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Empyrean Capital Partners, LP

Q3 2025 · Filed 2025-11-14
Market Value
$2.2B
+14.3%
Holdings
80
+13
New Purchases
22
Added To
14
Closed
10
Reduced
12
Top 10 Concentration
49.2%
Turnover
40.0%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
UNP 3.61% 0.00% +3.61% $78M
BTI 5.38% 2.37% +3.01% $117M
STZ 2.80% 0.00% +2.80% $61M
NSC 1.89% 0.00% +1.89% $41M
BCSS 1.85% 0.00% +1.85% $40M
CCCX 1.56% 0.00% +1.56% $34M
SATS 2.00% 0.46% +1.55% $44M
VSAT 1.54% 0.00% +1.54% $33M
COF 3.02% 1.68% +1.33% $65M
NNI 1.33% 0.00% +1.33% $29M
PCG 4.10% 3.01% +1.09% $89M
TECK 1.01% 0.00% +1.01% $22M
NMRK 3.75% 2.79% +0.96% $81M
GTEN 0.69% 0.00% +0.69% $15M
AEXA 0.62% 0.00% +0.62% $13M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
HES 0.00% 6.61% -6.61% $0
SPY 0.00% 4.06% -4.06% $0
SKX 0.00% 2.73% -2.73% $0
LBRDK 2.69% 4.77% -2.08% $59M
ALIT 0.74% 2.53% -1.79% $16M
JHX 0.00% 1.78% -1.78% $0
CCCXU 0.00% 1.63% -1.63% $0
UNH 0.00% 1.54% -1.54% $0
LBRDA 1.46% 2.58% -1.12% $32M
ENVA 2.34% 3.33% -0.99% $51M
FIP 0.00% 0.77% -0.77% $0
SABR 0.03% 0.75% -0.72% $732K
TXNM 3.76% 4.28% -0.52% $82M
BTBT 0.00% 0.49% -0.49% $0
AER 8.36% 8.82% -0.46% $182M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 3 $179M 8.2%
Large Cap 25 $1.1B 49.2%
Mid Cap 21 $609M 28.1%
Small Cap 22 $294M 13.5%
Micro Cap 9 $21M 1.0%

Portfolio Analytics

Avg Market Cap
$36.4B
Median Market Cap
$4.4B
Avg P/E
30.1
Median P/E
17.6
Avg Dividend Yield
0.02%
Avg Beta
0.94
# Stocks
79
# ETFs / Funds
1

