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Empyrean Capital Partners, LP

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13F filer, CIK 1317195, LOS ANGELES, CA

Empyrean Capital Partners, LP reported $2,870,605,395 across 94 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17. Its ten largest share positions make up 35.88% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001317195-26-000001

Period
2025-12-31
Reported value
$2.87B
Holdings
94
Top 10 weight
35.88%
New
32
Sold out
24

Largest buys vs the previous quarter

SecurityShares changeApprox. value
AXTAnew+2,050,000$66.2M
UNHnew+193,000$63.7M
WBDnew+2,000,000$57.6M
VISNnew+2,060,000$37.3M
Bnew+821,000$35.8M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
SHELreduced-800,000-$58.8M
AERreduced-400,000-$57.5M
ECHOreduced-381,000-$41.4M
INFQexited-2,640,000-$34M
CAHreduced-109,600-$22.5M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0001317195-26-000001, largest first. % of portfolio is the value over $2,870,605,395, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
AERAERCAP HOLDINGS NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,600,000 shares; 2024Q4: 1,600,000 shares; 2025Q1: 1,382,000 shares; 2025Q2: 1,432,000 shares; 2025Q3: 1,500,000 shares; 2025Q4: 1,100,000 shares 1,100,000$158M5.51%-400,000Timeline
SHELSHELL PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,100,000 shares; 2024Q4: 2,300,000 shares; 2025Q1: 2,300,000 shares; 2025Q2: 2,300,000 shares; 2025Q3: 2,500,000 shares; 2025Q4: 1,700,000 shares 1,700,000$125M4.35%-800,000Timeline
BTIBRITISH AMERN TOB PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 950,000 shares; 2025Q3: 2,200,000 shares; 2025Q4: 2,200,000 shares 2,200,000$125M4.34%0Timeline
COFCAPITAL ONE FINL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 150,000 shares; 2025Q3: 308,000 shares; 2025Q4: 444,000 shares 444,000$108M3.75%+136,000Timeline
PCGPG&E CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,100,000 shares; 2024Q4: 5,897,000 shares; 2025Q1: 3,800,000 shares; 2025Q2: 4,100,000 shares; 2025Q3: 5,900,000 shares; 2025Q4: 5,900,000 shares 5,900,000$94.8M3.3%0Timeline
CVSCVS HEALTH CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 890,000 shares; 2025Q1: 1,531,000 shares; 2025Q2: 862,000 shares; 2025Q3: 1,042,500 shares; 2025Q4: 1,160,000 shares 1,160,000$92.1M3.21%+117,500Timeline
UNPUNION PAC CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 332,000 shares; 2025Q4: 373,800 shares 373,800$86.5M3.01%+41,800Timeline
TXNMTXNM ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,404,554 shares; 2024Q4: 1,404,554 shares; 2025Q1: 1,404,554 shares; 2025Q2: 1,442,554 shares; 2025Q3: 1,442,554 shares; 2025Q4: 1,442,554 shares 1,442,554$84.9M2.96%0Timeline
STZCONSTELLATION BRANDS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 451,000 shares; 2025Q4: 586,700 shares 586,700$80.9M2.82%+135,700Timeline
NMRKNEWMARK GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,360,150 shares; 2024Q4: 4,360,150 shares; 2025Q1: 4,360,150 shares; 2025Q2: 4,360,150 shares; 2025Q3: 4,360,150 shares; 2025Q4: 4,360,150 shares 4,360,150$75.6M2.63%0Timeline
MPCMARATHON PETE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 520,500 shares; 2025Q2: 531,000 shares; 2025Q3: 562,500 shares; 2025Q4: 436,500 shares 436,500$71M2.47%-126,000Timeline
ENVAENOVA INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 535,000 shares; 2024Q4: 462,800 shares; 2025Q1: 512,800 shares; 2025Q2: 567,538 shares; 2025Q3: 441,564 shares; 2025Q4: 441,564 shares 441,564$69.4M2.42%0Timeline
AXTAAXALTA COATING SYS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 2,050,000 shares 2,050,000$66.2M2.31%newTimeline
AAMIACADIAN ASSET MANAGEMENT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,880,634 shares; 2024Q4: 1,880,634 shares; 2025Q1: 1,880,634 shares; 2025Q2: 1,880,634 shares; 2025Q3: 1,541,108 shares; 2025Q4: 1,404,562 shares 1,404,562$66M2.3%-136,546Timeline
