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Livermore
Livermore
ZHEN

MFN Partners Management, LP

SEC CIK
0001732811
Latest filing
Aug 12, 2026

The latest 13F from MFN Partners Management, LP covers Q2 2026 (filed Aug 12, 2026): 9 long positions worth $4.83B. The top 10 holdings make up 100.0% of the portfolio, and the largest is XPO, Inc. (XPO) at 41.9%. Livermore has 24 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
0
Added
0
Reduced
1
Est. −$319.4M
Sold out
1
Est. −$244.1M

Top 5 holdings

Share of this quarter's portfolio value

  1. XPOXPO, Inc.
    41.9%$2.03BHistory
  2. TLNTalen Energy Corp
    23.8%$1.15BHistory
  3. RXORXO, Inc.
    16.0%$775.6MHistory
  4. QXOQXO, Inc.
    8.4%$405.3MHistory
  5. PFSIPennyMac Financial Services, Inc.
    8.2%$394.7MHistory

Biggest buys

New and added positions, by estimated amount bought

None this quarter.

Largest weight increases

New and added positions, by percentage points of the portfolio gained

None this quarter.

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. XPOXPO, Inc.
    −$319.4MReducedHistory
  2. Occidental Pete Corp WT Exp 080327674599162
    −$244.1MSold out

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. Occidental Pete Corp WT Exp 080327674599162
    −5.11 pp5.1% → 0.0%
  2. XPOXPO, Inc.
    −4.64 pp46.6% → 41.9%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$4.83B
+$59.4M (+1.2%) vs. prior quarter
Positions
9
−1 vs. prior quarter
Top 10 concentration
100.0%
Top 10 as share of value
Turnover
0.0%
Q2 2026, one quarter
Average holding period
16.2 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $5.08B (Q4 2024)

Q1 2021: $1.32BQ2 2021: $1.86BQ3 2021: $2.18BQ4 2021: $2.54BQ1 2022: $2.89BQ2 2022: $2.21BQ3 2022: $2.21BQ4 2022: $2.27BQ1 2023: $2.21BQ2 2023: $3.08BQ3 2023: $2.98BQ4 2023: $3.11BQ1 2024: $3.52BQ2 2024: $2.95BQ3 2024: $5.07BQ4 2024: $5.08BQ1 2025: $4.25BQ2 2025: $4.67BQ3 2025: $4.95BQ4 2025: $4.73BQ1 2026: $4.77BQ2 2026: $4.83B
Q1 2021Q2 2026
13F filings of MFN Partners Management, LP by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 12, 20269$4.83BXPOTLNRXOvs. Q1 2026SEC
Q1 2026May 14, 202610$4.77BXPOTLNQXOvs. Q4 2025SEC
Q4 2025May 1, 2026Amended11$4.73BXPOTLNPFSIvs. Q3 2025SECSEC
Q3 2025Nov 13, 20259$4.95BXPOTLNQXOvs. Q2 2025SEC
Q2 2025Aug 8, 20259$4.67BXPOQXOTLNvs. Q1 2025SEC
Q1 2025May 13, 202510$4.25BXPOQXOTLNvs. Q4 2024SEC
Q4 2024Feb 12, 202511$5.08BXPOQXORXOvs. Q3 2024SEC
Q3 2024Nov 13, 202412$5.07BXPOQXORXOvs. Q2 2024SEC
Q2 2024Aug 12, 202410$2.95BXPORXOPFSIvs. Q1 2024SEC
Q1 2024May 10, 202410$3.52BXPOLADPFSIvs. Q4 2023SEC
Q4 2023Feb 13, 202412$3.11BXPOLADPFSIvs. Q3 2023SEC
Q3 2023Nov 13, 202313$2.98BXPOLADPFSIvs. Q2 2023SEC
Q2 2023Aug 11, 202314$3.08BXPOLADPFSIvs. Q1 2023SEC
Q1 2023May 12, 202315$2.21BXPOLADPFSIvs. Q4 2022SEC
Q4 2022Apr 27, 2023Amended16$2.27BXPOLADPFSIvs. Q3 2022SEC
Q3 2022Nov 10, 202217$2.21BXPOLADOccidental Pete Corp WT Exp 080327vs. Q2 2022SEC
Q2 2022Aug 12, 202216$2.21BXPOGOOGLLADvs. Q1 2022SEC
Q1 2022May 13, 202220$2.89BXPOGOOGLHCAvs. Q4 2021SEC
Q4 2021Feb 11, 202215$2.54BXPOOXYMETAvs. Q3 2021SEC
Q3 2021Nov 12, 202114$2.18BMETAXPOLNGvs. Q2 2021SEC
Q2 2021Aug 13, 202114$1.86BLNGMETAPFSIvs. Q1 2021SEC
Q1 2021May 17, 202114$1.32BLNGMETALBTYK–SEC

13D and 13G filings

Companies where MFN Partners Management, LP reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

MFN Partners Management, LP does not currently report owning 5% or more of any company.

Latest filings

12 filings on file made by MFN Partners Management, LP or listing it as a reporting person, newest first.

Schedule 13D and 13G filings by MFN Partners Management, LP
CompanyFiled (ET)FilerFormStakeChangeEvent dateFiling
XPOXPO, Inc.Aug 12, 202610:08 AM ETMFN Partners, LPand 5 others13G/A8.40%9.87M shares–Jun 30, 2026SEC
CNXCNX Resources CorpMay 13, 20261:07 PM ETMFN Partners, LPand 5 others13G/A0.00%0 shares−5.70 ppfrom 5.70%Below 5%Mar 31, 2026SEC
QXOQXO, Inc.Feb 13, 20269:39 AM ETMFN Partners, LPand 5 others13G/A4.50%30.3M shares−1.80 ppfrom 6.30%Below 5%Dec 31, 2025SEC
QXOQXO, Inc.Sep 10, 20256:26 PM ETMFN Partners, LPand 5 others13G/A6.30%42.3M shares−5.20 ppfrom 11.50%Sep 8, 2025SEC
CNXCNX Resources CorpMay 12, 202512:23 PM ETMFN Partners, LPand 5 others13G/A5.70%8.35M shares–Mar 31, 2025SEC
KRSAKorsana Biosciences, Inc.Feb 12, 20253:36 PM ETMFN Partners Management, LPand 5 others13G/A0.00%0 shares–Below 5%Dec 31, 2024SEC
QXOQXO, Inc.Feb 12, 20252:51 PM ETMFN Partners, LPand 5 others13G/A11.50%46.9M shares–Dec 31, 2024SEC
RXORXO, Inc.Feb 12, 20252:43 PM ETMFN Partners, LPand 5 others13G/A19.20%32.2M shares–Dec 31, 2024SEC
ALITAlight, Inc. / DelawareMar 15, 2021MFN Partners Management, LP13G/AOld format–––SEC
KRSAKorsana Biosciences, Inc.Feb 12, 2021MFN Partners Management, LP13GOld format–New–SEC
Foley Trasimene Acquisition IIFeb 12, 2021MFN Partners Management, LP13GOld format–New–SEC
ALITAlight, Inc. / DelawareFeb 12, 2021MFN Partners Management, LP13GOld format–New–SEC