Pale Fire Capital SE — 13F Holdings & Portfolio
CIK 1922318 · latest 13F-HR filed 2026-08-13
Pale Fire Capital SE manages $1.41B in 13F-reported U.S. long-equity assets across 72 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are GRPN (17.32%), BTG (17.07%), ZD (9.85%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 24 new positions, exited 13, added to 33, and trimmed 11.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
PRAGUE, 2N 110 00
$1.41B
Long-equity book
72
Distinct positions
2026-06-30
Filed 2026-08-13
+24 / −13 / ↑33 / ↓11
vs 2026-03-31
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- GROUPON INC$123.8M +102.2%
- COURSERA INC$54.1M +88.4%
- ZIFF DAVIS INC$22.5M +19.3%
- PHREESIA INC$19.3M +26.7%
- PELOTON INTERACTIVE INC$18.9M +70.8%
Top Trims
- B2GOLD CORP-$74.5M -23.6%
- LIQUIDIA CORPORATION-$14.4M -98.1%
- KURA ONCOLOGY INC-$6.4M -91.1%
- I-80 GOLD CORP-$4.6M -14.5%
- SYNDAX PHARMACEUTICALS INC-$3.9M -58.7%
New Positions
- ALIBABA GROUP HLDG LTD$49.8M
- AT&T INC$23.6M
- ORACLE CORP$14.9M
- CARGURUS INC$13.1M
- GODADDY INC$10.8M
Exited Positions
- BAXTER INTL INC$26.6M
- UDEMY INC$6.0M
- IAC INC$2.2M
- X4 PHARMACEUTICALS INC$692.1K
- AGIOS PHARMACEUTICALS INC$461.8K
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | GROUPON INC | GRPN | 399473206 | $245.0M | 17.32% | 10,181,070 | SH |
| 2 | B2GOLD CORP | BTG | 11777Q209 | $241.5M | 17.07% | 64,560,777 | SH |
| 3 | ZIFF DAVIS INC | ZD | 48123V102 | $139.3M | 9.85% | 2,660,554 | SH |
| 4 | DOLE PLC | DOLE | G27907107 | $129.3M | 9.15% | 9,427,476 | SH |
| 5 | COURSERA INC | COUR | 22266M104 | $115.2M | 8.15% | 20,432,950 | SH |
| 6 | PHREESIA INC | PHR | 71944F106 | $91.8M | 6.49% | 8,924,329 | SH |
| 7 | LIGHTSPEED COMMERCE INC | LSPD | 53229C107 | $60.6M | 4.28% | 5,773,932 | SH |
| 8 | ALIBABA GROUP HLDG LTD | BABA | 01609W102 | $49.8M | 3.52% | 518,964 | SH |
| 9 | PELOTON INTERACTIVE INC | PTON | 70614W100 | $45.7M | 3.23% | 7,728,586 | SH |
| 10 | CARS COM INC | CARS | 14575E105 | $43.8M | 3.10% | 4,008,218 | SH |
| 11 | I-80 GOLD CORP | IAUX | 44955L106 | $27.1M | 1.92% | 18,809,579 | SH |
| 12 | AT&T INC | T | 00206R102 | $23.6M | 1.67% | 1,140,000 | SH |
| 13 | ANGI INC | ANGI | 00183L201 | $23.4M | 1.65% | 3,930,416 | SH |
| 14 | TELADOC HEALTH INC | TDOC | 87918A105 | $16.7M | 1.18% | 1,973,762 | SH |
| 15 | MINERALYS THERAPEUTICS INC | MLYS | 603170101 | $16.6M | 1.17% | 614,284 | SH |
| 16 | ORACLE CORP | ORCL | 68389X105 | $14.9M | 1.06% | 102,000 | SH |
| 17 | CARGURUS INC | CARG | 141788109 | $13.1M | 0.93% | 384,626 | SH |
| 18 | GODADDY INC | GDDY | 380237107 | $10.8M | 0.76% | 127,179 | SH |
| 19 | NU HLDGS LTD | NU | G6683N103 | $9.8M | 0.70% | 735,954 | SH |
