Filed: 5/14/2026ACC: 0000921895-26-001322
📋 What this filing means
PALE FIRE CAPITAL SE filed this quarterly 13F‑HR report disclosing 60 equity positions with a total reported market value of $1.14B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
60
Positions
$1.14B
Total AUM (reported)
185.27M
Total Shares
Allocation by class
COM$746.03M65.5%
COM NEW$141.21M12.4%
ORD SHS$134.72M11.8%
SUB VTG SHS$49.50M4.3%
CL A NEW$26.92M2.4%
CL A COM$26.75M2.4%
COM SER 1$7.88M0.7%
Portfolio Concentration
Top 3$571.80M50.2%
4–10$390.68M34.3%
11–25$157.29M13.8%
Rest$18.36M1.6%
Top 3 weight
50.2%
Top 10 weight
84.6%
Voting Authority Distribution
Total shares with voting rights: 185.27M
Sole
Full voting authority
0.00
shares
% of voting shares0.0%
Shared
Joint voting authority
185.27M
shares
% of voting shares100.0%
None
No voting authority
0.00
shares
% of voting shares0.0%
Investment Discretion (by position count)
Sole0
Shared0
Other60
Dominant voting typeShared · 100.0% of voting shares
Institutional Holdings60
Rows:
B2GOLD CORP
DFNDShares69.74M
TypeSH
Market value$315.92M
27.76%
Sole
0.00
Shared
69.74M
None
0.00
DOLE PLC
DFNDShares9.43M
TypeSH
Market value$134.72M
11.84%
Sole
0.00
Shared
9.43M
None
0.00
GROUPON INC
DFNDShares10.18M
TypeSH
Market value$121.15M
10.65%
Sole
0.00
Shared
10.18M
None
0.00
ZIFF DAVIS INC
DFNDShares2.78M
TypeSH
Market value$116.79M
10.26%
Sole
0.00
Shared
2.78M
None
0.00
PHREESIA INC
DFNDShares8.65M
TypeSH
Market value$72.48M
6.37%
Sole
0.00
Shared
8.65M
None
0.00
COURSERA INC
DFNDShares10.51M
TypeSH
Market value$61.18M
5.38%
Sole
0.00
Shared
10.51M
None
0.00
LIGHTSPEED COMMERCE INC
DFNDShares5.52M
TypeSH
Market value$49.50M
4.35%
Sole
0.00
Shared
5.52M
None
0.00
CARS COM INC
DFNDShares3.96M
TypeSH
Market value$32.13M
2.82%
Sole
0.00
Shared
3.96M
None
0.00
I-80 GOLD CORP
DFNDShares20.84M
TypeSH
Market value$31.68M
2.78%
Sole
0.00
Shared
20.84M
None
0.00
ANGI INC
DFNDShares3.93M
TypeSH
Market value$26.92M
2.37%
Sole
0.00
Shared
3.93M
None
0.00
PELOTON INTERACTIVE INC
DFNDShares6.23M
TypeSH
Market value$26.75M
2.35%
Sole
0.00
Shared
6.23M
None
0.00
BAXTER INTL INC
DFNDShares1.58M
TypeSH
Market value$26.59M
2.34%
Sole
0.00
Shared
1.58M
None
0.00
TELADOC HEALTH INC
DFNDShares3.40M
TypeSH
Market value$18.52M
1.63%
Sole
0.00
Shared
3.40M
None
0.00
LIQUIDIA CORPORATION
DFNDShares388.38K
TypeSH
Market value$14.66M
1.29%
Sole
0.00
Shared
388.38K
None
0.00
GALIANO GOLD INC
DFNDShares4M
TypeSH
Market value$10.04M
0.88%
Sole
0.00
Shared
4M
None
0.00
MINERALYS THERAPEUTICS INC
DFNDShares365.63K
TypeSH
Market value$9.90M
0.87%
Sole
0.00
Shared
365.63K
None
0.00
COMMERCE.COM INC
DFNDShares2.95M
TypeSH
Market value$7.88M
0.69%
Sole
0.00
Shared
2.95M
None
0.00
GERON CORP
DFNDShares4.89M
TypeSH
Market value$7.28M
0.64%
Sole
0.00
Shared
4.89M
None
0.00
KURA ONCOLOGY INC