UNHUNITEDHEALTH GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 120,000 shares; 2025Q2: 94,000 shares; 2025Q3: not reported; 2025Q4: 193,000 shares 193,000$63.7M2.22%newTimeline
NSCNORFOLK SOUTHN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 136,500 shares; 2025Q4: 203,800 shares 203,800$58.8M2.05%+67,300Timeline
WBDWARNER BROS DISCOVERY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 2,000,000 shares 2,000,000$57.6M2.01%newTimeline
CAHCARDINAL HEALTH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 379,000 shares; 2025Q2: 311,300 shares; 2025Q3: 357,400 shares; 2025Q4: 247,800 shares 247,800$50.9M1.77%-109,600Timeline
LBRDKLIBERTY BROADBAND CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 320,561 shares; 2025Q1: 320,561 shares; 2025Q2: 920,781 shares; 2025Q3: 920,781 shares; 2025Q4: 920,781 shares 920,781$44.7M1.56%0Timeline
VTOLBRISTOW GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,120,000 shares; 2024Q4: 1,080,000 shares; 2025Q1: 1,130,000 shares; 2025Q2: 1,276,000 shares; 2025Q3: 1,276,000 shares; 2025Q4: 1,214,599 shares 1,214,599$44.5M1.55%-61,401Timeline
OPTUOPTIMUM COMMUNICATIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,000,000 shares; 2024Q4: 17,700,000 shares; 2025Q1: 20,100,000 shares; 2025Q2: 23,100,000 shares; 2025Q3: 23,100,000 shares; 2025Q4: 25,028,407 shares 25,028,407$41.3M1.44%+1,928,407Timeline
BCSSUBAIN CAP GSS INVT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 3,990,000 shares; 2025Q4: 3,990,000 shares 3,990,000$40.8M1.42%0Timeline
VSATVIASAT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,138,000 shares; 2025Q4: 1,138,000 shares 1,138,000$39.2M1.37%0Timeline
VISNVISTANCE NETWORKS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 2,060,000 shares 2,060,000$37.3M1.3%newTimeline
BBARRICK MNG CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 821,000 shares 821,000$35.8M1.25%newTimeline
CCXIUCHURCHILL CAP CORP XIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 3,500,000 shares 3,500,000$35.7M1.24%newTimeline
PSXPHILLIPS 66Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 178,000 shares; 2025Q3: 216,800 shares; 2025Q4: 264,800 shares 264,800$34.2M1.19%+48,000Timeline
ASHASHLAND INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 542,000 shares 542,000$31.8M1.11%newTimeline
NNNEXTNAV INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,461,065 shares; 2024Q4: 1,385,000 shares; 2025Q1: 1,685,000 shares; 2025Q2: 1,685,000 shares; 2025Q3: 1,886,000 shares; 2025Q4: 1,886,000 shares 1,886,000$31.4M1.09%0Timeline
THSTREEHOUSE FOODS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1,320,000 shares 1,320,000$31.1M1.08%newTimeline
NNINELNET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 231,000 shares; 2025Q4: 231,000 shares 231,000$30.7M1.07%0Timeline
KVUEKENVUE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1,732,000 shares 1,732,000$29.9M1.04%newTimeline
CCIXCHURCHILL CAPITAL CORP IXQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 2,900,000 shares; 2025Q1: 2,900,000 shares; 2025Q2: 2,633,582 shares; 2025Q3: 2,633,582 shares; 2025Q4: 2,633,582 shares 2,633,582$28M0.98%0Timeline
KBONUKARBON CAP PARTNERS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 2,632,752 shares 2,632,752$26.5M0.92%newTimeline
PPLIPEOPLE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 677,000 shares 677,000$26.5M0.92%newTimeline
QRVOQORVO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 309,000 shares 309,000$26.1M0.91%newTimeline
CMCSACOMCAST CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 868,700 shares 868,700$26M0.9%newTimeline