| 20 | GALIANO GOLD INC | GAU | 36352H100 | $9.4M | 0.67% | 5,036,654 | SH |
| 21 | TENCENT MUSIC ENTMT GROUP | TME | 88034P109 | $9.1M | 0.65% | 1,094,729 | SH |
| 22 | COMMERCE.COM INC | CMRC | 08975P108 | $9.0M | 0.64% | 3,054,890 | SH |
| 23 | WEAVE COMMUNICATIONS INC | WEAV | 94724R108 | $8.9M | 0.63% | 1,492,806 | SH |
| 24 | STATE STR SPDR S&P 500 ETF T Put | SPY | 78462F103 | $8.3M | 0.59% | 11,100 | SH |
| 25 | GERON CORP | GERN | 374163103 | $6.8M | 0.48% | 5,307,204 | SH |
| 26 | REGENXBIO INC | RGNX | 75901B107 | $5.6M | 0.39% | 466,209 | SH |
| 27 | DOCUSIGN INC | DOCU | 256163106 | $4.8M | 0.34% | 108,000 | SH |
| 28 | FRACTYL HEALTH INC | GUTS | 35168W103 | $4.0M | 0.28% | 5,003,237 | SH |
| 29 | JOURNEY MED CORP | DERM | 48115J109 | $3.7M | 0.26% | 528,584 | SH |
| 30 | SYNDAX PHARMACEUTICALS INC | SNDX | 87164F105 | $2.7M | 0.19% | 125,550 | SH |
| 31 | SPROUT SOCIAL INC | SPT | 85209W109 | $2.6M | 0.18% | 343,841 | SH |
| 32 | INTEGRA RES CORP | ITRG | 45826T509 | $2.4M | 0.17% | 1,054,986 | SH |
| 33 | DOUBLEVERIFY HLDGS INC | DV | 25862V105 | $2.4M | 0.17% | 220,336 | SH |
| 34 | SAGIMET BIOSCIENCES INC | SGMT | 786700104 | $1.7M | 0.12% | 221,875 | SH |
| 35 | HERON THERAPEUTICS INC | HRTX | 427746102 | $1.1M | 0.08% | 2,511,478 | SH |
| 36 | CYBIN INC | HELP | 23256X407 | $1.0M | 0.07% | 153,505 | SH |
| 37 | PERMA-FIX ENVIRONMENTAL SVCS | PESI | 714157203 | $794.9K | 0.06% | 55,627 | SH |
| 38 | RAPID7 INC | RPD | 753422104 | $641.9K | 0.05% | 79,249 | SH |
| 39 | KURA ONCOLOGY INC | KURA | 50127T109 | $620.9K | 0.04% | 56,600 | SH |
| 40 | TARSUS PHARMACEUTICALS INC | TARS | 87650L103 | $616.9K | 0.04% | 9,802 | SH |
| 41 | GEOPARK LTD | GPRK | G38327105 | $576.0K | 0.04% | 63,300 | SH |
| 42 | RIGEL PHARMACEUTICALS INC | RIGL | 766559702 | $557.5K | 0.04% | 14,252 | SH |
| 43 | ULTRAGENYX PHARMACEUTICAL IN | RARE | 90400D108 | $551.4K | 0.04% | 16,514 | SH |
| 44 | PHATHOM PHARMACEUTICALS INC | PHAT | 71722W107 | $539.4K | 0.04% | 49,713 | SH |
| 45 | ABEONA THERAPEUTICS INC | ABEO | 00289Y206 | $506.4K | 0.04% | 81,945 | SH |
| 46 | DELCATH SYS INC | DCTH | 24661P807 | $504.7K | 0.04% | 40,085 | SH |
| 47 | ONITY GROUP INC | ONIT | 675746606 | $470.4K | 0.03% | 11,833 | SH |
| 48 | SLM CORP | SLM | 78442P106 | $448.8K | 0.03% | 17,300 | SH |
| 49 | HARROW INC | HROW | 415858109 | $446.6K | 0.03% | 10,515 | SH |
| 50 | TENET HEALTHCARE CORP | THC | 88033G407 | $374.2K | 0.03% | 2,000 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-08-13 | $1.41B | 72 | 0000921895-26-002114 |
| 2026-03-31 | 2026-05-14 | $1.14B | 60 | 0000921895-26-001322 |
| 2025-12-31 | 2026-02-13 | $1.49B | 60 | 0000921895-26-000378 |
| 2025-09-30 | 2025-11-13 | $913.5M | 54 | 0000921895-25-003010 |