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ECP
Empyrean Capital Partners Portfolio holdings
AUM
$3.03B
1-Year Est. Return
47.81%
This Fund
S&P 500
This Quarter
Est. Return
+12.52%
1 Year Est. Return
+47.81%
3 Year Est. Return
+131.37%
5 Year Est. Return
+161.39%
10 Year Est. Return
+590.42%
AUM
$2.84B
AUM Growth
-$1.43B
(-34%)
Cap. Flow
-$393M
Cap. Flow
% of AUM
-13.85%
Top 10 Holdings %
Top 10 Hldgs %
66.32%
Holding
75
New
16
Increased
8
Reduced
7
Closed
24
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Thermo Fisher Scientific
TMO
|
+$77.1M |
| 2 |
TWC
TIME WARNER CABLE INC NEW COM STK
TWC
|
+$43.5M |
| 3 |
Lamar Advertising Co
LAMR
|
+$41.5M |
| 4 |
Air Products & Chemicals
APD
|
+$38.1M |
| 5 |
AerCap
AER
|
+$35.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
HES
Hess
HES
|
+$176M |
| 2 |
Cognizant
CTSH
|
+$140M |
| 3 |
JAH
JARDEN CORPORATION
JAH
|
+$58.1M |
| 4 |
PENN Entertainment
PENN
|
+$54M |
| 5 |
Constellation Brands
STZ
|
+$45.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 60.81% |
| 2 | Energy | 10.19% |
| 3 | Communication Services | 6.97% |
| 4 | Real Estate | 5.36% |
| 5 | Technology | 4.33% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$806B
| $776M | 27.31% |
4,200,000
+1,100,000
| +35% | +$195M |
|
|
B
2
CALL
Barrick Mining
B
$72.9B
| $198M | 6.98% |
11,250,000
| – | – |
|
3
CALL
Occidental Petroleum
OXY
$61.5B
| $176M | 6.19% |
1,930,983
+365,321
| +23% | +$33.4M |
|
|
4
Occidental Petroleum
OXY
$61.5B
| $176M | 6.19% |
1,930,983
+26,095
| +1% | +$2.38M |
|
|
TYC
5
DELISTED
TYCO INTL PLC COM SHS (IRL)
TYC
| $123M | 4.33% |
2,865,000
-955,000
| -25% | -$37.1M |
|
|
YHOO
6
DELISTED
Yahoo Inc
YHOO
| $110M | 3.87% |
2,721,400
+621,400
| +30% | +$22.3M |
|
|
7
Lamar Advertising Co
LAMR
$15.1B
| $91.4M | 3.22% |
1,750,000
+850,000
| +94% | +$41.5M |
|
|
8
Thermo Fisher Scientific
TMO
$224B
| $86.3M | 3.04% |
+775,000
| New | +$77.1M |
|
9
PUT
Intel
INTC
$556B
| $74M | 2.6% |
4,000,000
-6,500,000
| -62% | -$157M |
|
10
Liberty Media Series A
FWONA
$22.1B
| $73.1M | 2.57% |
2,814,485
| – | – |
|
11
PUT
State Street Energy Select Sector SPDR ETF
XLE
$42.9B
| $72.6M | 2.55% |
1,640,000
-3,860,000
| -70% | -$166M |
|
12
PUT
American Airlines Group
AAL
$8.57B
| $63.1M | 2.22% |
+2,500,000
| New | +$64.4M |
|
13
TFS Financial
TFSL
$4.79B
| $60.6M | 2.13% |
5,000,000
-1,000,000
| -17% | -$12M |
|
|
14
AerCap
AER
$22.3B
| $57.5M | 2.03% |
+1,500,100
| New | +$35.3M |
|
|
15
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$806B
| $55.4M | 1.95% |
300,000
-1,600,000
| -84% | -$283M |
|
|
B
16
Barrick Mining
B
$72.9B
| $48.5M | 1.71% |
2,750,000
| – | – |
|
|
TWC
17
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
| $47.4M | 1.67% |
+350,000
| New | +$43.5M |
|
18
T-Mobile US
TMUS
$191B
| $42M | 1.48% |
+1,250,000
| New | +$34.3M |
|
|
B
19
PUT
Barrick Mining
B
$72.9B
| $39.7M | 1.4% |
2,250,000
| – | – |
|
|
20
Air Products & Chemicals
APD
$66B
| $39.1M | 1.38% |
+378,350
| New | +$38.1M |
|
|
BPO
21
DELISTED
BROOKFIELD OFFICE PROPERTIES. INC
BPO
| $32.7M | 1.15% |
1,700,000
+500,000
| +42% | +$9.53M |
|
|
DISCK
22
DELISTED
Discovery, Inc. Series C Common Stock
DISCK
| $30.6M | 1.08% |
729,196
| – | – |
|
|
EQC
23
DELISTED
Equity Commonwealth
EQC
| $28M | 0.98% |
1,200,000
| – | – |
|
24
UnitedHealth
UNH
$349B
| $26.4M | 0.93% |
+350,000
| New | +$25.1M |
|
|
25
PUT
Occidental Petroleum
OXY
$61.5B
| $23.8M | 0.84% |
+260,944
| New | +$23.8M |
|
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GFA
Empyrean Capital Partners's Q4 2013 Portfolio in Review
As of Q4 2013, Empyrean Capital Partners held 75 positions worth $2.84B, down 34% from $4.27B the previous quarter. Its ten largest holdings account for 66% of the portfolio.
Empyrean Capital Partners withdrew a net $393M in Q4 2013, closing 24 positions and reducing 7 holdings. Its most notable exit was Hess, an estimated $176M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 61% of assets, down from 71% a quarter earlier, followed by Energy and Communication Services.
Against the trend, Empyrean Capital Partners opened a new position in Thermo Fisher Scientific worth $86.3M.
- Empyrean Capital Partners's largest Q4 2013 buy was Thermo Fisher Scientific: 775,000 shares worth $86.3M.
- Empyrean Capital Partners added most to Lamar Advertising Co in Q4 2013, an estimated $41.5M increase.
- Empyrean Capital Partners's biggest Q4 2013 reduction was TYCO INTL PLC COM SHS (IRL), cutting an estimated $37.1M.
- Empyrean Capital Partners fully exited Hess in Q4 2013, selling an estimated $176M.
- Empyrean Capital Partners's ten largest holdings make up 66% of its $2.84B portfolio in Q4 2013.
- Empyrean Capital Partners opened 16 new positions and closed 24 in Q4 2013.
- Empyrean Capital Partners's portfolio value fell 34% quarter-over-quarter to $2.84B.
Based on Empyrean Capital Partners's 13F filing for Q4 2013, filed 13 Feb 2014.