NGNOVAGOLD RESOURCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 570,000 shares; 2024Q4: 570,000 shares; 2025Q1: 1,933,066 shares; 2025Q2: 6,539,000 shares; 2025Q3: 4,893,566 shares; 2025Q4: 2,705,100 shares 2,705,100$25.2M0.88%-2,188,466Timeline
PPTAPERPETUA RESOURCES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,396,500 shares; 2025Q3: 1,517,953 shares; 2025Q4: 1,028,853 shares 1,028,853$24.9M0.87%-489,100Timeline
CRLCHARLES RIV LABS INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 121,500 shares 121,500$24.2M0.84%newTimeline
LBRDALIBERTY BROADBAND CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 500,000 shares; 2025Q3: 500,000 shares; 2025Q4: 500,000 shares 500,000$24.1M0.84%0Timeline
IQVIQVIA HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 104,650 shares 104,650$23.6M0.82%newTimeline
MDLZMONDELEZ INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 418,000 shares 418,000$22.5M0.78%newTimeline
LBRTLIBERTY ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1,200,000 shares 1,200,000$22.2M0.77%newTimeline
ECHOECHOSTAR CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 313,000 shares; 2025Q3: 570,000 shares; 2025Q4: 189,000 shares 189,000$20.5M0.72%-381,000Timeline
BXSLBLACKSTONE SECD LENDING FDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 765,000 shares 765,000$20.1M0.7%newTimeline
KMBKIMBERLY-CLARK CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 187,200 shares 187,200$18.9M0.66%newTimeline
AMBPARDAGH METAL PACKAGING S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,000,000 shares; 2024Q4: 4,000,000 shares; 2025Q1: 4,000,000 shares; 2025Q2: 4,000,000 shares; 2025Q3: 4,000,000 shares; 2025Q4: 4,000,000 shares 4,000,000$16.4M0.57%0Timeline
SBGISINCLAIR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,060,000 shares; 2024Q4: 1,144,493 shares; 2025Q1: 1,144,493 shares; 2025Q2: 1,144,493 shares; 2025Q3: 1,144,493 shares; 2025Q4: 1,044,493 shares 1,044,493$16M0.56%-100,000Timeline
GTENGORES HLDGS X INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,475,000 shares; 2025Q4: 1,475,000 shares 1,475,000$15.1M0.53%0Timeline
CTRICENTURI HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 578,000 shares 578,000$14.6M0.51%newTimeline
RACRITHM ACQUISITION CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 716,485 shares; 2025Q4: 1,389,513 shares 1,389,513$14.4M0.5%+673,028Timeline
TFXTELEFLEX INCORPORATEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 118,000 shares 118,000$14.4M0.5%newTimeline
AEXAAMERICAN EXCEPTIONALISM ACQUQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,230,000 shares; 2025Q4: 1,230,000 shares 1,230,000$14M0.49%0Timeline
SIRISIRIUSXM HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 905,623 shares; 2024Q4: 905,623 shares; 2025Q1: 905,623 shares; 2025Q2: 905,623 shares; 2025Q3: 905,623 shares; 2025Q4: 692,775 shares 692,775$13.9M0.48%-212,848Timeline
TDSTELEPHONE & DATA SYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 375,000 shares; 2024Q4: 325,000 shares; 2025Q1: 325,000 shares; 2025Q2: 325,000 shares; 2025Q3: 300,000 shares; 2025Q4: 300,000 shares 300,000$12.3M0.43%0Timeline
ACICAMERICAN COASTAL INS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 154,500 shares; 2024Q4: 840,500 shares; 2025Q1: 940,500 shares; 2025Q2: 940,500 shares; 2025Q3: 940,500 shares; 2025Q4: 940,500 shares 940,500$11.9M0.41%0Timeline
DSACUDAEDALUS SPL ACQUISITION CORQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1,132,000 shares 1,132,000$11.4M0.4%newTimeline
LLYVKLIBERTY LIVE HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 134,300 shares 134,300$11.2M0.39%newTimeline
GLIBKLIBERTY CAP CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 184,156 shares; 2025Q4: 293,218 shares 293,218$10.9M0.38%+109,062Timeline
RNAMAVIDITY BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 143,000 shares 143,000$10.3M0.36%newTimeline
