.22% 1,276,000 $42M $32.97 $6M +146,000 +12.9%
20 JHX 1.78% 1,257,000 $34M $26.89 +1,257,000 NEW
21 COF 1.68% 150,000 $32M $212.76 +150,000 NEW
22 CCCXU 1.63% 3,000,000 $31M $10.30 +3,000,000 NEW
23 UNH 1.54% 94,000 $29M $311.97 -$34M -26,000 -21.7%
24 CCIX 1.46% 2,633,582 $28M $10.52 -$4M -266,418 -9.2%
25 NG 1.41% 6,539,000 $27M $4.09 $21M +4,605,934 +238.3%
26 NN 1.35% 1,685,000 $26M $15.20 $5M
27 PSX 1.12% 178,000 $21M $119.30 +178,000 NEW
28 SIRI 1.10% 905,623 $21M $22.97 $385K
29 AMBP 0.90% 4,000,000 $17M $4.28 $5M
30 PPTA 0.89% 1,396,500 $17M $12.14 +1,396,500 NEW
31 FIP 0.77% 2,372,000 $15M $6.17 $8M +900,210 +61.2%
32 SABR 0.75% 4,520,099 $14M $3.16 $4M +1,020,099 +29.1%
33 LLYVK 0.75% 175,771 $14M $81.16 $2M
34 NXE 0.75% 2,051,600 $14M $6.94 +2,051,600 NEW
35 AEM 0.63% 100,000 $12M $118.93 $1M
36 TDS 0.61% 325,000 $12M $35.58 -$1M
37 UIHC 0.55% 940,500 $10M $11.12 -$423K
38 BTBT 0.49% 4,250,000 $9M $2.19 +4,250,000 NEW
39 SATS 0.46% 313,000 $9M $27.70 +313,000 NEW
40 AGI 0.42% 300,000 $8M $26.56 -$3M -100,000 -25.0%
41 NGD 0.40% 1,539,428 $8M $4.95 -$2M -1,070,572 -41.0%
42 HNRG 0.39% 471,168 $7M $15.83 -$9M -853,832 -64.4%
43 BP 0.39% 245,000 $7M $29.93 +245,000 NEW
44 SNCY 0.34% 557,042 $7M $11.75 +557,042 NEW
45 MAGN 0.30% 469,730 $6M $12.08 -$3M
46 EQT 0.22% 71,600 $4M $58.32 +71,600 NEW
47 RRC 0.22% 101,300 $4M $40.67 +101,300 NEW
48 AR 0.22% 101,400 $4M $40.28 +101,400 NEW
49 EXE 0.21% 34,500 $4M $116.94 +34,500 NEW
50 ULCC 0.21% 1,100,000 $4M $3.63 +1,100,000 NEW
51 CRK 0.17% 118,900 $3M $27.67 +118,900 NEW
52 ASTL 0.16% 452,148 $3M $6.89 +452,148 NEW
53 BACCU 0.16% 300,000 $3M $10.04 +300,000 NEW
54 CTRA 0.15% 115,400 $3M $25.38 +115,400 NEW
55 CAEP 0.14% 250,000 $3M $10.55 +250,000 NEW
56 CCIXW 0.02% 440,000 $418K $0.95 $66K
57 COCHW —% 75,000 $3K $0.04 $173
58 BENFW —% 100,000 $690 $0.01 -$40
59 SWTX —% -$11M -245,000 -100.0% SOLD
60 ITCI —% -$30M -228,000 -100.0% SOLD
61 FG —% -$4M -102,000 -100.0% SOLD
62 DFS —% -$29M -168,000 -100.0% SOLD
63 APG —% -$64M -1,800,000 -100.0% SOLD
64 SARO —% -$932K -35,000 -100.0% SOLD
65 BUR —% -$4M -340,000 -100.0% SOLD
66 VAL —% -$5M -140,000 -100.0% SOLD
67 AKAM —% -$16M -200,000 -100.0% SOLD

Options Breakdown

0 Calls $0 Call Value 3 Puts $821M Put Value

Top Puts

SymbolSharesValueStatus
HYG 5,500,000 $444M
IWM 1,750,000 $378M
SPY $0 SOLD

New Positions

SymbolValue% Port
SPY $77M 4.06%
SKX $52M 2.73%
LBRDA $49M 2.58%
BTI $45M 2.37%
JHX $34M 1.78%
COF $32M 1.68%
CCCXU $31M 1.63%
PSX $21M 1.12%
PPTA $17M 0.89%
NXE $14M 0.75%
BTBT $9M 0.49%
SATS $9M 0.46%
BP $7M 0.39%
SNCY $7M 0.34%
EQT $4M 0.22%

Sold Out Positions

SymbolValue% Port
VAL —%
SARO —%
FG —%
APG —%
AKAM —%
BUR —%
DFS —%
SWTX —%
ITCI —%
View SEC EDGAR Filings for Empyrean Capital Partners, LP →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms