Pale Fire Capital SE’s B2Gold BTG Stock Holding History

Pale Fire Capital SE’s Portfolio BTG Stock Details BTG Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2026 Q2	$241M	Sell	64,560,777 -5,179,356	-7%	-$23.8M	17.07%	2
2026 Q1	$316M	Buy	69,740,133 +30,428,530	+77%	+$153M	27.76%	1
2025 Q4	$177M	Sell	39,311,603 -10,704,306	-21%	-$49.9M	11.9%	5
2025 Q3	$248M	Sell	50,015,909 -15,745,000	-24%	-$61.9M	27.1%	1
2025 Q2	$237M	Buy	65,760,909 +922,500	+1%	+$3.03M	24.36%	2
2025 Q1	$185M	Buy	64,838,409 +12,419,383	+24%	+$33.3M	21.96%	2
2024 Q4	$128M	Buy	52,419,026 +35,232,947	+205%	+$103M	29.02%	1
2024 Q3	$52.9M	Sell	17,186,079 -2,141,639	-11%	-$6.22M	8.3%	4
2024 Q2	$52.2M	Buy	+19,327,718	New	+$52.2M	5.88%	6

Other funds holding BTG

VanEck Associates New York $164B AUM 112.45% 1-Year Est. Return

L1 Capital Melbourne VIC 3000, Australia $2.97B AUM 43.46% 1-Year Est. Return

American Century Companies Kansas City, Missouri $226B AUM 44.75% 1-Year Est. Return

Vanguard Capital Management Malvern, Pennsylvania $4.68T AUM

Two Sigma Investments New York $138B AUM 41.87% 1-Year Est. Return

Dimensional Fund Advisors Austin, Texas $552B AUM 44.19% 1-Year Est. Return

Connor, Clark & Lunn Investment Management (CC&L) Vancouver, British Columbia, Canada $52.8B AUM 58.98% 1-Year Est. Return

Millennium Management New York $276B AUM 44.8% 1-Year Est. Return

D.E. Shaw & Co New York $210B AUM 57.28% 1-Year Est. Return

Goldman Sachs New York $1.15T AUM 47.82% 1-Year Est. Return

Pale Fire Capital SE's BTG Position: Q2 2026 in Review

Pale Fire Capital SE reduced its B2Gold (BTG) stake by 7.4% in Q2 2026, selling an estimated $23.8M and leaving 64,560,777 shares worth $241M. The position accounts for 17.07% of the portfolio, ranked #2.

Pale Fire Capital SE first reported a position in BTG in Q2 2024 and has held it in 9 quarters since. The position peaked at $316M in Q1 2026. 304 funds tracked by Wall St. Rank hold BTG as of Q2 2026.

Pale Fire Capital SE held 64,560,777 shares of B2Gold worth $241M as of Q2 2026.
Pale Fire Capital SE sold 5,179,356 B2Gold shares in Q2 2026, an estimated $23.8M.
B2Gold made up 17.07% of Pale Fire Capital SE's portfolio in Q2 2026, its #2 holding.
Pale Fire Capital SE first reported a position in B2Gold in Q2 2024 and has held it in 9 quarters since.
Pale Fire Capital SE's B2Gold position peaked at $316M in Q1 2026.
304 funds tracked by Wall St. Rank held B2Gold as of Q2 2026.

Based on Pale Fire Capital SE's 13F filing for Q2 2026, filed 13 Aug 2026.