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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
+12.52%
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
$2.84B
AUM Growth
-$1.43B
Cap. Flow
-$1.64B
Cap. Flow %
-57.89%
Top 10 Hldgs %
66.32%
Holding
75
New
16
Increased
8
Reduced
7
Closed
24

Top Buys

Rank Stock Value
1
TMO icon
Thermo Fisher Scientific
TMO
+$77.1M
2
TWC
TIME WARNER CABLE INC NEW COM STK
TWC
+$43.5M
3
LAMR icon
Lamar Advertising Co
LAMR
+$41.5M
4
APD icon
Air Products & Chemicals
APD
+$38.1M
5
AER icon
AerCap
AER
+$35.3M

Top Sells

Rank Stock Value
1
HES
Hess
HES
+$176M
2
CTSH icon
Cognizant
CTSH
+$140M
3
JAH
JARDEN CORPORATION
JAH
+$58.1M
4
PENN icon
PENN Entertainment
PENN
+$54M
5
STZ icon
Constellation Brands
STZ
+$45.9M

Sector Composition

Rank Sector Weight
1 Energy 10.19%
2 Communication Services 5.72%
3 Real Estate 5.36%
4 Technology 4.33%
5 Healthcare 3.98%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPY icon
1
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$778B
$776M 27.31%
4,200,000
+1,100,000
+35% +$195M
B
2
CALL
Barrick Mining
B
$62.2B
$198M 6.98%
11,250,000
– –
OXY icon
3
CALL
Occidental Petroleum
OXY
$57B
$176M 6.19%
1,930,983
+365,321
+23% +$33.4M
OXY icon
4
Occidental Petroleum
OXY
$57B
$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
LAMR icon
7
Lamar Advertising Co
LAMR
$16.2B
$91.4M 3.22%
1,750,000
+850,000
+94% +$41.5M
TMO icon
8
Thermo Fisher Scientific
TMO
$211B
$86.3M 3.04%
+775,000
New +$77.1M
INTC icon
9
PUT
Intel
INTC
$466B
$74M 2.6%
4,000,000
-6,500,000
-62% -$157M
FWONA icon
10
Liberty Media Series A
FWONA
$22.3B
$73.1M 2.57%
2,814,485
– –
XLE icon
11
PUT
State Street Energy Select Sector SPDR ETF
XLE
$39.5B
$72.6M 2.55%
1,640,000
-3,860,000
-70% -$166M
AAL icon
12
PUT
American Airlines Group
AAL
$9.58B
$63.1M 2.22%
+2,500,000
New +$64.4M
TFSL icon
13
TFS Financial
TFSL
$5.1B
$60.6M 2.13%
5,000,000
-1,000,000
-17% -$12M
AER icon
14
AerCap
AER
$23.9B
$57.5M 2.03%
+1,500,100
New +$35.3M
SPY icon
15
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$778B
$55.4M 1.95%
300,000
-1,600,000
-84% -$283M
B
16
Barrick Mining
B
$62.2B
$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
TMUS icon
18
T-Mobile US
TMUS
$193B
$42M 1.48%
+1,250,000
New +$34.3M
B
19
PUT
Barrick Mining
B
$62.2B
$39.7M 1.4%
2,250,000
– –
APD icon
20
Air Products & Chemicals
APD
$66.3B
$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
– –
UNH icon
24
UnitedHealth
UNH
$382B
$26.4M 0.93%
+350,000
New +$25.1M
OXY icon
25
PUT
Occidental Petroleum
OXY
$57B
$23.8M 0.84%
+260,944
New +$23.8M
1
2 3

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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 $1.64B 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 Energy at 10% of assets, up from 9.7% a quarter earlier, followed by Communication Services and Real Estate.

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.