Q2 2026 13F · SEC CIK 1317195

Empyrean Capital Partners, LP

Hedge fundFiled 2026-08-14 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $2.6B
Reported positions: 105
Top holdings a year, 3 yrs: +20.8%
Assets under management: $5.0B

Empyrean Capital Partners, LP is a hedge fund that reported 105 positions worth $2.6B in its Q2 2026 13F, filed 2026-08-14. Its largest holdings were Viasat Inc Com (VSAT, 6.6%), Aercap Holdings NV (AER, 5.0%), British Amern Tob PLC (BTI, 4.5%). A portfolio copying its top holdings returned 20.8% a year over the last 3 years, against 20.4% for the S&P 500.

Empyrean Capital Partners, LP holdings largest 50 of 105 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Empyrean Capital Partners, LP 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
VSATViasat Inc Com	6.6%	1.8%	1,942,000	+70.7%	$174.4M
AERAercap Holdings NV	5.0%	4.9%	900,000	-10.0%	$131.2M
BTIBritish Amern Tob PLC	4.5%	4.0%	1,925,000	+0.0%	$118.9M
MPCMarathon Petroleum	3.8%	3.4%	395,600	-0.6%	$101.1M
ENVAEnova Intl Inc	3.6%	1.9%	391,000	-0.8%	$94.1M
AAMIAcadian Asset Management Inc	3.6%	2.5%	1,308,000	-0.0%	$93.5M
NSCNorfolk Southn Corporation	3.3%	3.2%	279,800	-11.8%	$88.0M
UNPUnion Pac Corp	2.9%	2.1%	282,200	+18.4%	$76.8M
NMRKNewmark Group Inc	2.5%	2.3%	4,360,150	+0.0%	$65.9M
BXDCBlackstone Digital Infrastru	2.5%	—	2,985,000	—	$64.6M
APOApollo Global Management Inc	2.4%	1.3%	540,000	+64.5%	$63.9M
COFCapital One Finl Corp	2.3%	1.0%	300,000	+87.5%	$60.2M
CCXIChurchill Cap Corp Xi	2.1%	—	3,150,000	—	$55.0M
TPXSomnigroup International Inc	1.9%	—	632,000	—	$49.5M
WBDWarner Bros Discovery Inc	1.8%	2.5%	1,783,087	-31.0%	$47.5M
TXNMTxnm Energy Inc	1.8%	3.0%	812,554	-43.7%	$46.1M
SHELShell PLC	1.7%	3.8%	583,688	-48.9%	$45.3M
ROKURoku Inc	1.7%	—	320,000	—	$44.2M
VTOLBristow Group Inc	1.7%	1.9%	1,067,500	-8.8%	$44.1M
CAHCardinal Health Inc	1.7%	1.9%	184,200	-25.7%	$43.8M
BCSSBain Cap Gss Invt Corp	1.6%	1.4%	3,990,000	+0.0%	$41.0M
WATWaters Corp	1.5%	1.0%	105,500	+14.7%	$39.6M
ASHAshland Inc	1.4%	1.1%	542,000	+0.0%	$35.7M
KVUEKenvue Inc	1.3%	1.1%	1,732,000	+0.0%	$33.1M
EAElectronic Arts Inc	1.2%	1.6%	152,000	-33.0%	$31.2M
NNINelnet Inc	1.2%	1.1%	231,000	+0.0%	$30.8M
LBRDKLiberty Broadband Corp	1.2%	1.6%	920,781	+0.0%	$30.6M
CXIIUChurchill Cap Corp Xii	1.1%	—	2,700,000	—	$29.2M
QRVOQorvo Inc	1.1%	0.8%	309,000	+0.0%	$28.8M
CCIXChurchill Capital Corp Ix	1.1%	1.0%	2,633,582	+0.0%	$28.7M
AESIAtlas Energy Solutions Inc	1.0%	—	1,618,000	—	$26.9M
PENPenumbra, Inc.	1.0%	1.0%	85,000	+0.0%	$26.8M
KBONKarbon Cap Partners Corp	1.0%	0.9%	2,632,752	+0.0%	$26.6M
PSXPhillips 66	1.0%	1.5%	149,600	-36.7%	$25.3M
STZConstellation Brands Inc	1.0%	3.2%	181,298	-70.1%	$25.2M
FVAVFortress Value Acquisition Corp	1.0%	0.9%	2,475,000	+0.0%	$25.0M
WULFTerawulf Inc	0.8%	—	882,000	—	$21.8M
UNFUnifirst Corp Mass	0.8%	0.7%	81,000	+0.0%	$21.4M
GCGRUGeneral Catalyst Global Resili	0.8%	—	2,000,000	—	$20.6M
KMBKimberly-Clark Corp	0.8%	—	187,200	—	$20.5M
SIRISiriusxm Holdings Inc	0.8%	—	692,775	—	$20.5M
BBarrick Mng Corp	0.8%	1.0%	550,000	-17.6%	$20.2M
MTALMetals Acquisition Corp II	0.8%	—	1,980,000	—	$20.1M
HONAHoneywell Aerospace Inc	0.8%	—	90,001	—	$19.9M
AMBPArdagh Metal Packaging S A	0.7%	—	4,000,000	—	$19.0M
ALGTAllegiant Travel	0.7%	—	161,071	—	$18.9M
LBRDALiberty Broadband Corp	0.6%	0.9%	500,000	+0.0%	$16.6M
BPBp PLC	0.6%	—	435,000	—	$16.1M
CPTCamden Ppty Tr	0.6%	—	137,000	—	$15.7M
FWONKLiberty Media Corp Del	0.6%	—	164,000	—	$15.6M

