MFN PARTNERS MANAGEMENT LP
Q1 2026 Form 13-F
BOSTON, MASSACHUSETTS
CIK 0001732811
· CRD 291755
· SEC-registered investment adviser
$4.8B Reported Value Total
MFN PARTNERS MANAGEMENT, LP reports 1 total accounts under management (AUM). There are 1 discretionary accounts valued at $12,421,438,732, and 0 non-discretionary accounts.
Source: Form ADV filed * Note that certain holdings are exempt from Form 13-F reporting, so the AUM totals may be greater than the Form 13-F total.
SEC Registered
Discretionary Manager
Private funds (Form ADV)
1 fund
· $12.4B gross asset value
Hedge Fund: $12.4B
Source: Form ADV filed 2026-03-25
Reported value
$4.8B
Quarter over quarter
+10.7%
Holdings
10
Top-10 concentration
100.0%
Key People
Form ADV owners & control persons
Michael Frank Demichele
MEMBER
Farhad Nanji
MEMBER
Megan Hart
CHIEF OPERATING OFFICER
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Q1 2026 13F record
Q1 2026 13F filing summary
| Period of report | March 31, 2026 |
|---|---|
| Filed | May 14, 2026 |
| Form | 13F-HR |
| Reported value | $4.8B |
| Positions | 10 |
| Change in reported value | +0.9% |
| New positions | 0 |
| Exited positions | 1 |
| Position turnover | 9.1% |
| Top-10 concentration | 100.0% |
13F filings by quarter
| Quarter | Positions | Value |
|---|---|---|
|
Q2 2026 13F
Filed Aug 12, 2026
|
9 | $4.8B |
|
Q1 2026 13F
Filed May 14, 2026
|
10 | $4.8B |
|
Q4 2025 13F
Filed Feb 12, 2026
|
11 | $4.7B |
|
Q3 2025 13F
Filed Nov 13, 2025
|
9 | $5.0B |
|
Q2 2025 13F
Filed Aug 8, 2025
|
9 | $4.7B |
|
Q1 2025 13F
Filed May 13, 2025
|
10 | $4.3B |
|
Q4 2024 13F
Filed Feb 12, 2025
|
11 | $5.1B |
|
Q3 2024 13F
Filed Nov 13, 2024
|
12 | $5.1B |
|
Q2 2024 13F
Filed Aug 12, 2024
|
10 | $2.9B |
|
Q1 2024 13F
Filed May 10, 2024
|
10 | $3.5B |
|
Q4 2023 13F
Filed Feb 13, 2024
|
12 | $3.1B |
|
Q3 2023 13F
Filed Nov 13, 2023
|
12 | $3.0B |
|
Q2 2023 13F
Filed Aug 11, 2023
|
13 | $3.1B |
|
Q1 2023 13F
Filed May 12, 2023
|
14 | $2.2B |
|
Q4 2022 13F
Filed Feb 10, 2023
|
15 | $2.3B |
|
Q3 2022 13F
Filed Nov 10, 2022
|
17 | $2.2B |
|
Q2 2022 13F
Filed Aug 12, 2022
|
16 | $2.2B |
|
Q1 2022 13F
Filed May 13, 2022
|
20 | $2.9B |
|
Q4 2021 13F
Filed Feb 11, 2022
|
15 | $2.5B |
|
Q3 2021 13F
Filed Nov 12, 2021
|
14 | $2.2B |
11 earlier quarters on file — choose one from the quarter menu above.
Top 10 holdings · Q1 2026
| # | Holding | Reported value | % of portfolio |
|---|---|---|---|
| 1 | XPO XPO INC | $2.2B | 46.55% |
| 2 | TLN TALEN ENERGY CORP | $957.7M | 20.06% |
| 3 | QXO QXO INC | $455.5M | 9.54% |
| 4 | RXO RXO INC | $411.0M | 8.61% |
| 5 | PFSI PENNYMAC FINL SVCS INC NEW | $396.1M | 8.3% |
| 6 | OXYWS OCCIDENTAL PETE CORP | $244.1M | 5.11% |
| 7 | BHC BAUSCH HEALTH COS INC | $32.4M | 0.68% |
| 8 | IE IVANHOE ELECTRIC INC | $30.2M | 0.63% |
| 9 | KRSP RICE ACQUISITION CORP 3 | $24.7M | 0.52% |
| 10 | KRSPWS RICE ACQUISITION CORP 3 | $320.0K | < 0.01% |
Values as reported on the Q1 2026 Form 13F. Every position is in the holdings table below.