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MFN Partners Portfolio holdings
AUM
$4.83B
Turnover
10%
1-Year Est. Return
65.74%
This Fund
S&P 500
This Quarter
Est. Return
+21.68%
1 Year Est. Return
+65.74%
3 Year Est. Return
+171.93%
5 Year Est. Return
+273.92%
10 Year Est. Return
–
AUM
$4.77B
AUM Growth
+$43.3M
(+0.91%)
Cap. Flow
-$455M
Cap. Flow
% of AUM
-9.54%
Top 10 Holdings %
Top 10 Hldgs %
100%
Holding
11
New
–
Increased
1
Reduced
1
Closed
1
Avg Time Held
3.2
years
Top 10 Avg Time Held
2.6
years
Top 20 Avg Time Held
3.2
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
RXO
RXO
|
+$7.81M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
CNX Resources
CNX
|
+$307M |
| 2 |
QXO Inc
QXO
|
+$156M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 64.7% |
| 2 | Utilities | 20.06% |
| 3 | Financials | 8.81% |
| 4 | Miscellaneous | 5.12% |
| 5 | Healthcare | 0.68% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
XPO
XPO
$22.1B
| $2.22B | 46.55% |
11,425,369
| – | – |
2018 Q4
29 quarters
|
|
2
Talen Energy Corp
TLN
$16.7B
| $958M | 20.06% |
3,000,000
| – | – |
2024 Q3
6 quarters
|
|
|
3
QXO Inc
QXO
$11.6B
| $455M | 9.54% |
23,454,350
-6,822,976
| -23% | -$156M |
2024 Q3
6 quarters
|
|
|
4
RXO
RXO
$4.79B
| $411M | 8.61% |
28,109,942
+532,276
| +2% | +$7.81M |
2022 Q4
13 quarters
|
|
5
PennyMac Financial
PFSI
$3.18B
| $396M | 8.3% |
4,531,792
| – | – |
2021 Q1
20 quarters
|
|
6
Occidental Petroleum Corp Warrants
OXY.WS
$36.4B
| $244M | 5.11% |
5,690,600
| – | – |
2020 Q3
22 quarters
|
|
7
Bausch Health
BHC
$2.36B
| $32.4M | 0.68% |
6,000,000
| – | – |
2022 Q3
14 quarters
|
|
8
Ivanhoe Electric
IE
$1.39B
| $30.2M | 0.63% |
2,553,191
| – | – |
2022 Q2
15 quarters
|
|
9
Rice Acquisition Corporation 3
KRSP
$482M
| $24.7M | 0.52% |
2,400,000
| – | – |
2025 Q4
1 quarter
|
|
|
10
Rice Acquisition Corp Warrants
KRSP.WS
| $320K | 0.01% |
400,000
| – | – |
2025 Q4
1 quarter
|
|
|
11
CNX Resources
CNX
$5.12B
| – | – |
-8,350,000
| Closed | -$307M | – |
|
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MFN Partners's Q1 2026 Portfolio in Review
As of Q1 2026, MFN Partners held 11 positions worth $4.77B, up 0.91% from $4.73B the previous quarter. Its ten largest holdings account for 100% of the portfolio.
MFN Partners withdrew a net $455M in Q1 2026, closing 1 position and reducing 1 holding. Its most notable exit was CNX Resources, an estimated $307M position sold in full.
By sector, the portfolio is most concentrated in Industrials at 65% of assets, up from 53% a quarter earlier, followed by Utilities and Financials.
Against the trend, MFN Partners added an estimated $7.81M to RXO.
- MFN Partners added most to RXO in Q1 2026, an estimated $7.81M increase.
- MFN Partners's biggest Q1 2026 reduction was QXO Inc, cutting an estimated $156M.
- MFN Partners fully exited CNX Resources in Q1 2026, selling an estimated $307M.
- MFN Partners's ten largest holdings make up 100% of its $4.77B portfolio in Q1 2026.
- MFN Partners opened 0 new positions and closed 1 in Q1 2026.
- MFN Partners's portfolio value rose 0.91% quarter-over-quarter to $4.77B.
Based on MFN Partners's 13F filing for Q1 2026, filed 14 May 2026.