Empyrean Capital Partners, LP
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 14, 2024), Empyrean Capital Partners, LP reported 52 stock positions worth $1.5 billion. Its top holding was Shell PLC-ADR (SHEL) at 10.4% of the portfolio, followed by Aercap (AER, 10.2%) and Hess (HES, 9.2%). Compared with Q1 2024, it opened 19 new positions, sold out of 10, added to 4 and reduced 9. The biggest buy was a new position in Shell PLC-ADR (SHEL) and the biggest sale an exit from Pioneer Natural Resources (PXD).
- Most Recent 13F
- Q2 2026
- Location
- LOS ANGELES, CA
- CIK
- 0001317195
- Portfolio Value
- $1.5B (Q2 2024)
- SEC Filing
- 0001085146-24-004010 ↗ filed Aug 14, 2024
Holdings Value
Holdings 52 stocks · $1.5B
| SHEL Shell PLC-ADR | 10.41% | 2,100,000 | $151.6M | New |
| AER Aercap Holdings NV | 10.24% | 1,600,000 | $149.1M | Reduce -16.4% |
| HES Hess Corp. | 9.19% | 907,300 | $133.8M | Add +2.6% |
| ALIT Alight Inc. Class A | 6.38% | 12,595,000 | $93.0M | Reduce -22.8% |
| D Dominion Energy Inc. | 5.29% | 1,572,000 | $77.0M | No change |
| PCG P G & E Corp. | 4.92% | 4,100,000 | $71.6M | No change |
| APG Api Group Corp. | 4.65% | 1,800,000 | $67.7M | No change |
| J Jacobs Solutions Inc. | 4.06% | 423,000 | $59.1M | No change |
| TXNM TXNM Energy Inc. filed as PNM RES INC | 3.57% | 1,404,554 | $51.9M | No change |
| KBR KBR Inc. | 3.25% | 737,041 | $47.3M | New |
| ENVA Enova International Inc. | 3.23% | 755,738 | $47.0M | Reduce -14.3% |
| FDX FedEx Corp. | 3.19% | 155,000 | $46.5M | New |
| NMRK Newmark Group Inc. Class A | 3.06% | 4,360,150 | $44.6M | No change |
| AAMI Acadian Asset Management Inc. filed as BRIGHTSPHERE INVT GROUP INC | 2.86% | 1,880,634 | $41.7M | No change |
| VTOL Bristow Group Inc. | 2.58% | 1,120,000 | $37.6M | Add +9.0% |
| SIX Six Flags Entertainment Corp. | 1.98% | 870,743 | $28.9M | New |
| RCM R1 RCM Inc. | 1.81% | 2,100,000 | $26.4M | New |
| CPT Camden Property Trust | 1.57% | 210,000 | $22.9M | New |
| CVII Churchill Capital Corp. Vii-A | 1.41% | 1,912,322 | $20.6M | No change |
| JNPR Juniper Networks Inc. | 1.33% | 532,000 | $19.4M | No change |
| EDR Endeavor Group Hold Class A | 1.24% | 669,400 | $18.1M | New |
| CCIXU Churchill Capital Corp. Ix | 1.22% | 1,750,000 | $17.7M | New |
| LSXMK Liberty Media Corp.-Liber-New | 1.07% | 703,088 | $15.6M | No change |
| AKAM Akamai Technologies Inc. | 1.05% | 170,000 | $15.3M | New |
| AMBP Ardagh Metal Packaging SA | 0.93% | 4,000,000 | $13.6M | No change |
| FIP Ftai Infrastructure Inc. | 0.89% | 1,500,000 | $12.9M | Reduce -14.3% |
| CLVT Clarivate PLC | 0.62% | 1,575,000 | $9.0M | No change |
| AGI Alamos Gold Inc. Class A | 0.60% | 558,000 | $8.7M | Reduce -9.6% |
| LSXMA Liberty Media Corp. Class A New | 0.58% | 378,258 | $8.4M | No change |
| AEM Agnico Eagle Mines Ltd. | 0.54% | 120,000 | $7.8M | No change |
| APPN Appian Corp. Class A | 0.53% | 250,000 | $7.7M | New |
| LLYVK Liberty Media Corp.-Liberty-C | 0.46% | 175,771 | $6.7M | No change |
| ACIC American Coastal Insurance C | 0.42% | 575,000 | $6.1M | Reduce -23.3% |
