MFN Partners Management portfolio
Concentrated managerInvestment firmPortfolio as of Jun 30, 2026 (Q2 2026) · filed with the SEC on Aug 12, 2026 · data updated on Nov 5, 2026 · Q2 2026 13F (filing) ↗ · all its 13F filings ↗
A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.
MFN Partners Management reported a $4.8 bn portfolio of 9 positions to the SEC as of the end of Q2 2026. Its largest positions are XPO, TLN, RXO. During the quarter it exited Occidental Petroleum.
Sections with a free account
What changed this quarter
2 positions with a change (1 trimmed, 1 sold). 2 are listed here: those of 0.5 points of the portfolio or more (up to 12).
- XPO−14%fewer sharesReduced46.6% → 41.9%
- Occidental Petroleum−5.1 ppof portfolioSold out5.1% → —
The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight: what it bought or sold, excluding price effects.
Top holdings
- XPOXPO41.9%
- Talen EnergyTLN23.8%
- RXORXO16.0%
- QXOQXO8.4%
- PennyMac Financial ServicesPFSI8.2%
- Bausch Health CompaniesBHC0.6%
- Rice Acquisition Corporation 3KRSP0.5%
- Ivanhoe ElectricIE0.5%
- Rice Acquisition Corp 3KRSP/WS(warrant)under 0.1%
“Since”: first quarter of the current run, unbroken until today. In the details, prices are the quarter-end prices of the quarters in which it added shares, per the 13F. The manager may have bought at any price within each quarter; the SEC only publishes the value at quarter end.
Portfolio by sector
- ● Industrials 66%
- ● Utilities 24%
- ● Financials 8%
- ● Health Care 1%
- ● SPAC / vehículos 1%
- ● Materials 1%
How its portfolio changed (8 quarters)
Q2 2026: 9
Q2 2026: 100%
Q2 2026: 5.8%
Traded turnover: the weight it bought plus the weight it sold in the quarter, divided by two, excluding price moves. The plain “turnover” in the header does include that effect. With a free account: the full history and sectors over time.
13F filings with amendments or confidential positions
- 13F Q4 2025 ↗filed Feb 12, 2026Amendment of May 1, 2026 (adds holdings) ↗2 positions known later through an amendment, worth $24.9M: they could not be copied when the 13F was published.
Stakes above 5% (13D/13G)
Companies where this filer reported holding 5% or more of the shares. It is the figure from its latest filing on each one; history since December 2024.
How we classify it
Investment firm, per its Form ADV of Mar 25, 2026 (high confidence).
The data, as reported: MFN PARTNERS MANAGEMENT, LP (CRD 291755): 7.B private funds: 1 hedge (gross assets $12.4 bn); 5.D assets by client type: pooled vehicles 100% (of $12.4 bn)
The type comes from a rule applied to that data. If it looks wrong, tell us.
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