DFNDShares857.47K
TypeSH
Market value$6.97M
0.61%
Sole
0.00
Shared
857.47K
None
0.00
WEAVE COMMUNICATIONS INC
DFNDShares1.49M
TypeSH
Market value$6.90M
0.61%
Sole
0.00
Shared
1.49M
None
0.00
SYNDAX PHARMACEUTICALS INC
DFNDShares284.46K
TypeSH
Market value$6.64M
0.58%
Sole
0.00
Shared
284.46K
None
0.00
UDEMY INC
DFNDShares1.31M
TypeSH
Market value$6.04M
0.53%
Sole
0.00
Shared
1.31M
None
0.00
REGENXBIO INC
DFNDShares493.73K
TypeSH
Market value$4.14M
0.36%
Sole
0.00
Shared
493.73K
None
0.00
FRACTYL HEALTH INC
DFNDShares5.92M
TypeSH
Market value$2.71M
0.24%
Sole
0.00
Shared
5.92M
None
0.00
JOURNEY MED CORP
DFNDShares481.99K
TypeSH
Market value$2.26M
0.20%
Sole
0.00
Shared
481.99K
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
B2GOLD CORPDFND | COM | 69.74M | SH | $315.92M 27.76% | 0.00 | 69.74M | 0.00 |
DOLE PLCDFND | ORD SHS | 9.43M | SH | $134.72M 11.84% | 0.00 | 9.43M | 0.00 |
GROUPON INCDFND | COM NEW | 10.18M | SH | $121.15M 10.65% | 0.00 | 10.18M | 0.00 |
ZIFF DAVIS INCDFND | COM | 2.78M | SH | $116.79M 10.26% | 0.00 | 2.78M | 0.00 |
PHREESIA INCDFND | COM | 8.65M | SH | $72.48M 6.37% | 0.00 | 8.65M | 0.00 |
COURSERA INCDFND | COM | 10.51M | SH | $61.18M 5.38% | 0.00 | 10.51M | 0.00 |
LIGHTSPEED COMMERCE INCDFND | SUB VTG SHS | 5.52M | SH | $49.50M 4.35% | 0.00 | 5.52M | 0.00 |
CARS COM INCDFND | COM | 3.96M | SH | $32.13M 2.82% | 0.00 | 3.96M | 0.00 |
I-80 GOLD CORPDFND | COM | 20.84M | SH | $31.68M 2.78% | 0.00 | 20.84M | 0.00 |
ANGI INCDFND | CL A NEW | 3.93M | SH | $26.92M 2.37% | 0.00 | 3.93M | 0.00 |
PELOTON INTERACTIVE INCDFND | CL A COM | 6.23M | SH | $26.75M 2.35% | 0.00 | 6.23M | 0.00 |
BAXTER INTL INCDFND | COM | 1.58M | SH | $26.59M 2.34% | 0.00 | 1.58M | 0.00 |
TELADOC HEALTH INCDFND | COM | 3.40M | SH | $18.52M 1.63% | 0.00 | 3.40M | 0.00 |
LIQUIDIA CORPORATIONDFND | COM NEW | 388.38K | SH | $14.66M 1.29% | 0.00 | 388.38K | 0.00 |
GALIANO GOLD INCDFND | COM | 4M | SH | $10.04M 0.88% | 0.00 | 4M | 0.00 |
MINERALYS THERAPEUTICS INCDFND | COM | 365.63K | SH | $9.90M 0.87% | 0.00 | 365.63K | 0.00 |
COMMERCE.COM INCDFND | COM SER 1 | 2.95M | SH | $7.88M 0.69% | 0.00 | 2.95M | 0.00 |
GERON CORPDFND | COM | 4.89M | SH | $7.28M 0.64% | 0.00 | 4.89M | 0.00 |
KURA ONCOLOGY INCDFND | COM | 857.47K | SH | $6.97M 0.61% | 0.00 | 857.47K | 0.00 |
WEAVE COMMUNICATIONS INCDFND | COM | 1.49M | SH | $6.90M 0.61% | 0.00 | 1.49M | 0.00 |
SYNDAX PHARMACEUTICALS INCDFND | COM | 284.46K | SH | $6.64M 0.58% | 0.00 | 284.46K | 0.00 |
UDEMY INCDFND | COM | 1.31M | SH | $6.04M 0.53% | 0.00 | 1.31M | 0.00 |
REGENXBIO INCDFND | COM | 493.73K | SH | $4.14M 0.36% | 0.00 | 493.73K | 0.00 |
FRACTYL HEALTH INCDFND | COM | 5.92M | SH | $2.71M 0.24% | 0.00 | 5.92M | 0.00 |
JOURNEY MED CORPDFND | COM | 481.99K | SH | $2.26M 0.20% | 0.00 | 481.99K | 0.00 |
Page 1 of 3