Pale Fire Capital SE 13F holdings
Pale Fire Capital SE reported 71 positions with a total reported value of $1.4B as of 2026-06-30, in its 13F for Q2 2026, filed 2026-08-13. Top holdings by reported value: GRPN GROUPON INC (17.4%), BTG B2GOLD CORP (17.2%), ZD ZIFF DAVIS INC (9.9%), DOLE DOLE PLC (9.2%), COUR COURSERA INC (8.2%). Against 2026-03-31 it opened 24 new positions and exited 13. Next 13F due by 2026-11-14, the legal deadline 45 days after the quarter ending 2026-09-30.
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Top holdings
25 largest of 71 positions · reported value as of 2026-06-30
| Holding | Shares | Reported value | % of portfolio |
|---|---|---|---|
| GRPN GROUPON INC | 10,181,070 | $245.0M | 17.4% |
| BTG B2GOLD CORP | 64,560,777 | $241.5M | 17.2% |
| ZD ZIFF DAVIS INC | 2,660,554 | $139.3M | 9.9% |
| DOLE DOLE PLC | 9,427,476 | $129.3M | 9.2% |
| COUR COURSERA INC | 20,432,950 | $115.2M | 8.2% |
| PHR PHREESIA INC | 8,924,329 | $91.8M | 6.5% |
| LSPD LIGHTSPEED COMMERCE INC | 5,773,932 | $60.6M | 4.3% |
| BABA ALIBABA GROUP HLDG LTD | 518,964 | $49.8M | 3.5% |
| PTON PELOTON INTERACTIVE INC | 7,728,586 | $45.7M | 3.2% |
| CARS CARS COM INC | 4,008,218 | $43.8M | 3.1% |
| IAUX I-80 GOLD CORP | 18,809,579 | $27.1M | 1.9% |
| T AT&T INC | 1,140,000 | $23.6M | 1.7% |
| ANGI ANGI INC | 3,930,416 | $23.4M | 1.7% |
| TDOC TELADOC HEALTH INC | 1,973,762 | $16.7M | 1.2% |
| MLYS MINERALYS THERAPEUTICS INC | 614,284 | $16.6M | 1.2% |
| ORCL ORACLE CORP | 102,000 | $14.9M | 1.1% |
| CARG CARGURUS INC | 384,626 | $13.1M | 0.9% |
| GDDY GODADDY INC | 127,179 | $10.8M | 0.8% |
| NU NU HLDGS LTD | 735,954 | $9.8M | 0.7% |
| GAU GALIANO GOLD INC | 5,036,654 | $9.4M | 0.7% |
| TME TENCENT MUSIC ENTMT GROUP | 1,094,729 | $9.1M | 0.7% |
| CMRC COMMERCE.COM INC | 3,054,890 | $9.0M | 0.6% |
| WEAV WEAVE COMMUNICATIONS INC | 1,492,806 | $8.9M | 0.6% |
| GERN GERON CORP | 5,307,204 | $6.8M | 0.5% |
| RGNX REGENXBIO INC | 466,209 | $5.6M | 0.4% |
SEC FORM 13F · Q2 2026 · VALUES AS REPORTED, NOT PRICES
New positions this quarter
Held at 2026-06-30, not at 2026-03-31 · 24 in all · reported value as of 2026-06-30
| Holding | Shares | Reported value | % of portfolio |
|---|---|---|---|
| BABA ALIBABA GROUP HLDG LTD | 518,964 | $49.8M | 3.5% |
| T AT&T INC | 1,140,000 | $23.6M | 1.7% |
| ORCL ORACLE CORP | 102,000 | $14.9M | 1.1% |
| CARG CARGURUS INC | 384,626 | $13.1M | 0.9% |
| GDDY GODADDY INC | 127,179 | $10.8M | 0.8% |
| NU NU HLDGS LTD | 735,954 | $9.8M | 0.7% |
| TME TENCENT MUSIC ENTMT GROUP | 1,094,729 | $9.1M | 0.7% |
| DOCU DOCUSIGN INC | 108,000 | $4.8M | 0.3% |
| ITRG INTEGRA RES CORP | 1,054,986 | $2.4M | 0.2% |
| PHAT PHATHOM PHARMACEUTICALS INC | 49,713 | $539.4K | <0.1% |
| SLM SLM CORP | 17,300 | $448.8K | <0.1% |
| THC TENET HEALTHCARE CORP | 2,000 | $374.2K | <0.1% |
| GLOBAL PMTS INC | 5,050 | $366.4K | <0.1% |
| NGNE NEUROGENE INC | 9,460 | $297.5K | <0.1% |
| PKBK PARKE BANCORP INC | 8,620 | $285.8K | <0.1% |
| NKTR NEKTAR THERAPEUTICS | 3,350 | $233.9K | <0.1% |
| SPRB SPRUCE BIOSCIENCES INC | 3,818 | $206.2K | <0.1% |
| PRTH PRIORITY TECHNOLOGY HLDGS IN | 25,000 | $166.8K | <0.1% |
