Pale Fire Capital SE
CIK 0001922318
Annualised vol
11.438506%
Beta
0.124795
HHI
949.470834
Top-10 weight
82.171294%
VaR 95%
0.922169%
VaR 99%
2.362259%
Max drawdown
17.544393%
Matched value
93.664692%
Returns of reported holdings
Loading returns…
Position changes vs prior quarter
What the latest 13F shows bought and sold against the quarter before, by share count.
| Ticker | Change | Shares now | Shares before | Share change % | Value now ($) |
|---|---|---|---|---|---|
| GRPN | UNCHANGED | 10,181,070 | 10,181,070 | 0.0% | 244,956,544 |
| BTG | REDUCED | 64,560,777 | 69,740,133 | -7.43% | 241,457,306 |
| ZD | REDUCED | 2,660,554 | 2,783,366 | -4.41% | 139,333,213 |
| DOLE | UNCHANGED | 9,427,476 | 9,427,476 | 0.0% | 129,344,971 |
| COUR | ADDED | 20,432,950 | 10,511,603 | 94.38% | 115,241,838 |
| PHR | ADDED | 8,924,329 | 8,649,329 | 3.18% | 91,831,345 |
| LSPD | ADDED | 5,773,932 | 5,524,591 | 4.51% | 60,568,547 |
| PTON | ADDED | 7,728,586 | 6,234,577 | 23.96% | 45,675,943 |
| CARS | ADDED | 4,008,218 | 3,956,618 | 1.3% | 43,849,905 |
| IAUX | REDUCED | 18,809,579 | 20,843,056 | -9.76% | 27,085,794 |
| T | NEW | 1,140,000 | - | - | 23,598,000 |
| ANGI | UNCHANGED | 3,930,416 | 3,930,416 | 0.0% | 23,385,975 |
| TDOC | REDUCED | 1,973,762 | 3,398,491 | -41.92% | 16,737,502 |
| MLYS | ADDED | 614,284 | 365,626 | 68.01% | 16,573,382 |
| ORCL | NEW | 102,000 | - | - | 14,948,100 |
| CARG | NEW | 384,626 | - | - | 13,111,900 |
| GDDY | NEW | 127,179 | - | - | 10,794,954 |
| GAU | ADDED | 5,036,654 | 4,000,000 | 25.92% | 9,418,543 |
| CMRC | ADDED | 3,054,890 | 2,952,094 | 3.48% | 9,042,474 |
| WEAV | UNCHANGED | 1,492,806 | 1,492,806 | 0.0% | 8,941,908 |
| GERN | ADDED | 5,307,204 | 4,888,304 | 8.57% | 6,793,221 |
| RGNX | REDUCED | 466,209 | 493,726 | -5.57% | 5,585,184 |
| DOCU | NEW | 108,000 | - | - | 4,797,360 |
| GUTS | REDUCED | 5,003,237 | 5,921,045 | -15.5% | 3,974,571 |
| SNDX | REDUCED | 125,550 | 284,460 | -55.86% | 2,744,523 |
| SPT | UNCHANGED | 343,841 | 343,841 | 0.0% | 2,596,000 |
| SGMT | UNCHANGED | 221,875 | 221,875 | 0.0% | 1,715,094 |
| HELP | UNCHANGED | 153,505 | 153,505 | 0.0% | 1,014,668 |
| RPD | UNCHANGED | 79,249 | 79,249 | 0.0% | 641,917 |
| KURA | REDUCED | 56,600 | 857,474 | -93.4% | 620,902 |
| TARS | ADDED | 9,802 | 5,652 | 73.43% | 616,938 |
| GPRK | ADDED | 63,300 | 21,500 | 194.42% | 576,030 |
| RIGL | UNCHANGED | 14,252 | 14,252 | 0.0% | 557,538 |
| PHAT | NEW | 49,713 | - | - | 539,386 |
| ABEO | ADDED | 81,945 | 69,845 | 17.32% | 506,420 |
| ONIT | ADDED | 11,833 | 9,833 | 20.34% | 470,362 |
| SLM | NEW | 17,300 | - | - | 448,762 |
| HROW | ADDED | 10,515 | 8,515 | 23.49% | 446,572 |
| THC | NEW | 2,000 | - | - | 374,160 |
