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MFN Partners Management, LP

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13F filer, CIK 1732811, BOSTON, MA

MFN Partners Management, LP reported $4,254,207,523 across 10 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-05-13.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0000904454-25-000244

Period
2025-03-31
Reported value
$4.25B
Holdings
10
Top 10 weight
100%
New
0
Sold out
1

Part of the filer group MFN Partners Management, LP

  • Farhad Nanji
  • MFN Partners GP, LLC
  • Michael F. DeMichele
  • MFN Partners, LP
How groups are built

Largest buys vs the previous quarter

None.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
CNXreduced-6,650,000-$209M
FORWARD AIR CORPexited-1,289,358-$41.6M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2025

Share positions as resolved from 13F-HR 0000904454-25-000244, largest first. % of portfolio is the value over $4,254,207,523, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
XPOXPO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,425,369 shares; 2024Q4: 11,425,369 shares; 2025Q1: 11,425,369 shares 11,425,369$1.23B28.89%0Timeline
QXOQXO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 53,908,701 shares; 2024Q4: 46,908,701 shares; 2025Q1: 46,908,701 shares 46,908,701$635M14.93%0Timeline
TLNTALEN ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,000,000 shares; 2024Q4: 3,000,000 shares; 2025Q1: 3,000,000 shares 3,000,000$599M14.08%0Timeline
RXORXO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 27,577,666 shares; 2024Q4: 27,577,666 shares; 2025Q1: 27,577,666 shares 27,577,666$527M12.38%02026-10-04, 13D: 32,687,269 shares, 19.3% of the class, 13D filed 2026-10-05 Timeline
PFSIPENNYMAC FINL SVCS INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,531,792 shares; 2024Q4: 4,531,792 shares; 2025Q1: 4,531,792 shares 4,531,792$454M10.66%0Timeline
HCAHCA HEALTHCARE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 973,898 shares; 2024Q4: 973,898 shares; 2025Q1: 973,898 shares 973,898$337M7.91%0Timeline
CNXCNX RES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 15,000,000 shares; 2024Q4: 15,000,000 shares; 2025Q1: 8,350,000 shares 8,350,000$263M6.18%-6,650,000Timeline
OXY/WSOCCIDENTAL PETE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,690,600 shares; 2024Q4: 5,690,600 shares; 2025Q1: 5,690,600 shares 5,690,600$157M3.7%0Timeline
BHCBAUSCH HEALTH COS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,000,000 shares; 2024Q4: 6,000,000 shares; 2025Q1: 6,000,000 shares 6,000,000$38.8M0.91%0Timeline
IEIVANHOE ELECTRIC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,553,191 shares; 2024Q4: 2,553,191 shares; 2025Q1: 2,553,191 shares 2,553,191$14.8M0.35%0Timeline

Sold out in Q1 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
FORWARD AIR CORPFORWARD AIR CORP1,289,358$41.6Mshares

How Q1 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0000904454-25-000244 base2025-05-13acceptance time not in the bulk data set