| TDS Telephone and Data Systems | 0.41% | 288,800 | $6.0M | Add +44.4% |
| BLCO Bausch + Lomb Corp. | 0.38% | 385,000 | $5.6M | No change |
| NN Nextnav Inc. | 0.37% | 660,845 | $5.4M | Add +56.6% |
| SABR Sabre Corp. | 0.37% | 2,000,000 | $5.3M | No change |
| HHH Howard Hughes Holdings Inc. | 0.33% | 75,000 | $4.9M | New |
| TRIP Tripadvisor Inc. | 0.31% | 250,000 | $4.5M | Reduce -28.6% |
| WAY Waystar Holding Corp. | 0.30% | 200,000 | $4.3M | New |
| OPTU Optimum Communications Inc. Class A filed as ALTICE USA INC | 0.28% | 2,000,000 | $4.1M | New |
| NGD New Gold Inc. | 0.27% | 2,019,103 | $3.9M | Reduce -11.0% |
| HNRG Hallador Energy Co. | 0.27% | 500,000 | $3.9M | New |
| NG Novagold Resources Inc. | 0.25% | 1,053,000 | $3.6M | Reduce -16.0% |
| LLYVA Liberty Media Corp.-Liberty-A | 0.24% | 94,563 | $3.5M | No change |
| OXY Occidental Petroleum Corp. | 0.20% | 47,200 | $3.0M | New |
| SBGI Sinclair Inc. | 0.20% | 215,511 | $2.9M | New |
| GRAL Grail Inc. | 0.19% | 176,000 | $2.7M | New |
| B Barrick Gold Corp. | 0.15% | 127,572 | $2.1M | No change |
| GBTG Global Business Travel Group | 0.15% | 320,556 | $2.1M | No change |
| GOLD Gold.com Inc. filed as A-MARK PRECIOUS METALS INC | 0.11% | 50,000 | $1.6M | New |
| GAUZ Gauzy Ltd. | 0.08% | 100,000 | $1.2M | New |
Options reported separately and not counted above: IWM puts ($60.9M).
Other holdings (16): bonds, preferreds, convertibles and warrants · $188.9M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| WOLF Wolfspeed Inc. (wolf 1.875 12/01/29) | NOTE 1.875%12/0 · principal | 55,000,000 | $30.5M | Add +5.8% |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | 27,000,000 | $24.7M | Add +8.0% |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | 25,000,000 | $24.0M | No change |
| SEMTECH CORP (SMTC 1.625 11/01/27) | NOTE 1.625%11/0 · principal | 20,500,000 | $21.7M | Reduce -10.9% |
| CHEFS' WAREHOUSE THE (CHEF 2.375 12/15/28) | NOTE 2.375%12/1 · principal | 15,000,000 | $16.7M | Add +20.0% |
| 3D SYSTEMS CORP (DDD 0 11/15/26) | NOTE 11/1 · principal | 15,000,000 | $12.1M | No change |
| LCI INDUSTRIES (LCII 1.125 05/15/26) | NOTE 1.125% 5/1 · principal | 12,713,000 | $12.0M | Add +27.1% |
| JBT MAREL CORP (JBTM 0.25 05/15/26) | NOTE 0.250% 5/1 · principal | 13,000,000 | $11.9M | Add +8.3% |
| M/A-COM TECH SOLUTIONS (MTSI 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 8,000,000 | $11.3M | Reduce -63.6% |
| LYFT INC (LYFT 1.5 05/15/25) | NOTE 1.500% 5/1 · principal | 11,000,000 | $10.6M | Add +57.1% |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | 10,500,000 | $9.6M | New |
| EVERBRIDGE INC (EVBG 0.125 12/15/24) | NOTE 0.125%12/1 · principal | 4,000,000 | $4.0M | No change |
| PSEWF Paysafe Ltd. -CW26 | *W EXP 03/30/202 | 1,001,670 | $24K | No change |
| GATEW Marblegate Acquisition -CW22 | *W EXP 08/31/202 | 160,000 | $6K | No change |
| COCHW Envoy Medical Inc.-CW27 | *W EXP 09/29/202 | 75,000 | $4K | No change |
| BENFW Beneficient Co. Group -28 | *W EXP 06/07/202 | 100,000 | $730 | No change |
Total filed on the 13F, all lines: $1.6B.
Portfolio Sells Q1 2024 → Q2 2024
| PXD Pioneer Natural Resources Co. | Sold out | 0.00% | −12.15 |
| MPC Marathon Petroleum Corp. | Sold out | 0.00% | −5.87 |
| ALIT Alight Inc. Class A | Reduce -22.8% | 6.38% | −4.27 |
| OKLO Oklo Inc. | Sold out | 0.00% | −2.32 |
| NNI Nelnet Inc. Class A | Sold out | 0.00% | −1.35 |
| ECHO Echostar Corp. Class A | Sold out | 0.00% | −1.18 |
| AER Aercap Holdings NV | Reduce -16.4% | 10.24% | −0.79 |
| ENVA Enova International Inc. | Reduce -14.3% | 3.23% | −0.44 |
| EHAB Enhabit Inc. | Sold out | 0.00% | −0.38 |
| TRIP Tripadvisor Inc. | Reduce -28.6% | 0.31% | −0.34 |
| ACIC American Coastal Insurance C | Reduce -23.3% | 0.42% | −0.12 |
| BWMN Bowman Consulting Group Ltd. | Sold out | 0.00% | −0.09 |
| PSX Phillips 66 | Sold out | 0.00% | −0.03 |
| WOLF Wolfspeed Inc. | Sold out | 0.00% | −0.03 |
| SN Sharkninja Inc. | Sold out | 0.00% | −0.02 |
| AGI Alamos Gold Inc. Class A | Reduce -9.6% | 0.60% | −0.00 |
| NG Novagold Resources Inc. | Reduce -16.0% | 0.25% | +0.00 |
| NGD New Gold Inc. | Reduce -11.0% | 0.27% | +0.01 |
| FIP Ftai Infrastructure Inc. | Reduce -14.3% | 0.89% | +0.16 |
Portfolio Buys Q1 2024 → Q2 2024
| SHEL Shell PLC-ADR | New | 10.41% | +10.41 |
| KBR KBR Inc. | New | 3.25% | +3.25 |
| FDX FedEx Corp. | New | 3.19% | +3.19 |
| SIX Six Flags Entertainment Corp. | New | 1.98% | +1.98 |
| RCM R1 RCM Inc. | New | 1.81% | +1.81 |
| CPT Camden Property Trust | New | 1.57% | +1.57 |
| EDR Endeavor Group Hold Class A | New | 1.24% | +1.24 |
| CCIXU Churchill Capital Corp. Ix | New | 1.22% | +1.22 |
| AKAM Akamai Technologies Inc. | New | 1.05% | +1.05 |
| VTOL Bristow Group Inc. | Add +9.0% | 2.58% | +0.73 |
| APPN Appian Corp. Class A | New | 0.53% | +0.53 |
| HHH Howard Hughes Holdings Inc. | New | 0.33% | +0.33 |
| WAY Waystar Holding Corp. | New | 0.30% | +0.30 |
| OPTU Optimum Communications Inc. Class A | New | 0.28% | +0.28 |
| HNRG Hallador Energy Co. | New | 0.27% | +0.27 |
| HES Hess Corp. | Add +2.6% | 9.19% | +0.24 |
| OXY Occidental Petroleum Corp. | New | 0.20% | +0.20 |
| TDS Telephone and Data Systems | Add +44.4% | 0.41% | +0.20 |
| SBGI Sinclair Inc. | New | 0.20% | +0.20 |
| GRAL Grail Inc. | New | 0.19% | +0.19 |
| NN Nextnav Inc. | Add +56.6% | 0.37% | +0.18 |
| GOLD Gold.com Inc. | New | 0.11% | +0.11 |
| GAUZ Gauzy Ltd. | New | 0.08% | +0.08 |
Options Activity Q1 2024 → Q2 2024
| IWM iShares Russell 2000 ETF | put | Reduce -81.7% | 300,000 | $60.9M |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q1 2024 → Q2 2024
| WOLF Wolfspeed Inc. (wolf 1.875 12/01/29) | NOTE 1.875%12/0 · principal | Add +5.8% | 55,000,000 | $30.5M |
| INTEGER HOLDINGS CORP (ITGR 2.125 02/15/28) | NOTE 2.125% 2/1 · principal | Sold out | 18,500,000 | $26.7Mbefore exit |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | Add +8.0% | 27,000,000 | $24.7M |
| SEMTECH CORP (SMTC 1.625 11/01/27) | NOTE 1.625%11/0 · principal | Reduce -10.9% | 20,500,000 | $21.7M |
| CHEFS' WAREHOUSE THE (CHEF 2.375 12/15/28) | NOTE 2.375%12/1 · principal | Add +20.0% | 15,000,000 | $16.7M |
| LCI INDUSTRIES (LCII 1.125 05/15/26) | NOTE 1.125% 5/1 · principal | Add +27.1% | 12,713,000 | $12.0M |
| JBT MAREL CORP (JBTM 0.25 05/15/26) | NOTE 0.250% 5/1 · principal | Add +8.3% | 13,000,000 | $11.9M |
| M/A-COM TECH SOLUTIONS (MTSI 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | Reduce -63.6% | 8,000,000 | $11.3M |
| LYFT INC (LYFT 1.5 05/15/25) | NOTE 1.500% 5/1 · principal | Add +57.1% | 11,000,000 | $10.6M |
| PELOTON INTERACTIVE INC (PTON 0 02/15/26) | NOTE 2/1 · principal | Sold out | 11,986,000 | $10.1Mbefore exit |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | New | 10,500,000 | $9.6M |
| ETSY INC (ETSY 0.125 10/01/26) | NOTE 0.125%10/0 · principal | Sold out | 4,500,000 | $4.8Mbefore exit |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | Sold out | 2,500,000 | $2.3Mbefore exit |
| ETSY INC (ETSY 0.125 09/01/27) | NOTE 0.125% 9/0 · principal | Sold out | 2,500,000 | $2.1Mbefore exit |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | Sold out | 30,000 | $1.8Mbefore exit |
| PAGERDUTY INC. (PD 1.25 07/01/25) | NOTE 1.250% 7/0 · principal | Sold out | 1,337,000 | $1.3Mbefore exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 94 | $2.6B | VSAT, AER, BTI, MPC, ENVA |
| Q1 2026 | 107 | $2.8B | AER, BTI, SHEL, MPC, NSC |
| Q4 2025 | 80 | $2.7B | AER, SHEL, BTI, COF, PCG |
| Q3 2025 | 73 | $2.2B | AER, SHEL, BTI, MPC, PCG |
| Q2 2025 | 57 | $1.9B | AER, SHEL, HES, LBRDK, MPC |
| Q1 2025 | 43 | $1.7B | HES, SHEL, AER, CVS, MPC |
| Q4 2024 | 52 | $1.8B | HES, AER, SHEL, PCG, DFS |
| Q3 2024 | 51 | $1.6B | HES, AER, SHEL, D, ALIT |
| Q2 2024 | 52 | $1.5B | SHEL, AER, HES, ALIT, D |
| Q1 2024 | 43 | $1.5B | PXD, AER, ALIT, HES, MPC |