MFN Partners Management, LP — 13F Holdings & Portfolio
CIK 1732811 · latest 13F-HR filed 2026-08-12
MFN Partners Management, LP manages $4.83B in 13F-reported U.S. long-equity assets across 9 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are XPO (41.91%), TLN (23.85%), RXO (16.04%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 0 new positions and exited 1; 3 existing positions rose in reported value and 4 fell.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
Long-equity book
Distinct positions
Filed 2026-08-12
vs 2026-03-31
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
Portfolio map
Q2 26Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.
Sector mix
% of 13F valueSectors from each company's SIC code; funds and ETFs grouped separately.
Biggest buys and sells
Q1 26 → Q2 26Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.
13F assets and positions
3 quartersTotal reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.
Top positions over time
reported valueThe eight largest current positions, valued at each quarter end.
Concentration
top 10 = 100%Cumulative share of the portfolio held in the largest N positions.
As of the firm’s regulatory filing dated Mar 25, 2026.
13TH FLOOR
BOSTON, MA 02116
| Name | Title / Status | Ownership | Type |
|---|---|---|---|
| DEMICHELE, MICHAEL, FRANK Control | FOUNDER since Nov 2016 | 25–50% | Individual |
| HART, MEGAN Control | CHIEF OPERATING OFFICER since Sep 2023 | Less than 5% | Individual |
| MFN PARTNERS MANAGEMENT LLC Control | GENERAL PARTNER since Nov 2016 | Less than 5% | Domestic Entity |
| NANJI, FARHAD Control | FOUNDER since Nov 2016 | 25–50% | Individual |
| REISMAN, JONATHAN, PAUL Control | CHIEF COMPLIANCE OFFICER, GENERAL COUNSEL since Dec 2017 | Less than 5% | Individual |
| Rives, Maureen, McCabe Control | CHIEF FINANCIAL OFFICER since Sep 2023 | Less than 5% | Individual |
| DEMICHELE, MICHAEL, FRANK Control Indirect owner via MFN PARTNERS MANAGEMENT LLC | MEMBER since Nov 2016 | 50–75% | Individual |
| NANJI, FARHAD Control Indirect owner via MFN PARTNERS MANAGEMENT LLC | MEMBER since Nov 2016 | 50–75% | Individual |
Ownership & leadership changes · 2 filings with changes since Jan 12, 2018
From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.
- AddedRives, Maureen, McCabe · CHIEF FINANCIAL OFFICER · Less than 5% · control person
- ChangedHART, MEGAN · title CHIEF FINANCIAL OFFICER → CHIEF OPERATING OFFICER
- ChangedREISMAN, JONATHAN, PAUL · title CCO, GENERAL COUNSEL → CHIEF COMPLIANCE OFFICER, GENERAL COUNSEL
- ListedDEMICHELE, MICHAEL, FRANK · FOUNDER · 25–50% · control person
- ListedDEMICHELE, MICHAEL, FRANK · MEMBER · 50–75% · indirect via MFN PARTNERS MANAGEMENT LLC · control person
- ListedHART, MEGAN · CHIEF FINANCIAL OFFICER · Less than 5% · control person
- ListedMFN PARTNERS MANAGEMENT LLC · GENERAL PARTNER · Less than 5% · control person
- ListedNANJI, FARHAD · FOUNDER · 25–50% · control person
- ListedNANJI, FARHAD · MEMBER · 50–75% · indirect via MFN PARTNERS MANAGEMENT LLC · control person
- ListedREISMAN, JONATHAN, PAUL · CCO, GENERAL COUNSEL · Less than 5% · control person
Quarter-over-quarter changes
Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.
Top Adds (vs prior quarter)
- RXO INC$364.6M +88.7%
- TALEN ENERGY CORP$195.1M +20.4%
- RICE ACQUISITION CORP 3$76.0K +23.8%
Top Trims
- XPO INC-$196.7M -8.8%
- QXO INC-$50.2M -11.0%
- IVANHOE ELECTRIC INC-$5.6M -18.7%
- BAUSCH HEALTH COS INC-$2.8M -8.7%
MFN Partners Management, LP Holdings (2026-06-30)
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | XPO INC | XPO | 983793100 | $2.03B | 41.91% | 9,869,691 | SH |
| 2 | TALEN ENERGY CORP | TLN | 87422Q109 | $1.15B | 23.85% | 3,000,000 | SH |
| 3 | RXO INC | RXO | 74982T103 | $775.6M | 16.04% | 28,109,942 | SH |
| 4 | QXO INC | QXO | 82846H405 | $405.3M | 8.38% | 23,454,350 | SH |
| 5 | PENNYMAC FINL SVCS INC NEW | PFSI | 70932M107 | $394.7M | 8.17% | 4,531,792 | SH |
| 6 | BAUSCH HEALTH COS INC | BHC | 071734107 | $29.6M | 0.61% | 6,000,000 | SH |
| 7 | RICE ACQUISITION CORP 3 | KRSP | G7553X106 | $25.2M | 0.52% | 2,400,000 | SH |
| 8 | IVANHOE ELECTRIC INC | IE | 46578C108 | $24.5M | 0.51% | 2,553,191 | SH |
| 9 | RICE ACQUISITION CORP 3 | KRSP.WS | G7553X114 | $396.0K | 0.01% | 400,000 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-08-12 | $4.83B | 9 | 0000904454-26-000440 |
| 2026-03-31 | 2026-05-14 | $4.77B | 10 | 0000904454-26-000287 |
| 2025-12-31 | 2026-05-01 | $24.9M | 2 | 0000904454-26-000248 |
| 2025-12-31 | 2026-02-12 | $4.71B | 9 | 0000904454-26-000091 |
BOSTON, MA 02116