Pale Fire Capital SE
Net buyer this quarter
$1.41B
71
+$94M
82.2%
Holdings
| Company | Value | % of portfolio | % of company | POSITION CHANGE qoq % | First reported |
|---|---|---|---|---|---|
| Q2 2026 | |||||
 GRPN | $245M | 17.32% | 25.11% | Not reported | Q4 2022 |
 BTG | $241M | 17.07% | 4.82% | -7.4% | Q2 2024 |
 ZD | $139M | 9.85% | 7.61% | -4.4% | Q1 2025 |
 DOLE | $129M | 9.15% | 9.98% | Not reported | Q4 2022 |
 COUR | $115M | 8.15% | 7.44% | +94.4% | Q1 2025 |
 PHR | $91.8M | 6.49% | 14.44% | +3.2% | Q1 2026 |
 LSPD | $60.6M | 4.28% | 4.19% | +4.5% | Q1 2026 |
 BABA | $49.8M | 3.52% | 0.03% | Not reported | Q3 2023 |
 PTON | $45.7M | 3.23% | Not reported | +24.0% | Q1 2026 |
 CARS | $43.8M | 3.10% | 7.43% | +1.3% | Q4 2025 |
 IAUX | $27.1M | 1.92% | 2.17% | -9.8% | Q2 2024 |
 T | $23.6M | 1.67% | 0.02% | Not reported | Q2 2024 |
 ANGI | $23.4M | 1.65% | Not reported | Not reported | Q1 2023 |
 TDOC | $16.7M | 1.18% | 1.09% | -41.9% | Q4 2023 |
 MLYS | $16.6M | 1.17% | 0.70% | +68.0% | Q4 2023 |
 ORCL | $14.9M | 1.06% | 0.00% | New | Q2 2026 |
 CARG | $13.1M | 0.93% | Not reported | Not reported | Q4 2023 |
 GDDY | $10.8M | 0.76% | 0.10% | New | Q2 2026 |
 NU | $9.83M | 0.70% | Not reported | New | Q2 2026 |
 GAU | $9.42M | 0.67% | 1.94% | +25.9% | Q1 2025 |
 TME | $9.14M | 0.65% | 0.03% | New | Q2 2026 |
 CMRC | $9.04M | 0.64% | 3.70% | +3.5% | Q3 2025 |
 WEAV | $8.94M | 0.63% | 1.87% | Not reported | Q1 2026 |
 GERN | $6.79M | 0.48% | 0.83% | +8.6% | Q3 2025 |
 RGNX | $5.59M | 0.39% | 0.86% | -5.6% | Q4 2024 |
 DOCU | $4.8M | 0.34% | 0.06% | New | Q2 2026 |
 GUTS | $3.97M | 0.28% | 3.15% | -15.5% | Q4 2025 |
 DERM | $3.74M | 0.26% | 4.57% | +9.7% | Q1 2025 |
 SNDX | $2.74M | 0.19% | 0.14% | -55.9% | Q4 2025 |
 SPT | $2.6M | 0.18% | Not reported | Not reported | Q1 2026 |
 ITRG | $2.39M | 0.17% | 0.58% | New | Q2 2026 |
 DV | $2.39M | 0.17% | 0.14% | +99.4% | Q1 2026 |
 SGMT | $1.72M | 0.12% | 0.72% | Not reported | Q4 2024 |
 HRTX | $1.07M | 0.08% | 1.33% | -7.5% | Q3 2025 |
 HELP | $1.01M | 0.07% | 0.30% | Not reported | Q4 2024 |
 PESI | $795K | 0.06% | 0.26% | +14.4% | Q1 2025 |
 RPD | $642K | 0.05% | 0.12% | Not reported | Q1 2026 |
 KURA | $621K | 0.04% | 0.06% | -93.4% | Q3 2023 |
 TARS | $617K | 0.04% | 0.02% | +73.4% | Q3 2025 |
 GPRK | $576K | 0.04% | 0.12% | +194.4% | Q1 2026 |
 RIGL | $558K | 0.04% | 0.08% | Not reported | Q1 2026 |
 RARE | $551K | 0.04% | 0.02% | Not reported | Q2 2025 |
 PHAT | $539K | 0.04% | 0.06% | New | Q2 2026 |
 ABEO | $506K | 0.04% | 0.14% | +17.3% | Q4 2025 |
 DCTH | $505K | 0.04% | 0.12% | Not reported | Q4 2025 |
 ONIT | $470K | 0.03% | 0.14% | +20.3% | Q4 2025 |
 SLM | $449K | 0.03% | 0.01% | New | Q2 2026 |
 HROW | $447K | 0.03% | 0.03% | +23.5% | Q1 2025 |
 THC | $374K | 0.03% | 0.00% | New | Q2 2026 |
 GPN | $366K | 0.03% | 0.00% | New | Q2 2026 |
| Q1 2026 | |||||
| BTG | $316M | 27.76% | 5.20% | +77.4% | Q2 2024 |
| DOLE | $135M | 11.84% | 9.91% | +0.6% | Q4 2022 |
| GRPN | $121M | 10.65% | 26.21% | Not reported | Q4 2022 |
| ZD | $117M | 10.26% | 7.44% | +130.0% | Q1 2025 |
| PHR | $72.5M | 6.37% | 14.23% | New | Q1 2026 |
| COUR | $61.2M | 5.38% | 6.21% | Not reported | Q1 2025 |
| LSPD | $49.5M | 4.35% | 4.01% | New | Q1 2026 |
| CARS | $32.1M | 2.82% | 6.92% | +498.1% | Q4 2025 |
| IAUX | $31.7M | 2.78% | 2.44% | +0.9% | Q2 2024 |
| ANGI | $26.9M | 2.37% | Not reported | +82.6% | Q1 2023 |
| PTON | $26.7M | 2.35% | Not reported | New | Q1 2026 |
 BAX | $26.6M | 2.34% | 0.31% | -23.7% | Q4 2025 |
| TDOC | $18.5M | 1.63% | 1.88% | +74.8% | Q4 2023 |
 LQDA | $14.7M | 1.29% | 0.44% | +2.4% | Q2 2025 |
| GAU | $10M | 0.88% | 1.54% | -49.5% | Q1 2025 |
| MLYS | $9.9M | 0.87% | 0.44% | +3431.3% | Q4 2023 |
| CMRC | $7.88M | 0.69% | 3.59% | +294.2% | Q3 2025 |
| GERN | $7.28M | 0.64% | 0.76% | +2.1% | Q3 2025 |
| KURA | $6.97M | 0.61% | 0.97% | +89.6% | Q3 2023 |
| WEAV | $6.9M | 0.61% | 1.88% | New | Q1 2026 |
| SNDX | $6.64M | 0.58% | 0.32% | Not reported | Q4 2025 |
| UDMY | $6.04M | 0.53% | 0.90% | New | Q1 2026 |
| RGNX | $4.14M | 0.36% | 0.96% | -1.2% | Q4 2024 |
| GUTS | $2.71M | 0.24% | 3.73% | +84.5% | Q4 2025 |
| DERM | $2.26M | 0.20% | 4.17% | +8.4% | Q1 2025 |
| HRTX | $2.17M | 0.19% | 1.44% | +84.8% | Q3 2025 |
 PPLI | $2.17M | 0.19% | Not reported | -43.8% | Q2 2023 |
| SPT | $1.96M | 0.17% | Not reported | New | Q1 2026 |
| SGMT | $1.16M | 0.10% | 0.72% | Not reported | Q4 2024 |
| DV | $1.05M | 0.09% | 0.07% | New | Q1 2026 |
| HELP | $737K | 0.06% | 0.30% | Not reported | Q4 2024 |
 XFOR | $692K | 0.06% | 0.18% | Not reported | Q1 2024 |
| PESI | $520K | 0.05% | 0.26% | +12.5% | Q1 2025 |
 AGIO | $462K | 0.04% | 0.02% | +15.2% | Q4 2025 |
 SM | $458K | 0.04% | 0.01% | New | Q1 2026 |
| RPD | $437K | 0.04% | 0.12% | New | Q1 2026 |
 EXFY | $418K | 0.04% | 1.33% | New | Q1 2026 |
 KOS | $403K | 0.04% | 0.03% | New | Q1 2026 |
| TARS | $396K | 0.03% | 0.01% | +130.5% | Q3 2025 |
| ONIT | $386K | 0.03% | 0.12% | +43.9% | Q4 2025 |
| RIGL | $385K | 0.03% | 0.08% | New | Q1 2026 |
| DCTH | $372K | 0.03% | 0.12% | Not reported | Q4 2025 |
| RARE | $346K | 0.03% | 0.02% | +61.7% | Q2 2025 |
| ABEO | $313K | 0.03% | 0.12% | -60.0% | Q4 2025 |
| HROW | $300K | 0.03% | 0.02% | -27.8% | Q1 2025 |
| SLNO | $283K | 0.02% | 0.02% | New | Q1 2026 |
 PTHS | $271K | 0.02% | 0.38% | +59.5% | Q4 2025 |
