Q3 2025 · 13F-HR
Pale Fire Capital SEholdings as filed
Filed 2025-11-13 · accession 0000921895-25-003010
$913.5M
Reported value
54
Positions
2025-09-30
Period end
The Brief · Pale Fire Capital SE · Q3 2025
AI · grounded in 13F
Pale Fire Capital SE established a new position in B2GOLD CORP BTG valued at $247.6M. The fund also initiated a new stake in GROUPON INC GRPN for $237.7M and DOLE PLC DOLE for $115.4M. These moves contributed to a total AUM of $913.5M across 54 positions.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 11777Q209 | BTG | B2GOLD CORP | $247.6M | 27.1% | 50,015,909 | Common | SHARED |
| 399473206 | GRPN | GROUPON INC | $237.7M | 26.0% | 10,181,070 | Common | SHARED |
| G27907107 | DOLE | DOLE PLC | $115.4M | 12.6% | 8,588,077 | Common | SHARED |
| 450913108 | IAG | IAMGOLD CORP | $50.8M | 5.56% | 3,930,998 | Common | SHARED |
| 644535106 | NGDN | NEW GOLD INC CDA | $44.6M | 4.88% | 6,211,037 | Common | SHARED |
| 881624209 | TEVA | TEVA PHARMACEUTICAL INDS LTD | $34.1M | 3.74% | 1,689,811 | Common | SHARED |
| 152006102 | CGAU | CENTERRA GOLD INC | $25.1M | 2.74% | 2,335,878 | Common | SHARED |
| 00183L201 | ANGI | ANGI INC | $22.3M | 2.44% | 1,368,478 | Common | SHARED |
| 44955L106 | IAUX | I-80 GOLD CORP | $21.5M | 2.36% | 22,518,159 | Common | SHARED |
| 603170101 | MLYS | MINERALYS THERAPEUTICS INC | $20.2M | 2.21% | 532,407 | Common | SHARED |
| 48123V102 | ZD | ZIFF DAVIS INC | $15.3M | 1.68% | 401,825 | Common | SHARED |
| 36352H100 | GAU | GALIANO GOLD INC | $14.6M | 1.60% | 6,655,735 | Common | SHARED |
| G9108L173 | TEN | TSAKOS ENERGY NAVIGATION LTD | $7.6M | 0.83% | 340,619 | Common | SHARED |
| N0731H103 | ATAI | ATAI LIFE SCIENCES NV | $5.7M | 0.63% | 1,080,768 | Common | SHARED |
| 53635D202 | LQDA | LIQUIDIA CORPORATION | $5.5M | 0.60% | 240,721 | Common | SHARED |
| 50127T109 | KURA | KURA ONCOLOGY INC | $5.4M | 0.59% | 607,790 | Common | SHARED |
| 67080N101 | NUVB | NUVATION BIO INC | $5.3M | 0.59% | 1,444,647 | Common | SHARED |
| 878972108 | TECX | TECTONIC THERAPEUTIC INC | $4.1M | 0.45% | 259,726 | Common | SHARED |
| Y41053102 | INSW | INTERNATIONAL SEAWAYS INC | $3.5M | 0.38% | 76,059 | Common | SHARED |
| 825690100 | SSTK | SHUTTERSTOCK INC | $3.2M | 0.35% | 154,278 | Common | SHARED |
| 374163103 | GERN | GERON CORP | $3.1M | 0.34% | 2,281,754 | Common | SHARED |
| 75901B107 | RGNX | REGENXBIO INC | $2.5M | 0.27% | 255,601 | Common | SHARED |
| 23954D109 | DAWNGBX | DAY ONE BIOPHARMACEUTICALS I | $2.1M | 0.23% | 302,467 | Common | SHARED |
| 142038108 | CRBU | CARIBOU BIOSCIENCES INC | $1.8M | 0.20% | 775,055 | Common | SHARED |
