Pale Fire Capital SE

CIK

1922318

Location

Prague, 2N

Portfolio Value

Small $201,935,152

Diversification

Diversified

Filing Date

Global Rank

#1,634 / 8,586 ▼ 191

Top Industry

Gold 31.4%

3Y Alpha vs SPY

+24.6%

Period ended 3 months ago

Filed May 14, 2026 · 33d

14 quarters · since Dec 2022

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+210.2%

SPY

+78.1%

Annualised alpha

+24.6%

Max drawdown

−21.6%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

60 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

27.8%

+8.4 pts

Top 5

66.9%

−4.8 pts

Top 10

84.6%

−6.0 pts

HHI

1,258

Diversified+72

Portfolio Trend

14 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Basic Materials	31.4%	$357,644,247	3
Communication Services	26.4%	$300,218,475	6
Consumer Defensive	17.7%	$201,935,152	3
Healthcare	16.6%	$188,468,525	33
Technology	5.3%	$60,729,245	7
Consumer Cyclical	2.4%	$26,746,335	1
Energy	0.1%	$1,065,696	3
Financial Services	0.1%	$802,499	3
Industrials	0.0%	$519,811	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

23 positions

Ticker	Company	Δ Shares	Shares	Value
BTG	B2gold Corp	+30,428,530	69,740,133	$315,922,802
CARS	Cars.com Inc.	+3,295,117	3,956,618	$32,127,738
GUTS	Fractyl Health, Inc.	+2,711,103	5,921,045	$2,711,838
CMRC	Commerce.com, Inc.	+2,203,169	2,952,094	$7,882,090
ANGI	Angi Inc.	+1,777,497	3,930,416	$26,923,349
ZD	Ziff Davis, Inc.	+1,573,414	2,783,366	$116,790,037
TDOC	Teladoc Health, Inc.	+1,454,288	3,398,491	$18,521,775
HRTX	Heron Therapeutics, Inc. /De/	+1,246,673	2,716,328	$2,173,062
KURA	Kura Oncology, Inc.	+405,229	857,474	$6,971,263
MLYS	Mineralys Therapeutics, Inc.	+355,272	365,626	$9,904,808
IAUX	i-80 Gold Corp.	+174,741	20,843,056	$31,681,445
GERN	Geron Corp	+99,710	4,888,304	$7,283,572
DOLE	Dole plc	+54,700	9,427,476	$134,718,632
PALI	Palisade Bio, Inc.	+40,700	111,410	$194,967
DERM	Journey Medical Corp	+37,345	481,987	$2,260,519
LQDA	Liquidia Corp	+8,985	388,377	$14,657,347
RARE	Ultragenyx Pharmaceutical Inc.	+6,303	16,514	$345,968
PESI	Perma Fix Environmental Services Inc	+5,406	48,626	$519,811
PTHS	Pelthos Therapeutics Inc.	+4,819	12,919	$271,428
TARS	Tarsus Pharmaceuticals, Inc.	+3,200	5,652	$396,487
ONIT	Onity Group Inc.	+3,000	9,833	$386,141
CRBP	Corbus Pharmaceuticals Holdings, Inc.	+2,700	21,350	$200,476
AGIO	Agios Pharmaceuticals, Inc.	+1,800	13,650	$461,779
No positions match the current search.

Trimmed

Positions the filer reduced

8 positions

Ticker	Company	Δ Shares	Shares	Value
GAU	Galiano Gold Inc.	−3,914,409	4,000,000	$10,040,000
BAX	Baxter International Inc	−491,273	1,582,743	$26,590,082
ABEO	Abeona Therapeutics Inc.	−104,860	69,845	$312,905
IAC	IAC Inc.	−42,226	54,281	$2,172,868
RLMD	Relmada Therapeutics, Inc.	−12,900	31,650	$220,284
RGNX	REGENXBIO Inc.	−5,800	493,726	$4,137,423
CGEM	Cullinan Therapeutics, Inc.	−5,100	14,218	$202,037
HROW	Harrow, Inc.	−3,270	8,515	$300,238
No positions match the current search.

New Positions

Positions the filer opened this quarter

21 positions

Ticker	Company	Shares	Value
PHR	Phreesia, Inc.	8,649,329	$72,481,377
COUR	Coursera, Inc.	10,511,603	$61,177,529
LSPD	Lightspeed Commerce Inc.	5,524,591	$49,500,335
PTON	Peloton Interactive, Inc.	6,234,577	$26,746,335
WEAV	Weave Communications, Inc.	1,492,806	$6,896,763
UDMY	Udemy, Inc.	1,307,141	$6,038,991
SPT	Sprout Social, Inc.	343,841	$1,959,893
DV	DoubleVerify Holdings, Inc.	110,500	$1,049,750
SM	SM Energy Co	14,700	$458,346
RPD	Rapid7, Inc.	79,249	$436,661
EXFY	Expensify, Inc.	481,051	$418,514
KOS	Kosmos Energy Ltd.	145,000	$403,100
RIGL	Rigel Pharmaceuticals Inc	14,252	$385,374
SLNO	Soleno Therapeutics Inc	8,450	$282,906
KSPI	Joint Stock Co Kaspi.kz	3,600	$266,652
TOST	Toast, Inc.	10,000	$265,100
MRX	Marex Group plc	5,368	$239,305
GPRK	GeoPark Ltd	21,500	$204,250
FULC	Fulcrum Therapeutics, Inc.	26,100	$200,187
NPB	Northpointe Bancshares Inc	10,258	$177,053
GRCE	Grace Therapeutics, Inc.	37,762	$174,838
No positions match the current search.

Sold Out

Positions the filer fully exited

19 positions

Ticker	Company	Shares	Value
COIN	Coinbase Global, Inc.	1,271,800	$287,604,852
TSLA	Tesla, Inc.	520,000	$233,854,400
HOOD	Robinhood Markets, Inc.	1,656,000	$187,293,600
CGAU	Centerra Gold Inc.	591,222	$8,495,860
TEN	Tsakos Energy Navigation Ltd	295,909	$6,634,279
TECX	Tectonic Therapeutic, Inc.	261,026	$5,445,002
DAWN	Day One Biopharmaceuticals, Inc.	544,063	$5,070,667
WIX	Wix.com Ltd.	31,000	$3,220,590
NVDA	Nvidia Corp	11,000	$2,051,500
AGRO	Adecoagro S.A.	84,637	$671,171
LFCR	Lifecore Biomedical, Inc. \De\	71,040	$581,107
CRTO	Criteo S.A.	18,097	$372,979
LXEO	Lexeo Therapeutics, Inc.	22,302	$221,458
VZLA	Vizsla Silver Corp.	38,201	$208,959
ANNX	Annexon, Inc.	38,600	$193,772
LRMR	Larimar Therapeutics, Inc.	45,218	$172,280
NVCR	NovoCure Ltd	10,723	$138,648
NEWP	New Pacific Metals Corp	28,477	$99,954
RZLT	Rezolute, Inc.	33,519	$79,104
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

3 positions · $201,935,152 total · Consumer Defensive only · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
DOLE	Dole plc Consumer Defensive	Added	9,427,476	+54,700	$134,718,632	−4.1%	66.71%
COUR	Coursera, Inc. Consumer Defensive	NEW	10,511,603	NEW	$61,177,529	NEW	30.30%
UDMY	Udemy, Inc. Consumer Defensive	NEW	1,307,141	NEW	$6,038,991	NEW	2.99%