Hedge Fund Adds to RXO Position, According to Recent SEC Filing
Key Points
MFN Partners Management, LP increased its RXO stake by 532,276 shares; estimated trade size was $7.81 million based on quarterly average pricing
Quarter-end position value rose by $62.39 million, reflecting the combined effect of additional shares and price movement
Trade represented a 0.16% change in 13F reportable assets under management
Post-trade, the fund holds 28,109,942 RXO shares valued at $410.97 million
RXO represents 8.6070% of MFN Partners Management, LP’s 13F assets, which places it outside the fund's top five holdings
- 10 stocks we like better than RXO ›
RXO (NYSE:RXO) saw MFN Partners Management, LP disclose a buy of 532,276 shares, with an estimated transaction value of $7.81 million based on quarterly average pricing, in its May 14, 2026, SEC filing.
What happened
According to a May 14, 2026, SEC filing, MFN Partners Management, LP bought 532,276 additional shares of RXO. The estimated value of this trade was $7.81 million, calculated using the mean unadjusted closing price of RXO for the first quarter of 2026. The fund’s quarter-end position in RXO increased in value by $62.39 million, reflecting the impact of both new purchases and share price changes.
What else to know
Following the buy, RXO accounts for 8.61% of MFN Partners Management, LP’s reportable 13F assets.
Top holdings after the filing:
- NYSE: XPO: $2,222,805,539 (46.6% of AUM)
- NASDAQ: TLN: $957,690,000 (20.1% of AUM)
- NYSE: QXO: $455,483,477 (9.5% of AUM)
- NYSE: RXO: $410,967,352 (8.6% of AUM)
- NYSE: PFSI: $396,078,621 (8.3% of AUM)
As of May 13, 2026, RXO shares were priced at $19.81, up 19.19% over the past year, underperforming the S&P 500 by 7.27 percentage points.
Company Overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $5.73 billion |
| Net Income (TTM) | ($105.00 million) |
| Price (as of market close May 13, 2026) | $19.81 |
| One-Year Price Change | 19.19% |
Company Snapshot
- Provides truckload freight brokerage, managed transportation, last-mile, and freight forwarding services through a proprietary digital freight marketplace.
- Operates an asset-light business model, generating revenue by connecting shippers with available trucking capacity and earning fees for brokering transportation services.
- Serves a broad range of commercial customers across the United States, focusing on shippers seeking efficient, technology-driven freight solutions.
RXO is a leading provider of truckload freight brokerage services in the United States, leveraging a proprietary digital platform to match shippers with transportation capacity. The company operates at scale, with over $5.7 billion in annual revenue, and emphasizes technology- and data-driven solutions to enhance efficiency and service quality. RXO's asset-light strategy and diversified service offerings position it competitively within the transportation and logistics sector.
What this transaction means for investors
MFN Partners Management, a Boston-based hedge fund, recently disclosed the purchase of approximately 532,000 shares of RXO, valued at approximately $7.8 million, during the first quarter (the three months ended March 31, 2026). Here are some key takeaways for investors.
To begin, RXO, a transportation stock, has performed well this year. Shares have advanced by 93% year-to-date, greatly outperforming the S&P 500, which has gained nearly 10% so far this year.
The driving force behind this surge in RXO stock has been rising truckload spot rates. After years of overcapacity, the market has swung back to a shortage of available trucks and drivers, resulting in skyrocketing rates.
Nonetheless, this hasn’t shifted RXO’s key fundamentals quite yet. RXO’s 12-month trailing revenue stands at 5.73 billion, which is more or less in line with where it was one year ago. Similarly, the company remains marginally unprofitable, with a 12-month net loss of about $105 million. Granted, the loss has narrowed considerably over the last year.
In summary, RXO stock has soared due to rising truckload spot rates. However, the company’s fundamentals have yet to keep pace with market dynamics. Investors bullish on the sector should keep an eye on the stock to ensure that higher spot rates translate into higher revenue and consistent profits for RXO.
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Jake Lerch has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends QXO. The Motley Fool recommends Bausch Health Companies, RXO, and XPO. The Motley Fool has a disclosure policy.
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