MFN Partners, LP

MFN Partners LP (10% owner) buys 532,276 shares of RXO at $12.00; all 5 prior RXO buys achieved 90d gains

MFN Partners LP, a substantial 10% stakeholder, purchased 532,276 shares at $12.00 on 2026-02-12, expanding its position by 1.9% to 28.11M shares. This buy occurred when RXO trades 30.9% below its 52-week high of $22.09, after a 90-day rally of +35.3%. Notably, all 5 of this insider's prior open-market purchases at RXO—spanning four dates in May 2024 and one in August 2024—achieved positive 90-day returns ranging from +42.8% to +58.0%, a 100% hit rate at this ticker. However, RXO remains unprofitable with negative $14.0M annual net income, and the stock's current $14.83 price is already 1.1% lower in the past 30 days despite the 90-day uptrend, warranting attention to whether the recent rally is sustainable given the company's earnings profile.

MFN Partners LP (10% owner) sold 1,075,000 shares of CNX at $31.09; stock down 24.0% from 52-week high.

MFN Partners, a major 10% holder, sold 1,075,000 shares (7.2% of prior holdings) on January 6, 2025 at $31.09, reducing the stake from 15,000,000 to 13,925,000 shares and realizing $33,421,750.00. The stock has fallen 24.0% from its 52-week high of $41.09 and is down 14.9% over the past 30 days, placing the transaction price modestly above recent market levels. Across the insider's cross-ticker track record, prior sells have achieved a 25.00% well-timed rate with an average 90-day return of +2.2%, suggesting the insider's historical sell timing has been predominantly poor; this particular sale follows that pattern with the stock currently trading at $31.24, marginally above the transaction price. CNX trades at a P/E of 8.20 with strong recent fundamentals (revenue growth of 172.4% year-over-year and net income of $65,540,000.00 in the latest quarter), leaving the economic rationale for the sale ambiguous given the depressed valuation and solid operational performance.

MFN Partners, LP sold 7,000,000 shares at $15.05 on 2024-11-06 for $105,350,000, reducing stake to 46,908,701 shares

MFN Partners, LP, a 10% owner of QXO, Inc., executed a large open-market sale of 7,000,000 shares (7.00M shares) for $105,350,000 (105.4M), reducing its position by 13.0% from 53.91M to 46.91M shares. The sale occurred at $15.05 per share when the stock was trading at $16.05 currently, positioned -93.2% from its 52-week high of $235.61 and 43.8% above its 90-day low. Against the insider's cross-ticker track record showing a 93.33% win rate on buys but only 33.33% well-timed rate on prior sells (with positive average 90d returns of +0.7% after sales), this transaction represents a large portfolio reduction by a major shareholder. At the company level, QXO reported negative net income of $-591,000 (591.0K) in the latest quarter despite 21.2% annual revenue growth, creating a backdrop of unprofitability that may be relevant context for the significant share disposition.

Major shareholder MFN Partners sold 795.9K QXO shares at $15.05; stock now -94.0% from 52-week high of $235.61.

MFN Partners, a 10% owner, sold 795,894 shares for $11,978,204.70 on 2024-08-26 at $15.05 per share—well below the 52-week high of $235.61. The stock has since fallen further to $14.07 (-76.7% over 30 days), and is trading at a catastrophic -94.0% discount to its recent peak. The company is unprofitable with net income of $-591,000.00 in the latest quarter, despite modest annual revenue growth of 21.2%. The insider's cross-ticker history shows mixed sell timing: prior sells averaged -9.8% return over 30 days but only 0.7% over 90 days, with just a 33.33% well-timed rate, suggesting these sales have typically not preceded further declines. This sale by a major stakeholder during a period of severe stock deterioration warrants investigation into whether it reflects knowledge of operational challenges or is simply reducing concentration risk in a severely depressed position.

MFN Partners, LP acquires 10,266,810 shares ($207.5M) at $20.21; holdings jump to 27.58M (+59.3%)

MFN Partners, LP purchased 10,266,810 shares for $207,492,230.10 on 2024-08-12, increasing its stake to 27,577,666 shares post-transaction—a 59.3% increase from the 17,310,856 shares held previously. The acquisition at $20.21 per share now sits beneath the current price of $27.51 and well below the 52-week high of $31.90. Across the insider's cross-ticker trading history, 17 prior buys averaged a 90-day return of +38.1% with an 88.24% win rate; at RXO specifically, all 5 prior purchases showed positive 90-day returns, averaging between +42.8% and +58.0%. However, RXO's fundamentals present a counterweight: the company posted a negative net income of $-7,000,000.00 in the latest quarter, annual revenue contracted 18.1% year-over-year, and the P/E multiple of 917.00 is extreme. The scale of this purchase—more than doubling the prior holding—combined with the insider's historically successful buy pattern at this ticker against a backdrop of deteriorating financial performance merits investor scrutiny of the underlying rationale.