 KSPI | $267K | 0.02% | 0.00% | New | Q1 2026 |
 TOST | $265K | 0.02% | 0.00% | New | Q1 2026 |
 MRX | $239K | 0.02% | 0.01% | New | Q1 2026 |
| Q4 2025 | |||||
| GRPN | $179M | 12.03% | 25.00% | Not reported | Q4 2022 |
| BTG | $177M | 11.90% | 2.93% | -21.4% | Q2 2024 |
| DOLE | $140M | 9.43% | 9.85% | +9.1% | Q4 2022 |
| ZD | $42.5M | 2.85% | 3.15% | +201.1% | Q1 2025 |
| BAX | $39.6M | 2.66% | 0.40% | New | Q4 2025 |
| IAUX | $30.2M | 2.03% | 2.50% | -8.2% | Q2 2024 |
| ANGI | $27.8M | 1.87% | Not reported | +57.3% | Q1 2023 |
| GAU | $20M | 1.34% | 3.05% | +18.9% | Q1 2025 |
| TDOC | $13.6M | 0.91% | 1.09% | Not reported | Q4 2023 |
| LQDA | $13.1M | 0.88% | 0.44% | +57.6% | Q2 2025 |
 CGAU | $8.5M | 0.57% | 0.30% | -74.7% | Q4 2022 |
| CARS | $8.07M | 0.54% | 1.13% | New | Q4 2025 |
| RGNX | $7.19M | 0.48% | 0.98% | +95.4% | Q4 2024 |
| GUTS | $7.06M | 0.47% | 2.09% | New | Q4 2025 |
 TEN | $6.63M | 0.45% | 0.98% | -13.1% | Q2 2023 |
| GERN | $6.32M | 0.42% | 0.75% | +109.9% | Q3 2025 |
| SNDX | $5.98M | 0.40% | 0.33% | New | Q4 2025 |
 TECX | $5.45M | 0.37% | 1.39% | +0.5% | Q3 2025 |
| DAWN | $5.07M | 0.34% | 0.53% | +79.9% | Q4 2024 |
| KURA | $4.7M | 0.32% | 0.51% | -25.6% | Q3 2023 |
| PPLI | $3.77M | 0.25% | Not reported | Not reported | Q2 2023 |
| DERM | $3.43M | 0.23% | 3.85% | +94.5% | Q1 2025 |
 WIX | $3.22M | 0.22% | 0.06% | New | Q4 2025 |
| CMRC | $3.09M | 0.21% | 0.92% | +150.8% | Q3 2025 |
| HRTX | $1.91M | 0.13% | 0.78% | +211.9% | Q3 2025 |
| SGMT | $1.31M | 0.09% | 0.72% | Not reported | Q4 2024 |
| HELP | $1.26M | 0.08% | 0.71% | Not reported | Q4 2024 |
| ABEO | $921K | 0.06% | 0.32% | New | Q4 2025 |
 AGRO | $671K | 0.05% | 0.06% | Not reported | Q2 2025 |
| XFOR | $670K | 0.04% | 0.18% | -7.3% | Q1 2024 |
 LFCR | $581K | 0.04% | 0.19% | +9.9% | Q2 2025 |
| HROW | $577K | 0.04% | 0.03% | +45.6% | Q1 2025 |
| PESI | $544K | 0.04% | 0.23% | -4.5% | Q1 2025 |
| DCTH | $405K | 0.03% | 0.12% | New | Q4 2025 |
| MLYS | $376K | 0.03% | 0.01% | -98.1% | Q4 2023 |
 CRTO | $373K | 0.03% | 0.04% | Not reported | Q4 2023 |
| AGIO | $323K | 0.02% | 0.02% | New | Q4 2025 |
| ONIT | $313K | 0.02% | 0.08% | New | Q4 2025 |
| PTHS | $251K | 0.02% | 0.25% | New | Q4 2025 |
| RARE | $235K | 0.02% | 0.01% | Not reported | Q2 2025 |
 LXEO | $221K | 0.01% | 0.03% | -33.7% | Q4 2024 |
 ENGN | $217K | 0.01% | 0.04% | +39.1% | Q4 2024 |
 RLMD | $215K | 0.01% | 0.06% | New | Q4 2025 |
 VZLA | $209K | 0.01% | 0.01% | +24.3% | Q1 2025 |
| TARS | $201K | 0.01% | 0.01% | -65.3% | Q3 2025 |
 CGEM | $200K | 0.01% | 0.03% | +32.2% | Q3 2025 |
 ANNX | $194K | 0.01% | 0.03% | New | Q4 2025 |
 LRMR | $172K | 0.01% | 0.05% | Not reported | Q3 2023 |
