MFN Partners Management, LP

Q4 2025 13F-HR Holdings

Location
Boston, MA
Holdings as of
12/31/2025
Date filed
2/12/2026
Form type
13F-HR
Num holdings
9
Total value ($000)
$4,706,615
Net value change ($000)
-245,141 (-5.0%)
New positions
0
Sold out positions
0
Turnover %
0.0%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/13/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
XPO 75,865 5.1%
CNX 38,828 14.5%
PFSI 36,073 6.4%
IE 8,757 27.3%
BHC 3,000 7.8%
Top Reduces (Value $000, Stocks/ETFs)
TLN -151,620 -11.9%
QXO -145,011 -19.9%
RXO -75,563 -17.8%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type