Empyrean Capital Partners, LP

Hedge Fund • Event Driven

Empyrean Capital Partners, LP is an Event Driven Hedge Fund based in Los Angeles, CA led by Amos Meron, reporting $4.9B in AUM as of Q3 2025 with AER as the largest holding (9% allocation).

CIOAmos Meron

Portfolio Value: $1.9B
Positions: 70
Top Holding: AER at 9.44%
Last Reported: Q3 2025

Address10250 Constellation Blvd., Suite 2950, Los Angeles, CA, 90067, United States

Top Holdings

Largest long holdings in Empyrean Capital Partners, LP's portfolio (46.7% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 AerCap Holdings N.V. AER	Rental & Leasing Services Industrials	$181.5M	9.44%	+$8.2M Bought	0.84% 1.5M shares	Q4 2020 Held for 4y 11m
2 Marathon Petroleum MPC	Oil & Gas Refining & Marketing Energy	$108.4M	5.64%	+$6.1M Bought	0.19% 562.5K shares	Q1 2025 Held for 8 months
3 PG&E PCG	Regulated Electric Utilities	$89.0M	4.63%	+$27.1M Bought	0.27% 5.9M shares	Q4 2023 Held for 1y 11m
4 TXNM Energy TXNM	Unknown Unknown	$81.6M	4.24%	—	1.37% 1.4M shares	Q2 2024 Held for 1y 5m
5 Newmark Group, Inc. NMRK	Real Estate - Services Real Estate	$81.3M	4.23%	—	2.47% 4.4M shares	Q1 2020 Held for 5y 8m
6 CVS Health CVS	Medical - Healthcare Plans Healthcare	$78.6M	4.09%	+$13.6M Bought	0.08% 1.0M shares	Q4 2024 Held for 11 months
7 Union Pacific UNP	Railroads Industrials	$78.5M	4.08%	+$78.5M New	0.06% 332.0K shares	Q3 2025 Held for 2 months
8 Acadian Asset Management Inc. AAMI	Unknown Unknown	$74.2M	3.86%	-$16.4M Sold	4.30% 1.5M shares	Q4 2024 Held for 11 months
9 Capital One Financial COF	Financial - Credit Services Financial Services	$65.5M	3.40%	+$33.6M Bought	0.05% 308.0K shares	Q2 2025 Held for 5 months
10 Constellation Brands STZ	Beverages - Wineries & Distilleries Consumer Defensive	$60.7M	3.16%	+$60.7M Bought	0.26% 451.0K shares	Q3 2025 Held for 2 months

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Empyrean Capital Partners, LP's latest filing

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Market Value

$1.9B

Prior: $1.8B

Q/Q Change

+9.29%

+$163.6M

Net Flows % of MV

-0.233%

Turnover Ratio

26.84%

New Purchases

16 stocks

$327.9M

Added To

12 stocks

+$131.4M

Sold Out Of

9 stocks

$378.4M

Reduced Holdings

12 stocks

-$85.3M

Increased Positions

Position	Shares Δ	Change
1 Union Pacific UNP	New	0 → 332.0K +$78.5M
2 Norfolk Southern NSC	New	0 → 136.5K +$41.0M
3 BCSS Bain Capital GSS Investment BCSS	New	0 → 4.0M +$40.3M
4 CCCX Churchill Capital Corp X Class A Ordinary Shares CCCX	New	0 → 2.6M +$34.0M
5 Viasat VSAT	New	0 → 1.1M +$33.3M

Decreased Positions

Position	Shares Δ	Change
1 Hess HES	Sold	906.0K → 0 −$125.5M
2 SPDR S&P 500 ETF Trust SPY	Sold	124.8K → 0 −$77.1M
3 Skechers SKX	Sold	821.0K → 0 −$51.8M
4 JHX James Hardie Industries plc JHX	Sold	1.3M → 0 −$33.8M
5 JHX James Hardie Industries JHX	Sold	1.3M → 0 −$33.8M