| PTHS | UNCHANGED | 12,919 | 12,919 | 0.0% | 365,091 |
| NGNE | NEW | 9,460 | - | - | 297,517 |
| PKBK | NEW | 8,620 | - | - | 285,839 |
| TOST | UNCHANGED | 10,000 | 10,000 | 0.0% | 278,200 |
| LQDA | REDUCED | 3,479 | 388,377 | -99.1% | 277,381 |
| NPB | ADDED | 13,258 | 10,258 | 29.25% | 254,288 |
| EXFY | REDUCED | 134,409 | 481,051 | -72.06% | 240,592 |
| NKTR | NEW | 3,350 | - | - | 233,864 |
| PALI | UNCHANGED | 111,410 | 111,410 | 0.0% | 232,847 |
| CGEM | REDUCED | 12,418 | 14,218 | -12.66% | 226,132 |
| RLMD | UNCHANGED | 31,650 | 31,650 | 0.0% | 219,018 |
| SPRB | NEW | 3,818 | - | - | 206,172 |
| KLRS | NEW | 39,626 | - | - | 161,278 |
| LRMR | NEW | 43,000 | - | - | 131,150 |
| ARVN | NEW | 11,951 | - | - | 99,313 |
| MRLN | NEW | 16,000 | - | - | 91,040 |
| CTMX | NEW | 22,900 | - | - | 85,875 |
| CNTX | NEW | 11,796 | - | - | 6,534 |
| BAX | CLOSED OUT | 0 | 1,582,743 | -100.0% | 0 |
| XFOR | CLOSED OUT | 0 | 167,590 | -100.0% | 0 |
| KOS | CLOSED OUT | 0 | 145,000 | -100.0% | 0 |
| GRCE | CLOSED OUT | 0 | 37,762 | -100.0% | 0 |
| FULC | CLOSED OUT | 0 | 26,100 | -100.0% | 0 |
| IMTX | CLOSED OUT | 0 | 16,272 | -100.0% | 0 |
| SM | CLOSED OUT | 0 | 14,700 | -100.0% | 0 |
| AGIO | CLOSED OUT | 0 | 13,650 | -100.0% | 0 |
| MRX | CLOSED OUT | 0 | 5,368 | -100.0% | 0 |
Holdings (latest quarter)
| Ticker | Change | Issuer | Class | CUSIP | Value ($) | Weight % | Shares |
|---|---|---|---|---|---|---|---|
| GRPN | UNCHANGED | GROUPON INC | COM NEW | 399473206 | 244,956,544 | 17.32 | 1.018107E7 |
| BTG | REDUCED | B2GOLD CORP | COM | 11777Q209 | 241,457,306 | 17.07 | 6.4560777E7 |
| ZD | REDUCED | ZIFF DAVIS INC | COM | 48123V102 | 139,333,213 | 9.85 | 2660554.0 |
| DOLE | UNCHANGED | DOLE PLC | ORD SHS | G27907107 | 129,344,971 | 9.15 | 9427476.0 |
| COUR | ADDED | COURSERA INC | COM | 22266M104 | 115,241,838 | 8.15 | 2.043295E7 |
| PHR | ADDED | PHREESIA INC | COM | 71944F106 | 91,831,345 | 6.49 | 8924329.0 |
| LSPD | ADDED | LIGHTSPEED COMMERCE INC | SUB VTG SHS | 53229C107 | 60,568,547 | 4.28 | 5773932.0 |
| - | ALIBABA GROUP HLDG LTD | SPONSORED ADS | 01609W102 | 49,810,165 | 3.52 | 518964.0 | |
| PTON | ADDED | PELOTON INTERACTIVE INC | CL A COM | 70614W100 | 45,675,943 | 3.23 | 7728586.0 |
| CARS | ADDED | CARS COM INC | COM | 14575E105 | 43,849,905 | 3.1 | 4008218.0 |
| IAUX | REDUCED | I-80 GOLD CORP | COM | 44955L106 | 27,085,794 | 1.92 | 1.8809579E7 |
| T | NEW | AT&T INC | COM | 00206R102 | 23,598,000 | 1.67 | 1140000.0 |
| ANGI | UNCHANGED | ANGI INC | CL A NEW | 00183L201 | 23,385,975 | 1.65 | 3930416.0 |
| TDOC | REDUCED | TELADOC HEALTH INC | COM | 87918A105 | 16,737,502 | 1.18 | 1973762.0 |
| MLYS | ADDED | MINERALYS THERAPEUTICS INC | COM | 603170101 | 16,573,382 | 1.17 | 614284.0 |