OACCOAKTREE ACQUISITION CORP IIIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 750,000 shares; 2025Q4: 900,000 shares 900,000$9.52M0.33%+150,000Timeline
VHCPUVINE HILL CAP INVTS CORP IIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 950,000 shares 950,000$9.52M0.33%newTimeline
SNCYSUN CTRY AIRLS HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 557,042 shares; 2025Q3: 732,042 shares; 2025Q4: 640,000 shares 640,000$9.21M0.32%-92,042Timeline
AGIALAMOS GOLD INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 558,000 shares; 2024Q4: 400,000 shares; 2025Q1: 400,000 shares; 2025Q2: 300,000 shares; 2025Q3: 391,300 shares; 2025Q4: 203,300 shares 203,300$7.84M0.27%-188,000Timeline
LLYVALIBERTY LIVE HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 72,250 shares 72,250$5.89M0.21%newTimeline
INFQ/WSCHURCHILL CAPITAL CORP XQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 762,500 shares 762,500$5.87M0.2%newTimeline
LADLITHIA MTRS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 15,400 shares 15,400$5.12M0.18%newTimeline
AEMAGNICO EAGLE MINES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 95,000 shares; 2024Q4: 100,000 shares; 2025Q1: 100,000 shares; 2025Q2: 100,000 shares; 2025Q3: 86,800 shares; 2025Q4: 27,700 shares 27,700$4.7M0.16%-59,100Timeline
OXYOCCIDENTAL PETE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 232,600 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 191,000 shares; 2025Q4: 104,900 shares 104,900$4.31M0.15%-86,100Timeline
EQTEQT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 71,600 shares; 2025Q3: 71,600 shares; 2025Q4: 71,600 shares 71,600$3.84M0.13%0Timeline
EXEEXPAND ENERGY CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 34,500 shares; 2025Q3: 34,500 shares; 2025Q4: 34,500 shares 34,500$3.81M0.13%0Timeline
GLIBALIBERTY CAP CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 99,999 shares; 2025Q4: 99,999 shares 99,999$3.69M0.13%0Timeline
FRNMPERCEPTIVE CAP SOLUTIONS CORQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 282,100 shares 282,100$3.68M0.13%newTimeline
RRCRANGE RES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 101,300 shares; 2025Q3: 101,300 shares; 2025Q4: 101,300 shares 101,300$3.57M0.12%0Timeline
ARANTERO RESOURCES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 101,400 shares; 2025Q3: 101,400 shares; 2025Q4: 101,400 shares 101,400$3.49M0.12%0Timeline
CEPFCANTOR EQUITY PARTNERS IV INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 300,000 shares; 2025Q4: 300,000 shares 300,000$3.08M0.11%0Timeline
CTRACOTERRA ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 115,400 shares; 2025Q3: 115,400 shares; 2025Q4: 115,400 shares 115,400$3.04M0.11%0Timeline
VCICVINE HILL CAP INVT CORP.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 266,123 shares 266,123$2.87M0.1%newTimeline
CRKCOMSTOCK RES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 118,900 shares; 2025Q3: 118,900 shares; 2025Q4: 118,900 shares 118,900$2.76M0.1%0Timeline
CAEPCANTOR EQUITY PARTNERS III IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 250,000 shares; 2025Q3: 250,000 shares; 2025Q4: 250,000 shares 250,000$2.55M0.09%0Timeline
CCIXWCHURCHILL CAPITAL CORP IXQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 440,000 shares; 2025Q1: 440,000 shares; 2025Q2: 440,000 shares; 2025Q3: 440,000 shares; 2025Q4: 440,000 shares 440,000$389K0.01%0Timeline
COCHWENVOY MEDICAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 75,000 shares; 2024Q4: 75,000 shares; 2025Q1: 75,000 shares; 2025Q2: 75,000 shares; 2025Q3: 75,000 shares; 2025Q4: 75,000 shares 75,000$2.92K<0.01%0Timeline
BENFWBENEFICIENTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 100,000 shares; 2024Q4: 100,000 shares; 2025Q1: 100,000 shares; 2025Q2: 100,000 shares; 2025Q3: 100,000 shares; 2025Q4: 100,000 shares 100,000$1.06K<0.01%0Timeline

