Q1 2026 · 13F-HR
Pale Fire Capital SEholdings as filed
Filed 2026-05-14 · accession 0000921895-26-001322
$1.14B
Reported value
60
Positions
2026-03-31
Period end
The Brief · Pale Fire Capital SE · Q1 2026
AI · grounded in 13F
Pale Fire Capital SE exited its position in COIN, reducing exposure by $287.6M. The fund also closed out positions in TSLA and HOOD, totaling $233.9M and $187.3M respectively. To offset these exits, the fund established new positions in PHR for $72.5M and COUR for $61.2M. Additionally, the fund increased its holdings in ZD by 130% and BTG by 77.4%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 11777Q209 | BTG | B2GOLD CORP | $315.9M | 27.8% | 69,740,133 | Common | SHARED |
| G27907107 | DOLE | DOLE PLC | $134.7M | 11.8% | 9,427,476 | Common | SHARED |
| 399473206 | GRPN | GROUPON INC | $121.2M | 10.6% | 10,181,070 | Common | SHARED |
| 48123V102 | ZD | ZIFF DAVIS INC | $116.8M | 10.3% | 2,783,366 | Common | SHARED |
| 71944F106 | PHR | PHREESIA INC | $72.5M | 6.37% | 8,649,329 | Common | SHARED |
| 22266M104 | COUR | COURSERA INC | $61.2M | 5.38% | 10,511,603 | Common | SHARED |
| 53229C107 | LSPD | LIGHTSPEED COMMERCE INC | $49.5M | 4.35% | 5,524,591 | Common | SHARED |
| 14575E105 | CARS | CARS COM INC | $32.1M | 2.82% | 3,956,618 | Common | SHARED |
| 44955L106 | IAUX | I-80 GOLD CORP | $31.7M | 2.78% | 20,843,056 | Common | SHARED |
| 00183L201 | ANGI | ANGI INC | $26.9M | 2.37% | 3,930,416 | Common | SHARED |
| 70614W100 | PTON | PELOTON INTERACTIVE INC | $26.7M | 2.35% | 6,234,577 | Common | SHARED |
| 071813109 | BAX | BAXTER INTL INC | $26.6M | 2.34% | 1,582,743 | Common | SHARED |
| 87918A105 | TDOC | TELADOC HEALTH INC | $18.5M | 1.63% | 3,398,491 | Common | SHARED |
| 53635D202 | LQDA | LIQUIDIA CORPORATION | $14.7M | 1.29% | 388,377 | Common | SHARED |
| 36352H100 | GAU | GALIANO GOLD INC | $10.0M | 0.88% | 4,000,000 | Common | SHARED |
| 603170101 | MLYS | MINERALYS THERAPEUTICS INC | $9.9M | 0.87% | 365,626 | Common | SHARED |
| 08975P108 | CMRC | COMMERCE.COM INC | $7.9M | 0.69% | 2,952,094 | Common | SHARED |
| 374163103 | GERN | GERON CORP | $7.3M | 0.64% | 4,888,304 | Common | SHARED |
| 50127T109 | KURA | KURA ONCOLOGY INC | $7.0M | 0.61% | 857,474 | Common | SHARED |
| 94724R108 | WEAV | WEAVE COMMUNICATIONS INC | $6.9M | 0.61% | 1,492,806 | Common | SHARED |
| 87164F105 | SNDX | SYNDAX PHARMACEUTICALS INC | $6.6M | 0.58% | 284,460 | Common | SHARED |
| 902685106 | 7WH | UDEMY INC | $6.0M | 0.53% | 1,307,141 | Common | SHARED |
| 75901B107 | RGNX | REGENXBIO INC | $4.1M | 0.36% | 493,726 | Common | SHARED |
| 35168W103 | GUTS | FRACTYL HEALTH INC | $2.7M | 0.24% | 5,921,045 | Common | SHARED |
| 48115J109 | DERM | JOURNEY MED CORP | $2.3M | 0.20% | 481,987 | Common | SHARED |
| 427746102 | HRTX | HERON THERAPEUTICS INC | $2.2M | 0.19% | 2,716,328 | Common | SHARED |
| 44891N208 | IAC | IAC INC | $2.2M | 0.19% | 54,281 | Common | SHARED |
