13F HOLDINGS REPORT
Pale Fire Capital SE
Quarter ended Q4 2025 · Filed February 13, 2026 · Accession 0000921895-26-000378
Total Value
$1.49B
Positions
60
Other Managers
3
Confidential Omitted
No
Holdings (60)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | COINBASE GLOBAL INC | COIN | 1,271,800 | $287.6M | 19.30% |
| 2 | TESLA INC | TSLA | 520,000 | $233.9M | 15.70% |
| 3 | ROBINHOOD MKTS INC | 770700102 | 1,656,000 | $187.3M | 12.57% |
| 4 | GROUPON INC | GRPN | 10,181,070 | $179.3M | 12.03% |
| 5 | B2GOLD CORP | BTG | 39,311,603 | $177.3M | 11.90% |
| 6 | DOLE PLC | DOLE | 9,372,776 | $140.5M | 9.43% |
| 7 | ZIFF DAVIS INC | ZD | 1,209,952 | $42.5M | 2.85% |
| 8 | BAXTER INTL INC | 071813109 | 2,074,016 | $39.6M | 2.66% |
| 9 | I-80 GOLD CORP | IAUX-WT | 20,668,315 | $30.2M | 2.03% |
| 10 | ANGI INC | ANGI | 2,152,919 | $27.8M | 1.87% |
| 11 | GALIANO GOLD INC | GAU | 7,914,409 | $20.0M | 1.34% |
| 12 | TELADOC HEALTH INC | TDOC | 1,944,203 | $13.6M | 0.91% |
| 13 | LIQUIDIA CORPORATION | LQDA | 379,392 | $13.1M | 0.88% |
| 14 | CENTERRA GOLD INC | CGAU | 591,222 | $8.5M | 0.57% |
| 15 | CARS COM INC | CARS | 661,501 | $8.1M | 0.54% |
| 16 | REGENXBIO INC | RGNX | 499,526 | $7.2M | 0.48% |
| 17 | FRACTYL HEALTH INC | GUTS | 3,209,942 | $7.1M | 0.47% |
| 18 | TSAKOS ENERGY NAVIGATION LTD | TEN-PF | 295,909 | $6.6M | 0.45% |
| 19 | GERON CORP | GERN | 4,788,594 | $6.3M | 0.42% |
| 20 | SYNDAX PHARMACEUTICALS INC | SNDX | 284,460 | $6.0M | 0.40% |
| 21 | TECTONIC THERAPEUTIC INC | TECX | 261,026 | $5.4M | 0.37% |
| 22 | DAY ONE BIOPHARMACEUTICALS I | DAWN | 544,063 | $5.1M | 0.34% |
| 23 | KURA ONCOLOGY INC | KURA | 452,245 | $4.7M | 0.32% |
| 24 | IAC INC | IAC | 96,507 | $3.8M | 0.25% |
| 25 | JOURNEY MED CORP | DERM | 444,642 | $3.4M | 0.23% |
| 26 | ISHARES TR | 464287101 | 19,600 | $3.3M | 0.22% |
| 27 | WIX COM LTD | WIX | 31,000 | $3.2M | 0.22% |
| 28 | COMMERCE.COM INC | CMRC | 748,925 | $3.1M | 0.21% |
| 29 | NVIDIA CORPORATION | NVDA | 11,000 | $2.1M | 0.14% |
| 30 | HERON THERAPEUTICS INC | HRTX | 1,469,655 | $1.9M | 0.13% |
| 31 | SAGIMET BIOSCIENCES INC | SGMT | 221,875 | $1.3M | 0.09% |
| 32 | CYBIN INC | HELP | 153,505 | $1.3M | 0.08% |
| 33 | ABEONA THERAPEUTICS INC | ABEO | 174,705 | $920,695 | 0.06% |
| 34 | ADECOAGRO S A | AGRO | 84,637 | $671,171 | 0.05% |
| 35 | X4 PHARMACEUTICALS INC | XFOR | 167,590 | $670,360 | 0.04% |
| 36 | LIFECORE BIOMEDICAL INC | LFCR | 71,040 | $581,107 | 0.04% |
| 37 | HARROW INC | HROW | 11,785 | $577,465 | 0.04% |
| 38 | PERMA-FIX ENVIRONMENTAL SVCS | 714157203 | 43,220 | $544,140 | 0.04% |
| 39 | DELCATH SYS INC | DCTH | 40,085 | $404,859 | 0.03% |
| 40 | MINERALYS THERAPEUTICS INC | MLYS | 10,354 | $375,747 | 0.03% |
| 41 | CRITEO S A | CRTO | 18,097 | $372,979 | 0.03% |
| 42 | AGIOS PHARMACEUTICALS INC | AGIO | 11,850 | $322,557 | 0.02% |
| 43 | ONITY GROUP INC | ONIT | 6,833 | $312,883 | 0.02% |
| 44 | PELTHOS THERAPEUTICS INC | PTHS | 8,100 | $251,100 | 0.02% |
| 45 | ULTRAGENYX PHARMACEUTICAL IN | RARE | 10,211 | $234,853 | 0.02% |
| 46 | LEXEO THERAPEUTICS INC | LXEO | 22,302 | $221,459 | 0.01% |
| 47 | ENGENE HOLDINGS INC | ENGNW | 24,004 | $216,756 | 0.01% |
| 48 | RELMADA THERAPEUTICS INC | RLMD | 44,550 | $215,177 | 0.01% |
| 49 | VIZSLA SILVER CORP | VZLA | 38,201 | $208,959 | 0.01% |
| 50 | TARSUS PHARMACEUTICALS INC | TARS | 2,452 | $200,770 | 0.01% |
| 51 | CULLINAN THERAPEUTICS INC | CGEM | 19,318 | $199,941 | 0.01% |
| 52 | ANNEXON INC | ANNX | 38,600 | $193,772 | 0.01% |
| 53 | ATAI BECKLEY NV | N0731H103 | 45,811 | $187,367 | 0.01% |
| 54 | LARIMAR THERAPEUTICS INC | LRMR | 45,218 | $172,281 | 0.01% |
| 55 | IMMATICS N.V | IMTX | 16,272 | $170,856 | 0.01% |
| 56 | PALISADE BIO INC | PALI | 70,710 | $166,169 | 0.01% |
| 57 | CORBUS PHARMACEUTICALS HLDGS | CRBP | 18,650 | $151,811 | 0.01% |
| 58 | NOVOCURE LTD | NVCR | 10,723 | $138,648 | 0.01% |
| 59 | NEW PAC METALS CORP | 64782A107 | 28,477 | $99,954 | 0.01% |
| 60 | REZOLUTE INC | RZLT | 33,519 | $79,105 | 0.01% |