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

SecurityTypeAmountValueChange
VISHAY INTERTECHNOLOGY INCVISHAY INTERTECHNOLOGY INC NOTE 2.250% 9/1principal44,000,000$39.6M+2,000,000
MKS INC.MKS INC. NOTE 1.250% 6/0principal23,800,000$30.4M-1,200,000
PAGERDUTY INCPAGERDUTY INC NOTE 1.500%10/1principal28,500,000$27.1M-4,000,000
ANI PHARMACEUTICALS INCANI PHARMACEUTICALS INC NOTE 2.250% 9/0principal21,000,000$26.5M-2,000,000
ON SEMICONDUCTOR CORPON SEMICONDUCTOR CORP NOTE 0.500% 3/0principal25,000,000$23.7M+1,000,000
AMPHASTAR PHARMACEUTICALS INAMPHASTAR PHARMACEUTICALS IN NOTE 2.000% 3/1principal16,265,000$15M+1,265,000
PENGUIN SOLUTIONS INCPENGUIN SOLUTIONS INC NOTE 2.000% 8/1principal10,500,000$10.7M0
ITRON INCITRON INC NOTE 1.375% 7/1principal5,000,000$5.05Mnew
CABLE ONE INCCABLE ONE INC NOTE 3/1principal4,000,000$3.94Mnew
BLACKLINE INCBLACKLINE INC NOTE 1.000% 6/0principal1,500,000$1.59M-42,500,000

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
INFQINFLEQTION INC2,640,000$34Mshares
ADVANCED ENERGY INDSADVANCED ENERGY INDS22,500,000$31.2Mprincipal
TECKTECK RESOURCES LTD500,000$21.9Mshares
LLYVKLIBERTY MEDIA CORP DEL175,771$17Mshares
ALITALIGHT INC4,930,000$16.1Mshares
SDRLSEADRILL LTD374,420$11.3Mshares
EVACUEQV VENTURES AC CORP. II1,000,000$10Mshares
NGDNEW GOLD INC1,309,428$9.4Mshares
VALVALARIS LTD191,700$9.35Mshares
LLYVALIBERTY MEDIA CORP94,563$8.92Mshares
BPBP PLC245,000$8.44Mshares
SOCAUSOLARIUS CAPITAL ACQU CORP700,000$7.38Mshares
HNRGHALLADOR ENERGY COMPANY354,476$6.94Mshares
NXENEXGEN ENERGY LTD751,000$6.72Mshares
MAGNMAGNERA CORP436,260$5.11Mshares
AKAMAKAMAI TECHNOLOGIES INC58,000$4.39Mshares
NENOBLE CORP PLC137,000$3.87Mshares
ULCCFRONTIER GROUP HLDGS INC723,439$3.19Mshares
AMNAMN HEALTHCARE SVCS INC150,000$2.9Mshares
CONMED CORPCONMED CORP2,500,000$2.38Mprincipal
FCRSUFUTURECREST ACQUISITION CORP175,000$1.85Mshares
BDCIUBTC DEV CORP150,000$1.51Mshares
TONXTON STRATEGY CO192,621$1.36Mshares
SABRSABRE CORP400,000$732Kshares

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001317195-26-000001 base2026-02-17acceptance time not in the bulk data set