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Pale Fire Capital SE

Q4 2025 · Filed 2026-02-13
Market Value
$775M
-14.8%
Holdings
67
+3
New Purchases
19
Added To
16
Closed
15
Reduced
13
Top 10 Concentration
88.2%
Turnover
50.7%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
DOLE 18.12% 12.68% +5.44% $140M
BAX 5.11% 0.00% +5.11% $40M
JCOM 5.49% 1.68% +3.80% $43M
TDOC 1.76% 0.00% +1.76% $14M
IAUX 3.89% 2.36% +1.53% $30M
ANGIV 3.59% 2.44% +1.15% $28M
LQDA 1.69% 0.60% +1.09% $13M
CARS 1.04% 0.00% +1.04% $8M
GAU 2.58% 1.60% +0.98% $20M
GUTS 0.91% 0.00% +0.91% $7M
SNDX 0.77% 0.00% +0.77% $6M
RGNX 0.93% 0.27% +0.66% $7M
IAC 0.49% 0.00% +0.49% $4M
GERN 0.82% 0.34% +0.47% $6M
DAWN 0.65% 0.23% +0.42% $5M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
IAG 0.00% 5.58% -5.58% $0
NGD 0.00% 4.90% -4.90% $0
BTG 22.87% 27.20% -4.33% $177M
TEVA 0.00% 3.75% -3.75% $0
GRPN 23.13% 26.12% -2.99% $179M
MLYS 0.05% 2.22% -2.17% $376K
CGAU 1.10% 2.75% -1.66% $8M
ATAI 0.02% 0.63% -0.60% $187K
NUVB 0.00% 0.59% -0.59% $0
INSW 0.00% 0.39% -0.39% $0
SSTK 0.00% 0.35% -0.35% $0
CRBU 0.00% 0.20% -0.20% $0
QDEL 0.00% 0.06% -0.06% $0
AQST 0.00% 0.06% -0.06% $0
ETNB 0.00% 0.04% -0.04% $0

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 2 $0 0.0%
Mid Cap 16 $294M 38.0%
Small Cap 34 $464M 59.8%
Micro Cap 15 $17M 2.2%

Portfolio Analytics

Avg Market Cap
$2.4B
Median Market Cap
$821M
Avg P/E
26.4
Median P/E
11.3
Avg Dividend Yield
0.01%
Avg Beta
1.05
# Stocks
67
# ETFs / Funds
0

