SCHEDULE 13G/A: MFN Partners Maintains 5.7% Stake in CNX Resources Corporation
Beneficial Ownership Update
MFN Partners and its affiliates have filed an Amendment No. 2 to their Schedule 13G, confirming a continued beneficial ownership of 5.7% in CNX Resources Corporation as of March 31, 2025.
Summary
- MFN Partners, LP, along with its general partner MFN Partners GP, LLC, investment adviser MFN Partners Management, LP, and its general partner MFN Partners Management, LLC, collectively with managing members Michael F. DeMichele and Farhad Nanji, reported beneficial ownership of 8,350,000 shares of CNX Resources Corporation common stock.
- This ownership represents 5.7% of the total outstanding common stock of CNX Resources Corporation.
- The percentage ownership is calculated based on 147,217,376 shares of Common Stock outstanding as of March 3, 2025, as reported in the Issuer's Proxy Statement on Form DEF14A.
- All reporting persons share both voting and dispositive power over the 8,350,000 shares.
- The filing is an Amendment No. 2 to a previously filed Schedule 13G, indicating an update to an existing passive investment position.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing (Schedule 13G Amendment) disclosing beneficial ownership. It contains factual information about shareholdings and does not convey positive or negative sentiment regarding the company's performance or outlook. It is a neutral disclosure.
Industry Context
CNX Resources Corporation operates in the energy sector, primarily focused on natural gas production. The filing indicates a significant, albeit passive, investment by MFN Partners, a financial entity, in a company within this industry.
Stakeholder Impact
- Shareholders: Provides transparency regarding a significant institutional investor's continued stake in the company, confirming a stable passive investment position.
Key Dates
| Date | Description |
|---|---|
| 2024-08-12 | Initial Schedule 13G filed by Reporting Persons with respect to CNX Resources Corporation Common Stock. |
| 2024-10-25 | Amendment No. 1 to Schedule 13G filed by Reporting Persons. |
| 2025-03-03 | Date as of which 147,217,376 shares of Common Stock were outstanding, used for percentage calculation. |
| 2025-03-20 | Date CNX Resources Corporation's Proxy Statement on Form DEF14A was filed, reporting outstanding shares. |
| 2025-03-31 | Date of event which requires the filing of this Schedule 13G Amendment No. 2. |
| 2025-05-12 | Date of filing for this Amendment No. 2 to Schedule 13G. |
Keywords
CNX Resources Corporation, MFN Partners, Schedule 13G, Beneficial Ownership, Common Stock, Energy Sector, Natural Gas, Institutional Investor
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