What Empyrean Capital Partners, LP bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Added to

COF Capital One Finl Corp+87.5% shares
VSAT Viasat Inc Com+70.7% shares
APO Apollo Global Management Inc+64.5% shares
UNP Union Pac Corp+18.4% shares
WAT Waters Corp+14.7% shares

Reduced

STZ Constellation Brands Inc-70.1% shares
SHEL Shell PLC-48.9% shares
TXNM Txnm Energy Inc-43.7% shares
PSX Phillips 66-36.7% shares
EA Electronic Arts Inc-33.0% shares
WBD Warner Bros Discovery Inc-31.0% shares
CAH Cardinal Health Inc-25.7% shares
B Barrick Mng Corp-17.6% shares

Left the top 50

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +28.1% /yr; S&P 500 +20.1%
3 years: +20.8% /yr; S&P 500 +20.4%
5 years: +13.6% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$2.6B	105
Q1 2026	$2.8B	115
Q4 2025	$2.7B	84
Q3 2025	$2.2B	76
Q2 2025	$1.9B	60
Q1 2025	$1.7B	47
Q4 2024	$1.8B	57
Q3 2024	$1.6B	55
Q2 2024	$1.5B	56
Q1 2024	$1.5B	48
Q4 2023	$1.4B	45
Q3 2023	$1.4B	56

Questions about Empyrean Capital Partners, LP's portfolio

What stocks does Empyrean Capital Partners, LP own?

Empyrean Capital Partners, LP's latest 13F, for Q2 2026 and filed Aug 14, 2026, lists 105 positions worth $2.6B. The largest are Viasat Inc Com (VSAT) at 6.6%, Aercap Holdings NV (AER) at 5.0%, British Amern Tob PLC (BTI) at 4.5%, Marathon Petroleum (MPC) at 3.8% and Enova Intl Inc (ENVA) at 3.6%.

What did Empyrean Capital Partners, LP buy last quarter?

In Q2 2026, Empyrean Capital Partners, LP added Capital One Finl Corp (COF) (+87.5% shares), Viasat Inc Com (VSAT) (+70.7% shares) and Apollo Global Management Inc (APO) (+64.5% shares), compared with its Q1 2026 filing.

What did Empyrean Capital Partners, LP sell last quarter?

In Q2 2026, Empyrean Capital Partners, LP cut from its top 50 Vistance Networks Inc (VISN), cut from its top 50 Axalta Coating Sys Ltd (AXTA), cut from its top 50 Comcast Corp New (CMCSA), cut from its top 50 Fox Corp - Class A (FOXA), cut from its top 50 Churchill Cap Corp Xi (CCXIU), Constellation Brands Inc (STZ) (-70.1% shares), Shell PLC (SHEL) (-48.9% shares) and Txnm Energy Inc (TXNM) (-43.7% shares), compared with its Q1 2026 filing.

How has Empyrean Capital Partners, LP's portfolio performed?

A portfolio copying Empyrean Capital Partners, LP's 20 largest 13F holdings each quarter, from the day each filing was public, returned +20.8% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +28.1% against +20.1%. Over 5 years: +13.6% a year against +11.6%.

When is Empyrean Capital Partners, LP's next 13F filing due?

13F filings are due 45 days after each quarter ends. Empyrean Capital Partners, LP's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does Empyrean Capital Partners, LP manage?

Empyrean Capital Partners, LP reported $5.0B of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $2.6B.