| 85209W109 | SPT | SPROUT SOCIAL INC | $2.0M | 0.17% | 343,841 | Common | SHARED |
| 786700104 | SGMT | SAGIMET BIOSCIENCES INC | $1.2M | 0.10% | 221,875 | Common | SHARED |
| 25862V105 | DV | DOUBLEVERIFY HLDGS INC | $1.0M | 0.09% | 110,500 | Common | SHARED |
| 23256X407 | HELP | CYBIN INC | $736,824 | 0.06% | 153,505 | Common | SHARED |
| 98420X202 | XFOR | X4 PHARMACEUTICALS INC | $692,147 | 0.06% | 167,590 | Common | SHARED |
| 714157203 | PESI | PERMA-FIX ENVIRONMENTAL SVCS | $519,812 | 0.05% | 48,626 | Common | SHARED |
| 00847X104 | AGIO | AGIOS PHARMACEUTICALS INC | $461,780 | 0.04% | 13,650 | Common | SHARED |
| 78454L100 | SM | SM ENERGY COMPANY | $458,346 | 0.04% | 14,700 | Common | SHARED |
| 753422104 | RPD | RAPID7 INC | $436,662 | 0.04% | 79,249 | Common | SHARED |
| 30219Q106 | EXFY | EXPENSIFY INC | $418,466 | 0.04% | 481,051 | Common | SHARED |
| 500688106 | KOS | KOSMOS ENERGY LTD | $403,100 | 0.04% | 145,000 | Common | SHARED |
| 87650L103 | TARS | TARSUS PHARMACEUTICALS INC | $396,488 | 0.03% | 5,652 | Common | SHARED |
| 675746606 | ONIT | ONITY GROUP INC | $386,142 | 0.03% | 9,833 | Common | SHARED |
| 766559702 | RIGL | RIGEL PHARMACEUTICALS INC | $385,374 | 0.03% | 14,252 | Common | SHARED |
| 24661P807 | DCTH | DELCATH SYS INC | $371,989 | 0.03% | 40,085 | Common | SHARED |
| 90400D108 | RARE | ULTRAGENYX PHARMACEUTICAL IN | $345,968 | 0.03% | 16,514 | Common | SHARED |
| 00289Y206 | ABEO | ABEONA THERAPEUTICS INC | $312,906 | 0.03% | 69,845 | Common | SHARED |
| 415858109 | HROW | HARROW INC | $300,239 | 0.03% | 8,515 | Common | SHARED |
| 834203309 | SLNO | SOLENO THERAPEUTICS INC | $282,906 | 0.02% | 8,450 | Common | SHARED |
| 171126204 | PTHS | PELTHOS THERAPEUTICS INC | $271,428 | 0.02% | 12,919 | Common | SHARED |
| 48581R205 | KSPI | KASPI KZ JSC | $266,652 | 0.02% | 3,600 | Common | SHARED |
| 888787108 | TOST | TOAST INC | $265,100 | 0.02% | 10,000 | Common | SHARED |
| G5S37H101 | MRX | MAREX GROUP PLC | $239,305 | 0.02% | 5,368 | Common | SHARED |
| 75955J402 | RLMD | RELMADA THERAPEUTICS INC | $220,284 | 0.02% | 31,650 | Common | SHARED |
| G38327105 | GPRK | GEOPARK LTD | $204,250 | 0.02% | 21,500 | Common | SHARED |
| 230031106 | CGEM | CULLINAN THERAPEUTICS INC | $202,038 | 0.02% | 14,218 | Common | SHARED |
| 21833P301 | CRBP | CORBUS PHARMACEUTICALS HLDGS | $200,477 | 0.02% | 21,350 | Common | SHARED |
| 359616109 | FULC | FULCRUM THERAPEUTICS INC | $200,187 | 0.02% | 26,100 | Common | SHARED |
| 696389402 | PALI | PALISADE BIO INC | $194,968 | 0.02% | 111,410 | Common | SHARED |
| 66661N886 | NPB | NORTHPOINTE BANCSHARES INC. | $177,053 | 0.02% | 10,258 | Common | SHARED |
| 00439U104 | GRCE | GRACE THERAPEUTICS INC | $174,838 | 0.02% | 37,762 | Common | SHARED |
| 29286M105 | — | ENGENE HOLDINGS INC | $163,467 | 0.01% | 24,004 | Common | SHARED |
| N44445109 | IMTX | IMMATICS N.V | $160,116 | 0.01% | 16,272 | 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.