Top Holdings (67 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 GRPN 23.13% 10,181,070 $179M $17.61 -$58M
2 BTG 22.87% 39,311,603 $177M $4.51 -$70M -10,704,306 -21.4%
3 DOLE 18.12% 9,372,776 $140M $14.99 $25M +784,699 +9.1%
4 JCOM 5.49% 1,209,952 $43M $35.15 $27M +808,127 +201.1%
5 BAX 5.11% 2,074,016 $40M $19.11 +2,074,016 NEW
6 IAUX 3.89% 20,668,315 $30M $1.46 $9M -1,849,844 -8.2%
7 ANGIV 3.59% 2,152,919 $28M $12.93 $6M +784,441 +57.3%
8 GAU 2.58% 7,914,409 $20M $2.53 $5M +1,258,674 +18.9%
9 TDOC 1.76% 1,944,203 $14M $7.00 +1,944,203 NEW
10 LQDA 1.69% 379,392 $13M $34.49 $8M +138,671 +57.6%
11 CGAU 1.10% 591,222 $8M $14.37 -$17M -1,744,656 -74.7%
12 CARS 1.04% 661,501 $8M $12.20 +661,501 NEW
13 RGNX 0.93% 499,526 $7M $14.40 $5M +243,925 +95.4%
14 GUTS 0.91% 3,209,942 $7M $2.20 +3,209,942 NEW
15 TNP 0.86% 295,909 $7M $22.42 -$934K -44,710 -13.1%
16 GERN 0.82% 4,788,594 $6M $1.32 $3M +2,506,840 +109.9%
17 SNDX 0.77% 284,460 $6M $21.01 +284,460 NEW
18 TECX 0.70% 261,026 $5M $20.86 $1M +1,300 +0.5%
19 DAWN 0.65% 544,063 $5M $9.32 $3M +241,596 +79.9%
20 KURA 0.61% 452,245 $5M $10.39 -$680K -155,545 -25.6%
21 IAC 0.49% 96,507 $4M $39.10 +96,507 NEW
22 DERM 0.44% 444,642 $3M $7.71 $2M +216,075 +94.5%
23 WIX 0.42% 31,000 $3M $103.89 +31,000 NEW
24 BIGC 0.40% 748,925 $3M $4.12 $2M +450,294 +150.8%
25 HRTX 0.25% 1,469,655 $2M $1.30 $1M +998,465 +211.9%
26 SGMT 0.17% 221,875 $1M $5.92 +221,875 NEW
27 CYBN 0.16% 153,505 $1M $8.18 $352K
28 0H7R.L 0.12% 174,705 $921K $5.27 +174,705 NEW
29 AGRO 0.09% 84,637 $671K $7.93 $8K
30 XFOR 0.09% 167,590 $670K $4.00 $52K -13,261 -7.3%
31 LNDC 0.07% 71,040 $581K $8.18 $106K +6,420 +9.9%
32 HROW 0.07% 11,785 $577K $49.00 $188K +3,692 +45.6%
33 PESI 0.07% 43,220 $544K $12.59 $87K -2,050 -4.5%
34 DCTH 0.05% 40,085 $405K $10.10 +40,085 NEW
35 MLYS 0.05% 10,354 $376K $36.29 -$20M -522,053 -98.1%
36 CRTO 0.05% 18,097 $373K $20.61 +18,097 NEW
37 AGIO 0.04% 11,850 $323K $27.22 +11,850 NEW
38 ONIT 0.04% 6,833 $313K $45.79 +6,833 NEW
39 PTHS 0.03% 8,100 $251K $31.00 +8,100 NEW
40 RARE 0.03% 10,211 $235K $23.00 +10,211 NEW
41 LXEO 0.03% 22,302 $221K $9.93 -$2K -11,348 -33.7%
42 RLMD 0.03% 44,550 $215K $4.83 +44,550 NEW
43 TARS 0.03% 2,452 $201K $81.88 -$220K -4,623 -65.3%
44 CGEM 0.03% 19,318 $200K $10.35 $113K +4,703 +32.2%
45 ANNX 0.02% 38,600 $194K $5.02 +38,600 NEW
46 ATAI 0.02% 45,811 $187K $4.09 -$6M -1,034,957 -95.8%
47 LRMR 0.02% 45,218 $172K $3.81 $26K
48 IMTX 0.02% 16,272 $171K $10.50 -$121K -17,998 -52.5%
49 0SZI.L 0.02% 18,650 $152K $8.14 +18,650 NEW
50 NVCR 0.02% 10,723 $139K $12.93 +10,723 NEW
51 NEWP 0.01% 28,477 $100K $3.51 $30K +2,499 +9.6%
52 RZLT 0.01% 33,519 $79K $2.36 -$315K -8,403 -20.0%
53 ODV —% -$72K -21,133 -100.0% SOLD
54 QDEL —% -$536K -18,209 -100.0% SOLD
55 MITT —% -$222K -30,728 -100.0% SOLD
56 MUX —% -$217K -12,695 -100.0% SOLD
57 TEVA —% -$34M -1,689,811 -100.0% SOLD
58 SSTK —% -$3M -154,278 -100.0% SOLD
59 AQST —% -$521K -93,132 -100.0% SOLD
60 NUVB —% -$5M -1,444,647 -100.0% SOLD
61 ETNB —% -$395K -26,903 -100.0% SOLD
62 IAG —% -$51M -3,930,998 -100.0% SOLD
63 CRBU —% -$2M -775,055 -100.0% SOLD
64 AKBA —% -$137K -50,210 -100.0% SOLD
65 INSW —% -$4M -76,059 -100.0% SOLD
66 ARWR —% -$349K -10,123 -100.0% SOLD
67 NGD —% -$45M -6,211,037 -100.0% SOLD

Options Breakdown

0 Calls $0 Call Value 5 Puts $714M Put Value

Top Puts

SymbolSharesValueStatus
COIN 1,271,800 $288M NEW
TSLA 520,000 $234M NEW
HOOD 1,656,000 $187M NEW
OEF 19,600 $3M NEW
NVDA 11,000 $2M NEW

New Positions

SymbolValue% Port
BAX $40M 5.11%
TDOC $14M 1.76%
CARS $8M 1.04%
GUTS $7M 0.91%
SNDX $6M 0.77%
IAC $4M 0.49%
WIX $3M 0.42%
SGMT $1M 0.17%
0H7R.L $921K 0.12%
DCTH $405K 0.05%
CRTO $373K 0.05%
AGIO $323K 0.04%
ONIT $313K 0.04%
PTHS $251K 0.03%
RARE $235K 0.03%

Sold Out Positions

SymbolValue% Port
MUX —%
SSTK —%
TEVA —%
IAG —%
INSW —%
ODV —%
NUVB —%
AQST —%
CRBU —%
ARWR —%
AKBA —%
QDEL —%
MITT —%
ETNB —%
NGD —%
View SEC EDGAR Filings for Pale Fire Capital SE →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms