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ECP
Empyrean Capital Partners Portfolio holdings
AUM
$3.07B
1-Year Est. Return
34.24%
This Fund
S&P 500
This Quarter
Est. Return
+12.89%
1 Year Est. Return
+34.24%
3 Year Est. Return
+104.05%
5 Year Est. Return
+133.06%
10 Year Est. Return
+500.1%
AUM
$2.49B
AUM Growth
-$489M
(-16%)
Cap. Flow
-$840M
Cap. Flow
% of AUM
-33.73%
Top 10 Holdings %
Top 10 Hldgs %
42.9%
Holding
98
New
26
Increased
14
Reduced
12
Closed
12
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Union Pacific
UNP
|
+$74.8M |
| 2 |
Constellation Brands
STZ
|
+$71.7M |
| 3 |
British American Tobacco
BTI
|
+$67.9M |
| 4 |
BCSS.U
Bain Capital GSS Investment Corp Units
BCSS.U
|
+$40.3M |
| 5 |
Norfolk Southern
NSC
|
+$37.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
HES
Hess
HES
|
+$126M |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$77.1M |
| 3 |
SKX
Skechers
SKX
|
+$51.8M |
| 4 |
James Hardie Industries
JHX
|
+$33.8M |
| 5 |
CCCXU
Churchill Capital Corp X Unit
CCCXU
|
+$30.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 17.31% |
| 2 | Financials | 13.69% |
| 3 | Industrials | 12.56% |
| 4 | Communication Services | 11.08% |
| 5 | Consumer Staples | 7.33% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
76
Beneficient Warrant
BENFW
| $1.44K | ﹤0.01% |
100,000
| – | – |
|
77
Algoma Steel
ASTL
$431M
| – | – |
-452,148
| Closed | -$3.12M |
|
78
Bit Digital
BTBT
$482M
| – | – |
-4,250,000
| Closed | -$9.31M |
|
79
FTAI Infrastructure
FIP
$505M
| – | – |
-2,372,000
| Closed | -$14.6M |
|
|
HES
80
DELISTED
Hess
HES
| – | – |
-906,000
| Closed | -$126M |
|
81
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$16.6B
| – | – |
-5,500,000
| Closed | -$444M |
|
82
PUT
iShares Russell 2000 ETF
IWM
$83B
| – | – |
-1,750,000
| Closed | -$378M |
|
|
83
James Hardie Industries
JHX
$17.5B
| – | – |
-1,257,000
| Closed | -$33.8M |
|
|
SKX
84
DELISTED
Skechers
SKX
| – | – |
-821,000
| Closed | -$51.8M |
|
|
85
State Street SPDR S&P 500 ETF Trust
SPY
$823B
| – | – |
-124,848
| Closed | -$77.1M |
|
86
UnitedHealth
UNH
$370B
| – | – |
-94,000
| Closed | -$29.3M |
|
|
CCCXU
87
DELISTED
Churchill Capital Corp X Unit
CCCXU
| – | – |
-3,000,000
| Closed | -$30.9M |
|
|
BACCU
88
Blue Acquisition Corp Unit
BACCU
| – | – |
-300,000
| Closed | -$3.01M |
|
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Empyrean Capital Partners's Q3 2025 Portfolio in Review
As of Q3 2025, Empyrean Capital Partners held 98 positions worth $2.49B, down 16% from $2.98B the previous quarter. Its ten largest holdings account for 43% of the portfolio.
Empyrean Capital Partners withdrew a net $840M in Q3 2025, closing 12 positions and reducing 12 holdings. Its most notable exit was Hess, an estimated $126M position sold in full.
By sector, the portfolio is most concentrated in Energy at 17% of assets, up from 16% a quarter earlier, followed by Financials and Industrials.
Against the trend, Empyrean Capital Partners opened a new position in Union Pacific worth $78.5M.
- Empyrean Capital Partners's largest Q3 2025 buy was Union Pacific: 332,000 shares worth $78.5M.
- Empyrean Capital Partners added most to British American Tobacco in Q3 2025, an estimated $67.9M increase.
- Empyrean Capital Partners's biggest Q3 2025 reduction was Alight, cutting an estimated $15.8M.
- Empyrean Capital Partners fully exited Hess in Q3 2025, selling an estimated $126M.
- Empyrean Capital Partners's ten largest holdings make up 43% of its $2.49B portfolio in Q3 2025.
- Empyrean Capital Partners opened 26 new positions and closed 12 in Q3 2025.
- Empyrean Capital Partners's portfolio value fell 16% quarter-over-quarter to $2.49B.
Based on Empyrean Capital Partners's 13F filing for Q3 2025, filed 14 Nov 2025.