MFN Partners Management, LP
Annual return '25
+14.0%
SPY '25
+17.7%
Alpha
-3.8ptsvs SPY
Invested
$4.8B
Holdings
9
Trades YTD
0
Performance · Fund vs SPY
Cumulative return · quarterly snapshotsCoverage 91%. 4 quarters of 2025 measured against SPY adj-close benchmark.
Top holdings · current snapshot
Source: 13F-HR01
$XPO
XPO INC
Q4 2025: Exited (was 11.43M shares)
46.6%
02
$TLN
TALEN ENERGY CORP
Q4 2025: Exited (was 3.00M shares)
20.1%
03
$QXO
QXO INC
Q4 2025: Exited (was 38.25M shares)
9.5%
04
$RXO
RXO INC
Q4 2025: Exited (was 27.58M shares)
8.6%
05
$PFSI
PENNYMAC FINL SVCS INC NEW
Q4 2025: Exited (was 4.53M shares)
8.3%
06
$OXY/WS
OCCIDENTAL PETE CORP
Q4 2025: Exited (was 5.69M shares)
5.1%
07
$BHC
BAUSCH HEALTH COS INC
Q4 2025: Exited (was 6.00M shares)
0.7%
08
$IE
IVANHOE ELECTRIC INC
Q4 2025: Exited (was 2.55M shares)
0.6%
09
$KRSP
RICE ACQUISITION CORP 3
Held since at least Q1 2024
0.5%
Recent trades · Last 90 days
No Form 4 / 13D / 13G trade events on file in the recent window. 13F filers report position snapshots quarterly rather than per-trade events, so this section is most useful for managers who also file Form 4 or 13D/G.
Convergence · Pattern Engine ships in v1.1
30-day windowIn development
Convergence participation lands with the Pattern Engine.
Once the Pattern Engine ships, this section will list every active convergence event this fund is named in — with the other named funds, the Congress members on the same name, and combined position size.
Source data: SEC EDGAR · 13F-HR filings · Performance through 2025-12-31 · Last refreshed 07:50 UTC.