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PFCS

Pale Fire Capital SE Portfolio holdings

AUM $1.14B
1-Year Est. Return 42.87%
This Fund
S&P 500
This Quarter Est. Return
+23.87%
1 Year Est. Return
+42.87%
3 Year Est. Return
+176.09%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$842M
AUM Growth
+$401M
Cap. Flow
+$298M
Cap. Flow %
35.36%
Top 10 Hldgs %
89.91%
Holding
70
New
19
Increased
27
Reduced
11
Closed
8

Top Buys

Rank Stock Value
1
B
Barrick Mining
B
+$131M
2
HL icon
Hecla Mining
HL
+$41.3M
3
BTG icon
B2Gold
BTG
+$33.3M
4
CDE icon
Coeur Mining
CDE
+$30.4M
5
NGD
New Gold Inc
NGD
+$19.1M

Top Sells

Rank Stock Value
1
INSW icon
International Seaways
INSW
+$8.81M
2
TEN
Tsakos Energy Navigation Ltd
TEN
+$2.2M
3
NMM icon
Navios Maritime Partners
NMM
+$2.12M
4
QURE icon
uniQure
QURE
+$1.66M
5
SSTK icon
Shutterstock
SSTK
+$1.2M

Sector Composition

Rank Sector Weight
1 Materials 56.89%
2 Communication Services 24.83%
3 Consumer Staples 10.77%
4 Healthcare 3.44%
5 Energy 1.93%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NMM icon
26
Navios Maritime Partners
NMM
$2.3B
$1.33M 0.16%
34,011
-50,340
-60% -$2.12M
TALO icon
27
Talos Energy
TALO
$2.53B
$1M 0.12%
+103,236
New +$979K
CRBU icon
28
Caribou Biosciences
CRBU
$145M
$718K 0.09%
786,722
+52,518
+7% +$68.3K
HELP
29
Cybin Inc
HELP
$485M
$715K 0.09%
112,805
+51,893
+85% +$449K
QIPT
30
DELISTED
Quipt Home Medical
QIPT
$574K 0.07%
+246,496
New +$676K
XFOR icon
31
X4 Pharmaceuticals
XFOR
$375M
$481K 0.06%
67,845
+21,113
+45% +$291K
INZY
32
DELISTED
Inozyme Pharma
INZY
$401K 0.05%
440,807
+222,270
+102% +$308K
MITT
33
TPG Mortgage Investment Trust
MITT
$222M
$374K 0.04%
51,202
– –
TFPM icon
34
Triple Flag Precious Metals
TFPM
$5.94B
$278K 0.03%
+14,520
New +$248K
DAWN
35
DELISTED
Day One Biopharmaceuticals
DAWN
$251K 0.03%
31,693
+15,687
+98% +$169K
URGN icon
36
UroGen Pharma
URGN
$1.86B
$231K 0.03%
20,893
+8,393
+67% +$89.5K
HROW icon
37
Harrow
HROW
$1.45B
$216K 0.03%
+8,133
New +$243K
RGNX icon
38
Regenxbio
RGNX
$620M
$185K 0.02%
25,846
+14,125
+121% +$105K
ETNB
39
DELISTED
89bio
ETNB
$180K 0.02%
24,778
-5,661
-19% -$49.5K
CELC icon
40
Celcuity
CELC
$4.21B
$178K 0.02%
17,640
+182
+1% +$2.06K
ADAM
41
Adamas Trust
ADAM
$815M
$177K 0.02%
27,301
– –
DERM icon
42
Journey Medical
DERM
$175M
$161K 0.02%
+27,274
New +$134K
VERV
43
DELISTED
Verve Therapeutics
VERV
$158K 0.02%
34,500
-10,300
-23% -$69K
ARWR icon
44
Arrowhead Research
ARWR
$11.9B
$156K 0.02%
+12,221
New +$222K
IMTX icon
45
Immatics
IMTX
$1.18B
$155K 0.02%
34,270
+2,808
+9% +$14.7K
IOVA icon
46
Iovance Biotherapeutics
IOVA
$1.82B
$143K 0.02%
42,897
+4,022
+10% +$20.7K
RZLT icon
47
Rezolute
RZLT
$454M
$137K 0.02%
47,122
+3,935
+9% +$17.1K
ODV
48
DELISTED
Osisko Development Corp
ODV
$97.2K 0.01%
65,265
+36,774
+129% +$54.4K
CLF icon
49
Cleveland-Cliffs
CLF
$6.57B
$82.2K 0.01%
+10,000
New +$102K
NEWP
50
New Pacific Metals
NEWP
$859M
$81.1K 0.01%
73,430
+31,300
+74% +$37.2K
1
2
3

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Pale Fire Capital SE's Q1 2025 Portfolio in Review

As of Q1 2025, Pale Fire Capital SE held 70 positions worth $842M, up 91% from $441M the previous quarter. Its ten largest holdings account for 90% of the portfolio.

Pale Fire Capital SE deployed $298M of net new capital in Q1 2025, opening 19 new positions and adding to 27 existing holdings. Its largest new stake was Barrick Mining: 7,498,976 shares worth $146M.

By sector, the portfolio is most concentrated in Materials at 57% of assets, up from 33% a quarter earlier, followed by Communication Services and Consumer Staples.

On the sell side, the largest reduction was International Seaways, an estimated $8.81M trimmed.

  • Pale Fire Capital SE's largest Q1 2025 buy was Barrick Mining: 7,498,976 shares worth $146M.
  • Pale Fire Capital SE added most to B2Gold in Q1 2025, an estimated $33.3M increase.
  • Pale Fire Capital SE's biggest Q1 2025 reduction was International Seaways, cutting an estimated $8.81M.
  • Pale Fire Capital SE fully exited Teladoc Health in Q1 2025, selling an estimated $1.01M.
  • Pale Fire Capital SE's ten largest holdings make up 90% of its $842M portfolio in Q1 2025.
  • Pale Fire Capital SE opened 19 new positions and closed 8 in Q1 2025.
  • Pale Fire Capital SE's portfolio value rose 91% quarter-over-quarter to $842M.

Based on Pale Fire Capital SE's 13F filing for Q1 2025, filed 14 May 2025.