| 00773U207 | AVU0 | ADVERUM BIOTECHNOLOGIES INC | $1.6M | 0.18% | 363,282 | Common | SHARED |
| 48115J109 | DERM | JOURNEY MED CORP | $1.6M | 0.18% | 228,567 | Common | SHARED |
| 08975P108 | CMRC | COMMERCE.COM INC | $1.5M | 0.16% | 298,631 | Common | SHARED |
| 23256X407 | HELP | CYBIN INC | $904,144 | 0.10% | 153,505 | Common | SHARED |
| L00849106 | AGRO | ADECOAGRO S A | $663,554 | 0.07% | 84,637 | Common | SHARED |
| 78463X952 | — | SPDR INDEX SHS FDS | $621,200 | 0.07% | 10,000 | PUT | SHARED |
| 98420X202 | XFOR | X4 PHARMACEUTICALS INC | $618,510 | 0.07% | 180,851 | Common | SHARED |
| 427746102 | HRTX | HERON THERAPEUTICS INC | $593,699 | 0.06% | 471,190 | Common | SHARED |
| 67066G954 | NVDA | NVIDIA CORPORATION | $559,740 | 0.06% | 3,000 | PUT | SHARED |
| 219798105 | QDEL | QUIDELORTHO CORP | $536,255 | 0.06% | 18,209 | Common | SHARED |
| 03843E104 | AQST | AQUESTIVE THERAPEUTICS INC | $520,608 | 0.06% | 93,132 | Common | SHARED |
| 514766104 | LFCR | LIFECORE BIOMEDICAL INC | $475,603 | 0.05% | 64,620 | Common | SHARED |
| 714157203 | PESI | PERMA-FIX ENVIRONMENTAL SVCS | $457,227 | 0.05% | 45,270 | Common | SHARED |
| 87650L103 | TARS | TARSUS PHARMACEUTICALS INC | $420,467 | 0.05% | 7,075 | Common | SHARED |
| 282559103 | ETNBGBP | 89BIO INC | $395,474 | 0.04% | 26,903 | Common | SHARED |
| 76200L309 | RZLT | REZOLUTE INC | $394,067 | 0.04% | 41,922 | Common | SHARED |
| 415858109 | HROW | HARROW INC | $389,921 | 0.04% | 8,093 | Common | SHARED |
| 04280A100 | ARWR | ARROWHEAD PHARMACEUTICALS IN | $349,142 | 0.04% | 10,123 | Common | SHARED |
| N44445109 | IMTX | IMMATICS N.V | $291,980 | 0.03% | 34,270 | Common | SHARED |
| 52886X107 | LXEO | LEXEO THERAPEUTICS INC | $223,436 | 0.02% | 33,650 | Common | SHARED |
| 001228501 | MITT | AG MTG INVT TR INC | $222,471 | 0.02% | 30,728 | Common | SHARED |
| 58039P305 | MUX | MCEWEN INC. | $217,085 | 0.02% | 12,695 | Common | SHARED |
| G1110E107 | BHVN | BIOHAVEN LTD | $155,263 | 0.02% | 10,344 | Common | SHARED |
| 517125100 | LRMR | LARIMAR THERAPEUTICS INC | $146,054 | 0.02% | 45,218 | Common | SHARED |
| 00972D105 | AKBA | AKEBIA THERAPEUTICS INC | $137,073 | 0.02% | 50,210 | Common | SHARED |
| 92859G608 | VZLA | VIZSLA SILVER CORP | $132,745 | 0.01% | 30,728 | Common | SHARED |
| 29286M105 | — | ENGENE HOLDINGS INC | $117,845 | 0.01% | 17,254 | Common | SHARED |
| 230031106 | CGEM | CULLINAN THERAPEUTICS INC | $86,667 | 0.01% | 14,615 | Common | SHARED |
| 68828E809 | ODV | OSISKO DEVELOPMENT CORP | $71,641 | 0.01% | 21,133 | Common | SHARED |
| 64782A107 | NEWP | NEW PAC METALS CORP | $70,400 | 0.01% | 25,978 | Common | SHARED |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.