SEC 13F Intelligence

Managers / Q4 2019 · view latest →

MFN Partners Management, LP

CIK 0001732811 · 222 BERKELEY STREET, 13TH FLOOR, BOSTON, MA, 02116 · 617-443-2040

Reported Value
$485M
Q4 2019
Positions
11
Filings on Record
32
2019–present window
Filed
Feb 13, 2020
original filing

Summary

Mfn Partners Management, LP reported $485M in U.S.-listed holdings across 11 positions for Q4 2019.

Its largest position, FOXA, represents 18.1% of the portfolio.

Compared with Q3 2019, the fund opened 0 new positions and exited 3.

Portfolio Metrics

Turnover
+16.0%
vs prior filed quarter
Top-10 Concentration
+99.7%
share of reported value
Largest Position
+18.1%
Fox

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $589MQ4 ’18Q1 ’19: $620MQ2 ’19: $630MQ3 ’19: $669MQ4 ’19: $485MQ4 ’19Q1 ’20: $756MQ2 ’20: $717MQ3 ’20: $1.2BQ4 ’20: $1.1BQ4 ’20Q1 ’21: $1.3BQ2 ’21: $1.9BQ3 ’21: $2.2BQ4 ’21: $2.5BQ4 ’21Q1 ’22: $2.9BQ2 ’22: $2.2BQ3 ’22: $2.2BQ4 ’22: $2.2BQ4 ’22Q1 ’23: $2.2BQ2 ’23: $3.1BQ3 ’23: $3.0BQ4 ’23: $3.1BQ4 ’23Q1 ’24: $3.5BQ2 ’24: $2.9BQ3 ’24: $5.1BQ4 ’24: $5.1BQ4 ’24Q1 ’25: $4.3BQ2 ’25: $4.7BQ3 ’25: $5.0BQ4 ’25: $4.7BQ4 ’25Q1 ’26: $4.8Bfilingsflow.com

Portfolio Composition

By security type
Common Stock: 82.0%Other: 18.0%
  • Common Stock · 82.0% · $398M
  • Other · 18.0% · $87M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2019 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ACRSACLARIS THERAPEUTICS INCADDED+2.50M4.00M+$6M$8M
ALLERGAN PLCSOLD OUT−1.40M0−$236M$0
FGL HLDGSSOLD OUT−2.90M0−$23M$0
RVNCEURREVANCE THERAPEUTICS INCSOLD OUT−46.0K0−$598,000$0
LIBERTY GLOBAL PLCADDED+1.00M4.00M+$16M$87M
PCGPG&E CORPADDED+754.3K3.55M+$11M$39M
GTT1USDGTT COMMUNICATIONS INCADDED+168.5K1.15M+$4M$13M
IRWDIRONWOOD PHARMACEUTICALS INCHELD+06.44M+$30M$86M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2019

11 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1FOXAFOX CORPhistory →CL A COM18.10%$88M2.37M
2LIBERTY GLOBAL PLCSHS CL C17.97%$87M4.00M
3IRWDIRONWOOD PHARMACEUTICALS INChistory →COM CL A17.66%$86M6.44M
4LNGCHENIERE ENERGY INChistory →COM NEW13.21%$64M1.05M
5XPOXPO LOGISTICS INChistory →COM11.50%$56M700.0K
6PXDEURPIONEER NAT RES COhistory →COM8.22%$40M263.5K
7PCGPG&E CORPhistory →COM7.96%$39M3.55M
8GTT1USDGTT COMMUNICATIONS INChistory →COM2.69%$13M1.15M
9ACRSACLARIS THERAPEUTICS INChistory →COM1.56%$8M4.00M
10CYCNUSDCYCLERION THERAPEUTICS INCCOM0.83%$4M1.49M
11EOLSEVOLUS INCCOM0.30%$1M120.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$4.8B10May 14, 202613F-HRchanges · EDGAR ↗
Q4 2025$4.7B9Feb 12, 202613F-HRchanges · EDGAR ↗
Q3 2025$5.0B9Nov 13, 202513F-HRchanges · EDGAR ↗
Q2 2025$4.7B9Aug 8, 202513F-HRchanges · EDGAR ↗
Q1 2025$4.3B10May 13, 202513F-HRchanges · EDGAR ↗
Q4 2024$5.1B11Feb 12, 202513F-HRchanges · EDGAR ↗
Q3 2024$5.1B12Nov 13, 202413F-HRchanges · EDGAR ↗
Q2 2024$2.9B10Aug 12, 202413F-HRchanges · EDGAR ↗
Q1 2024$3.5B10May 10, 202413F-HRchanges · EDGAR ↗
Q4 2023$3.1B12Feb 13, 202413F-HRchanges · EDGAR ↗
Q3 2023$3.0B13Nov 13, 202313F-HRchanges · EDGAR ↗
Q2 2023$3.1B14Aug 11, 202313F-HRchanges · EDGAR ↗
Q1 2023$2.2B15May 12, 202313F-HRchanges · EDGAR ↗
Q4 2022$2.2B15Feb 10, 202313F-HRchanges · EDGAR ↗
Q3 2022$2.2B17Nov 10, 202213F-HRchanges · EDGAR ↗
Q2 2022$2.2B16Aug 12, 202213F-HRchanges · EDGAR ↗
Q1 2022$2.9B20May 13, 202213F-HRchanges · EDGAR ↗
Q4 2021$2.5B15Feb 11, 202213F-HRchanges · EDGAR ↗
Q3 2021$2.2B14Nov 12, 202113F-HRchanges · EDGAR ↗
Q2 2021$1.9B14Aug 13, 202113F-HRchanges · EDGAR ↗
Q1 2021$1.3B15May 17, 202113F-HRchanges · EDGAR ↗
Q4 2020$1.1B14Feb 12, 202113F-HRchanges · EDGAR ↗
Q3 2020$1.2B16Nov 13, 202013F-HRchanges · EDGAR ↗
Q2 2020$717M11Aug 13, 202013F-HRchanges · EDGAR ↗
Q1 2020$756M17May 14, 202013F-HRchanges · EDGAR ↗
Q4 2019$485M11Feb 13, 202013F-HRchanges · EDGAR ↗
Q3 2019$669M14Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$630M17Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$620M15May 14, 201913F-HRchanges · EDGAR ↗
Q4 2018$589M16Feb 14, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.