| KLRS KALARIS THERAPEUTICS INC | 39,626 | $161.3K | <0.1% |
| LRMR LARIMAR THERAPEUTICS INC | 43,000 | $131.2K | <0.1% |
| ARVN ARVINAS INC | 11,951 | $99.3K | <0.1% |
| MRLN MERLIN INC | 16,000 | $91.0K | <0.1% |
| CTMX CYTOMX THERAPEUTICS INC. | 22,900 | $85.9K | <0.1% |
| CNTX CONTEXT THERAPEUTICS INC | 11,796 | $6.5K | <0.1% |
Sold out
Held at 2026-03-31, gone by 2026-06-30 · 13 in all · reported value as of 2026-03-31
| Holding | Shares 2026-03-31 | Reported value | % of portfolio then |
|---|---|---|---|
| BAXTER INTL INC | 1,582,743 | $26.6M | 2.3% |
| UDEMY INC | 1,307,141 | $6.0M | 0.5% |
| IAC INC | 54,281 | $2.2M | 0.2% |
| XFOR X4 PHARMACEUTICALS INC | 167,590 | $692.1K | <0.1% |
| AGIO AGIOS PHARMACEUTICALS INC | 13,650 | $461.8K | <0.1% |
| SM SM ENERGY COMPANY | 14,700 | $458.3K | <0.1% |
| KOS KOSMOS ENERGY LTD | 145,000 | $403.1K | <0.1% |
| SOLENO THERAPEUTICS INC | 8,450 | $282.9K | <0.1% |
| MRX MAREX GROUP PLC | 5,368 | $239.3K | <0.1% |
| FULC FULCRUM THERAPEUTICS INC | 26,100 | $200.2K | <0.1% |
| GRCE GRACE THERAPEUTICS INC | 37,762 | $174.8K | <0.1% |
| ENGN ENGENE HOLDINGS INC | 24,004 | $163.5K | <0.1% |
| IMTX IMMATICS N.V | 16,272 | $160.1K | <0.1% |
Biggest increases and decreases
Positions held at both quarter ends, by change in shares · reported value as of 2026-06-30
Increases
| Holding | Shares 2026-03-31 | Shares 2026-06-30 | Change | Reported value |
|---|---|---|---|---|
| COUR COURSERA INC | 10,511,603 | 20,432,950 | +94.4% | $115.2M |
| PTON PELOTON INTERACTIVE INC | 6,234,577 | 7,728,586 | +24.0% | $45.7M |
| MLYS MINERALYS THERAPEUTICS INC | 365,626 | 614,284 | +68.0% | $16.6M |
| PHR PHREESIA INC | 8,649,329 | 8,924,329 | +3.2% | $91.8M |
| LSPD LIGHTSPEED COMMERCE INC | 5,524,591 | 5,773,932 | +4.5% | $60.6M |
| GAU GALIANO GOLD INC | 4,000,000 | 5,036,654 | +25.9% | $9.4M |
| DV DOUBLEVERIFY HLDGS INC | 110,500 | 220,336 | +99.4% | $2.4M |
| CARS CARS COM INC | 3,956,618 | 4,008,218 | +1.3% | $43.8M |
| GERN GERON CORP | 4,888,304 | 5,307,204 | +8.6% | $6.8M |
| GPRK GEOPARK LTD | 21,500 | 63,300 | +194.4% | $576.0K |
| DERM JOURNEY MED CORP | 481,987 | 528,584 | +9.7% | $3.7M |
| CMRC COMMERCE.COM INC | 2,952,094 | 3,054,890 | +3.5% | $9.0M |
Decreases
| Holding | Shares 2026-03-31 | Shares 2026-06-30 | Change | Reported value |
|---|---|---|---|---|
| LQDA LIQUIDIA CORPORATION | 388,377 | 3,479 | -99.1% | $277.4K |
| BTG B2GOLD CORP | 69,740,133 | 64,560,777 | -7.4% | $241.5M |
| TDOC TELADOC HEALTH INC | 3,398,491 | 1,973,762 | -41.9% | $16.7M |
| KURA KURA ONCOLOGY INC | 857,474 | 56,600 | -93.4% | $620.9K |
| ZD ZIFF DAVIS INC | 2,783,366 | 2,660,554 | -4.4% | $139.3M |
| SNDX SYNDAX PHARMACEUTICALS INC | 284,460 | 125,550 | -55.9% | $2.7M |
| IAUX I-80 GOLD CORP | 20,843,056 | 18,809,579 | -9.8% | $27.1M |
| GUTS FRACTYL HEALTH INC | 5,921,045 | 5,003,237 | -15.5% | $4.0M |
| EXFY EXPENSIFY INC | 481,051 | 134,409 | -72.1% | $240.6K |
| RGNX REGENXBIO INC | 493,726 | 466,209 | -5.6% | $5.6M |
| HRTX HERON THERAPEUTICS INC | 2,716,328 | 2,511,478 | -7.5% | $1.1M |
| CGEM CULLINAN THERAPEUTICS INC | 14,218 | 12,418 | -12.7% | $226.1K |
CIK 1922318 · 13F FILINGS ON EDGAR · INFORMATIONAL ONLY