 IMTX | $171K | 0.01% | 0.01% | -52.5% | Q2 2024 |
 PALI | $166K | 0.01% | 0.04% | New | Q4 2025 |
| Q3 2025 | |||||
| BTG | $248M | 27.10% | 3.79% | -23.9% | Q2 2024 |
| GRPN | $238M | 26.02% | 24.98% | Not reported | Q4 2022 |
| DOLE | $115M | 12.63% | 9.02% | +39.1% | Q4 2022 |
 IAG | $50.8M | 5.56% | 0.69% | +197.6% | Q2 2025 |
 TEVA | $34.1M | 3.74% | 0.15% | +60.8% | Q2 2025 |
| CGAU | $25.1M | 2.74% | 1.11% | -32.6% | Q4 2022 |
| ANGI | $22.3M | 2.44% | Not reported | +5.9% | Q1 2023 |
| IAUX | $21.5M | 2.36% | 2.76% | +5.9% | Q2 2024 |
| MLYS | $20.2M | 2.21% | 0.67% | +19.2% | Q4 2023 |
| ZD | $15.3M | 1.68% | 1.00% | +17.2% | Q1 2025 |
| GAU | $14.6M | 1.60% | 2.59% | +10.7% | Q1 2025 |
| TEN | $7.57M | 0.83% | 1.13% | -5.5% | Q2 2023 |
| LQDA | $5.47M | 0.60% | 0.28% | +180.9% | Q2 2025 |
| KURA | $5.38M | 0.59% | 0.70% | +2923.8% | Q3 2023 |
 NUVB | $5.35M | 0.59% | 0.43% | +1410.5% | Q4 2024 |
| TECX | $4.08M | 0.45% | 1.39% | New | Q3 2025 |
 INSW | $3.5M | 0.38% | 0.15% | -71.7% | Q1 2023 |
 SSTK | $3.22M | 0.35% | 0.43% | Not reported | Q3 2024 |
| GERN | $3.13M | 0.34% | 0.36% | New | Q3 2025 |
| RGNX | $2.47M | 0.27% | 0.51% | +817.9% | Q4 2024 |
| DAWN | $2.13M | 0.23% | 0.29% | +768.1% | Q4 2024 |
 CRBU | $1.81M | 0.20% | 0.83% | Not reported | Q4 2023 |
| ADVM | $1.65M | 0.18% | 1.73% | +1.3% | Q3 2024 |
| DERM | $1.63M | 0.18% | 1.98% | +604.2% | Q1 2025 |
| CMRC | $1.49M | 0.16% | 0.37% | New | Q3 2025 |
| HELP | $904K | 0.10% | 0.71% | +36.1% | Q4 2024 |
| AGRO | $664K | 0.07% | 0.08% | Not reported | Q2 2025 |
| XFOR | $619K | 0.07% | 0.72% | +201.2% | Q1 2024 |
| HRTX | $594K | 0.06% | 0.31% | New | Q3 2025 |
 QDEL | $536K | 0.06% | 0.03% | New | Q3 2025 |
 AQST | $521K | 0.06% | 0.08% | -94.4% | Q3 2024 |
| LFCR | $476K | 0.05% | 0.17% | +110.6% | Q2 2025 |
| PESI | $457K | 0.05% | 0.25% | +76.2% | Q1 2025 |
| TARS | $420K | 0.05% | 0.02% | New | Q3 2025 |
| ETNB | $395K | 0.04% | 0.02% | +1.2% | Q4 2024 |
 RZLT | $394K | 0.04% | 0.05% | -14.7% | Q3 2024 |
| HROW | $390K | 0.04% | 0.02% | -6.8% | Q1 2025 |
 ARWR | $349K | 0.04% | 0.01% | -25.4% | Q1 2025 |
| IMTX | $292K | 0.03% | 0.03% | Not reported | Q2 2024 |
| LXEO | $223K | 0.02% | 0.06% | +21.7% | Q4 2024 |
 MITT | $222K | 0.02% | 0.10% | -40.0% | Q3 2024 |
 MUX | $217K | 0.02% | 0.02% | +2.8% | Q2 2025 |
 BHVN | $155K | 0.02% | 0.01% | Not reported | Q3 2024 |
| LRMR | $146K | 0.02% | 0.05% | +20.5% | Q3 2023 |
 AKBA | $137K | 0.02% | 0.02% | New | Q3 2025 |
| VZLA | $133K | 0.01% | 0.01% | -20.8% | Q1 2025 |
| ENGN | $118K | 0.01% | 0.03% | Not reported | Q4 2024 |
| CGEM | $86.7K | 0.01% | 0.02% | New | Q3 2025 |
 NEWP | $70.4K | 0.01% | 0.02% | -61.6% | Q3 2024 |