Fidelity National hands investors $500M in F&G stock, still keeps 70%

Fidelity National Financial (FNF) reported Q4 and full-year 2025 results, revealing a special stock distribution of approximately 12% of F&G (worth around $500 million) to its shareholders while retaining about 70% ownership. The company posted a Q4 net loss of $(117) million due to a $471 million noncash deferred tax charge related to this distribution. Despite the net loss, both the Title and F&G segments demonstrated strong operational performance with increased revenue, record assets under management, and significant capital returns to shareholders for the full year 2025.