| ORCL | NEW | ORACLE CORP | COM | 68389X105 | 14,948,100 | 1.06 | 102000.0 |
| CARG | NEW | CARGURUS INC | COM CL A | 141788109 | 13,111,900 | 0.93 | 384626.0 |
| GDDY | NEW | GODADDY INC | CL A | 380237107 | 10,794,954 | 0.76 | 127179.0 |
| - | NU HLDGS LTD | ORD SHS CL A | G6683N103 | 9,832,345 | 0.7 | 735954.0 | |
| GAU | ADDED | GALIANO GOLD INC | COM | 36352H100 | 9,418,543 | 0.67 | 5036654.0 |
| - | TENCENT MUSIC ENTMT GROUP | SPON ADS | 88034P109 | 9,140,987 | 0.65 | 1094729.0 | |
| CMRC | ADDED | COMMERCE.COM INC | COM SER 1 | 08975P108 | 9,042,474 | 0.64 | 3054890.0 |
| WEAV | UNCHANGED | WEAVE COMMUNICATIONS INC | COM | 94724R108 | 8,941,908 | 0.63 | 1492806.0 |
| - | STATE STR SPDR S&P 500 ETF T | TR UNIT | 78462F103 | 8,289,147 | 0.59 | 11100.0 | |
| GERN | ADDED | GERON CORP | COM | 374163103 | 6,793,221 | 0.48 | 5307204.0 |
| RGNX | REDUCED | REGENXBIO INC | COM | 75901B107 | 5,585,184 | 0.39 | 466209.0 |
| DOCU | NEW | DOCUSIGN INC | COM | 256163106 | 4,797,360 | 0.34 | 108000.0 |
| GUTS | REDUCED | FRACTYL HEALTH INC | COM | 35168W103 | 3,974,571 | 0.28 | 5003237.0 |
| - | JOURNEY MED CORP | COM | 48115J109 | 3,742,375 | 0.26 | 528584.0 | |
| SNDX | REDUCED | SYNDAX PHARMACEUTICALS INC | COM | 87164F105 | 2,744,523 | 0.19 | 125550.0 |
| SPT | UNCHANGED | SPROUT SOCIAL INC | COM CL A | 85209W109 | 2,596,000 | 0.18 | 343841.0 |
| - | INTEGRA RES CORP | COM | 45826T509 | 2,394,818 | 0.17 | 1054986.0 | |
| - | DOUBLEVERIFY HLDGS INC | COM | 25862V105 | 2,388,442 | 0.17 | 220336.0 | |
| SGMT | UNCHANGED | SAGIMET BIOSCIENCES INC | COM SER A | 786700104 | 1,715,094 | 0.12 | 221875.0 |
| - | HERON THERAPEUTICS INC | COM | 427746102 | 1,071,899 | 0.08 | 2511478.0 | |
| HELP | UNCHANGED | CYBIN INC | COM NEW | 23256X407 | 1,014,668 | 0.07 | 153505.0 |
| - | PERMA-FIX ENVIRONMENTAL SVCS | COM NEW | 714157203 | 794,910 | 0.06 | 55627.0 | |
| RPD | UNCHANGED | RAPID7 INC | COM | 753422104 | 641,917 | 0.05 | 79249.0 |
| KURA | REDUCED | KURA ONCOLOGY INC | COM | 50127T109 | 620,902 | 0.04 | 56600.0 |
| TARS | ADDED | TARSUS PHARMACEUTICALS INC | COM | 87650L103 | 616,938 | 0.04 | 9802.0 |
| GPRK | ADDED | GEOPARK LTD | USD SHS | G38327105 | 576,030 | 0.04 | 63300.0 |
| RIGL | UNCHANGED | RIGEL PHARMACEUTICALS INC | COM | 766559702 | 557,538 | 0.04 | 14252.0 |
| - | ULTRAGENYX PHARMACEUTICAL IN | COM | 90400D108 | 551,402 | 0.04 | 16514.0 | |
| PHAT | NEW | PHATHOM PHARMACEUTICALS INC | COM | 71722W107 | 539,386 | 0.04 | 49713.0 |
| ABEO | ADDED | ABEONA THERAPEUTICS INC | COM NEW | 00289Y206 | 506,420 | 0.04 | 81945.0 |
| - | DELCATH SYS INC | COM NEW | 24661P807 | 504,670 | 0.04 | 40085.0 | |
| ONIT | ADDED | ONITY GROUP INC | COM NEW | 675746606 | 470,362 | 0.03 | 11833.0 |