Top Holdings (80 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 AER 8.36% 1,500,000 $182M $121.00 $14M +68,000 +4.8%
2 SHEL 8.24% 2,500,000 $179M $71.53 $17M +200,000 +8.7%
3 BTI 5.38% 2,200,000 $117M $53.08 $72M +1,250,000 +131.6%
4 MPC 4.99% 562,500 $108M $192.74 $20M +31,500 +5.9%
5 PCG 4.10% 5,900,000 $89M $15.08 $32M +1,800,000 +43.9%
6 TXNM 3.76% 1,442,554 $82M $56.55 $332K
7 NMRK 3.75% 4,360,150 $81M $18.65 $28M
8 CVS 3.62% 1,042,500 $79M $75.39 $19M +180,500 +20.9%
9 UNP 3.61% 332,000 $78M $236.37 +332,000 NEW
10 AAMI 3.42% 1,541,108 $74M $48.16 $8M -339,526 -18.1%
11 COF 3.02% 308,000 $65M $212.58 $34M +158,000 +105.3%
12 STZ 2.80% 451,000 $61M $134.67 +451,000 NEW
13 LBRDK 2.69% 920,781 $59M $63.54 -$32M
14 CAH 2.58% 357,400 $56M $156.96 $4M +46,100 +14.8%
15 ATUS 2.56% 23,100,000 $56M $2.41 $6M
16 ENVA 2.34% 441,564 $51M $115.09 -$12M -125,974 -22.2%
17 VTOL 2.12% 1,276,000 $46M $36.08 $4M
18 SATS 2.00% 570,000 $44M $76.36 $35M +257,000 +82.1%
19 NG 1.98% 4,893,566 $43M $8.80 $16M -1,645,434 -25.2%
20 NSC 1.89% 136,500 $41M $300.41 +136,500 NEW
21 BCSS 1.85% 3,990,000 $40M $10.09 +3,990,000 NEW
22 CCCX 1.56% 2,640,000 $34M $12.86 +2,640,000 NEW
23 VSAT 1.54% 1,138,000 $33M $29.30 +1,138,000 NEW
24 LBRDA 1.46% 500,000 $32M $63.33 -$17M
25 PPTA 1.41% 1,517,953 $31M $20.23 $14M +121,453 +8.7%
26 PSX 1.36% 216,800 $29M $136.02 $8M +38,800 +21.8%
27 NNI 1.33% 231,000 $29M $125.38 +231,000 NEW
28 CCIX 1.27% 2,633,582 $28M $10.48 -$105K
29 NN 1.24% 1,886,000 $27M $14.30 $1M +201,000 +11.9%
30 TECK 1.01% 500,000 $22M $43.89 +500,000 NEW
31 SIRI 0.97% 905,623 $21M $23.27 $276K
32 LLYVK 0.79% 175,771 $17M $96.97 $3M
33 ALIT 0.74% 4,930,000 $16M $3.26 -$32M -3,570,000 -42.0%
34 AMBP 0.74% 4,000,000 $16M $3.99 -$1M
35 GTEN 0.69% 1,475,000 $15M $10.21 +1,475,000 NEW
36 AEM 0.67% 86,800 $15M $168.56 $3M -13,200 -13.2%
37 AGI 0.63% 391,300 $14M $34.86 $6M +91,300 +30.4%
38 AEXA 0.62% 1,230,000 $13M $10.93 +1,230,000 NEW
39 TDS 0.54% 300,000 $12M $39.24 $208K -25,000 -7.7%
40 UIHC 0.49% 940,500 $11M $11.39 $254K
41 NGD 0.43% 1,309,428 $9M $7.18 $2M -230,000 -14.9%
42 VAL 0.43% 191,700 $9M $48.77 +191,700 NEW
43 OXY 0.42% 191,000 $9M $47.25 +191,000 NEW
44 SNCY 0.40% 732,042 $9M $11.81 $2M +175,000 +31.4%
45 BP 0.39% 245,000 $8M $34.46 $1M
46 SOCAU 0.34% 700,000 $7M $10.54 +700,000 NEW
47 HNRG 0.32% 354,476 $7M $19.57 -$521K -116,692 -24.8%
48 GLBKV 0.32% 184,156 $7M $37.27 +184,156 NEW
49 NXE 0.31% 751,000 $7M $8.95 -$8M -1,300,600 -63.4%
50 MAGN 0.24% 436,260 $5M $11.72 -$561K -33,470 -7.1%
51 AKAM 0.20% 58,000 $4M $75.76 +58,000 NEW
52 EQT 0.18% 71,600 $4M $54.43 -$279K
53 NE 0.18% 137,000 $4M $28.28 +137,000 NEW
54 RRC 0.18% 101,300 $4M $37.64 -$307K
55 GLBAV 0.17% 99,999 $4M $37.55 +99,999 NEW
56 EXE 0.17% 34,500 $4M $106.24 -$369K
57 AR 0.16% 101,400 $3M $33.56 -$681K
58 ULCC 0.15% 723,439 $3M $4.41 -$799K -376,561 -34.2%
59 CEPF 0.14% 300,000 $3M $10.19 +300,000 NEW
60 AMN 0.13% 150,000 $3M $19.36 +150,000 NEW
61 CTRA 0.13% 115,400 $3M $23.65 -$200K
62 CAEP 0.12% 250,000 $3M $10.32 -$58K
63 CRK 0.11% 118,900 $2M $19.83 -$932K
64 FCRS 0.09% 175,000 $2M $10.60 +175,000 NEW
65 BDCIU 0.07% 150,000 $2M $10.10 +150,000 NEW
66 TONX 0.06% 192,621 $1M $7.04 +192,621 NEW
67 SABR 0.03% 400,000 $732K $1.83 -$14M -4,120,099 -91.2%
68 CCIXW 0.02% 440,000 $343K $0.78 -$75K
69 COCHW —% 75,000 $3K $0.04 $172
70 BENFW —% 100,000 $1K $0.01 $750
71 SPY —% -$77M -124,848 -100.0% SOLD
72 UNH —% -$29M -94,000 -100.0% SOLD
73 SKX —% -$52M -821,000 -100.0% SOLD
74 FIP —% -$15M -2,372,000 -100.0% SOLD
75 JHX —% -$34M -1,257,000 -100.0% SOLD
76 BTBT —% -$9M -4,250,000 -100.0% SOLD
77 ASTL —% -$3M -452,148 -100.0% SOLD
78 BACCU —% -$3M -300,000 -100.0% SOLD
79 CCCXU —% -$31M -3,000,000 -100.0% SOLD
80 HES —% -$126M -906,000 -100.0% SOLD

Options Breakdown

0 Calls $0 Call Value 2 Puts $0 Put Value

Top Puts

SymbolSharesValueStatus
HYG $0 SOLD
IWM $0 SOLD

New Positions

SymbolValue% Port
UNP $78M 3.61%
STZ $61M 2.80%
NSC $41M 1.89%
BCSS $40M 1.85%
CCCX $34M 1.56%
VSAT $33M 1.54%
NNI $29M 1.33%
TECK $22M 1.01%
GTEN $15M 0.69%
AEXA $13M 0.62%
VAL $9M 0.43%
OXY $9M 0.42%
SOCAU $7M 0.34%
GLBKV $7M 0.32%
AKAM $4M 0.20%

Sold Out Positions

SymbolValue% Port
JHX —%
UNH —%
BTBT —%
FIP —%
SPY —%
ASTL —%
BACCU —%
HES —%
SKX —%
CCCXU —%
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