13F HOLDINGS REPORT
Pale Fire Capital SE
Quarter ended Q3 2025 · Filed November 13, 2025 · Accession 0000921895-25-003010
Total Value
$913.5M
Positions
54
Other Managers
3
Confidential Omitted
No
Holdings (54)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | B2GOLD CORP | BTG | 50,015,909 | $247.6M | 27.10% |
| 2 | GROUPON INC | GRPN | 10,181,070 | $237.7M | 26.02% |
| 3 | DOLE PLC | DOLE | 8,588,077 | $115.4M | 12.63% |
| 4 | IAMGOLD CORP | IAG | 3,930,998 | $50.8M | 5.56% |
| 5 | NEW GOLD INC CDA | 644535106 | 6,211,037 | $44.6M | 4.88% |
| 6 | TEVA PHARMACEUTICAL INDS LTD | 881624209 | 1,689,811 | $34.1M | 3.74% |
| 7 | CENTERRA GOLD INC | CGAU | 2,335,878 | $25.1M | 2.74% |
| 8 | ANGI INC | ANGI | 1,368,478 | $22.3M | 2.44% |
| 9 | I-80 GOLD CORP | IAUX-WT | 22,518,159 | $21.5M | 2.36% |
| 10 | MINERALYS THERAPEUTICS INC | MLYS | 532,407 | $20.2M | 2.21% |
| 11 | ZIFF DAVIS INC | ZD | 401,825 | $15.3M | 1.68% |
| 12 | GALIANO GOLD INC | GAU | 6,655,735 | $14.6M | 1.60% |
| 13 | TSAKOS ENERGY NAVIGATION LTD | TEN-PF | 340,619 | $7.6M | 0.83% |
| 14 | ATAI LIFE SCIENCES NV | N0731H103 | 1,080,768 | $5.7M | 0.63% |
| 15 | LIQUIDIA CORPORATION | LQDA | 240,721 | $5.5M | 0.60% |
| 16 | KURA ONCOLOGY INC | KURA | 607,790 | $5.4M | 0.59% |
| 17 | NUVATION BIO INC | NUVB | 1,444,647 | $5.3M | 0.59% |
| 18 | TECTONIC THERAPEUTIC INC | TECX | 259,726 | $4.1M | 0.45% |
| 19 | INTERNATIONAL SEAWAYS INC | INSW | 76,059 | $3.5M | 0.38% |
| 20 | SHUTTERSTOCK INC | SSTK | 154,278 | $3.2M | 0.35% |
| 21 | GERON CORP | GERN | 2,281,754 | $3.1M | 0.34% |
| 22 | REGENXBIO INC | RGNX | 255,601 | $2.5M | 0.27% |
| 23 | DAY ONE BIOPHARMACEUTICALS I | DAWN | 302,467 | $2.1M | 0.23% |
| 24 | CARIBOU BIOSCIENCES INC | CRBU | 775,055 | $1.8M | 0.20% |
| 25 | ADVERUM BIOTECHNOLOGIES INC | 00773U207 | 363,282 | $1.6M | 0.18% |
| 26 | JOURNEY MED CORP | DERM | 228,567 | $1.6M | 0.18% |
| 27 | COMMERCE.COM INC | CMRC | 298,631 | $1.5M | 0.16% |
| 28 | CYBIN INC | HELP | 153,505 | $904,144 | 0.10% |
| 29 | ADECOAGRO S A | AGRO | 84,637 | $663,554 | 0.07% |
| 30 | SPDR INDEX SHS FDS | 78463X952 | 10,000 | $621,200 | 0.07% |
| 31 | X4 PHARMACEUTICALS INC | XFOR | 180,851 | $618,510 | 0.07% |
| 32 | HERON THERAPEUTICS INC | HRTX | 471,190 | $593,699 | 0.06% |
| 33 | NVIDIA CORPORATION | NVDA | 3,000 | $559,740 | 0.06% |
| 34 | QUIDELORTHO CORP | QDEL | 18,209 | $536,255 | 0.06% |
| 35 | AQUESTIVE THERAPEUTICS INC | AQST | 93,132 | $520,608 | 0.06% |
| 36 | LIFECORE BIOMEDICAL INC | LFCR | 64,620 | $475,603 | 0.05% |
| 37 | PERMA-FIX ENVIRONMENTAL SVCS | 714157203 | 45,270 | $457,227 | 0.05% |
| 38 | TARSUS PHARMACEUTICALS INC | TARS | 7,075 | $420,467 | 0.05% |
| 39 | 89BIO INC | 282559103 | 26,903 | $395,474 | 0.04% |
| 40 | REZOLUTE INC | RZLT | 41,922 | $394,067 | 0.04% |
| 41 | HARROW INC | HROW | 8,093 | $389,921 | 0.04% |
| 42 | ARROWHEAD PHARMACEUTICALS IN | ARWR | 10,123 | $349,142 | 0.04% |
| 43 | IMMATICS N.V | IMTX | 34,270 | $291,980 | 0.03% |
| 44 | LEXEO THERAPEUTICS INC | LXEO | 33,650 | $223,436 | 0.02% |
| 45 | AG MTG INVT TR INC | TPGXL | 30,728 | $222,471 | 0.02% |
| 46 | MCEWEN INC. | MUX | 12,695 | $217,085 | 0.02% |
| 47 | BIOHAVEN LTD | BHVN | 10,344 | $155,263 | 0.02% |
| 48 | LARIMAR THERAPEUTICS INC | LRMR | 45,218 | $146,054 | 0.02% |
| 49 | AKEBIA THERAPEUTICS INC | AKBA | 50,210 | $137,073 | 0.02% |
| 50 | VIZSLA SILVER CORP | VZLA | 30,728 | $132,745 | 0.01% |
| 51 | ENGENE HOLDINGS INC | ENGNW | 17,254 | $117,845 | 0.01% |
| 52 | CULLINAN THERAPEUTICS INC | CGEM | 14,615 | $86,667 | 0.01% |
| 53 | OSISKO DEVELOPMENT CORP | OSDVF | 21,133 | $71,641 | 0.01% |
| 54 | NEW PAC METALS CORP | 64782A107 | 25,978 | $70,400 | 0.01% |