MFN Partners Management, LP

BOSTON, MA · CIK 1732811 · 13F filing filed 2023-08-11

SEC-registered investment adviser since 2018 · limited partnership

$3.1bn reported value +39.2% vs Q1 2023

14positions

97.2%in top 10

2 new 1 added 0 reduced 3 sold out vs Q1 2023

Holdings, Q2 2023

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	XPO INC COM XPO	XPO	12,675,369	$747.8m24.28%	24.28%	Unchanged
2	LITHIA MTRS INC COM LAD	LAD	1,551,077	$471.7m15.32%	15.32%	Unchanged
3	PENNYMAC FINL SVCS INC NEW COM PFSI	PFSI	4,531,792	$318.6m10.35%	10.35%	Unchanged
4	RXO INC COMMON STOCK RXO	RXO	12,675,369	$287.4m9.33%	9.33%	Unchanged
5	FIRST CTZNS BANCSHARES INC N CL A FCNCA	FCNCA	200,000	$256.7m8.33%	8.33%	New
6	ALPHABET INC CAP STK CL A GOOGL	GOOGL	2,019,183	$241.7m7.85%	7.85%	Unchanged
7	HCA HEALTHCARE INC COM HCA	HCA	769,198	$233.4m7.58%	7.58%	Unchanged
8	OCCIDENTAL PETE CORP *W EXP 08/03/202 OXY.WS	OXY.WS	5,690,600	$212.4m6.90%	6.90%	Unchanged
9	LIBERTY GLOBAL PLC SHS CL C LBTYK	LBTYK	6,706,460	$119.2m3.87%	3.87%	Unchanged
10	COINBASE GLOBAL INC NOTE 0.500% 6/0 · principal COIN 0.5 06.01.26 · principal	COIN 0.5 06.01.26	136,953,000	$103.6m3.36%	3.36%	Added +94.0m	+93,953,000 218.5%
11	BAUSCH HEALTH COS INC COM BHC	BHC	6,000,000	$48.0m1.56%	1.56%	Unchanged
12	IVANHOE ELECTRIC INC COM IE	IE	2,553,191	$33.3m1.08%	1.08%	Unchanged
13	WARBY PARKER INC CL A COM WRBY	WRBY	462,679	$5.4m0.18%	0.18%	Unchanged
14	CYCLERION THERAPEUTICS INC COM COM		169,460	$696.5k0.02%	0.02%	New

Security	Ticker	Shares held before	Value then
PAR TECHNOLOGY CORP PAR	PAR	600,000	$20.4m600.0k shares
CONSTELLATION ENERGY CORP CEG	CEG	225,000	$17.7m225.0k shares
CYCLERION THERAPEUTICS INC		3,389,215	$1.5m3.4m shares