MFN Partners Management, LP

All Holdings — 2025 Q4

AI Portfolio Summary
In 2025 Q4, MFN Partners Management, LP maintained a portfolio of 9 distinct positions. The fund also reduced its exposure to QXO INC by 20.8%.
PCA Score Concentration Risk
Risk ENB
Total Positions
9
Quarter
2025 Q4
Top Holding
XPO (33.0%)
Top 10 Concentration
100.0%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
1-9 of 9
Stock History Sector / Type Port % Prev % Rank / Prev Conviction Change % Change Influence Shares Mkt Value Avg Cost Price Held 1st Owned Source Source Date Date Reported
XPO
XPO INC
Industrials 32.99% 29.83% #1
Prev: #1
10.0 no change no change
P
S
11,425,369 $1,552,821,901 2018 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
TLN
TALEN ENERGY CO...
Utilities 23.89% 25.77% #2
Prev: #2
9.6 no change no change
P
S
3,000,000 $1,124,520,000 2024 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
PFSI
PENNYMAC FINL S...
Financial Services 12.69% 11.34% #3 1
Prev: #4
5.1 no change no change
P
S
4,531,792 $597,471,457 2021 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
QXO
QXO INC
Industrials 12.41% 14.72% #4 1
Prev: #3
5.0 -7,973,524 -20.8%
P
S
30,277,326 $584,049,619 2024 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
RXO
RXO INC
Industrials 7.41% 8.57% #5
Prev: #5
3.0 no change no change
P
S
27,577,666 $348,581,698 2022 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
CNX
CNX RES CORP
Energy 6.52% 5.42% #6
Prev: #6
2.6 no change no change
P
S
8,350,000 $307,029,500 2024 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
OXY/WS
OCCIDENTAL PETE...
Unknown 2.33% 2.93% #7
Prev: #7
0.9 no change no change
P
S
5,690,600 $109,640,790 2020 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
BHC
BAUSCH HEALTH C...
Healthcare 0.89% 0.78% #8
Prev: #8
0.4 no change no change
P
S
6,000,000 $41,700,000 2022 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
IE
IVANHOE ELECTRI...
Basic Materials 0.87% 0.65% #9
Prev: #9
0.3 no change no change
P
S
2,553,191 $40,799,992 2022 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
Showing 1-9 of 9 holdings

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