| SLM | NEW | SLM CORP | COM | 78442P106 | 448,762 | 0.03 | 17300.0 |
| HROW | ADDED | HARROW INC | COM | 415858109 | 446,572 | 0.03 | 10515.0 |
| THC | NEW | TENET HEALTHCARE CORP | COM NEW | 88033G407 | 374,160 | 0.03 | 2000.0 |
| - | GLOBAL PMTS INC | COM | 37940X102 | 366,428 | 0.03 | 5050.0 | |
| PTHS | UNCHANGED | PELTHOS THERAPEUTICS INC | COM SHS | 171126204 | 365,091 | 0.03 | 12919.0 |
| - | KASPI KZ JSC | SPONSORED ADS | 48581R205 | 311,904 | 0.02 | 3600.0 | |
| NGNE | NEW | NEUROGENE INC | COM | 64135M105 | 297,517 | 0.02 | 9460.0 |
| PKBK | NEW | PARKE BANCORP INC | COM | 700885106 | 285,839 | 0.02 | 8620.0 |
| TOST | UNCHANGED | TOAST INC | CL A | 888787108 | 278,200 | 0.02 | 10000.0 |
| LQDA | REDUCED | LIQUIDIA CORPORATION | COM NEW | 53635D202 | 277,381 | 0.02 | 3479.0 |
| NPB | ADDED | NORTHPOINTE BANCSHARES INC. | COM SHS | 66661N886 | 254,288 | 0.02 | 13258.0 |
| EXFY | REDUCED | EXPENSIFY INC | COM CL A | 30219Q106 | 240,592 | 0.02 | 134409.0 |
| NKTR | NEW | NEKTAR THERAPEUTICS | COM NEW | 640268306 | 233,864 | 0.02 | 3350.0 |
| PALI | UNCHANGED | PALISADE BIO INC | COM | 696389402 | 232,847 | 0.02 | 111410.0 |
| - | CORBUS PHARMACEUTICALS HLDGS | COM NEW | 21833P301 | 227,943 | 0.02 | 24301.0 | |
| CGEM | REDUCED | CULLINAN THERAPEUTICS INC | COM | 230031106 | 226,132 | 0.02 | 12418.0 |
| RLMD | UNCHANGED | RELMADA THERAPEUTICS INC | COM | 75955J402 | 219,018 | 0.02 | 31650.0 |
| SPRB | NEW | SPRUCE BIOSCIENCES INC | COM NEW | 85209E208 | 206,172 | 0.01 | 3818.0 |
| - | PRIORITY TECHNOLOGY HLDGS IN | COM | 74275G107 | 166,750 | 0.01 | 25000.0 | |
| KLRS | NEW | KALARIS THERAPEUTICS INC | COM | 482929106 | 161,278 | 0.01 | 39626.0 |
| LRMR | NEW | LARIMAR THERAPEUTICS INC | COM | 517125100 | 131,150 | 0.01 | 43000.0 |
| ARVN | NEW | ARVINAS INC | COM | 04335A105 | 99,313 | 0.01 | 11951.0 |
| MRLN | NEW | MERLIN INC | COM | 590106100 | 91,040 | 0.01 | 16000.0 |
| CTMX | NEW | CYTOMX THERAPEUTICS INC. | COM | 23284F105 | 85,875 | 0.01 | 22900.0 |
| CNTX | NEW | CONTEXT THERAPEUTICS INC | COM | 21077P108 | 6,534 | 0.0 | 11796.0 |
Quarterly portfolios
| Period | Filed | Value ($) | Positions | Vol % | Beta | Max DD % |
|---|---|---|---|---|---|---|
| 2026-06-30 | 2026-08-13 | 1,414,204,068 | 72 | 11.438506 | 0.124795 | 17.544393 |
| 2026-03-31 | 2026-05-14 | 1,138,129,049 | 60 | 11.636388 | 0.11093 | 16.345336 |
| 2025-12-31 | 2026-02-13 | 1,489,907,358 | 60 | 19.644778 | 0.55305 | 42.80159 |
| 2025-09-30 | 2025-11-13 | 913,538,332 | 54 | 14.678386 | 0.096608 | 20.438499 |
| 2025-03-31 | 2025-05-14 | 841,540,447 | 62 | 11.317487 | 0.092168 | 17.210902 |
| 2024-12-31 | 2025-02-13 | 440,750,346 | 51 | 14.507434 | 0.141713 | 21.337706 |