MFN Partners Management, LP

CIK 0001732811 · Q2 2026

13F Equity AUM

$4.8B

+1.2% QoQ

Positions

-1 QoQ

AUM Rank

#1,535

Top 12%

Skill Alpha (FF)

-1.2%/yr^ns

No Clear Edge

Rank #4,557 · Top 55%

vs S&P +0.7%/yr (unadj.)

Quarters Tracked

~7 years

Portfolio Concentration

Top 5: 98.3%Top 10: 100.0%Top 20: 100.0%

XPO41.9%

TLN23.9%

RXO16.0%

QXO8.4%

PFSI8.2%

BHC0.6%

KRSP-WT0.5%

IE0.5%

KRSP-WT0.0%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Industrials66.3%

Utilities23.9%

Financial Services8.2%

Other1.7%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 9Median: 8.17%Avg: 11.11%

0–0.5%

1(0.0%)

0.5–1%

3(1.6%)

1–3%

0(0.0%)

3–5%

0(0.0%)

5%+

5(98.3%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 9vs 20 funds

0%Low

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New0Increased0Decreased1Exited1

Decreased

XPO41.9%

-1,555,678(-14%)

Exited

OXY/WS

-5,690,600

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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